Hi, my name is George Watts. I’m a marketing coach and web designer.
But instead of harping on about how wonderful I am at marketing and how I can help increase your profits, I thought it best let you play the MBA (Multiple Business Assets) game.
It was designed by me to help my clients become aware of the hidden assets within their business.
Each question if answered and acted upon will:
1) Increase your profits
2) Automate your business
3) Save you money
The questions ask some very straightforward, (yet highly revealing) questions designed to instantly detect whether or not your business could be working harder and more profitably for you.
The questions will highlight precisely where you have the most room for improvement.
I invite you to sit down now and go through the questions. The answers and their business implications to you will be self-evident. Once you’ve completed all questions, see how you scored.
Be candid with yourself! You alone will know the exact answers and their profit implications.
Step 1: Where is your business?
Most businesses we work with fall into one of three different situations.
- OK but want to do better
- Stagnant, no growth
- Declining growth
Where is your business (1,2 or 3)?
If you want more growth how much more? ____% £ ____
Step 2: Find the hidden marketing assets in your business
If you get top marks when you answer these questions, your business is vibrant & profitable!
1. What do you love about your business?
_____One (1 pt) _____2-4 (2 pts) ____ 5 or more (3 pts)
2. Have you clearly set and written business marketing goals?
____No (0) ____Yes (2 pt)
3. Do you reward yourself and your staff for accomplishments?
____No (0) ____Yes (2 pt)
4. How many different lead generating strategies do you currently do/use? – i.e., Agents, Barter-and-Trade Exchanges, Business cards, Building Signage, Buy Database Lists, Car Signage, Coupons, Distributors, Door-2-Door, Forums, Fridge magnets, In-store Signage, Magazine Advert, Market Days, Newspaper adverts, Networking, Posters, Post Card Mailings, Press Releases, Referral system, Sales People, School Newsletter Advert, Seminars, Strategic Alliances, Telemarketing, Trade Journal Advert, Yellow Pages, Website, Window Displays, Write Articles
_____One (1 pt) _____ 2-4 (2 pts) _______ 5 or more (3 pts)
5. How many potential lead generating strategies have you tested in the last month?
____None (0) ____One (1 pt) ____ 2-4 (2 pts) _____5 or more (4 pts)
6. How many formalized, referral generating systems do you have working right now? – i.e., Referral cards, Referral Incentive programme, ask for 3 referrals before customer is allowed to buy, Ask for referrals in your E-newsletter, ask for referral immediately after purchase
____None (0) ____One (1 pt) ___2-5 (2 pts) ____ 6 or more (4 pts)
7. Do you have a powerful USP (Unique Selling Proposition) for your product or service that makes you different from your competitors?
_____ No (0) ____Yes (2)
Powerful USP Example: we’ll deliver your pizza within 30 minutes or it’s free
8. Do you have comprehensive databases of your prospects and buyers that identifies everything from names, contact numbers, type of buying, what they buy, what they didn’t buy, where they originated from, past purchases, etc
______No (0) ______ Partial (1) ____Yes On All Issues (3)
9. Do you selectively use all your databases to target different categories of prospects/buyers in different ways for different products or services?
_______No (0) ______ Yes (3)
10. Do you know exactly where all (or at least most) of your business is coming from and how to stimulate more people from those specific sources to purchase from you?
______No (0) ______Yes (3)
11. Do you know where your biggest source of untapped new business is and how to ultimately mine it?
______ No (0) ______ Yes (2)
12. Does at least 25% of your business come from referrals?
________ No (0) _________ Yes (2)
13. Is the average number of referrals you get each month going up or down? Growing or dropping?
________ Down/Dropping (0) _________ Up/Growing (2)
14. Do you have a reliable system of collecting and creating client testimonials and success stories?
________ No (0) _________ Yes (2)
15. If “yes,” how many client testimonials and success stories do you have?
_____ 1-5(1) _____6-10(2) ______11-20(3) 21& over (4) ______
16. Do you effectively & powerfully use testimonials in all your marketing, advertising and sales efforts you do?
_________ No (0) _________ Sometimes (1) _________ Yes, always (3)
17. Do you have respected people in your field, market, industry who endorse you and your company?
________ No (0) _________ Yes (2)
18. How many endorsements do you have?
______None (0) ______1-3 (1) _______4-9 (2) ______10 or above (3)
19. Do you have a continuous system/approach programme actively in place to continually secure more prominent endorsements?
