My goal is to help you build a 6-figure practice.
Because the 6-figure mark is where you go from survive to THRIVE!
It’s can begin to focus on building wealth & prosperity, not just paying the bills.
So let’s dive in…
1) Use the 80/20 rule to figure out what makes you money
In almost every business, 80 percent of revenue comes from 20 percent of what you do. If you look at the numbers, this will jump out at you. And it’s where you should focus your time.
If you sell products, 20 percent of the products will bring in 80 percent of the revenue.
And 20 percent of your list will be responsible for 80 percent of sales.
Note: these are approximations, it might be 85/15 or 75/25 but it will be around 80/20.
There is a great book on the 80/20 rule applied to business written by my friend Perry Marshall.
I HIGHLY recommend it.
2) There are riches in niches
Or put another way, jack of all trades… master of none.
Serving a few niche markets will be much more profitable than trying to be all things to all people.
Simple fact of business: Everyone is NOT your customer!
Serving a niche market has many advantages:
– You can position yourself an THE Expert
– It’s easy to define who your ideal customer/client is
– Your marketing clearly defines what problem you solve for the prospect
– Makes it easy for others to refer to you
– You can segregate your lists (only send people info they WANT)
Not sure what Niche to serve? Use the 80/20 rule to figure what’s bringing in the lion’s share of business.
Or grab a copy of “Niche Down & Get Rich” featuring Richard Nongard.
3) Take Advantage of Local Search
Search engines are the modern Yellow Pages.
The good news is, Local Search is low hanging fruit.
So it’s surprisingly easy to plant your business high in the search results for your local area.
Do this by combining geographic terms with niche market terms. An example would be: Stop Smoking San Francisco.
Or even better, in San Francisco people search based on neighborhoods, so if your office was in Potrero Hill area it would be… Stop Smoking Potrero Hill
It’s like having a free website from Google, and you’ll show up on Google Maps for local searches