Create A Profit Faucet And Quit Competing On Price
Which One Are You?
It’s pretty easy to tell which one you are. If you start to get heartburn about the 15th of the month, when last month’s sales dollars start to dwindle in the coffers or worse – if you get to the end middle of the month and are robbing Peter to pay Paul then you clearly DON’T have a profit faucet. If you however have 3 months of operating capital at the ready and can dial up the sales to boost revenues (or down if you want to vacation and lay low) then you, my friend, have profit faucet.
What’s A Profit Faucet And What’s The Big Deal Anyway? Simply put, a profit faucet is a system of creating bottom line revenues that is predictable and simple using marketing and advertising. In most cases it involves a well thought out approach of hot button oriented materials that Interrupt, Engage, Educate And have a low risk Offer. Simple – yes. Easy – No.
The Truth is creating a profit faucet is really hard work and if done incorrectly can be a profit drain. You spend your dollars time after time on marketing initiatives that either don’t work or seem to create a boat load of prospects that fizzle out and never convert. A profit faucet by definition can be turned up or down and works when you want it to. If you need more money you can turn it up and pack some funds into the savings accounts for later. If you want to take a break and rest you can turn it down.
2 Lies You Will Probably Tell Yourself About A Profit Faucet And One Truth You Don’t Want To Hear
Lie #1: A Profit Faucet is essentially a few “Marketing Pieces”
One of the biggest misconceptions about a profit faucet is that it boils down to just a couple of really good marketing pieces. Essentially, this theory is, if you have a couple of lead generators that have generated decent results in the past, then we should be able to use those again in the future and create decent results again.
This is false. Lead generators generate leads. Further, they generate leads based on a whole host of factors. The type of message, the media, the market , the audience, the offer, the … well – the list goes on and on. Not to mention that once you generate a lead you have to educate the lead, nourish the lead and then close the lead. Bottom line – a good set of lead generators needs to be refreshed constantly, properly managed, followed with a huge system of education-based selling and marketing and closed with a proper follow up sales system. (i.e. A few lead generators does not a profit faucet make)
Lie #2: I am good enough, smart enough, have enough time or can copy something and make my own Profit Faucet
No. You. Can’t. Sorry, if you could you would have. If you were smart enough, good enough, had enough time, or could simply copy something from a template, book or manual and create an entire Profit Faucet for your business we wouldn’t BE IN Business. Truthfully, all your efforts and all the efforts of your associates is the very reason we have a business. Now hold on, before you get out your red pens or crackberries or MYphones and start those colorful metaphor laced emails or letters… listen up.
If you are honest with yourself you can admit you are just not a marketing and advertising genius. You’re not a guru. You are not even that good. Sure, you may have a degree, you may have even worked a few years in marketing and created some “ads” or maybe even some “campaigns” and a few may have even created some results – but if you are absolutely sure every single time you pull the trigger on those ads or campaigns that they are GREAT – then you aren’t. And ya know what? That’s okay. You probably pay someone to do your taxes(accountant), to take care of selling your house (realtor), to handle legal problems (lawyer) and to deal with medical issues (physician) so why wouldn’t you go to an expert to handle your marketing problems (Adult B2B Marketing Expert)? Bottom line – profit faucets take effort and expertise (i.e. Don’t Try This At Home Kids , We Are Experts).
One Truth You Don’t Want To Hear
Your business needs a profit faucet because chances are whatever you are doing right now to keep your business going, isn’t going to last forever. The big gargantuan brute force sales efforts you have going right now to make it month to month or the huge branding efforts that cost big bucks or even the lucky sales that seem to fall from the sky… they just aren’t going to last forever.
What you need is a powerful system you can understand that is easy to control and manage, that doesn’t cost a fortune to implement. One that you can literally point a finger or make a phone call to turn up or down and then sit back and relax; Predictable, reliable, results getting and simple. (We do that…)
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