________ No (0) _________ Yes (2)
20. Do you have any strategic alliances/venture partnership relationships actively in place right now?
________ No (0) _________ Yes (2)
21. If, “yes,” how many strategic alliances/venture partnership relationships are you currently doing promotions with right now?
______One (1) ______2-5 (2) _______4-9 (2) ______10 or above (3)
22. Are you adding strategic alliances with similar, non-competing businesses to your marketing mix every quarter?
________ No (0) _________ Yes (2)
23. If “yes,” how many (on average) are you adding to your marketing mix every quarter?
______One (1) ______2-3 (2) _______4-9 (2) ______10 or above (3)
24. Do you repeatedly test headlines or their equivalents (i.e., opening sentence of your presentations, phone-in-sales calls, telemarketing scripts, etc)
________ No (0) _________ Yes (2)
25. Do you have a systematic, ongoing follow-up system you follow and put into action for every prospect and first time buyer you acquire?
________ No (0) _________ Yes (2)
26. How often do you follow-up to past buyers/clients by phone, mail, or email or in-person?
_______Never (0) ______Once Every Six Months (1)
_______Once A Quarter (2) ______ More Often (3)
27. Do you know your allowable cost of acquiring a new prospect and/or clients and if “yes,” do you invest up to that amount in your marketing efforts to acquire new buyers?
________ No (0) ________ Yes (2)
28. Do you have a progressive backend; meaning, you keep logically either reselling clients ongoing quantities of your basic products/services or you keep adding new additional backend products or services to the sales cycle.
________ No (0) _________ Yes (2)
29. If “yes,” how many different progressive, backend products do you offer?
______1-2 (1) ______3-9 (2) _______10 or more (2)
30. How often do you spend a day or more of your time totally immersed in developing marketing for your business?
________ Never (0) ______ Once Every Six Months (1)
________ Once A Quarter (2) ______ More (3)
31. Do you use risk reversal to close sales and differentiate your business from your competitors?
________ No (0) _________ Yes (2)
32. If yes, how many different ways have you tested reversing the risk?
______None (0) ______1 (1) _______2-4 (2) ______5 or More (3)
33. How many of these key, marketing factors do you regularly test?
______Nothing (o) ____ Just Headlines (1) _____ Headline, Offers (2)
______Headlines, Offers & Guarantees/Risk Reversals (3)
34. Do you offer bonuses (either tangible or intangible) as an incentive to purchase your product or service now?
________ No (0) _________ Yes (2)
35. If yes, do you test offering different bonuses to see which bonuses get the best response?
________ No (0) _________ Yes (2)
36. Do you give interviews (radio, newspaper, magazine)?
________ No (0) _________ Yes (2)
37. Do you use the results of these activities in excerpts as part of your marketing?
________ No (0) _________ Yes (2)
38. Do you write articles, special reports or e-Books you use for promotional positioning.
________ No (0) _________ Yes (2)
39. Do you have a prime prospect list or lists you market to by either direct mail, e-mail, telemarketing, catalogue or sales personnel?
________ No (0) _________ Yes (2)
40. Do you know what your return on investment is for Lead/Prospect Generating, and/or Reselling Buyers?
________ No (0) _______ Yes (2)
41. Do you have a continuous way to build a growing prospect/client e-mail list?
________ No (0) ________Yes (2)
42. How often do you send quality emails out that provide a benefit to your clients and/or prospects?
______Never (o) ____ Infrequently (1) _____ Quarterly (2)
______Monthly or More (3)
43. Are your emails, educational/content-based and not merely self-serving?
________ No (0) _______Yes (2)
44. Do you have a website that gives loads of great, free information your clients/prospects will love?
________ No (0) _________ Yes (2)
45. Do you do effective (meaning successful at both attracting and then converting) search engine optimization that builds more prospects?
