Increasing Financial Abundance in Your Business: Part One
By Daniel MacIntyre
Part One: Sell your Cleverness: Solutions for Low-Cost Marketing
Many small-to mid-sized business owners spend a great deal of time thinking about ways to increase sales and generate more profit. They inevitably want to know: how can I sell more goods and make more money?
As an educator and consultant, I’ve been approached by many business owners who want to know how to increase sales and how to make more money. Many small business owners are convinced they’re doing something wrong and their lack of business is proof of their mistakes.
I’ve come to the conclusion that there is no one solution to fixing the problems associated with poor sales, but there is one thing we business owners do have a tremendous amount of control over: how they connect with people.
An ancient poet once suggested that we “sell our cleverness and purchase bewilderment.” In today’s language this translates into: be yourself (your best self) and be curious about and interested in other people. The best advice I can give to anyone who wants to improve their business is to practice this virtue on a daily basis.
Many of my clients have concerns about their marketing “strategy.” “They were obsessed with finding new approaches and tactics for attracting more clients and boosting sales. These clients were convinced that the solutions to their problems was somewhere “out there” and not within themselves.
On one occasion, when I was consulting with the owners of a new coffee shop, I asked how they were spreading the word about their new business. The owner showed me a list of advertisers and the cost of running various ads. He said, “I don’t get it. I‘m spending all this money on ads, but nobody’s coming in.”
I asked him if he had ever thought of closing his coffee shop a couple hours early each day so he could go out to speak with the community directly. He responded, “How do I find people who will listen to me?” I suggested he visit all the surrounding neighborhoods, and go door-to-door offering a free cup of coffee and an invitation to come see his new store.
Within two weeks of “inviting the neighbors” as he put it, his sales tripled. He continued this approach until there were lines out the door for the morning coffee run. He eventually discontinued his conventional advertising because he was reaping very little benefits from it. When he showed me the amount he was saving on advertising my jaw dropped.
He admitted to me that “the solution was easy, but I just had to stop convincing myself that it was complicated.” Marketing and sales strategies do not have to be complicated, but they do require one to step outside of their comfort zone.
If you’re a small business owner, the community is most interested in hearing from you directly. Customers want a face and a name to go with the new storefront in town. People are very loyal to people…not to a businesses. The next time you see your sales struggling, consider a low-cost, more personal approach. A simple handshake and an introduction go a long way.
Here are a few action steps you can take to increase your sales without spending more money.
- Be genuinely interested in your customers. Communicate with them as if they were good friends or close family members. Take a few minutes to make “small talk” about events in the community or even comment on someone’s baseball cap, etc. (“Oh, I see you are a Tiger’s fan.”)
- Schedule time to speak with other local businesses and people in the community. Join a community organization like Kiwanis, the Optimist Club or Food Bank You don’t need to “hard-sell” anyone. Just be friendly and offer something extra to each person who you meet in your business, such as having an employee carry a large bag out to their car.
- Keep detailed records on what marketing approaches yield the best results. Make sure you have a way to track your referrals and scrutinize your advertising budget and cut out anything that’s not working.
- Be excited about your business. People can sense your enthusiasm and will want to be a part of it. If you’re not enthusiastic about your business, nobody else will be.
There are many ways to increase profits in your business. I have given you some suggestions such as getting involved in your community, establishing a “connection” with everyone you interact with, and experimenting with some innovative and inexpensive ways to achieve financial abundance. Give them a try and reap the benefits!
Daniel MacIntyre is a faculty member for Cleary University and Northern Arizona University. He is the author of the books Anything is Possible; 91 truths about what is possible for your life and Daily Practices. Daniel offers coaching and business consultation through The Coach Connection and Get The Edge Consulting.