Mal Emery’s War on Recession Boot Camp in Sydney – Day 1
By 10:30 am on day one there was literally standing room only and the attendees were having ‘ah ha’ moments as Mal revealed the BIG ROCKS and KEYS to success in business… Mal went on to describe the success of his clients, and using them as examples, he states that 5% of the room had the resources to buy and sell the remaining 95% – these stats have not changed for decades and that’s simply because most people are not prepared to do what it takes to be in the “5%”.
Maths and Psychology
You need to become the authority figure in your niche, the guy on the top of the mountain. Market to your prospects by addressing their fears, wants, needs and desires. You need to be treated like and king and obeyed like a heart surgeon in order to dominate your niche. You can’t substitute good math with bad psychology, and you cant substitute good marketing for bad maths.
The Opportunity to Make Money
Turn your business into the opportunity for your clients to make money – this is the best game in town.
Wagons in a Circle
Most businesses look at each other and copy the same old crap from each other. They get sucked into institutional marketing wonder where the clients have gone. Everyone who makes alot of money defies the industry norms.
The Truth about Wealth
Australia is now the 3rd fastest Millionaire making country. When Forbes magazine studied 400 billionaires and they noted:
- 173 started with nothing
- another 100 had nominal recourses
- most made their billion from scratch
- they didn’t sit around waiting for the money to show up
It’s your duty to be rich – so you can help others that will never have the opportunities that you will.
His Story So Far
Fired at 23, he took Owen McGrath as a mentor and went to work in a hardware store. Mal was a ‘doer’ and after selling the hardware business years later looked for his next opportunity. With $17,000 in the bank he moved on and bought and sold 20 more businesses and figured out the formula. Always a marketer, he had the businesses systemised and turned around for profitability.
Mal changed direction at 41 and began teaching others how to buy & sell businesses. He stopped working hard and worked smarter, with time for his family and life.
His early speaking gigs resulted in him almost fainting… yet he overcame that and has reached the top of his game.
Do Your Ducks Line Up?
It’s all about self-help. You’re the key to your own success. There is no point in waiting until all your ducks line up, get started with what you have now. Be the only choice, or ‘perceived choice’ of expertise to your herd.
Why Should I Buy From You?
If you can answer that better than your competitors then you have a chance. If you just think “we’re better” or “we give good service” then maybe you should go find something else to do as your competitor think and say the same. Are you a cog or a clog in your business? Think leverage. Its all about growth and speed.
Ninth Wonder of the World
If Compound Interest is the eigth wonder of the world then selling ‘forced continuity’ plans is the ninth! Sell your product or service on a recurring basis every month until the client cancels or dies. Getting a new client is the most expensive part of business. Do you know how to keep selling to your clients, for free? Remember that Proactiv (the pimple cream) is a $500m business!
Marketing Leverage
The Marketing Triangle is based on Right Message = Right Media = Right Market. No Messaage = Name rank, serial number, and wrong message = plain vanilla, me too.
If you want impact then you need strategic repetition. The most futile, wasteful, thing you can do is 1-shot advertising. After the first contact with a prospect 50% of sales people give up. After the 2nd contact 65% have given up, and 89.8% of sales people have given up contacting a client after the 4th contact.
Million Dollar Marketing Makover Winner
The winner of this $100,000 prize was Melissa Daniels. Melissa took the stage with Mal and Bret Thomson for a hot seat examination of her business. Bret dug deep to get the story behind her business. The results of this makover will bve presented tomorrow.
More one the ’shock and awe’ pack, lumpy mail, tear sheets and much, much more….
Quick Fix Marketing Strategy #7 -Accountants
Offer an entire year of professional services for a flat advance fee -tax planning, informal or formal audit, etc.
Offer free consultation to custom-design a plan to your customers’ special needs from an entire menu of your available services.
Mail out regular newsletters, explaining the latest wrinkle in the tax laws and how it affects them, and making a specific offer or recommendation. Give good books on investing -or any topics related to the business of living – just to build goodwill. Don’t forget reciprocal endorsements with kindred professionals, either on a name-for-name basis or for a percentage of profit.
Quick Fix Marketing Strategy #6 – Airconditioning and Heating Services
Your competitors probably come out on a call, repair the unit, and go away. The customer never hears from them again.