________ No (0) _________ Yes (2)
46. Do you have a target prospect list of strategic partners/venture partners – i.e., companies that already have a strong relationship with the same people you want to sell – or new, competitive organizations that have more to gain than you do by seeing you sell your product/services to more people/companies.
________ No (0) _________ Yes (2)
47. If “yes” how many prospective, new “strategic partner” companies (with complete contact data) are there on that list?
___1-5 (1) ____6-10 (2) ___11-20 (3) ____21-50 (4) ___ 51 & Over (5)
48. Have you given all your team\Introducers\affiliates who have contact with your prospects/buyers formalized strategic consultative sales training?
________ No (0) _________ Yes (2)
49. If yes, how often do you retrain and advance their skills in this all-important revenue-generating factor?
______Never Again (0) ______Yearly or Longer (1) _______6-8 (3) ______9 or More (4)
50. How many competitive advantages have you created for your business?
______None (0) ______One (1) _______2-5 (2) ______6 or More (3)
51. Do you have successful ways to acquire new clients/buyers at a breakeven and that makes your real profit on the backend?
________ No (0) _________ Yes (2)
HIDDEN MARKETING ASSET SCORE
Your Total score is: ________
Tally up all the points your answers represented by calculating the point status of each answer you’ve given (use the number in parentheses following each response). Once you get your combined total, here’s what it tells you…
0-35: BANKRUPT
You are bankrupt! You either change or get a job.
36-99: LIABILITY
Stop what you are doing NOW!
You’re heading for bankruptcy! That means never knowing how successful you could have been. Looking back in years to come wondering why you never gave it your all.
Over 100: ASSET
Congratulations your business is an ASSET! You’re a very fine marketer already and should feel good about where you’ve come, so far.
But, ironically, because YOU understand so well the real additional marketing opportunities available to your business – your business probably still has spectacular geometric growth possible if you decide to take your strategy and tactics to the highest performance levels possible.
Step 3: Find the hidden automation assets in your business
There’s no point increasing your profits if you have to spend 50+ hours at work. If you get top marks when you answer these questions…you can spend less and less time at your business while earning more and more.
1. Do you have a simple project management system that a 10-year old could use to add and track critical projects for your business?
________ No (0) _________ Yes (2)
2. Do you have a simple time management system that gets everything out of your head so you don’t feel overwhelmed?
________ No (0) _________ Yes (2)
3. Do you have a simple system for tracking and measuring your marketing efforts so a 10-year old could use it?
________ No (0) _________ Yes (2)
4. Is your filing cabinet(s) so well organised that a 10-year old could use it?
________ No (0) _________ Yes (2)
5. Do you have simple systems for responding to and archiving emails?
________ No (0) _________ Yes (2)
6. Do you have a weekly review where you ask questions like, “How can I remove myself from this process?” -i.e., How do I stop answering the same email question over and over again?” Answer: What if I set up a FAQ on my website and direct customers to it? That way I’d only have to write the answer once saving me a ton of time.
________ No (0) _________ Yes (2)
7. Do you have an operations manual filled with lists of every process in my business so I could let a 10-year boy run my business if I wanted to -i.e., a 12-step process for sending out a direct mail.
________ No (0) _________ Yes (2)
8. Is your office organised and clutter free?
________ No (0) _________ Yes (2)
9. Can you seek advice when needed or are you a control freak?
________ No (0) _________ Yes (2)
10. Do you have a simple system for handling telephone orders and does everyone on my team follow it?
________ No (0) _________ Yes (2)
11. If you have staff do you run an ongoing training system?
________ No (0) _________ Yes (2)
12. Have you written your ‘Code Of Conduct’ – how staff should act in your business – what the standards are, etc and distributed them to your team?
