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| Dear Visitor, The last lesson on getting unstuck: have you had to use it yet? If you got stuck, did you remember to use it? Sometimes we forget the tools that we have at our disposal when we find ourselves in difficult times. A good exercise is simply to sit down and list the tools you do have available, and remind yourself of the incredible arsenal of skills, talents and resources you have at your fingertips. Within you is everything you need to amplify your business possibilities into reality! Today I want to share with you a tool that will help to accelerate your progress toward your goals. It's called the Inverse Zeno Report, based on a human-caused phenomenon that happens at the quantum level of the universe. Physicists have discovered that they can slow down or speed up subatomic activity just by measuring it. When they slow it down it's called the Zeno effect, and when they speed it up, it's called the inverse Zeno effect. What they measure determines whether they will slow down or accelerate a process. How often they measure will determine how much the process will slow down or speed up. The more frequent the measurement, the more dramatic the change in speed. In fact, they've discovered that they can slow down a process so much that they can prevent it from even happening. They can also cause a process to happen instantaneously. In business, the measurements that we take will either slow down or speed up our progress toward our goals. Businesses have a tendency to measure things that have already happened: last month's results. Year-to-date figures. Year-over-year. By constantly focusing on the past, we take away our focus on the creation of our business' future. There are certainly lessons to be learned from the past, and we want to take advantage of those lessons, but more importantly we want to measure toward and aspire to the future we intend to create. Even more detrimental to the achievement of a business vision is not taking measurements at all. Does your business have a collection of measurements that will propel it toward the ultimate state you have defined for it? If not, now is the time to choose those measurements. Let me give you some examples of measurements that can accelerate your progress. Most businesses are seeking growth. Growth, for most business models, comes from just a few things: number of customers, size of transaction and frequency of purchase. Which of these measures will drive the most difference for you? If increasing the number of customers is the key, then by what percentage must you increase your customer base to achieve your goals, and by when? The creation of that measurement alone will accelerate your progress, because it will create a focus for the organization. Out of the focus will come the "how." The "how" might include formalizing your customer referral system by offering incentives, for example; aggressively pursuing Web 2.0 marketing; establishing joint venture partnerships to get access to new audiences; setting up an affiliate program; giving seminars; offering a "loss leader," a product at a great price that will convert a prospect into a customer more easily, although with less or negative profit; wholesaling your products in addition to retailing them, etc. If you choose to focus on increasing the size of transaction, by what percentage will you do so, by when? As you begin to focus on making that measurement happen, you might consider bundling certain products together; offering other companies' product for sale with your own; giving bulk purchase discounts; offering service contracts along with the product; including books, training materials or other intellectual properties that enhance value, etc. If you choose to focus on increasing frequency of purchase, by what percentage will you do so, and by when? Frequency can be driven by offering complimentary products after the sale; calling to remind customers that it's time to re-order; providing your customer with other uses for your product that they hadn't thought of; offering time-based discounts, like Best Buy's membership rewards; etc. You may choose to institute one or all of these measurements to drive your business. If these measurements don't fit in your model, you might establish a measurement around improving conversion rates: conversion from prospect to customer, conversion from one-time buyer to repeat buyer; conversion from low-cost item to high-cost item purchases, etc. Conversion is a measurement that can be enhanced all along the customer interaction chain. How many unique visitors to your website turn into buyers? How many expressions of interest in your products turn into appointments? How many appointments turn into requests for quotes? How many requests for quotes turn into sales? At each of these points, a measurement can be established to target improved conversion, and strategies can be developed to accomplish those goals. Once you've established the few key metrics (no more than 3-5) that will drive your business toward its ultimate state, measure frequently. The creation of a measure will get you started, but it's the constant realigning of activity toward the measurement that accelerates progress and makes the desired outcome come true. Next time: 5 Ways to Expand Your Comfort Zone I'm getting excited about your business possibilities! --Kim "I hired Kim to focus our company goals, to help us define what the next level was for the organization, and to help us achieve new levels of success. Through Kim's simple coaching process, we not only accomplished all of these objectives, but discovered new avenues for revenue and new definitions of success. If you want to move your business forward, hire Kim Marcille. You can't go wrong!" --Leslie Carlet, Insurance Broker To find out more about Kim's coaching and consulting programs, visit the Services page on our website at http://www.possibilitiesamplified.com/services.htm. | |
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| © Copyright Kim Romaner & Possibilities Amplified, Inc. 2011 |
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