- Admin
- #4
MJ DeMarco
I followed the science; all I found was money.
Staff member
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
1) Most of your customers will lie. (Checks in the mail, etc.) Even though you know it, don't call them on it.
2) The customer is not always right, but you should always make them "Feel" right - if you can't make them feel right, fire them.
3) Fire your bad customers. Not all customer's are worth their hassle and should be dropped. I've had many clients who would spend hours of our time, and their value to our organization was a measly $15/mo. Every month was a huge drama-infested ordeal. We dropped them among many others. A lot of publications are now addressing this concept of firing your bad customers.
4) The best advertising is word of mouth. Your product should be its best salesperson -- with that behind you, your business will save thousands in ad costs and will grow like a weed.
5) Spending $1 to save 40 cents is foolish and doesn't justify a new expense. I'd hear this argument frequently - "Its tax deductible!" to which I'd respond "Ok, then you give me $1 and in return, Ill give you 40 cents.... deal?" "Tax deductible" is a benefit to owning a business, not an excuse to spend foolishly on unproven advertising venues.
6) Do diligence on your ad media - countless times I was approached to advertise on various websites. Diligence would reveal they were sparsely trafficked and not worth the effort. Nothing is worse than paying $x,xxx/mo only to discover the website gets 100 unique visitors monthly.
7) Focus more on your own business than worrying about what your competition is doing. I've found that a lot of business owners will spend countless hours on competitive intelligence ... instead of wasting those hours on your competition, put them into your business -- into innovation and new ideas. Be a leader, not a follower. Knowing what your competition is doing is important, but not as important as the innovation you need to bring to your respective industry. If you find yourself spending more time analyzing your competition than you do with your own business affairs, you will never be #1 - only a "me to".
Great topic!
2) The customer is not always right, but you should always make them "Feel" right - if you can't make them feel right, fire them.
3) Fire your bad customers. Not all customer's are worth their hassle and should be dropped. I've had many clients who would spend hours of our time, and their value to our organization was a measly $15/mo. Every month was a huge drama-infested ordeal. We dropped them among many others. A lot of publications are now addressing this concept of firing your bad customers.
4) The best advertising is word of mouth. Your product should be its best salesperson -- with that behind you, your business will save thousands in ad costs and will grow like a weed.
5) Spending $1 to save 40 cents is foolish and doesn't justify a new expense. I'd hear this argument frequently - "Its tax deductible!" to which I'd respond "Ok, then you give me $1 and in return, Ill give you 40 cents.... deal?" "Tax deductible" is a benefit to owning a business, not an excuse to spend foolishly on unproven advertising venues.
6) Do diligence on your ad media - countless times I was approached to advertise on various websites. Diligence would reveal they were sparsely trafficked and not worth the effort. Nothing is worse than paying $x,xxx/mo only to discover the website gets 100 unique visitors monthly.
7) Focus more on your own business than worrying about what your competition is doing. I've found that a lot of business owners will spend countless hours on competitive intelligence ... instead of wasting those hours on your competition, put them into your business -- into innovation and new ideas. Be a leader, not a follower. Knowing what your competition is doing is important, but not as important as the innovation you need to bring to your respective industry. If you find yourself spending more time analyzing your competition than you do with your own business affairs, you will never be #1 - only a "me to".
Great topic!
Dislike ads? Remove them and support the forum:
Subscribe to Fastlane Insiders.