You should call your customer the next day to be sure the job was done right. Send a warm, personal ‘Thank you for choosing my company’ note, reminding them of your commitment to follow up on every job, your 100% guarantee on all repair work, etc.
Also, then offer them a 24-hour-a-day, seven-days-a-week service agreement. Explain how there is no extra charge for weekend or holiday service. Offer twice-a-year, complete maintenance checks absolutely tree. Just a simple pay-by-the-month subscription will buy them peace of mind.
This will help your business because it shows your concern and gives the customer peace of mind. Also, it locates potential problems before they turn into expensive, inconvenient emergencies. Early detection for preventive maintenance will generate more than enough money in scheduled repair charges to pay many times for the cost of the ‘no charge’ tree maintenance checks. The best part is that YOU get to schedule the twice-a-year maintenance checks during your slow times thus keeping your staff occupied around the year.
Quick Fix Marketing Strategy #5 – Advertising Agencies
Most agencies are content to run the same old ads, collect their 15% commission, and leave it at that.
But you can build a money machine by engineering a PI (Per Inquiry) deal for a percentage of the profit, by using direct-response advertising, specific irresistible offers, testing your headlines, engineering joint ventures, and applying my marketing concepts.
You can turn your advertising agency into a ‘marketing agency’.
Quick Fix Marketing Strategy #4 – Quick-print Shops
Here’s a simple, powerful way to make a quick-print shop grow like crazy.
>>> Offer free pick-up and delivery.<<<
Hire sharp-looking men and women to pick-up and deliver to local-area businesses, paying them by the hour or giving them 10% to 15% of the job. Offer your customers an open account.
Guarantee delivery: If a job is picked up by 11:OOam, it’s back by 4:00pm (or if it’s picked up by 4:00pm, it’s back by 11:00am the next day). No IFs, no BUTs, no fine print or weasel clauses. Just guarantee your service.
You’ll expand your business exponentially in all directions, all on contingency, with no increase in fixed overhead!
Quick Fix Marketing Strategy #3 – Office Supply Stores
Just about every marketing principle I teach can be applied to an office supply store. It’s a veritable goldmine of profits if approached properly.
The absolute first thing you should do is capture your customer’s names and addresses. Almost none of the office supply stores I’ve ever been in do this. They just take your money over the counter and that’s it. Once you get your list together, mail special offers to those customers. Remember – your current customers are your best prospects for future business. Before you try to get a new customer, sell to an existing customer first.
When you’re ready to do some ‘prospecting’ to find new customers, the most effective medium is direct mail to smaller businesses in your market area. Offer a free calendar or paper clip holder to anyone who comes in by a certain date. Hire people to give free delivery on regular routes to local area businesses for 10% to 15% commission. Use eight to twelve page catalogs for your customer list, with advance notices of special offers. Set up joint ventures with a local print shop to mail to each other’s list.
Read my Quick-Print Shop example. Try using the same young men and women to pick up and deliver for both you and the printer.
By ‘piggy-backing’ your distribution, you’ll help ensure more loyal, prosperous employees, since they’ll make more money doing ‘double duty’ for both of you.
Quick Fix Marketing Strategy #2 – Travel Agents
Most travel agencies simply react to their clients’ requests. Instead, develop a proactive marketing strategy by regularly contacting clients to determine their future travel plans, geographical areas of interest, preferred modes of travel and any special needs and desires. At least 50% to 80% of everyone’s travel needs are known to them in advance.Keep careful, detailed records on each customer/prospect.
If you can make advance recommendations to clients in a way to save them money, time, last-minute panic, and overall grief, don’t you think they will favor you with most or all of their travel business?
Quick Fix Marketing Strategy #1 – Bakeries
Try these powerful strategies to increase your customers:
- Mail to your local area, offering free samples of your special Bread, ‘homemade’ apple pie or cheesecake.
- Set up a free drawing for a special cake, a dozen of their favorite donuts every week for a year, or whatever.
- Use a huge sign in high-traffic locations to announce ‘Free Cheesecake’ to stop traffic and pull in the crowds.
- Capture names, addresses, and birthdays of all family members. Send a letter with a special birthday cake offer. Give special offers for weddings, graduations, catered parties, etc.
You’ll be amazed at the amount of front-end traffic this will bring you. If you deliver quality goods, they’ll come back again and again.