Equal Time?

Balance is a key to a successful business and way of life. But this does not mean that everything or everyone deserves equal amounts of your valuable time. The FMG strongly advocates that you value your family time and free time in relation to the time you devote to your business. This being the case, it is vital that you portion your work time effectively such that every moment imparts value, which translates to profit.

Here is a quick quiz for all of you enterprising entrepreneurs. Are all clients created equal? The answer is a resounding NO! Remember that 20% of your clients produce 80% of your revenues. This being the case, 80% of your time should be devoted to those valuable 20%. You may recall from previous FMG newsletters that I suggested firing some of your clients. Fire the customers that are late making payments, that your are not excited to work with, who complain, constantly have a "reason" for missing sessions (and thus don't expect to pay), or simply get on your nerves. SOUND FAMILIAR? More often than not these people are your 80%. By equally dividing your time among all of your clients, you are wasting 80% of your time. But, what's more think about the opportunities, or even more importantly the money, you are missing. Here is another question for you. Who are your highest value clients? Take the time to identify your dream customers.........let's call them your Elite 10. Be sure that this special group receives the most attention. Remember these clients are loyal, pay on time, provide referrals, and are a joy to work with. The bottom line is, not all customers are created equal.

"If it doesn't make dollars, it doesn't make sense!"

Time to Initiate Lift Off!

The summer is over, school is back in session, and its time to take advantage of the prime of this training season. The end of vacations and the reestablishment of regular schedules means that its time to reload any open training slots. Just as squirrels do, its time to put aways some nuts for the winter. This is you opportunity to sale long term packages and offer gift certificates. Exploit this critical time that lies well before the holidays, when budgets can become tight once again. Prepare your clients for the pre-Thanksgiving pounds that are sure to lurk just around the corner. Repackage some of your existing offerings, make the more exciting and enticing to draw new clientele. (Quick tip about repackaging: Water is simply water right??? Unless its one of the new fangaled branded water products. Speaking of which, Evian is simply naive spelled backwards.)

"If it doesn't make dollars, it doesn't make sense!"