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hospital bedNot too long ago, I spent a few hours visiting a friend at the hospital. I noticed how the doctors gave her a prescription to take elsewhere to fill. Why is it that doctors haven’t figured out to put a pharmacy right smack inside the hospital? All day long they are writing prescriptions, why not sell the medicine too? The customers are right there ready to buy them. In fact, it’s even a hassle for them to go elsewhere to fill it. Why don’t they have a pharmacy or even put in something like a redbox medicine vending machine? Makes absolutely no sense. Doctors are literally letting money skip right out the front door!

But what about you? What are you letting skip out the front door? I am amazed at the amount of businesses that do not expand their horizons and add additional services, products or upgrades to their core businesses. You have related services and products that your customers are seeking and currently buying from. Why not expand and cash in on that market too? Your customers already like, trust and have purchased from you. It’s an easy sale! So what could you do for your business? You find other services or products that relate to your business and create new revenue from them. Not sure where to begin?

Lets jump back to the hospital to show you an example. If I owned that place, I would have a pharmacy/store that the patients had to walk through in order to leave the building. I would make it to where it seemed silly or abnormal to go anywhere else to fill that prescription. I’d be selling food and entertainment in the waiting rooms for the family. I might even have a service that families could order delivery of food. What about something like itunes that patients could purchase their favorite TV shows or movies while they recovered in their hospital beds? They have to lay there anyway, why not bring entertainment to them? I would have different levels of treatment patients could purchase and upgrade to. Ever notice how some people will always opt for the most expensive package they can get? Perhaps there would be V.I.P hospital rooms that were well decorated and had personal service for extra fees. I would have rooms or beds families could purchase to stay near their ill family members so they didn’t have to go home. See it’s easy, once you start getting the creative juices flowing.

What additional products or services can you add to your business?

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horseracingToday marks opening day for Keeneland here in Lexington, KY. Time for people from all over to put on their best, grab drinks with friends and bet on race horses. It’s a blast.

It has always been interesting to me that a racehorse that runs a second faster than another horse can be worth millions more. 1 measly second can be the difference between millions and a few thousand. In business it can often work the same way. When you go the extra mile to better yourself or your business, it can make worlds of difference to your customers or towards your success. Be willing to dedicate yourself to push forward even if it is a small degree in order to become better. It can mean the difference between success and failure. What is something you can you do right now to go the extra mile?

Success does not wait. If I delay, she will become betrothed to another and lost to me forever. This is the time. This is the place and I am the man. –Og Mandino.

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DMV lineEver wonder what might happen if entrepreneurs ran government agencies? Most of yesterday I spent attempting to get a tag for the new jeep I just bought. Here was my experience: having to drive 45 minutes across town to get to the DMV, waiting in crazy lines for two hours, required documents I didn’t have with me, necessary emissions tests I didn’t want to get, disgruntled random people, even more disgruntled employees and fees I didn’t want to pay for a piece of metal and a sticker. Frankly, the process was pretty terrible and inefficient. (Sorry about the quality of this picture… I didn’t want to be a creepo for snapping a picture of random people at the DMV. Basically the line stretched outside the building and was about a 2 hour wait.)

I can imagine it now. What if entrepreneurs took over this process? Can you see it? Perhaps there would be preset meetings instead of waiting in lines. Employees that strived to make the experience pleasant instead of looking at you like you ran over their puppy. There could be a higher rate to have someone just get it done for you without you having to leave the house. Imagine the possibilities.

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Steam_LocomotiveA train is strong on a railroad but If you took it off it’s tracks it would be weak and not get very far. Entrepreneurs are often like trains. You may be strong in one area, like the train when its on the tracks, but not in others. Perhaps you are creative in business ideas but terrible at organization. It’s okay. There is nothing wrong with it. No one is incredible at everything. Entrepreneurs often make the mistake of trying to do and be good at everything themselves. Often it ends up creating a situation where you can’t accomplish your goals. Learn to surround yourself with a great team that can handle the stuff you aren’t as good at. You can build up faster by focusing your talents on where they excel, rather than where there are weak.

