Make the most of your windshield time - get a motivational and educational boost during your drive.

Drive Time Education | Dave’s Weekly Kick In the Butt

By | Accountability, Building Your Booming Business, Leadership, Marketing, Motivation, Porductivity | No Comments

Note: This page was updated due to a YouTube problem that stalled the video after 15sec. The issue has been resolved!

Here’s something that has had a huge impact on my motivation and updated my business education at the same time.

What are you listening during your drive time?

 

 

 

 is a professional keynote speaker and the author of the book Building Your Booming Business. He is also an executive business coach and consultant that works with business owners and managers to create momentum in their business with strategies and tactics that they can implement today. These strategies are based on the five foundations of business: Marketing, Leadership, Operations, Finance and Systems.

DIYMarketers with Ivana Taylor| Read It and Reap | Building Your Booming Business

DIYMarketers: Read It and Reap

By | Building Your Booming Business, Contact Manager - CRM, David Bryant Mitchell, Finance, Leadership, management, Marketing, Motivation, Operations, Sales, Strategic Planning, Systems | No Comments

I had a lot of fun on this interview…..caution, I had technical difficulties on my end at about 17:12, but check out how I worked around it and was able to get back on the call by 18:34….

Here is what Ivana Taylor says about the book:

“For years, David Mitchell has been coaching businesses and business leaders to success by helping them build the tools and processes they need to make a business successful.

He knows the secrets for why businesses succeed, why customers stay loyal or leave, and how to be an effective business leader.

Unfortunately, it would be impossible for him to coach every business, so now he has written Building Your Booming Business to share the main strategies businesses need if they want to get ahead and stay there in a competitive marketplace. And surprisingly, it’s not all about profit or even having a better product.”

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Entrepreneur's Library with Wade Danielson

Interview: The Entrepreneur’s Library

By | Building Your Booming Business, David Bryant Mitchell, Finance, Leadership, management, Marketing, Operations, Strategic Planning, Systems | No Comments

Entrepreneur's Library with Wade Danielson

I was recently interviewed by the Entrepreneur’s Library Podcast.

We talk about the 5 Foundations every business needs to be successful. I also give a couple of influential books that I’ve read that’s helped me sculpt my personal foundations. We also discuss step-by-step business strategies and advice that will not only take your business to the top, but will help you systemize your business, build an effective team, provide high quality customer experiences, and drive more sales. The goal of the book is alleviate the consequences that come with unmotivated employees, escalating business issues, and an overworked schedule.

Enjoy!!

 

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Stop depending on tactics, string them together for a better business strategy

Strategy

By | Follow-through, Marketing, Strategic Planning, Systems | No Comments

I taught my son several years ago the basics of chess. I love the game and can remember the countless hours I spent playing with my father. It was something I wanted to share with my son.

He did not take to the game like I had hoped, and so our games have been sporadic over the last several years. It wasn’t until recently that he has found a new fascination with the game. He engages with the game better because he now understands that the pieces should never move independently of each other – but in coordination. The power of each piece is multiplied by the pieces involved in any given gambit (for non-chess players that is a short sequence of moves that provides a specific result – usually involving the sacrifice of minor pieces to accomplish a better position).

He has discovered that playing a strategy is much more effective – and fun – than playing with unrelated tactics.

The same is true for business. Often business leaders become dis-interested in marketing or business strategy because they are trying to play with tactics and forgetting the overall strategy. They find themselves frustrated as everything they try is thwarted repeatedly.

So how do you know if you are using marketing tactics instead of strategy? Here’s a quick test:

  • You are not sure how your customer interacts with a tactic. What do you expect them to do? What grabs their attention best? What have engages them and keeps them coming back to it? A great example for this is social media. Most businesses spend months trying to conquer this medium without understanding how their customers interact with it and how to encourage those customers to leave the social media space to interact with them in a new way.

Which leads us to test question 2:

  • Your marketing does not coordinate with any other methods you plan to use in your marketing. How do you get someone from your page to your leads list? How do you follow up on that lead?
  • Finally, you know you are using a tactic if you are not sure how this will result in a sale or repeat sales.  Without a clear path from tactic to sale, you are throwing money into the wind and hoping some of it blows back to you. You will only get partial results.

If you find yourself doing any of the three above, you are only playing the game with pawns. You will find yourself disinterested in the game in the long run.

As a side note: I never beat my father at chess until I was in my 20s – and that was because I finally started using a deeper strategy than he did. Read More

How are you getting out in front?

