7 Principles of Success - Part 5 - Faith and Burning Desire

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7 Principles of Success - Part 4 - Be committed for a long period of time

Yours in Success,

Giancarlo Barraza

Blog: http://giani4life.blogspot.com/

Facebook Fan Page:  http://www.facebook.com/lifecoachingtv
Twitter Page:   https://twitter.com/gianibarra
Website: http://www.giancarlobarraza.com/

The magic of having positive attitude

Yours in Success,

Giancarlo Barraza

Blog: http://giani4life.blogspot.com/

Fan Page:  http://www.facebook.com/lifecoachingtv
Website: http://www.giancarlobarraza.com/

Your Niche in business

In this article we continue to look at developing your niche. So what’s your best-selling product... and what’s the profit margin on that product?

Do you have a “best-seller”? Do you know what it is? What is the margin on that product? Don’t know?

Find out!  And, when you do, raise the price on that product by at least 10 per cent.

Then, ask yourself if you could simply focus on that product (and perhaps the accessories for that product or service) to create a more narrow, yet more highly profitable business.

Say you own a full service restaurant, but the morning breakfast crowd is the bulk of your volume... can you become a breakfast-only cafe? Can you focus on great coffee and freshly-squeezed juices?  Can you become a “premium” priced café versus a “discount” full service restaurant?

Take a look at your business. Learn your numbers and know what it is you are selling. You just might discover the “gold” you are looking for outside of your business actually exists within it.

How do you get new leads and customers... and how much do you spend to “buy” your customers?

Do your marketing efforts pay for themselves? More importantly, do they make you money? Do you know how much it costs to get a potential customer to your door? Through your door? Or how much it costs to convert that lead into a sale?

If your advertising budget for last year was $100,000 and you can’t tell if it brought in new customers or added new dollars to your bottom-line, you have a serious business issue you need to resolve right away.

Learn as much as you can about how to turn your business into a marketing machine. Get comfortable with the idea of marketing and of “buying” new customers through advertising. If buying a new customer costs you $30, but the lifetime value of that customer is $5000, you have a great business and marketing program. But if those numbers are reversed, you won’t be in business long. As the late management guru Peter Drucker wrote, “the purpose of business is to create and keep a customer.”

I’ve met and known a lot of very successful business owners and entrepreneurs, and there are some in that exclusive club who run extremely profitable businesses with low overheads and very narrow selections of products and services.

Not only should they be envied, they should be copied. And the basic ingredients in their recipe for success are these simple steps.

Just remember simple is not always easy. But it can be very, very profitable.

Article reprinted courtesy of My Business Magazine

Building an Online Database

If you’re already in business—and new to online business—it means integrating your existing customers into your online marketing efforts.

For every single person that comes through your door, when they come to the cash register to pay—whether it be by check, Visa, or cash—you get their first and last name, and email address. Every single time! If they object, you kindly remind them that preferred customers get great discounts.

The reason for this is very simple: if you have their email address,you now have the potential to contact them for free from now on! You don’t have to physically mail anything except your actual products. Brochures used to mean at least a buck per piece by the time you add the cost of producing them or a sales person to call them up. By email it’s free!

This is a perfect example of how you raise your profits instantaneously by using this one simple technology that’s been around for almost decades. If you collect the first name, last name, email address, it allows you the ability to personalize every single email that goes out to all of your customers. You just put first name, last name, email address, date they came in, what they bought; one line for every customer. That’s all you have to do.

You’ve just built a database. You can take anything separated by commas and import into any program. People perceive this to be very difficult, but when you break it down it’s super easy.

It doesn’t seem like much when we’re talking about one email to one person. But what about sending to 500 people; mail merges by the date they came in, whatever they did, how much they spent? Within three minutes 500 customers get an announcement of a special offer for them. Do you think that within 24 hours you’ll notice an uptick in clicks, calls, or feet through the door? Of course!

It’s the simplicity of email. It’s faster than Federal Express. It’s faster than fax. You press a button, it’s there. And you can personalize it just for them.

Do you think you’re going to email something to 100,000 people or 500,000 people and you’re not going to make something extra in profit? We can send personalized emails to hundreds of thousands of people every single month and generate a lot of money from that.

Mind you, it can take a couple of years to create that kind of list, but so what? Two-years well spent to begin making $100,000 per month, yes? Think about it. If you send out an email to that list of $100,000, you’ll make aminimum of $100,000 from mailing that list just once! If we do that every month, you do the math. It’s a pretty powerful asset to have.

Just start with something. You don’t have to go high-tech. You don’t have to have automatic everything. Just get online and start marketing, start learning, and start experiencing, because if you don’t, your competitor is going to!

Stay simple. Stay clean. Get the job done. Your job is to be online, to be in business; get the customer to give you their information and buy from you. Whatever your goal is, get that job done online.

http://www.giancarlobarraza.com

Why successful people hire coaches

If you are a successful executive, you may have been approached by your team or an outside consultancy about the possibility of being coached by an Executive Coach.

But why would you consider hiring a coach if you were already successful and delivering high performance results? Why would you hire a coach if you were already making lots of money and are moving towards an upward climb or if you had a track record of success, or if you had an important and prestigious title, or if hundreds (or thousands) of people reported to you? Why would you hire one if people have told you for most of your career that you are doing a great job or if your employees counted on you to set direction for them?

You probably don't think you need any help if you could answer "yes" to the above questions. In fact, nine out of ten executives say "No, thank you" to executive coaching, and the tenth will generally say they don't need executive coaching, but many of their direct reports do.

Despite the above, many executives have coaches, and report that their coaching experience is extremely valuable, even one of the most valuable experiences of their career.

Therefore, it is important to understand your own perspective and situation and why it would benefit you to hire a coach to improve and accelerate your own level of performance. Basically, there are two bottom line reasons why executives seek out and are willing to have a coach, and be coached to greater success:

1. The coach helps you get significant results, solve a pressing challenge, and/or take advantage of a major opportunity.

2. The coach is credible, engaging, and has the depth of knowledge and experience to become a trusted advisor.

In other words, executives hire a coach because an effective Executive Coach can help you solve the challenges you face every day, and ultimately because you want to - and are willing - to work with a coach.

Because you are already a highly-effective leader in a position with significant responsibility, being able to leverage areas of constraint or need in a short and measurable period of time is critical for coaching success.

That's why coaching has become a trusted process for leveraging performance: processes and standards are set and benchmarks and agreed upon metrics must be met, or else you and the coach see the process as a failure

for more info visit  http://www.giancarlobarraza.com