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Answer Upon - How To Double Your Business in 2006, Part II
They say that any organization, project, idea, or anything is only as strong as its weakest link. That is no more true than in the world of medical billing. The problem is, medical billing has so many weak links in its structure that it is a miracle that anything at all gets done. In this article, we take a look at just a few of these potential disaster areas.The biggest weak link in medical billing is the system itself. Oh, you can make all the arguments you want about how they're doing the best that they can with a system that was doomed to fail from the start but it doesn't change the fact that the medical billing process is a nightmare to begin with.Let's start with the billers. Because of all the regulations, a ton of knowledge is n
Be specific and ask for a referral from a specific group within your client’s circle of influence. For example, ask them if they have a co-worker who could use your services, or ask for a referral of a friend from their church if you know they are active in church. This helps your client focus in on a manageable segment of their circle of influence so they can more easily think of a particular person who could use your service.
Be Ethical
This last business building strategy seems obvious, but it has to be mentioned. You absolutely must do business in an ethical, honest manner, with the best interests of your client in mind at all times.
Run your business with a long term philosophy of repeat clients and word-of-mouth advertising in mind. If you are ethical, people sense it and will gravitate
Telephone can be described as a telecommunications device, which is used to transmit and receive sound across large distances. Most telephones operate through transmission of sound-modified electric signals over a complex network that allows any phone user to communicate with any other phone user within that network.Telephone systems and networks have witnessed an explosive growth all over the world, both in terms of usage and technical advances. Latest systems include VoIP (Voice over Internet Protocol), ISDN (Integrated Services Digital Network), DSL (Digital Subscriber Line), mobile cellular phone systems and the third generation cell phone systems that include high-speed data transfer.Usually, whether a telephone instrument is able to car
Now that you have your database underway, it’s time for me to reveal five more strategies that I used to double my business in 2004 and more than double my business in 2005. Let’s get started.
Multiple sources of business
Part one of this article ended with one of the most difficult questions that every business faces: Where will you get the prospects to start building your database?
Depending on your business, it should not be a difficult task to brainstorm 10 different ways in which you could come into contact with potential prospects. No matter what your business is, here are a few sources for prospects to get the gears in your brain going: Friends and relatives, hobbies, church, internet or website promotion, writing articles for the newspaper or local newsletters, aligning with business partners who could refer their clients to you, door to door, purchasing lists, direct mail, leads groups, volunteering, and referrals from past clients.
Some of these methods may not be your cup of tea, but there should at least be a few that seem like something you can get your arms around.
One of the critical mistakes a failing business makes is to rely on only one source of business for generating prospects. I made this mistake early in my career by focusing completely on the internet. The problem was that if the internet didn’t produce a good crop of prospects one month, I would go through the inevitable up and down roller-coaster ride that many business people experience.
The secret to an ever-growing and consistent business is to choose four or five sources of business that can consistently, month in and month out, funnel quality prospects in your direction.
Why four or five you ask? The reason is that if you diversify into several sources, if one is not productive one month, the others will still provide you with quality, fresh prospects. Instead of the up and down roller-coaster, you will instead be on a steady upward sales trend that will continue to grow over time.
So now that you are producing quality prospects, what do you do with them? That goes into the next strategy:
Consistent follow up
I operate under the philosophy of “never give up on a prospect.” I have systems in place to consistently and continuously follow up with prospects, clients, and business partners literally forever. Most of these systems are on auto-pilot and actually take very little of my personal attention on a day-to-day basis.
If you start operating with this follow-up philosophy in mind, and you are continuously cramming your sales funnel full of quality prospects, eventually they will start coming out the other end at a faster and faster rate. Here is an example of a simple follow up system that you could use for your prospects:
Once per month: informational email (article, ezine) Every two months: email hello (conversational, “How are you doing and can I help you?”) Phone call every 3 months Snail mail newsletter every 3 months (alternate with phone call)
Using this approach, you are hitting the prospect 26 times per year with different forms of media on a consistent basis. It is important that you use email, regular mail, phone, and any other method you can think of to stay in touch as not all people respond to the same types of contact. It is not a miracle that when it comes time to buy, they will think of you first.
And what makes this all possible? Your bullet-proof database system, of course.
Hard work
There is no substitute for this basic strategy. Work hard and you will see results. If you find it difficult to work a long day, try getting to work just a half hour earlier every day, and leaving a half hour later. That will add 5 hours to your week which you can use to generate more business.
Ask for Referrals
Most of your clients, if you are doing an outstanding job, would gladly refer a friend, family member, or co-worker to you, but many times they do not even think of it unless you mention it. Don’t be shy after you have done a good job for a client, to directly ask them for a referral, you deserve it.
Be specific and ask for a referral from a specific group within your client’s circle of influence. For example, ask them if they have a co-worker who could use your services, or ask for a referral of a friend from their church if you know they are active in church. This helps your client focus in on a manageable segment of their circle of influence so they can more easily think of a particular person who could use your service.
