No matter what business you’re in, there will always be one or two salespeople or businesses that are completely knocking it out of the park and selling tons more and doing lots more business than everyone else. Even when market or economic conditions are bad, these companies and individuals are still killing it. They are able to do this because they create their own economy. They are not dependent upon outside forces nor are they victims of outside negative conditions that leave most businesses reeling or even out of business. The good news here is twofold: first, anyone can create their own economy and, second, these strategies work to significantly grow sales and business regardless of the market or the economic landscape.
Four Strategies for Creating Your Own Economy
Strategy #1: Triple your sales and marketing efforts.
In order to create your own economy you need to put in about three times as much time, effort, and energy as everyone else into the key areas of sales and marketing. The majority of your time needs to be finding new prospects, presenting, and closing. Creating your own economy requires you to contact lots of people. You must be willing to work longer hours and push yourself beyond what you’ve done in the past. Look, there will be times when your life is out of balance, creating your own economy is one of those times. As a point of reference, and to give you something to aspire to, here are some examples of people who put in monumental efforts:
- The new chiropractor who made over 20,000 calls on houses and businesses in a 6 month period working Monday through Sunday. Yes, that’s an average of 110 calls a day. And then did $1.2M in revenue his first 12 months in business. By the way, this put him in the top 10% of all chiropractors in a major metropolitan area.
- The brand new Realtor who made 803 calls to For-sale-by-owner and expired listings in one month and got 6 listings. (The average Realtor gets 12 listings a year).
Note: You need to be a contrarian. In addition to working harder than everyone around you, you have to zig when others zag. For example, in a down market or economy, the average business cuts sales and marketing activities and expenses by 37%. They also cut back on training and support. This starts a downward spiral that sinks them faster than almost anything else. When there is a downturn in the economy or market, that is the time to step up your efforts even more. Go out and get competitive business because the competition is not out there as much and they aren’t staying in touch with and appreciating customers as much.
Also, as a general rule, it is usually best to look at what everyone else is doing and do the opposite or something substantially different. People who follow tend be one of the people moving from cash into stocks when the market is at 18,000, or one of the last ones in to the latest MLM.
Strategy #2: Anticipate and welcome change.
Speaking of down markets and economies, we all know that change is the one constant in the universe. That said, many people run their business as if nothing bad will ever happen then they’re surprised when the stock market crashes, the economy nosedives, or the real estate bubble bursts. The most successful people on the planet embrace change and look for an advantage. They know it’s coming and they adapt faster and more successfully than everyone else. You won’t be able to anticipate everything but you can predict about 80% of what’s likely to happen. Don’t dwell too long on bad things that can happen or spend a lot of time here, just anticipate what could happen and have some solutions. Also, when change does come, don’t get negative and complain about it. Just realize that you knew change would come at some point and here it is. Now, what can you do about it? Get positive and look for the advantage.
Strategy #3: Run lean and invest as much as you can back into the business.
The best investment you can make is in yourself and your business. When you are creating your own economy, you need to put as much money as possible into your sales and marketing efforts and in developing the skills you need for success. Running lean means not taking a huge salary, buying a fancy car, or spending money frivolously and carelessly on toys, trinkets and other non-business essentials. Running lean does not refer to cutting corners or skimping on items in your business that lead to superior quality and service and branding.
Strategy #4: Get rid of excuses and change limiting beliefs.
I could have put this item first, but if you’re looking at creating your own economy, you’re probably already pretty good at letting go of excuses and probably have some fairly solid beliefs. That said, excuses and limiting beliefs are two of the biggest roadblocks to creating your own economy. If you do have some excuses, keep in mind that whatever excuse you have, someone on the planet has had it worse and overcome it. Get to work and find the solution. Whether you believe you can or can’t, you’re probably right, as Henry Ford said. If you are having challenges in an area of your life it is due to incorrect or limiting beliefs. Find someone who’s successful doing what you want to do and copy their beliefs and their actions.
John Chapin is a sales and motivational speaker and trainer. For his free newsletter, or if you would like him to speak at your next event, go to: www.completeselling.com John has over 27 years of sales experience as a number one sales rep and is the author of the 2010 sales book of the year: Sales Encyclopedia. For permission to reprint, e-mail: johnchapin@completeselling.com.
