This html-coded online version of the Wombat Final 15/5/06 9:12 AM -- wombatbook.pdf, was prepared by Darlene Sartore with some additions, clarifications, minor adaptations, color texting, and numbered paragraphs to make the text easier to use in follow-along reading and referencing during dialogs.... This version is for use only by course presenters certified by An Ever Better World Internet Academy. Permission granted from author on March 5, 2007.
How to make a profit in 100 days
How to make a profit in 100 days
In the context of your own business or selling activities we can now focus on how you can make a profit in the next 100 days. When I work with my clients this is the newsell system that I use to help them multiply their sales activities by ten.
Think of your existing customers as only one tenth of your potential customers (those you don’t yet have). You need to build your business by building your database of potential customers and by concurrently increasing the number of UNCHECKTOCHECKs you do each day.
To make a profit from newsell you need just three things:
An offer is a BVS for your potential customers, usually a product or service, that gives them a much better outcome from their viewpoint, not yours. It’s an offer to help them get a BVS in exchange for cash and one that requires either a YES or a NO answer. YES or NO are both viable answers, they are the normal business mixture. Collecting this mixture of YES or NO answers is how you escape from UNCHECK and the aim is to collect as much of this mixture as you can, ten times as many as at present.
In Australian Rules Football, there are only two ways to score – a goal or a behind. A goal is worth 6 points and a behind is worth 1 point. The team that has the biggest collection of goals and points wins. During the game players are either having a shot at goal or not. When they’re not having a shot at goal they have no hope of scoring – they are in UNCHECK. When they are having a shot at goal they are in CHECK and they are building their collection of goals and points.
In newsell, when you go from UNCHECKTOCHECK you either get a YES or a NO. Let’s say that a YES is worth 6 points and a NO is worth 1 point. Usually, the salesperson with the biggest collection of YESs and Nos wins. When they are in UNCHECK they have no hope of scoring, when they switch from UNCHECKTOCHECK they are building their collection of YESs and NOs.
How do you make an offer? You make your offer by flipping the UNCHECKTOCHECK newsell switch and you can try to collect at least 10 points a day. For example:
There are many other possible combinations for scoring points.
The fundamental unit of business is a customer and our most valuable business asset is our list of customers. This is our database. The most profitable of all customers are satisfied, repeat, long-term customers, sometimes known as ‘registered users’ – those customers whose names and addresses we have in our database. A traditional registered user is: a customer name and address. An online registered user is: a customer name and email address. Your objective is to look for ways to double the size of your database of registered users, both traditional and online.
Your database is a list of people for you to switch from UNCHECKTOCHECK. This list enables you to escape from UNCHECK. To build your list you’ll need to spend some UNCHECK time to constantly feed names into this database of registered users, both traditional and online.
TT x 100 Days
This is the daily management part of your profit engine, and the most important part of your business. Every day you keep two measurements, your TT. You first measure the number of UNCHECKTOCHECK switches you think you will make tomorrow (this is a soft guess). Next, you measure the number of UNCHECKTOCHECK switches you actually made today (this is a hard fact).
HOW TO MAKE A PROFIT IN 100 DAYS!
When you can answer YES to each of these questions you will already be making a profit.
In the next few chapters we’ll look at these three items – offer + database + TT – in more detail.
This html-coded online version of the Wombat Final 15/5/06 -- wombatbook.pdf, was prepared by Darlene Sartore with some minor adaptations and color texting, for use only by course presenters certified by Ideal Network Academy. Use permission herein granted from author Michael Hewitt-Gleeson on March 5, 2007.
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