Far too many small business owners, entrepreneurs and professionals try to follow and emulate Wal Mart’s business model and be the King and Low Price Leader. It worked for the late Billionaire Sam Walton, but for most entrepreneurs it is the quickest route to Bankruptcy.
The second most common mistakes professionals make, especially true in a challenging economy is to start slashing prices and lowering them in hopes to earn less profit but do more volume. If you leave your wealth dependent upon the masses and large volume of sales you are going to sink like a lead balloon. If your plan to wealth is based on less profit on more volume…”You Will Work To Hard for to Little”.
In fact, the only reason you should be selling a low price low profit margin item is to use it as a Lead Generator to attract and obtain new customers. And if that is your marketing tool, you should be giving it away not trying to sell it. For instance, if you took my annual income and divided it hourly, it comes to well over $500.00 an hour. Do you think I am interested in spending an hour or more with people trying to sell them a $50.00 CD?
I only spend time talking with future prospects that I am 99.9 percent sure that I will be paid a minimum of $500.00 an hour. For example, if I am selling a $2000.00 product of ours, I know that I can spend up to three hours of my time with that person as long as I know there is a 9.99 percent chance that I will sell them that item. Now how do I position myself to get in that 9.99 percent range? Before I talk with anyone about our product line, they will have been well processed through a multi-step pre-qualify marketing process that everyone in our data base goes through. Here are the pre-qualifying steps.
- Can my product drastically help them and give them what they want?
- Do they want my product
- Can they afford my product
When Yes is the answer to all three of those questions, then and only then do I get in front of anyone and start the sharing process. Now, when I get in front of someone and I have three hours to close the deal, I can normally get them to say Yes to my offer in 20 minutes or less, however, I give them the whole 3 hours if they want it. I do not take the money in the shortest time possible.
When people get an email or letter from me offering them a CD or Product for $99.00 most think I am trying to sell them it. Or you kidding me, I have zero interest in selling $100.00 products, it’s a complete waste of my time and based on my hourly fee, it actually cost me money. Why then do I do it? Because I am in the business of helping people and I truly care about their future success. I make these training CD’s available because I know they are key elements and tools that will help people reach their dreams. Someone asked me, if that is true, why don’t you just give the training CD’s away? I said if you are willing to pull your head out of your Ass for 5 minutes I will tell you why. First, we give away tens of thousands of dollars of free resources every month and second the most injustice thing we can do to someone is to disable them by feeding them instead of teaching them how to fish.
The first law of Success and you better write this down is “Success is Never Free and Always Demands Payment!” No one can Feed You Success, Success must be caught by you, and some kind of financial investment is the only kind of bait Success bites on.
If you learn how to become proficient in marketing and master the skills of prospecting and lead generation response, you will join the ranks of those who take pride in becoming the “High Price Leader”. Your motto and experience will be “More Value to My Customers with More Profits for My Company.
So just know, unless you and I are talking personally and you are about to write me a twelve thousand dollar check for the one and main product I sell, everything else I offer you is a tool and resource that will drastically help you become a Master in Marketing which you need to reach all of your business, professional and financial dreams.
Resources are like high-powered bullets, the world of finances and business is a “Dangerous Jungle” and everything that crawls out there will eat you for dinner. You do not want to go out there and run out of bullets. Wearing a fur coat because a Lion ate you is not the way to “Dress for Success”.
My advice and counsel to you, grab every resource I offer you because I have no interest in selling you low-cost items, I am emphatically trying to give you the tools and bullets you need to stay alive and thrive in the world of commerce. It’s a Freaking Jungle Out There…
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