Be Ethical
This last business building strategy seems obvious, but it has to be mentioned. You absolutely must do business in an ethical, honest manner, with the best interests of your client in mind at all times.
Run your business with a long term philosophy of repeat clients and word-of-mouth advertising in mind. If you are ethical, people sense it and will gravitate
Imagine that for the past year you have been negotiating a huge deal with an overseas firm. On the day the deal will be finalized, your company’s big brass troops to the conference room. You are tickled pink that the deal will be completed using the teleconferencing service provider you just chose for the company. What's more, you saved a few bucks by picking a brand new start-up company!With everything and everyone posed to close the deal, what could possibly go wrong? The answer is everything! The teleconferencing monitor at the front of the room short circuits. It is engulfed in a cloud of smoke. The executives run out of the room in alarm. The next day, they call the deal off. You lose what could have been the biggest coup of your career, and al
Some of these methods may not be your cup of tea, but there should at least be a few that seem like something you can get your arms around.
One of the critical mistakes a failing business makes is to rely on only one source of business for generating prospects. I made this mistake early in my career by focusing completely on the internet. The problem was that if the internet didn’t produce a good crop of prospects one month, I would go through the inevitable up and down roller-coaster ride that many business people experience.
The secret to an ever-growing and consistent business is to choose four or five sources of business that can consistently, month in and month out, funnel quality prospects in your direction.
Why four or five you ask? The reason is that if you diversify into several sources, if one is not productive one month, the others will still provide you with quality, fresh prospects. Instead of the up and down roller-coaster, you will instead be on a steady upward sales trend that will continue to grow over time.
So now that you are producing quality prospects, what do you do with them? That goes into the next strategy:
Consistent follow up
I operate under the philosophy of “never give up on a prospect.” I have systems in place to consistently and continuously follow up with prospects, clients, and business partners literally forever. Most of these systems are on auto-pilot and actually take very little of my personal attention on a day-to-day basis.
If you start operating with this follow-up philosophy in mind, and you are continuously cramming your sales funnel full of quality prospects, eventually they will start coming out the other end at a faster and faster rate. Here is an example of a simple follow up system that you could use for your prospects:
Once per month: informational email (article, ezine) Every two months: email hello (conversational, “How are you doing and can I help you?”) Phone call every 3 months Snail mail newsletter every 3 months (alternate with phone call)
Using this approach, you are hitting the prospect 26 times per year with different forms of media on a consistent basis. It is important that you use email, regular mail, phone, and any other method you can think of to stay in touch as not all people respond to the same types of contact. It is not a miracle that when it comes time to buy, they will think of you first.
And what makes this all possible? Your bullet-proof database system, of course.
Hard work
There is no substitute for this basic strategy. Work hard and you will see results. If you find it difficult to work a long day, try getting to work just a half hour earlier every day, and leaving a half hour later. That will add 5 hours to your week which you can use to generate more business.
Ask for Referrals
Most of your clients, if you are doing an outstanding job, would gladly refer a friend, family member, or co-worker to you, but many times they do not even think of it unless you mention it. Don’t be shy after you have done a good job for a client, to directly ask them for a referral, you deserve it.
Be specific and ask for a referral from a specific group within your client’s circle of influence. For example, ask them if they have a co-worker who could use your services, or ask for a referral of a friend from their church if you know they are active in church. This helps your client focus in on a manageable segment of their circle of influence so they can more easily think of a particular person who could use your service.
Be Ethical
This last business building strategy seems obvious, but it has to be mentioned. You absolutely must do business in an ethical, honest manner, with the best interests of your client in mind at all times.
Run your business with a long term philosophy of repeat clients and word-of-mouth advertising in mind. If you are ethical, people sense it and will gravitate
Trucking companies are one of the most cash hungry businesses in the transportation industry. There are driver expenses, equipment expenses and fuel expenses. However, trucking companies can also be very profitable, if cash flow is managed properly.One of the main challenges that trucking company owners face is that freight bills can take as long as 60 days to get paid. This puts them in a tough spot, because unless the company has a significant amount of cash in the bank, it usually cannot afford to wait to get paid.Usually, the owner will try to go to the bank to obtain financing hoping that a loan or line of credit might solve the problem. Unfortunately, banks will seldom finance businesses that have less than three years of audited financ
So now that you are producing quality prospects, what do you do with them? That goes into the next strategy:
Consistent follow up
I operate under the philosophy of “never give up on a prospect.” I have systems in place to consistently and continuously follow up with prospects, clients, and business partners literally forever. Most of these systems are on auto-pilot and actually take very little of my personal attention on a day-to-day basis.
