How To Optimize Your Assets & Increase The Bottom Line – 3/3

OK. This is the fun part. In part 1 and part 2 we addressed asset optimization. Turning the intangible asset of data, the people you already know, into an optimized business getting tool to increase the bottom line.

To complete the series I want to share with you some tips for maximizing your chance of success from this exercise through effective outreach. Or, as we call it here, ‘Hunting and Gathering’.

Part 3 – Hunting and Gathering

I have never been a fan of a number of sales and marketing terms like ‘rainmaker’, ‘shark’ or other buzz words. For the record, I have identified with the terms ‘Hunter’ (someone seeking new business relationships) and ‘Farmer’ (someone cultivating relationships).

For small businesses I feel the best outlook is to be a hybrid of both (Huntarmer?), especially in regards to this exercise.

Why?

The prospects and potential partners for this exercise are all people that you know, or have had some contact with, to some degree. So, to get the results you desire will mean having the mind set of both a hunter and a farmer.

The outreach activity will need to be driven, with purpose, towards the next step of the sales process. The point is that you will be afforded the opportunities associated with them already knowing you. However, it is important to be aware that they will need to be handled much the same as any potential partner or prospect.

It is also important to bear in mind that this series has talked about short term revenue gain from the assets at your disposal but we are also striving for increasing the net worth of the business by having a clean, well maintained database that has value in its own right.

How to optimize your chances of success and increase the bottom line?

Well, here are some tips to increase the bottom line…

From a marketing perspective:

  1. Align your offer to the needs of the markets you are targeting through this exercise. Compile a list of relevant features and benefits that will resonate with them and decide on the big result they get from working with you.
  2. Create a series of outreach materials that relay this message in digestible form and that are Relevant, Interesting, Timely and Entertaining (RITE).

From a sales perspective:

  1. Understand the psychology of sales. This is both from yours AND the buyers perspective. Embrace the keys of persuasion and be different to everybody else that is bidding for the prospects time and money.
  2. Know who you are talking with, what buying mode (over-confident, even-keel, trouble and growth) they are in and prioritize your time to be in front of people that are more likely to buy at this time.
  3. Follow the sales process and know that simply asking for the order is all ‘the close’ needs to be.

Really, it can be that simple, It doesn’t have to be any harder than it needs to be.

Most people miss this important piece of the entrepreneur puzzle and stay on the hamster wheel chasing new prospects all the time (even if that is through content marketing to generate inbound leads). It is a great opportunity to take control and know that you are maximizing the chance of short term success and long term net worth.

If you want to learn more about the topics covered in this series click here and take advantage of the materials available

 

 

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