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Jim RohnOne of my biggest inspirations is a man named Jim Rohn. His philosophies about business and life have had a profound impact on me. It is almost physically impossible for Jim to open his mouth without having pure gold come out. Anyway today is his 79th birthday. Jim, Happy Birthday. In honor of his birthday, here are a few awesome quotes by him:

Don’t wish it were easier, wish you were better.

Character isn’t something you were born with and can’t change, like your fingerprints. It’s something you weren’t born with and must take responsibility for forming.

Either you run the day or the day runs you.

Formal education will make you a living; self-education will make you a fortune.

Happiness is not something you postpone for the future; it is something you design for the present.

If someone is going down the wrong road, he doesn’t need motivation to speed him up. What he needs is education to turn him around.

If you don’t design your own life plan, chances are you’ll fall into someone else’s plan. And guess what they have planned for you? Not much.

If you go to work on your goals, your goals will go to work on you. If you go to work on your plan, your plan will go to work on you. Whatever good things we build end up building us. Quotes by Jim Rohn

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blueprintBELIEVE while others are doubting.
PLAN while others are playing.
STUDY while others are sleeping.
DECIDE while others are delaying.
PREPARE while others are daydreaming.
BEGIN while others are procrastinating.
WORK while others are wishing.
SAVE while others are wasting.
LISTEN while others are talking.
SMILE while others are frowning.
COMMEND while others are criticizing.
PERSIST while others are quitting.

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Burning Money (purpleslog, Flickr)Do This Right Now:

Step 1: Pull out few hundred dollars.

Step 2: Light them on fire.

Now, most likely you are thinking that I am a nut job for telling you to do this. The truth is that you are doing this already. You are literally grabbing wads of money and just lighting it on fire. Most companies are doing this because they do not know what marketing is exactly.

So to help, here is my definition of marketing: Incorporating all aspects of your business into convincing someone to know, like, trust and buy from you on a regular basis. Marketing is not just sales, ads or getting customers. It’s customer support, employees, customer relations, accounting, sales, advertising, cleanliness, and the 8 million other things it takes to keep a business running smoothly. When you do not consider these other factors into your marketing, you can lose customers. If you have a horrible tech support staff, customers will hate dealing with you and find another company that treats them better. If you have a dirty restaurant, people won’t want to eat there. If you don’t ship things correctly, customers will buy somewhere else. Marketing is not as simple as you would expect. It’s more than the ads your company produces. Marketing is everything. In your business what other areas besides ads and sales can you improve your marketing?
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IMG_0078IMG_0079You don’t have to get stuck with just online facebook ads or luck with people finding you when promoting your social media pages. Why not promote them offline as well? You see everything your company does is marketing in some form or another. Whether it’s sending a bill or delivering a product, it’s all delivering a message to your customers about your brand. It’s all marketing. In this picture, we see a great example of this by Express clothing’s marketing department. They promote their social media websites directly on their bags! It encourages their customers to interact with their company. A tip of the hat to you Express. Why not use other areas of your business to integrate your marketing?

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What Is In It For Me?

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think!Not too long ago I was shopping for a computer. I went to several locations and talked to several people. I noticed the same sales and marketing mistakes at all of the locations. These stores could spout off all of the great features and how one was faster than the other, but they didn’t focus on the one thing that mattered to me most: WHAT IT COULD DO FOR ME. Why didn’t they ask me what I was going to be doing with it? Why didn’t they ask me what I wanted to accomplish with it?

Consumers today do not care about features of your product. They care about benefits and how those features make them feel. They care about how the features are going to benefit their lives. Does it make them happier, more productive, sexier etc. Honestly, they only care about themselves!

Stop selling features and start selling benefits. To help you get started here is an example:

Feature: 500 Gig hard drive.

Benefit: With a 500 Gig hard drive you can never lose those family memories of your son playing baseball again. Or with a 500 Gig hard drive you’ll never run out of space for your music.

You want the benefits to paint a picture in the person’s mind about your product. What want them to see themselves using the product and it making their life easier, better, more productive etc. By selling benefits over features you are hitting areas that matter to that individual person and it gives them an emotional connection with your product or service.

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