Predictable Cashflow

1. Strong and Sustainable Unique Selling Proposition: A substantial USP cuts through the clutter of our everyday lives. A USP is like a beacon that calls you to you like an irresistible force. It is the lighthouse that brightens the night sky after you were lost at sea and thought that all hope was lost.

Seth Godin explains that the USP must be as remarkable as seeing a Purple Cow in the book Purple Cow. So, if you do not have a USP or believe your USP is weak, try this exercise by Jay Conrad Levinson, author of Guerrilla Marketing. First, write down everything you could think of that you do that would perhaps be unique and put it into seven paragraphs.

Next, take the unique ideas and reduce them to seven sentences. Finally, take the seven sentences and use only seven words that describe your uniqueness. Going through this exercise will give you a good starting point for a powerful USP.

2. Overwhelming a particular niche: Many entrepreneurs who start with their first company mistake focusing too narrowly on a specific target market.

Haven’t we all heard that we should be specific about our target market? The answer is yes and no. When starting a new marketing campaign, the target market should be small and focused. However, having this narrow focus for a marketing campaign does not mean that the company should concentrate very little.

A new company may not have yet realized precisely what target market has the most robust demand for a new product or service. Once a target market or a niche is identified, we can further develop the place until we master it.

Seth Godin refers to this process as “overwhelming the hive.” When bees protect and swarm their hive, the same is true about how similar people tend to congregate as a target market. People within the pack naturally spread the word about you until everyone talks about you and your product and services.

What are the top three target markets or hives that your company is determined to overwhelm in planning your marketing?

3. Multiple strategies producing balanced lead generation: Once you have a strong USP and know who and where your target markets exist, determine what specific lead generation strategies you can put to work.

How often have you heard someone say that they get all their leads based on referrals? Well, if you think of the example of a diving board and its one leg, how much spring would the diving board have compared to having multiple legs prop it up? This example is true in business too.

If you have one strategy or leg supporting your marketing diving board, how much bounce in your cash flow are you going to experience?

For businesses that rely solely on one referral strategy, cash flow will be up and down. Predictable cash flow is driven by well-thought-out plans that equally produce a balanced set of leads.

If one strategy does not work in a particular month, several other methods could. We at Action like to plan for a 10 x 10 lead generation plan which means that a business should have ten lead generation strategies that produce 10 percent of the company’s leads.

If you are ready to create predictable cash flow in your business, register for my free online Business Accelerator workshop.

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