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Subject: Use Systems To Build Multiple Streams Of Success Part 4

Author: Dennis S. Vogel

[ Next Thread | Previous Thread | Next Message | Previous Message ] Date Posted: 22:21:27 04/06/06 Thu In reply to: Sims 's message, "I know what I can do, but how can dl it?" on 19:02:03 03/28/06 Tue The Passion Factor/Resource Some tend to be married to their businesses or jobs. If you can get profitably paid for doing something you like & can do it long-term, producing results will be relatively easy & selling those results will be an easier task. Your morale will be higher & your enthusiasm can be transferred to others -- your target market, suppliers, creditors, staff & consignees. Some advice I heard decades ago, but didn't adhere to is -- Don't marry a person you can live with, marry somebody you can't live without. (The one I thought I could live with turned out to be different than what she claimed to be.) Conflict at home can cause business problems. Somewhat similar, too often a person has a job or business s/he can do or handle, but s/he doesn't feel strongly drawn to it. Later, the job or business doesn't seem to be worthwhile. Some start successful, long-term businesses when they're desperate, but it's not a good idea. A short-term business (like consignments) is easy to setup, then sell or close. If you do it & make some irreversible mistakes, it probably wouldn't wound you badly. Mistakes are more common & costly in desperate situations -- loss of income, emergency need for additional income & recovery is harder. If you start a business quickly without enough knowledge or other resources, you wouldn't have much margin for error. Depending how you’d do it, you may have a sizeable investment at risk. If you provide displays, it’d cost a more. Store owners may reject displays that clash with their store décor. Long-play records may be somewhat expensive to sell & not have much wholesale or retail value unless they’re packaged as I described in a previous post. The weight would require strong (potentially expensive) displays & hauling a lot of them could require a strong, spacious vehicle. Tapes & CD’s can be put into small displays & help store owners maximize sales per square foot. You could experiment with businesses to sell them in. If you put them in music stores, it’d be targeted at a suitable market, but how would you offer something the stores can’t already get? If you put them in non-music businesses, the products may be noticed, but customers would be thinking about what the business specializes in. It’d be hard to advise you how to put products into businesses without knowing more about each of them. My mentor, Jay Abraham, set tape consignments in various businesses & did reasonably well. He had to set up a number of locations to make it payoff. What he focused on is finding outlets with customer traffic & put the displays where customers could look at the tapes while they waited to pay for things or for their dry-cleaned clothes to be brought to the counter. You could start with 1 display in store owned by somebody you know. If it becomes profitable, the owner may want to increase it & might give you a testimonial you could use to persuade other business owners. Success Depends On Luck &/or Systems Luck is sporadic, so it’s best find what leads to success, then replicate it. But what’s successful may already be losing out to the next successful thing. 8-track tapes were very popular, but many people these days have no idea what an 8-track is. So, don’t settle for success because success & failure aren’t final. Businesses with a lot of 8-track tapes in stock after people lost interest may have marked the prices down & lost profits. Disco music was very popular, as were many things, but it became very unpopular after being over-played & over-promoted. Hopefully, business owners will be patient enough for you test different methods. This can mean little or no profit until something works. After something works, try variations to find ways to produce even better results. Multiple Streams Of Success Depend On Systems Even if you plan to do it something temporarily, I advise you to track results. You can sell the concept/system to somebody else &/or adapt what you learn in a future business. Examples- What were the objections (to buying or providing display space)? What did you say to persuade business owners to handle your consignments? Which products were most popular with business owners? Which products were most popular with customers? Which businesses successfully sold which products? Which businesses had customers who were more willing to pay higher prices? There are many more things to be aware of & to track, but these issues are a good start. Dennis S. Vogel thrivingbusiness@email.com Temporary success is luck. Repeated success is often from using effective & efficient systems. If you want yours to last, you need effective marketing. You can find a lot of what you need here. http://web1.lakefield.net/~thrivingbusiness/ http://www.voy.com/31049/ [ Next Thread | Previous Thread | Next Message | Previous Message ]

Replies:

Subject	Author	Date
Build Multiple Streams Of Success Realistically & With Persuasion Part 5	Dennis S. Vogel	20:08:23 04/14/06 Fri
Re: Build Multiple Streams Of Success Realistically & With Persuasion Part 5	Sims	00:11:34 06/09/06 Fri
How Uncomfortable Is Their Comfort Zone? -- Dennis S. Vogel, 22:15:36 06/09/06 Fri