Thursday, September 07, 2006

Lead Generation: The Marketing Rule Of 10 x 10

Have you ever wondered why some businesses thrive and other business owners struggle to survive day after day just managing to pay their bills.

Now if the statistics are correct 80% of businesses fail in the first 5 years, then this could quite possibly be you.

Let’s face it, when someone first goes into business it’s usually for one of three reasons:

1. They just received a huge pay out from somewhere, maybe an inheritance, redundancy package etc.
2. You’ve lost your job and can’t find another one or you don’t want to find something else so you figure it’s a bout time you work for yourself instead of making someone else rich.
3. You think your boss is an idiot and figure, guess what… I can do a better job than this guy. FYI. If you already employ people then guess what they are thinking J

Anyway, so you decide to go out beg, borrow and steal as much money as you can and instead of working for an idiot, you know work for a lunatic: yourself!

I have seen it time and time again working with business owners; the problem is they don’t plan enough to really make a success of their chosen business.

In fact they kind of just fly by the seat of their pants, putting out fires as they go.

I’m getting a little off track at the moment so I’ll get to the point.

We’ve all heard the wealth guru’s talk about creating multiple streams of income in your life. The problem is most people only have one: their job.

And remember what that stands for…Just Over Broke.

But the same thing applies for your business, most people have only one way of generating new customers and it’s usually the yellow pages.

But guess what happens if that strategy fails to pull enough new clients to sustain your overheads?

That’s right, you go out of business.

But it’s really quite simple to correct, it’s a brilliant idea that I learnt from one of my mentors, it’s called the rule of 10 X10.

What this means is that instead of having only one way to generate 100% of your clients, you find ten ways to generate 10% of your clients. So if one particular way fails, then you don’t care!

This is the easiest way I know of to make life far less stressful when it comes to attracting new clients to your business.

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