Investing In Yourself…and Business

wallet, no money, marketing
Marketing dollars?

How much should I invest in myself or my business? First off – you should have money to market your business and / or yourself.

Do you have a sales budget aka how much revenue do you expect to make this year? What’s your salary? What’s your expected commission?

Good. You have that number. Now – at a bare minimum – take 2% of that number. There’s your marketing budget. It would be best to have 10%, but let’s start with 2%. The same goes when trying to figure out how much to invest in yourself.

Oh you don’t invest in yourself? START!

Read a book, invest in a course, invest in a gym membership, a magazine subscription…do it.

So you have a budget now. What do you do with it? Whether it’s $500 or $500,000 find as many things as possible that you can own.

What do I mean?

Marketing dollars are often spent throwing money at this thing, and that thing. IT’S BETTER TO OWN SOMETHING! Take your $100, print some sales letters (here are some of my personal B2B examples) or brochures you did up in Word, and deliver them to every single apartment in the complex beside your business (or to every house on a street located near your business). Then do it again a week or two later. You need to hit as many people over the head with your message. The tricky part is ensuring the message MATTERS TO THEM. More on that here…

(Remember – I don’t give a shit about you, until you can do something for me. Whether it’s nourish me, allow me to keep extra jingle in my jeans, or help me out in some way, shape or form.)

You need to do this repeatedly. SOOOO many of you try something out once, don’t see results, and then say, “Well, that didn’t work.” Of course it didn’t work. Repetition Repetition Repetition.

Remember how you were taught in school? It probably went something like this… At the beginning of the class (or semester) your teacher would tell you what they were going to teach you, then teach you it, then review what they taught you. Repetition Repetition Repetition.

This is how our brains have been programmed since kindergarten, so start using the philosophy in your marketing. Find something you can own. Then repeat repeat repeat.

It sometimes takes me 12 – 15 contacts until I make a sale. I repeat, repeat, repeat my process. And you know what, when I call, walk into an appointment or see one of my prospects at an event…they immediately KNOW WHO I AM. It should be the same way with you and your business.

If you’re buying radio ads (for example), and you don’t have money to throw around like the ‘big guys’, again find something you can own. Maybe it’s an hour every Monday over the next few weeks. Maybe it’s an entire week. Whatever it is, find something you can own, then repeat repeat repeat.

1) Find money or find time to focus on marketing
2) Find something you can own
3) Repeat Repeat Repeat

Tell me ONE marketing opportunity you have at the moment (print, direct mail, radio, tv, social media, whatever…) and leave it in the comments below. I’ll tell you how to EXPLOIT that opportunity with repetition. I’ve purchased nearly every type of media, and used as many media channels as possible to further the brands, and people I work with (including myself). For being a loyal reader it’s the least I can do.

Love you,

Jordan ‘The Guy With The Bow Tie’ Rycroft

Ps. If you didn’t catch this further up the page – check out my personal one pagers I hand out or leave after a presentation.

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Start Using This Sales Tool Today – “How Do I Get To The Next Level?”

next level, ladder, climb, business

It’s the climb…

How many times have you heard “Needs Analysis”? I used to hear it daily, as this was always on my sales manager’s mind when it came to meeting with any prospect. I used to have a laundry list of questions, 9 times out of 10, supplied to me. “These will help get you closer to closing the deal,” said the sales manager. Meanwhile, my eyes were rolling so hard you would have thought I was dead.

Your prospects time is limited. If you’re able to get in front of them (in person, video chat, phone, whatever) don’t waste your time going through a laundry list of questions that makes it seem like an interrogation. Hit ’em with the Force Field Analysis, and maybe just maybe they’ll give you a hug.

Within minutes you’ll put the focus on your prospects business and you will immediately uncover their pain points. It’s the fastest Survey Monkey survey ever. At the very least, you’ll position yourself as a sales person who’s different and an ally for your prospect rather than a nuisance. 

This is also a great way to qualify your prospect. Maybe what their business really needs is something you can’t offer them. This gives you the chance to part ways amicably. This could also open the door for you to refer them to someone you know who can help them.

Best case scenario – it opens the door for you to help them out and get closer to signing the deal.

Force Field Analysis, Guy With The Bow Tie, Jordan Rycroft

Action step: Test out the Force Field Analysis on yourself. 
Take a piece of paper, and draw a horizontal line. Mark it as “Day 1.” Then draw three arrows going up from that line, and draw another line. Label it “Today.” Then ask yourself, “What are three things that took you from Day 1 to where you are today?”

Then draw another horizontal line above the “Today” line, and label it “Next Level.” Draw three arrows down from this line, then ask yourself, “What are three things preventing me from getting to the next level?”

This will clear your mind, and allow you to focus in on what’s really important. Then circle one of those items you wrote down that’s preventing you from getting to the next level and devote your time to it. Maybe it’s investing in yourself, which you’ve already done by doing the Force Field Analysis. The Force Field Analysis may not be the right thing for you, but I’ve found it to work time, and time again for my clients and myself. I’ve even done it on the back of a golf scorecard and on a napkin at a pancake breakfast. You can damn near do it anywhere, which makes it an excellent tool for your sales toolkit.

If you need more direction on this or if you’re stuck trying to analyze yourself – shoot me an email at effumarketing@gmail.com. Or leave a comment below. I read every message, and I’d be happy to help, as long as you aren’t an asshole.

Love you,

Jordan ‘The Guy with the Bow Tie’ Rycroft

PS. If you want more tips like this direct to your inbox – sign up for my newsletter below.

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Why Your Online Store Isn’t Making Sales

This is a common question I see on message boards and through the grapevine of entrepreneurs. It also is a cause for concern in the bricks-and-mortar world, but let’s stick with online.

Anyone, anywhere can have a store. No longer do you need vast sums of money for a lease, employees and stock. You can do everything behind a screen. With that – the amount of online stores hawking goods from dresses (EverRose.com – plug, plug) to backpacks to cheeses is endless. The world is flat in this regard. However, just because it’s relatively easy to set up. It doesn’t mean it’s profitable.

no sale, no sale sign

Here’s why you’re not making any sales

1) Your online store is too cumbersome. You’ve read too many blogs about what you should have on your store, and instead of creating a simple process for those who buy – you’ve confused your would be buyer with link after link after link. Your product(s) should be the first thing people see when they visit your store. You should also have some info on shipping and returns, and a page that reflects who you and your business are (if you want to add a personal touch).

2) Your product photography looks like crap. You can’t sell a shitty looking product online, just as you can’t sell a shitty product. Here are some quick DIY photo tips.

3) No one knows you exist. I hope you’ve read this far as this is probably the most important item on the list. You can’t expect sales without people knowing about you. You need to market yourself. Hook up with bloggers or influencers in your line of work. My wife and I hook up with fashion bloggers to promote our product to their masses. We also buy advertising (funny thought), and it works.

4) If you have traffic to your site, and you’re still not making sales – check the options above. If you’ve done all of the above then you probably didn’t research your product upfront. If you haven’t tested to see if your idea works through family friends, then your idea is probably not going to work to others. Just because you think it would be cool to run an online t-shirt store, it doesn’t mean people are going to buy from you. Ask your friends and family first – see if they would buy. My wife and I’s online dress shop did this, and our first few customers were family and friends. From there the word spreads.

The above should point you on the correct path. I could write an endless post on why you aren’t getting sales, but the points above are the most common reason. You can always ask me to take a look too. I’m always free to give open and honest feedback.

Love you,

Jordan ‘The Guy with the Bow Tie’ Rycroft