Beginning With the End in Mind

When we talk growth I suspect that most of you envision selling more new equipment. I appreciate that view. A couple of years ago a distributor that represented 18 different manufacturers told me that I’d be his friend for life if I could figure out how to keep those manufacturers from calling him all the time.

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The Payoff

 I don’t know if you have ownership interest in your business or not, but I do in mine. As an owner my focus for years was on maximizing sales transactions and the more of them the better!

Then one day it dawned on me that a sales transaction was really only a one-time event. You got a lead, you survived the competition, you got the customer and your reward was a single sale. If my goal really was to increase revenues and business equity then I needed to make a change. I discovered that if I flipped my focus I could reach my goals faster.

Instead of focusing on customers in order to generate sales I focused on sales in order to generate customers. I could reach my goals faster because customers have the potential to generate streams of future revenue, rather than a one-time sales event. By focusing on my most Ideal Customers I could reduce sales expenses while maximizing revenue.

I’ll be selling my interest in the business in a few more years. While the assets on our balance sheet will form the basis of the selling price, the life time value of our customer base will have the greater value in the final valuation of my business. If you want to increase the value of your business, start focusing on customer acquisition, rather than transactions and increase the value of each customer, and the final valuation of your business.

We are Growing Marketshare 365 and we are the largest provider of Unlimited Exclusive Leads to equipment distributorships throughout North America. If you are ready to have a conversation about how we can collaborate with you to substantially increase your distributorship’s revenue growth, click here.

 

Content Marketing

 On May 6, 1999, Simon & Schuster released a little book written by Seth Godin. The book was entitled, Permission Marketing. The idea behind the book was that the most efficient way for a business to grow was for the business to first seek permission from its prospects to engage with them. The central idea behind the book is that a business can turn its prospects into friends and its friends into loyal, long-term customers. People buy from people they know, like and trust.

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People Buy From People and They Buy From People They Trust

Are you as trusting of people today as you were 25 years ago? I’m not. As dishonesty, shortcuts and greed have increased, trust has become more and more scarce. Yet the trust of your customers and prospects is an essential ingredient for growing your distributorship’s marketshare. How important is trust to you when you make a major purchase?

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The Recipe for Growing Your Distributorship’s Revenue

Question: What does revenue growth and baking a cake have in common?

Answer: A recipe is required to succeed at both.

Distributorships often make the mistake of trying to increase revenues with a one-ingredient recipe. That single ingredient is new equipment leads. That’s like trying to bake a cake with just flour. Based on volume flour is the most important ingredient, but if that’s all you put in your cake pan you’re going to be disappointed. If new equipment leads are all you’re using to increase revenues you’ll end up continually disappointed.

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$16 to $1…Your Choice


 What does that mean, you ask? It’s a concept and the foundation of growing your distributorship’s revenue.

Most of the people who read this growing idea will be familiar with the Pareto Principal, or as it is more popularly called, the 80/20 Rule. Few, if any, have ever put a pencil to it. If they had, and applied what they learned, they would likely have understood how to achieve substantial revenue growth.

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