If I don't eat when I am hungry, then I'll die...
What my 5 year old son knows about business that most business owners overlook. And how you can start growing your business exponentially.
Last night, my 5 year old son taught me an important business lesson...
You see, in our house putting the kids to bed is my responsibility. Sometimes it goes well...last night it didn't.
Around 8pm, I told my son "Ok buddy, time for bed."
"No, I'm hungry dad."
This of course just minutes after he had eaten his evening snack.
So I told him, "Kitchen's closed, no snacks after 8pm."
Now, if you've ever dealt with 5 year olds, then you probably know what happened next.
After about 10 minutes of him shouting "Hungry means hungry" and "If I don't eat when I am hungry, then I'll die" repeatedly...I finally gave him his snack.
In the end, he won this battle. But...I was not happy. I sulked off to bed, angry and frustrated.
You see, it's not about this one time.
Rather, now that he knows he can delay his bedtime by demanding a snack...he has another arrow in the quiver of bedtime delaying tactics (others which include needed a plaster for his toe, wanting to drink water, wanting more/less light in his room, wanting me to cut his toe nails...the list goes on).
Having a whole range of options for delaying bedtime works well for him...because if one tactic fails, he always has another one. His bedtime delay system is built on solid pillars.
Most business owners don't understand this simple concept.
Most businesses are built on only two strategies - one way to get prospects (for example, a website ranking well on Google, or a Yellow Pages ad), and then one way to convert those prospects into customers (for example, in-store sales people or receptionist).
But having only one way of doing things exposes you to extreme risk - if anything goes wrong with the way you do things, you don't have any other options.
It also makes it very difficult to grow...because you can only optimize one strategy so much before you start hitting diminishing returns.
The key to fixing this is to develop a marketing system that leverages multiple marketing and sales pillars
Pillars like Unique Selling Proposition, Database Marketing, Alliance Marketing, Community Outreach, Direct Marketing and Internet Marketing.
Leveraging all of these pillars into a repeatable marketing system unlocks exponential growth in your business, because each pillar either helps generate warm prospects, converts those prospects into loyal customers, or increases the lifetime value of each of your customers.
How do you implement this marketing system into your business?
In today's email newsletter, I shared the first question you need to answer to start creating a marketing system like this for your business.