Harvard Business Review just released information that over 100 million new business get started a year. A well known fact is that 995,000 of those will be out of business within 5 years. It’s not because their product, good or service wasn’t great, it was because they didn’t understand the 5 Hidden Drivers of Wealth.
“Small business isn’t for the faint of heart. It’s for the brave, the patient and the persistent. It’s for the overcomer.”
You may be familiar with a very successful over 100 year old company called, Coca-Cola?
Believe me when I tell you their very first year in business wouldn’t have impressed anyone.
In their first year they averaged selling only 9 cokes a day, at 5 cents a piece that’s 45 cents a day. They grossed a little under $50 that first year with expenses of $76 dollars.
Had you owned the company, you probably would have been so disappointed, you would have quit with those results, or lack there of.
Using the 5 Drivers of Wealth, Coca-Cola is now a world wide icon as you well know.
What you may not realize is that Coca-Cola sells 1.8 billion 8 ounce cokes EACH DAY worldwide. Within 4 days they’ve sold over 7 billion cokes; basically every person on earth has purchased a coke.
What’s wilder to think about is, if coke increased their price by just ONE cent per bottle they would increase their revenue by EIGHTEEN MILLION DOLLARS A DAY.
But the vision and the voice inside the founders head was louder than the voices outside that were saying it wasn’t going to work, or he would have stopped, and you would have never heard the words Coca-Cola.
Or perhaps you are familiar with another company called, Starbucks?
Starbucks sells 40 million cups of coffee each and every week. If they only made one dollar per cup of coffee, then would gross 40 million dollars per week, 160 million a month…not too shabby.
Wouldn’t you love to know how your company can achieve such massive success?
Of course, I think only natural to be curious.
The reality is, there are just a few things that separate your business from achieving all the success I know you deserve.
Some want to think to achieve such success, there has to be a secret.
There really are no secrets, just a few key elements that when your company can really see, from a birds-eye-view, what these companies did, then you can do the same thing.
So lets clarify, simplify and un-clutter the mystery of how to get massive results for your company.
The 5 Hidden Drivers of Wealth
1. Owning equity in ongoing transactions.
Just ask yourself how many transactions are going on every day, week, month and year in your business that is putting money in your pocket.
Your goal daily is to increase those transactions.
2. Remember there are 7 billion people on earth that trying to do one of three things:
a. Get Something
b. Keep Something, or
c. Get Rid of Something
People are all trying to get a car, keep a car, or get rid of a car.
People are all trying to get a spouse, keep a spouse or get rid of a spouse.
People are trying to get the perfect weight, keep the perfect weight or get rid of the weight.
So, if your product or service is helping someone get it, keep it, or get rid of it, then you are in a
position to make a fortune.
Here is the formula for wealth that can dramatically change your life and your finances for generations to come.
If you are supplying a valuable product or service, to a large number of people buying, then you can generate massive wealth.
SVPS x L#PB = Wealth
3. Remember that your company is invisible and your product/service is homeless until your product finds a home; someone has to own it.
It doesn’t matter how nice of a person your are, it’s doesn’t matter how passionate you are, or what education you have, how good your product/service is, how good your sales team is, how good your delivery is, how good your collections are, how good your warranty is…none of that matters until someone has:
-Seen Your Product/Service
-Read About Your Product/Service
-Heard about your Product/Service
-And Until You Have People Talking about your Product/Service
There are only four possible ways to get seen, read, heard and talked about.
4 Ways To Get Seen, Read About, & Talked About:
1. You can tell people about your business.
2. An associate, partner, or affiliate will tell the world about your business.
3. A “tool” can be used to get the world out.
4. An event can help expose people to your company.
You have to ask yourself:
-How many times a day are you telling the story of your product/service?
-How many times a day are the associates, partners, or affiliates telling the story of your product/service?
-How many tools a day are in the marketplace telling the story?
-How many events are going on that are telling the story?
Here are some of the “tools” that you can use to create exposure of your company:
-CD/DVD Marketing Pieces
-Web Based Ads (Facebook, Linked In, Google Ad Words, etc)
-Bench Park Signs
4. Once you have got a system of being seen, read, heard and talked about, “can and clone” that system. Make a prototype of it.
5. Expand the network of associates, partners, affiliates, or outlets that’s handling your product, good or service.
Remember it took Coke over 100 years to accomplish what they have. This formula will work, but not overnight.
If you execute this properly, you will reach what in marketing is called T.O.M.A. (Top Of the Mind Awareness), which means that when someone is thinking about your product, goods or services, that your name is the first one that comes to mind. Just like the 1.8 billion people a day that think about Coca-Cola when they want something cold to drink.
If all you did was focus on the 5 Hidden Drivers of wealth and executed them properly, you would build one of the next icons.
To leverage the lesson you just learned, make sure that everyone in your company understands these 5 drivers of wealth, so they back everything that you do.
Over the years our company, Sign It Quick, has worked with Disney, Nickelodeon, BMW, NASSA, Hard Rock Cafe, Planet Hollywood, and the Super Bowl and thousand of other companies and organizations. People choose to work with Sign It Quick, because the entire staff understands how to get your company seen, heard, read and talked about.
To understand more ways to get seen, heard, read, and talked about, we have made a 90 minute audio, packed with ideas, concepts and principles that will make it easy and simple to implement.
My wish to you is to make the rest of your life the best of your life.