Business

Money, Success, and Growing a Profitable Business

Like you, I've invested a lot of money in my education. And the investment has paid itself many times.

However, it's also cost me money. Why? Because I've found the 'gurus' don't always teach what works. Or they reveal only a fraction of how to apply a strategy. So I made a commitment that I'd never assume anything, ever again. I'd test the idea for myself…and then let the results speak on their own merit.

The up-sell mistake that cost McDonald's millions

As you may know, up-selling is a quick, easy and free way to bump your average dollar sale by between 15% to 25%. McDonald's added hundreds of millions in profit by asking customers “Would you like fries with that?” However, they cost themselves way more in lost sales—and you are too if you're making this critical up-sell mistake. That's because asking an up-sell question is only half the formula. The other half is how you ask it.

Instead of McDonald's staff asking their famous question, they'd have made more money asking “Fries with that?”…and raising the pitch of their voice towards the end. Why? Because this keeps the customer in right brain, emotional buying mode. By asking “Would you like fries with that?” the customer enters left brain analysing mode, and is more likely to say “no.”

3 magic words that double sales

Did you know you can double sales by greeting customers with three magic words? It's true. Say to people “I trust you are well today” and, on average, 16% purchase. Ask customers “How are you?” and 33% purchase on average. That's over double the sales!

Why does this work? Commitment and consistency. If we state that we're feeling good, and have committed to that, there's less excuse to say “no” to a request. That's why you must make your customers feel good.

Write clearer, sharper sales copy instantly

As you may know, the copywriting experts tell you to “write as you speak.” So your sales copy is conversational, and it flows. But if you're not experienced, it's tough to write as you speak because it's not how you were taught in school.

Here's a better way: use the 'follow the thread' trick. What's the 'follow the thread' trick? I just used it! Can you see what I did? If not, here it is again: the secret to writing better, clearer copy is to pick up a keyword from the last sentence and carry it through to the next. By picking up the keyword and carrying it through, readers can follow what you're saying.

The truth behind goal setting

Ever set goals? Sure you have. So you know that writing down your goals is extremely important. And you know that almost every self help guru says to write down your goal. But have they ever told you why? If your experience is like mine, you've been told, “writing it down makes it appear real to your mind”…or “it commands the Universe to give what you ask for,” and so on.

I don't like answers like that. So I went out and researched the truth for myself. Writing down goals works because it stimulates your brain's electrical charges to fire 420% faster. The secret lies in the reticular activating system (RAS).

The RAS is why you buy a new car… and then see other people driving the same model wherever you go. The RAS is also the mechanism that lets you spot new money making opportunities… leverage business relationships in new ways…and create new ideas to grow your business. Activation of the RAS requires high states of brain activity… and writing the goal induces these higher states. This is why you can't just imagine your goal in your mind. You need to write it down, over and over again. Doing so makes your brain go into overdrive and seek out ways to make it reality.

Sharon Pearson is the founder of The Coaching Institute and the Small Business Mastermind Club.
smallbusinessmastermindclub.com.au


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