| I recently spoke with a franchise company that | | | | not a wasted expense! |
| provides cleaning services. This enterprise has been in | | | | As for your situation, advertising can produce amazing |
| business for about 18 months. The company has ten | | | | results and great revenue and profits --- for the |
| employees, 115 clients and produces revenue of over | | | | ADVERTISER! Unfortunately, the dollars that you |
| $12,000 per month. Unfortunately, the company | | | | spend in advertising, you will never see again! That |
| advertising expenses total of $5,000 every month! As | | | | goes into the advertiser's pockets and not your own! |
| a result, company profit only totals a little under ten | | | | There is a major change happening in America. Why |
| percent. The owner wants to increase its client base | | | | do you think that local newspapers and the major |
| and attract and retain my best employees. | | | | broadcast channels are losing money and firing |
| This reminds me of the old saying: "That you have to | | | | employees? Many companies are not seeing a |
| spend money to make money." Do entrepreneurs | | | | positive return on investment (ROI) using traditional |
| have to spend money to make money? | | | | methods. |
| Well, some believe that there are only two ways to | | | | They are getting wiser with their dollars. You should |
| increase your profits. Either you reduce your expenses | | | | too! Companies that have satisfied clients and |
| or increase your sales! Believe it or not, you could do | | | | customers, should recognize what a valuable asset |
| both! Some entrepreneurs think that you only have one | | | | that this can be! That's GOLD! Start there! Chances |
| choice - spend money! Most new owners make the | | | | are that your satisfied clients know other prospects |
| same mistake when starting a business. They think | | | | that you could convert to your service! That is where |
| that the best way to build a business is to spend | | | | you should invest your money! Get closer to your |
| money. They think that to make money, you must | | | | clients! What is a referral worth to you? How many |
| spend money! They are wrong. | | | | referrals did you get last month? What is your referral |
| Thinking that it is an investment, some people spend a | | | | system? Learn to ask for referrals! |
| lot of money in the lead generation activities. Some | | | | Stop wasting your dollars on advertising! Begin to think |
| owners will buy a yellow pages ad. Others will | | | | of other ways to attract the right clients and |
| purchase an ad in the living section of the local | | | | customers! |
| newspaper. Also, you will discover that some people | | | | Get profitable! Be more productive and efficient! |
| will buy a direct-mail list of 1000 prospects or post a | | | | Employees will stay with a successful company. |
| gigantic billboard over a major highway. | | | | Retention will increase and employee satisfaction will |
| For example, I know of one business that spent $ | | | | improve! People will leave their existing jobs and look |
| 20,000 on one direct-mail campaign! They are still | | | | for better opportunity with your company. |
| waiting by the phone for all the excited new prospects | | | | As you generate more dollars, you will have enough |
| to call them and hand over their hard earned money! It | | | | money to invest in your employees! This could result in |
| did not happen! Another example is a local restaurant | | | | offering health insurance, company training, retirement |
| that spends $2,000 each month for a billboard! | | | | plan etc. Investing in your employees will produce a |
| Business has improved and the owner is thrilled. But, | | | | better return on your investment. This will have a |
| when I asked her to prove that her sales came from | | | | positive impact on company and likely result in better |
| the billboard ad, she could not! | | | | employee retention and satisfaction. Save money and |
| Always test and measure your advertising efforts, | | | | invest in your company! Do not give it away! |
| processes, procedures, and systems. Always verify | | | | Do you have make spend money to make money? |
| your results! Before spending a lot of money, make | | | | No! Business owners just have to become wiser with |
| sure that it is a smart investment of your dollars and | | | | their money! That is the bottom line! |