The 'ups and downs of business' is a lie. Let's smash this lie today!
“Paul, I feel 'ups and downs in business',” you say.
“It’s hard enough to start a business, let alone guarantee consistent workflow.”
I hear you. You are feeling out of control. One day you are making good money and the next week struggling to pay wages.
How do you start a business and always have it grow?
You will need the ‘Six ‘B’s’ of consistent business’ system.
The ups and downs in business.
Hi, my name is Paul Johnson.
I’m the founder of Missing Piece Marketing. It’s the top destination for those asking how to start a business and actually make money.
May I tell you my story – it should help clear the fog (before I get into the ‘Six ‘B’s’ of consistent business’ system)
Seven years ago I started free one-on-one business assessment questionnaires. I wanted to find out how I could help business owners as a mentor and coach.
The questionnaire had 18 questions. It included:
how big their business was;
how they got new business;
whether they felt business ‘ups and downs’;
what mix of size clients they had;
whether they were owed money and
what things ‘bugged’ them about being in business for themselves.
Every owner said they learned a lot from being involved in the survey. They enjoyed the chance to work ‘on’ their business instead of ‘in’ it.
I conducted 1,000 (yes one thousand) of these assessments. I built a database of business owners who enjoyed getting ‘inside tips’ on how to grow their business. Some of them took my courses in marketing and customer development.
I showed them how to get free advertising and how to make it pay - bigtime.
Let's smash the myth of ‘ups and downs’ in business, once and for all!
It's a lie.
The so called 'ups and downs' in business do not exist - you control them.
The most common complaint I got from business owners was:
“Oh, I wish we could get more consistent work!”
“We are making a fortune one month and scratching to pay wages the next.”
This complaint came from 85% of all business owners.
15% of owners said they never experienced ANY ‘ups and downs’ in business. Why was that?
I dug deeper into the research. For a business to avoid ‘ups and downs’ they needed to follow what the 15% of business owners do:
‘The six ‘B’s’ of consistent business’ system.
The following ‘Six ‘B’s’ revolve about achieving ‘balance’ and having ‘ballast’.
If you miss any one of the ‘six ‘B’s’ you will hate the rollercoaster ride of inconsistent workflow.
So what is the ‘Six ‘B’s’ of consistent business' system?
I know you will feel like a ‘world beater’ when you get your first big client. The ‘$’ signs glow from your eyes and you may begin planning your next overseas trip.
Unfortunately having a client that gives you 10% or more of your total business is a risk. Why? You begin to gear up to serve the needs of that client. You put on extra staff to handle the work. You increase your inventory to cope with demand.
You are at risk of losing all this, if you lose this client. You may have borrowed money to cope with the expansion. How will you pay it back if some competitor comes in and undercuts you.
You will feel comfortable with the work orders flowing in and getting paid on time.
Have you heard of small businesses who go broke because a big client didn’t pay them?
Of course you have. When big customers have cash flow problems, they can stretch out your payment terms. (You do have payment terms on your invoices, don’t you?). Your invoices will go from 14 days to 30 days then way out to 60 days. They will be holding large sums of your money and you haven’t got enough to pay wages.
It’s not a pretty picture but you’ll get a better picture when you click here and read the report.
What if all you have in your business, is small clients? What’s wrong with that?
You will be on the rollercoaster of ‘consumer confidence’. It’s driven by the media and economists. When they say ‘confidence’ is ‘up’, people spend. When things sound ‘shaky’, people don’t.
Get the whole story here.
“My ’Growth Ballast’, what’s that Paul?” I hear you ask. You’ll get the whole story when you tap/click here (It takes you to the complete report).
The ‘Growth Ballast’ is a trick only a handful of business owners use. They take advantage of the imaginary ‘ups and downs’ in the business world.
When ‘things are quiet’, most businesses look around to find ways to cut back their spending. Most cut back on their advertising (or the hold they have on their market share).
Learn about your Market Share.
Your ‘Growth Ballast’ is the cash you have saved up for when people think ‘times are tough’. This is your ‘rainy day’ money. When your competitors let go of advertising you can do what they are not doing. You can INCREASE your advertising spend (at the right time) and grab market share off them.
Check out the whole story here.
Remember when milk sold for $2.60 to $3.75 per litre? Then we had a supermarket war and they dropped their price to $1 per litre.
Do you think the supermarkets just absorbed that price cut? No. They increased women’s hygiene products, vinegar and toothbrushes – and nobody noticed.
The supermarkets aren’t stupid. They know they have high profit lines and those they have to sell at a discount. They spend their money promoting their high profit lines to balance things out.
Don’t run a business on high turnover with low margin products or services. You will be on the edge of your seat watching your costs and the market forces.
Promote your ‘premium’ and avoid the so-called ‘ups and downs’ of business.
Tap/click here to get the whole report.
Yes, I said free marketing. Here is a video of one of our 3X3 System graduates who gets ALL his new business from this simple system.
Do you have a system for you and your staff to ask for referrals from every happy client? Requests for referrals can be gentle and inoffensive. As you know nothing beats a referral – you always win those quotes, don’t you.
I discovered that most businesses have a high proportion of either small or large jobs. They felt the so-called ‘ups and downs’ of business.
Businesses with 90% small jobs and 10% large jobs were in trouble. They were making a fortune one month and scratching to pay the wages the next. Those firms who had 60% large jobs and 40% small ones were no better off. They still experienced the roller-coaster ride, but it’s not as violent.
Those who had 50% big jobs and 50% small jobs said they had never known ‘ups and downs’.
What ever happened to getting some ‘mid-sized’ jobs to balance things out? Why not some work for nursing homes, a golf club or small office blocks?
Most people say that it’s too hard to get in to these sized companies. They say they can’t get past the receptionist or the decision maker’s assistant to meet with him.
Here, is a video of a plumber who boosted his business by $1.7 million and added four new staff.
Here’s the one that will seem difficult, but will enable you to sleep at night and improve your marriage (trust me - it works).
Do you have a ballast of cash tucked away to see you through any unexpected economic shifts?
The key here is to develop a ‘new broke point’. Imagine having three months’ worth of your cash flow needs tucked away in a separate account. You never touch that cash. You can call today’s working capital your ‘new broke point’.
How would that ‘kitty’ make you feel? Get the whole story - click on this link.
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