________ No (0) _________ Yes (2)
HIDDEN AUTOMATION ASSETS SCORE
Your Total score is: ______
Tally up all the points your answers represented by calculating the point status of each answer you’ve given (use the number in parentheses following each response). Once you get your combined total, here’s what it tells you..
0-6: OVERWORKING
You have little or no automation. That means you are the business. If you don’t show up to the business, you don’t make money.
7-14: GETTING THERE
You are beginning to understand the important of automating the processes within your business to free up your time so you can spend that time living life.
15-24: AUTOMATION KING
Congratulate yourself! You are an automation king. You value your time so much that you fanatically find ways to save precious minutes of time through automation.
Step 4: Choose a Coaching Package
Are you looking to take your business to the next level with private individual marketing coaching?
Let me guess, you’re a busy, overworked entrepreneur with a truck load of responsibilities, and you could really do with having someone on your team with a ridiculous amount of marketing experience to help you systematize your marketing so you have a marketing machine that produces predictable results.
Hmmm, I thought so.
Well, that’s moi.
My aim is for you to fire me within 6 months because that means I’ve done my job. I’ll help you create a marketing machine that runs on autopilot and doesn’t need a whizz marketing coach.
My job as a marketing coach will be to kick you up the ass, I mean help you increase the following 5 areas of your business…
- Increase # of prospects
- Increase lead conversion rate
- Increase average sale
- Increase # of transactions per year
- Increase margins
No matter if you’re Microsoft or a B&B that only makes £10,000 profit a year, there are only 5 ways for a business to increase profits. What most businesses don’t realise is the exponential growth that can happen if you focus on all those 5 ways (most businesses only focus on 1 or 2 ways and struggle along with mediocre profits).
The table below highlights how your business can enjoy exponential growth if you focus on all 5 areas…
Profit Accumulator Formula
5 ways to increase profits| 10% | 20% | 30% | 40% | 50% | 100% | ||
|---|---|---|---|---|---|---|---|
| Prospects | 4000 | 4,400 | 4,800 | 5,200 | 5,600 | 6,000 | 8000 |
| x | |||||||
| Conversion Rate | 25% | 27.50% | 30.00% | 32.50% | 35.00% | 37.50% | 50% |
| (equals) | |||||||
| Customers | 1000 | 1,210 | 1,440 | 1,690 | 1,960 | 2,220 | 4000 |
| x | |||||||
| Transactions | 2 | 2.2 | 2.4 | 2.6 | 2.8 | 3 | 4 |
| x | |||||||
| Average Sale | £100 | £110 | £120 | £130 | £140 | £150 | £200 |
| (equals) | |||||||
| Revenues | £200,000 | £292,820 | £414,720 | £571,220 | £768,320 | £999,000 | 3.2 M |
| x | |||||||
| Margins | 25% | 27.50% | 30.00% | 32.50% | 35.00% | 37.50% | 50% |
| (equals) | |||||||
| Profits | £50,000 | £80,525 | £124,416 | £185,647 | £268,912 | £374,625 | 1.6M |
Coaching Packages
Choose a package that best suits your schedule and budget:
Bronze: 2 sessions in one month = £300
Silver: 6 sessions over 3 months = £800
Gold: 12 sessions over 6 months = £1,500
You’ll receive:
- Each session is 60 minutes (by Skype or phone)
- Audio recording of each session
- Marketing planner (with 100’s of marketing tactics)
- Marketing system that produces reliable results
- Bespoke marketing plan
Ideal for:
Business owners who are pulling their hair out wondering what the heck to do to increase their profits without spending a small fortune.
For more info, pick up the dog and bone and let’s chat.
George Watts
Marketing Coach
p. 02921 25 7770
m. 07976 717522
e. mail@thebarefootwebdesigner.co.uk