If you start operating with this follow-up philosophy in mind, and you are continuously cramming your sales funnel full of quality prospects, eventually they will start coming out the other end at a faster and faster rate. Here is an example of a simple follow up system that you could use for your prospects:
Once per month: informational email (article, ezine) Every two months: email hello (conversational, “How are you doing and can I help you?”) Phone call every 3 months Snail mail newsletter every 3 months (alternate with phone call)
Using this approach, you are hitting the prospect 26 times per year with different forms of media on a consistent basis. It is important that you use email, regular mail, phone, and any other method you can think of to stay in touch as not all people respond to the same types of contact. It is not a miracle that when it comes time to buy, they will think of you first.
And what makes this all possible? Your bullet-proof database system, of course.
Hard work
There is no substitute for this basic strategy. Work hard and you will see results. If you find it difficult to work a long day, try getting to work just a half hour earlier every day, and leaving a half hour later. That will add 5 hours to your week which you can use to generate more business.
Ask for Referrals
Most of your clients, if you are doing an outstanding job, would gladly refer a friend, family member, or co-worker to you, but many times they do not even think of it unless you mention it. Don’t be shy after you have done a good job for a client, to directly ask them for a referral, you deserve it.
Be specific and ask for a referral from a specific group within your client’s circle of influence. For example, ask them if they have a co-worker who could use your services, or ask for a referral of a friend from their church if you know they are active in church. This helps your client focus in on a manageable segment of their circle of influence so they can more easily think of a particular person who could use your service.
Be Ethical
This last business building strategy seems obvious, but it has to be mentioned. You absolutely must do business in an ethical, honest manner, with the best interests of your client in mind at all times.
Run your business with a long term philosophy of repeat clients and word-of-mouth advertising in mind. If you are ethical, people sense it and will gravitate
In the world of business you have to put the most of your efforts improving your products or services in a side, and market your products or services in other.This should be a priority in order to make your business grow up. However these are not the only things you have to do. In the middle you have to process orders, update your email lists, some administrative stuff and many other issues of this kind. This is a task you have to do and these tasks takes time, time you need to promote your business and improve your products.At this point you can see how important is automation. Why you should do manually a lot of work taking hours a day if software or some service could do this for you? There are a lot of software to automate almost any task
Using this approach, you are hitting the prospect 26 times per year with different forms of media on a consistent basis. It is important that you use email, regular mail, phone, and any other method you can think of to stay in touch as not all people respond to the same types of contact. It is not a miracle that when it comes time to buy, they will think of you first.
And what makes this all possible? Your bullet-proof database system, of course.
Hard work
There is no substitute for this basic strategy. Work hard and you will see results. If you find it difficult to work a long day, try getting to work just a half hour earlier every day, and leaving a half hour later. That will add 5 hours to your week which you can use to generate more business.
Ask for Referrals
Most of your clients, if you are doing an outstanding job, would gladly refer a friend, family member, or co-worker to you, but many times they do not even think of it unless you mention it. Don’t be shy after you have done a good job for a client, to directly ask them for a referral, you deserve it.
Be specific and ask for a referral from a specific group within your client’s circle of influence. For example, ask them if they have a co-worker who could use your services, or ask for a referral of a friend from their church if you know they are active in church. This helps your client focus in on a manageable segment of their circle of influence so they can more easily think of a particular person who could use your service.
Be Ethical
This last business building strategy seems obvious, but it has to be mentioned. You absolutely must do business in an ethical, honest manner, with the best interests of your client in mind at all times.
Run your business with a long term philosophy of repeat clients and word-of-mouth advertising in mind. If you are ethical, people sense it and will gravitate
Every company follows its own credit policy set by management. For some the credit period offered to the customer is a week while for other organizations it could be as long as a month. Problems start when payments are not forthcoming within the time agreed upon. This is when a company has to initiate the accounts receivable collection.Quite simply, it is the act of gathering payments for past due invoices, which is necessary in keeping a business running smoothly. Since a company expects payments from its customers, similarly it has to make payments to other companies or individuals such as creditors (for goods and/or services) or everyday expenses including interest, rent, and salaries.Accounts receivable collection is as necessary to a com
Be specific and ask for a referral from a specific group within your client’s circle of influence. For example, ask them if they have a co-worker who could use your services, or ask for a referral of a friend from their church if you know they are active in church. This helps your client focus in on a manageable segment of their circle of influence so they can more easily think of a particular person who could use your service.
Be Ethical
This last business building strategy seems obvious, but it has to be mentioned. You absolutely must do business in an ethical, honest manner, with the best interests of your client in mind at all times.
Run your business with a long term philosophy of repeat clients and word-of-mouth advertising in mind. If you are ethical, people sense it and will gravitate to you and trust you. With a loyal base of clients, you will eventually build a solid business that will withstand the test of time and provide you with a long term, rewarding career.
Triple Your Business in 2006?
It is my sincere desire that these strategies will help you achieve the kind of success I have had the past two years. My personal goal is to no less than triple my business in 2006, and after two years of seeing these systems develop, this goal seems very attainable. If you would like one-on-one coaching on more specific strategies I have used, please consider me a resource and feel free to contact me. Good luck in 2006!
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