9-Strategies You Must Do To Reach Your Goals In 2011
by Bill Glazer
Are you still on track with your goals for 2011? This month I want to give you some specific things to focus on for the rest of the year that will give you the opportunity to make sure you reach those goals (hopefully) you set for your business before this year began.
When I’m speaking about goals, they can range from the amount of money you want to make this year, an increase in business, and anything else that is business related for that matter. If on the other hand you have already surpassed or are on track with your goals, then these strategies will help you create even more profit from your business for the rest of the year.
Strategy #1 – Have Clearly Defined Goals: It is imperative that you set goals as behavior psychologists tell us that people who set specific time bound goals have a five time better chance of achieving those goals than people who do not.
It’s really simple. If you don’t know where you are going, how are you going to get there? Or better yet. How are you going to know when you “arrived?”
Everyone always tells you how important it is to set goals for ourselves, but how specific are the goals that you are setting for your business? Whenever I conduct a day of consulting, one of the first questions that I ask is… How much money do you want to make?
The absolute worst answer to that question is one that I get also which is “As much money as I possibly can.” Now, how can you build a plan or strategy to make that amount of money? You can’t because there’s no defined goal on the exact amount of money you would like to earn.
For example, you should decide how much money you want to make in the next 90 days, how much volume you need to generate in order to make that money, how much inventory you need to have in order to support that volume, etc. etc.
What you need to do is sit down with a pen and paper, write down everything you hope to achieve during 2011, and then more specifically write exactly what you need to do the last 5-months of this year to make your goals a reality.
Strategy #2 – Don’t Do Things That You Hate Doing: This is really a very big strategy so give this your undivided attention. I realize how easy it is to get caught up doing certain tasks in your business that we absolutely hate doing.
Whether it’s accounting, paying bills, hiring employees, handling client complaints, or whatever, there are simply things that we HATE to do. The good news is that nearly anything you can think of that is tied to your business can usually be outsourced to others, thus freeing up your time to do the things you love to do.
Whatever you are doing that you hate to do, consider having other competent people deal with these tasks for you. On the other hand if you love doing tasks, but hate others, just continue to do the things you love, and STOP doing the things you hate. It’s that simple.
Strategy #3 – Never Outsource Your Marketing Even If You HATE It: I know, this contradicts Strategy #2, but the marketing of your business is the only thing that you should never outsource.
If you want your business to be really successful you need to be the expert marketer for your company, learning all the marketing strategies you can, and then implementing those strategies. You see, there’s a little secret that I’m going to let you in on. Many of you won’t like hearing and will swear until they put you in your grave that it’s not true… but it is!
Here’s the secret… the real money-making opportunity in any business is not in the products you sell or the service you deliver… the real money is in the marketing. If you look back at history and observe any really successful company you will discover that every one of these companies were excellent marketers of their products and services.
Strategy #4 – Don’t Be Afraid To Fail: We all have our little quirks and insecurities in our lives and in our businesses, but the #1 fear that is so prevalent among entrepreneurs, and is detrimental to their success at the same time, is the fear of failure.
How many people do you know who buy educational materials and attend seminars, but have trouble putting all of that education into action? The problem is that many of these people will get all fired up about starting a project, learning a new method of making money, but when it comes to taking action, they ask themselves this question…
“What if I start this new strategy or promotion and then after hours of implementing everything it fails? Then what?
They are petrified of failing because they know that all of the time spent trying to make that strategy or promotion work is lost forever. The only thing that happens when you are caught in this trap is that you never succeed with any of your ideas because you are too afraid to stick with one idea long enough to see it through fruition.
It’s that constant fear of “what if it doesn’t work?” You need to sit yourself down, have a talk with yourself and get that OUT of your head. You need to stop getting out there and make things happen.
Think of it this way… The best promotion in the world that was NEVER marketed will never make as much money as the crappy promotion that WAS marketed. The time for you to make money in your business is today and the only way that’s going to happen is for you to simply start doing stuff.
My own personal marketing mentor and friend, Dan Kennedy, always says that the definition of insanity is doing the same thing over and over again and expecting a different result.
Strategy #5 – Test More Stuff: Test, test, test! Testing is what drives the results and the money in business. You constantly need to test offering new products, services, and marketing campaigns to your prospects and clients.
If you already have proven marketing pieces and promotions, you are crazy if you don’t run spilt tests on them to see if a slightly different version can outperform the others. Whatever you do, DO NOT take the lazy mentality of “if it ain’t broke, don’t fix it” because there is always room for improvement when it comes to marketing your business.
Strategy #6 – Buy More Advertising: This is a HUGE mistake that I see entrepreneurs make on a daily basis. Too often people get complacent with the advertising that they’re using instead of continually reinvesting a portion of their profits into generating new leads/prospects via NEW advertising channels.
Remember, as long as you are making a profit from existing marketing initiatives, continue to reinvest in those tried and true efforts, but venture out into trying other media, track your results, and increase your revenue.
Strategy #7 – Pursue Relationships That You Can Do Cross Promotions With: One of the best deals out there is developing relationships with other businesses that have customers that you would also like to acquire.
You should be constantly on the search for opportunities for these relationships. For example, in one of my mens stores we hosted a special evening for the members of one of the largest Churches in Baltimore to come into our stores for an evening of food, entertainment, and (of course) SHOPPING.
The best thing about these types of relationships is the fact that there is very little up front cost associated with them.
Strategy #8 – Mail Your List More Often: Too many people are afraid of sending too many offers to their lists in fear that they will anger their clients. The truth is that clients are going to come and go no matter what, so why not actively send your clients compelling offers that will benefit them.
In fact, by approaching your list in this matter, you will be perceived as a problem solver and not as someone who is merely trying to make a buck.
Interesting… .I have found that the more frequently you mail your list, the more responsive your clients become.
We call this our ‘Keep In Touch Program.’ The program is simple… .by staying in touch with our clients, giving them quality resources with the best possible service, we actually provide a real benefit to their lives. Not only will you build a stronger bond with clients, but you will make more profits in the process.
Strategy #9 – Reward Yourself: I saved this one for the end, but I am a big believer of rewarding yourself for all the hard work you have put into your business, by spending money on things or activities that make you happy.
Now, I’m not suggesting you should be frivolous and throw your money around buying every expensive toy you can think of with the profits you make from your business. The idea is to work hard making your business as successful as possible, and as you see the fruits of your labor showing up as dollar signs in your bank account, take a portion of those profits and do something great for the person who was behind all of those profits… YOU!!
I don’t care what you buy, just make sure you reward yourself with gifts from time to time. If you are ultra successful and want to reward yourself with a new sports car, by all means do it! Any reward you buy for yourself provides feedback to your brain. Think about it. Anytime you reward an employee or give them a pat on the back for a job well done, you increase the chances of that success repeating itself.
Doesn’t it then make sense that by rewarding yourself, your mind is now wired for continuous success?
Wrap Up: I’m confident that if you simply create a plan of action based on the suggestions I have just given you, the rest of 2011 will be amongst the most profitable months that you have ever experienced in you business.