Position?

By | Building Your Booming Business, Marketing, Sales, Strategic Planning | No Comments

If you ask almost any business to describe how they are different from their competition, most say something like, “We provide the best quality with great service at an incredible price.” They don’t have any other way to explain it.

If that is what every business is telling its customer, then the only way a customer has to define the difference is price—and when your business is defined only by price, you become a commodity and are now involved in the “Price Limbo”—how low can you go?

To really connect with your customers, you need to clearly position yourself. Position is simply developing the message to communicate the value you have established in developing product and price.

The good news is if you have spent the necessary time in developing your product, it is extremely easy to develop your position.

Positioning is the set-up to developing your promotions and consists of two parts:

  1. Define your target market. Determine who needs to hear your message. The more specific the market, the more successful you will be. (We’ll dive into this next week)
  2. Define your message. Define the motivations of your target market. Then describe how your business solves a problem or fulfills a desire. This is where a copywriter comes in handy. Copywriters are professionals who are experts in writing to sell. They can help you sculpt this message and avoid most of the marketing trial and error it would otherwise require. With a clear message, the design can then be sculpted around it with logos, pictures, and graphic design. (More on this to come as well.

For now, stop using the “Quality, Service, Price” trifecta when talking to your customers. Start describing how it will impact their daily life.

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Ask for what you're worth.

Get What You Deserve

By | Finance, Marketing, Sales | No Comments

My wife and her boss once had a discussion about a bid to clean and repair his gutters. He had shown her three bids and then asked her which she would choose. Not knowing anything else about the bids other than the price, she said she would go with the lowest one. She assumed that the bids were all for the exact same level of service. Her boss, however, said he was leaning more toward the highest bid because he had more confidence that company would do a good job. The difference was only in perception. He assumed a higher price included a higher quality service.

If you are not pricing yourself correctly, you are not communicating to your clients the message that you are better than the competition.

Even better—you are more likely to give better service if you feel you are being paid well for it. On the other-hand, if you are constantly dickering on price, you are more likely to cut corners so you can get to the next low-paying job, where you will be tempted to cut more corners.

How to Determine Your Price

Even if you are in a retail store, you usually have the option of setting your own price somewhere above Manufactured Suggested Retail Price, often referred to as the MSRP (unless you have a contractual agreement otherwise).

If you are already in business, take whatever you are charging and increase it by 10 percent tomorrow for any new clients. Measure the reaction you get from your customers. You’ll be surprised by how little it effects them. What’s more, many businesses can increase their price by 10 percent, lose 25 percent of their customers, and still bring home close to the same amount. Variable costs come down (usually the biggest expense for most businesses) and the stress level decreases. In fact, one client I worked with increased his price by 20% and improved his Net Revenue by 146%.

If you have not started your business yet, ask your market what it would be willing to pay. Do not ask your friends or family—they won’t give you an honest answer and are probably not your market anyway. Once you know what your market is willing to pay, increase it by 20 percent. Your customers are interested in getting a deal, but you are interested in making a profit. In addition, it’s easier to negotiate a new, lower price or provide discounts than it is to raise prices.

Remember: Your price reflects your value and is more than an exchange of goods for cash. It communicates to your market that you are the better choice.

Money is more than a piece of paper or a set of numbers on a check. It’s a thank you note. The more grateful customers are for what you did for them, the bigger the message on the note.

A word of caution: You cannot charge a premium price if your product/service is just like the competition’s.

 

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Get Clear About Your Product

By | Marketing, Operations, Sales, Strategic Planning | No Comments

Get Clear About Your Product Marketing

Often we get so caught up in the technical aspects of our service or product, that we forget what problem it solves for our customer.

In order for you to communicate clearly with your customers through your marketing and sales, you have to become clear about three aspects of your product:

  1. What is the problem that you solve and what are the benefits your customer receives?
  2. What is the experience that your customer can expect?and
  3. How can you consistently deliver that benefit and experience?

 

Get clear on these, and you’ll begin to see how much better you attract your ideal customers.

What's the real difference between Marketing and Sales?

Marketing Vs. Sales

By | Marketing, Sales | No Comments

I often hear people getting Marketing and Sales confused. They are very different. Here’s how I define them:

Marketing gets them interested and in contact with you – they raise their hand to show their interest.

Your Sales has three components:

1) Deepen the Relationship
2) Close the Sale
3) Follow-Through

 

 

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