The Biggest Business Secret Of All Time

The Biggest Business Secret Of All Time

by Brian Li
Head of the UK's Business Growth Centre
www.businessgrowthcentre.com

Any study of Game Theory shows you how to use co-operation to your
advantage. In the small business world, using strategic alliances
can pay big dividends.

You are instantly able to leverage the goodwill of a competitor
to your own advantage and, in the process, offer your customers
a wider range of services that will boost your own profits.

However, there's always been a problem here: many past
Joint Venture Schemes have been complex and many small businesses
haven't experienced the enormous benefits that can be achieved,
almost instantly!

Here's some really innovative ones you should be using right now.
They can be adapted to any small business with great success.
The longer you wait before implementing them, the longer you
lose out on those enormous profits that can rightly be yours.

No expertise required

No matter what you sell, think of related services that your client
may want - you don't have to possess the expertise to provide them.
For example, if you're a carpenter, your client may need plumbing,
electrical or building services.

If you can recommend someone you respect, you can then obtain a
pre-negotiated referral commission when your client purchases the
services you recommend. If they are one of your present customers,
an endorsement from yourself will almost certainly be accepted
because of the trust you've already built up.

Keep it local

You can also send genuine-discount coupons for your services to
local businesses.

A great secret here is to print the company's name on top of
your coupon to give the impression your joint venture partner
(ie the company) has made a real effort to obtain your discount
coupons for their employees. You can use software for producing
coupon designs/certificates etc that can be personalized.

This type of joint venture can bring you great dividends almost
immediately. Why not take it one step further and promise to pay
the company a small percentage of every purchase. They're much more
likely to accept your offer this way.

How to make a profit from a lost sale!

How many potential customers has your business lost to rivals
because they offered better payment terms, or a wider range of
products/services for their needs, or just because they didn't
like one of your sales professionals?

Well, if you follow this cutting edge strategy, you can discover
how to receive a greater income from lost customers than from those
who buy your particular product or service.

For example, if only 5 people out of 100 potential customers buy from
you, they must be making their purchase elsewhere, for whatever
reason.

However, if you enter into a strategic alliance with your perceived
competition, to offer them your non-converted sales leads, you can
receive a pre-negotiated sales commission if your supplied leads
result in a purchase.

This means that if you can't offer a potential client what they
want, you can direct them to a rival you respect, with whom you
have created a strategic alliance, and who can offer a wider range
of products/services and payment options.

If you have a choice of rivals, point out, as a negotiating
strategy, they will probably lose your recommendation to another
rival with whom your joint venture has been agreed. Also
point out, they are first in line to negotiate this exclusive
agreement with you in your area.

And this works both ways, especially if they are in danger of losing a
non-converted lead forever - they can send those "lost" potential
clients to your business and earn their pre-negotiated commission.

Try it right now and see for yourself the amazing results you can
achieve.

Cross Selling

Cross-selling can also be seen as a form of joint venture. It can
both increase your sales and also give your customers a better
outcome than their original purchase decision.

For example, if you sell computers, it would be enormously beneficial
to lots of your customers if you offered training courses in the
software they purchased, or maybe you could also offer a full
installation and basic lessons in using a computer for an extra fee.
If you don't possess the expertise to do this, negotiate a strategic
alliance with a local company you respect.

If you are selling accommodation, you can sell local tours
in your area to your guests, or sell local theatre tickets,
travel tickets etc on a commission basis.

General shops can also offer photocopying, fax, cheque cashing,
money transfer, photo processing, Polaroid Passport Photos and other
related services to significantly boost their services and profits.

Also enter into strategic alliances with other businesses that
complement your own product or service. For example, can you display
goods from other businesses in your premises for sales commissions,
or for a display fee?

The possibilities are endless. Just ask yourself this question?
What else can I offer that is connected with my main business
and will benefit my customers? What joint ventures can I enter into?

The knowledge in this article can pave the way for enormous amounts
of extra business coming your way. Don't waste another minute in
thinking about it. It can only be yours if you take action right now!
Welcome to a rosy future.

About the Author

Brian Li is head of the UK's Business Growth Centre.
You can discover how to get virtually every job you apply for and
a host of incredible secrets to skyrocket your sales:
www.businessgrowthcentre.com
Copyright (c) 2003 Brian Li


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