How do you know whether your business is successful? In this market, dont be fooled by evident versus real business success. Here are some counter-intuitive indicators to measure your business success.
1. Failure to win traditional marketing honors. If you have been awarded any traditional recognition, it means that you have brought down your marketing endeavors to the level of status quo. The measure of excellence unavoidably has little to do with bottom line market share and revenue output, and not in what I term, cutesie or funny advertising. The most successful marketing is always the marketing that most webmasters, family and other experts will tell you NOT to do. It is also the kind of marketing that gets your competitors angry.
Speed To Market Principle: Unhappy competitors, loved ones who tell you dont do it!, and going against the grain of so-called technical advice, these are the 3 indications that you should move ahead with your marketing. Beware of concord with any of these individuals!
2. Failure to use email often enough to compel people to unsubscribe. Only email to extinguish your dead wood. Or in other words, unsubscribes are a useful method of analyzing the effectiveness of your business success. I tell my clients that if they are not having unsubscribes they are not staying in front of their ideal clients frequently enough. Remember, many of the people on your newsletter list are freeloaders. They are obviously there to get no cost material or learn more about you. People who unsubscribe from your newsletter list means that your subject matter is actually getting through to those who really demand what you do.
Speed To Market Principle: Eliminate the decimal point i.e. Move the free line-give away your best knowledge in exchange for contact information to manifest the power of your system, but move the decimal place to the right to put across the value of your time.
3. Failure to sell a $25,000 consulting program before one sells a $27 ebook. Most people dabble on the Internet to sell a few dollar eBook or some other downloadable program but they fail to understand that the standard skillsets of selling are the same. Selling a low priced program is usually indicative of going after the wrong clients who understand you get what you pay for. Positioning your marketing to make the high dollar sale also ordinarily means that there is less rivalry at this level and it makes selling your programs simpler than contending with a sea of sameness where thousands are all competing for the duplicate low dollar sale.
Speed To Market Principle: The first company that develops a sales team wins in the marketplace!
4. Failure to create software that demonstrates your market command. Software creation is the supreme way of demonstrating that you have a business that can be measured and registered by specific systems. The reason for producing business systems is three-fold. First, to quantify what it is your company really does. Secondly, to begin to bolster your companys productivity, software establishes mastery of a particular system. Thirdly, systems creation is the solution to your exit strategy. As you build your company consider what you are going to do with you company in15 years when you want to retire. The three possibilities are: 1. sell your company; 2. .take your company public; or 3. leave it to a loved one.
Speed To Market Principle: Mastery is best shared by creating a system to grow the productivity of your target market.
5. Failure to leverage Milgrams Law and Zipfs Law to become the Knowledge Broker of your market place. Milgrams Law states that people will blindly believe the words of an virtuoso. Zipfs Law states that your ideal clients will by nature select the person or company perceived to be #1: and they will prefer this person or company for life!
The easiest way to leverage Zifps Law is to author your own book by solving a very well-defined problem in the market place. When you do this successfully, your happy clients will prefer you for life. In other words, they will lean on you for answers in many areas associated with your competence and also in areas outside of your competence! The secret to making money and leveraging Zipfs Law is to create an affiliation of people you have faith in and sell their courses of study grouped with your own.
Speed To Market Principle: The secret to leverage Zipfs Law is to become the knowledge broker of your market place. Knowledge brokering begins first by resolving a specific problem for your ideal clients.
Use these 5 counter-intuitive indicators of a successful business to achieve market authority in your niche quickly.
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