Does your business have a money tree you can shake when a little extra cash is needed? Every business should have one!
What I mean by a money tree is something you can do to quickly generate revenue when you need it. Where can you find a money tree? Although you can't buy one at your local garden store, they are more common than you might imagine. Just as in a forest, there are many species of money trees, so you need to find one that is right for you. Here are a few common varieties:
The Sale Tree brings in cash by making a discount offer to customers. Buy before June 30th, and you get a lower price. This creates a sense of urgency for customers to buy now in order to save money and can create a new flow of sales for you.
The Bonus Tree can work like the Sale, but instead of a discount, customers get a free item with purchase. Buy one, get one free, for example, or buy this item and get a free accessory. You might make the bonus item something only available as a bonus, and not available to buy. Booklets, books, audio programs and other items with a low production cost and high perceived value are great bonus items.
Generate cash with the New Product Tree by introducing a new product. Customers love new things, so announce it with a flourish. You might cross the New Product tree with the Sale or Bonus tree to get a hybrid with extra appeal.
Shake the Personal Touch Tree by contacting current or former customers and reminding them it may be time to do business with you again. Perhaps the supplies they bought from you a few months ago are running low, or it's time for a follow-up service.
The Referral Tree should be in bloom all the time, but you can get better results when you tend it. Do a mailing or phone campaign to ask current customers to refer their friends and colleagues. You may be able to generate lots of sales quickly this way.
The Cold Call Tree can be hard to shake, but the results can be worthwhile. Identify your best prospects and call or visit them.
One of my favorites is the Publicity Tree. It's an odd one, in that you never know when it is going to bloom, or what it will look like when it does; however, the results are often magnificent. Provide a jumpstart in its growth by regularly sending press releases and pitches to the media.
Decide which money tree is right for your business, then nurture it and keep it growing. And, every once in a while, shake the heck out of it and watch the dollars come floating down!
Copyright Cathy Stucker. As the Idea Lady, Cathy Stucker can help you attract customers and make yourself famous with inexpensive and free marketing ideas. Get free tips, articles and more at inexpensive and free marketing ideas.
ohare limo service Grand Rapids ..In my career, I have had a total of 3... Read More
There are so many simple, yet really sure-fire ways of... Read More
Email etiquette is the key to help calm down anxious... Read More
1.) Brainstorming for an idea - You must select what... Read More
1. Use subheads throughout your ad copy.Subheads are great to... Read More
Do you know exactly what actions you need to do... Read More
Looking for a manufacturer or supplier of home furnishings in... Read More
Business etiquette is essentially about building relationships with colleagues, clients... Read More
I have some good news and I have some bad... Read More
Being appropriately dressed is essential in making good impressions in... Read More
Do you plan events for the corporate world like product... Read More
I believe some people create and publish websites for the... Read More
Are you scratching your head after business events wondering why... Read More
You have seen their ads and you may have wondered... Read More
Not having a business card is as bad as using... Read More
Every event you hold can be extremely successful. Apply these... Read More
If you are thinking of starting a new business, or... Read More
The Ten Commandments of Goal Setting While it's good to... Read More
Although dentistry may appear to be different than other types... Read More
Clarity is an absolutely essential ingredient for you to achieve... Read More
Do you run a business that seems to run you?... Read More
1. Focus on the other Being known as a... Read More
1. Outsource what takes you too long to doWhen you... Read More
Which one are you? An effective IT project manager, able... Read More
It is possible for small companies and individual business people... Read More
executive chauffeured services Barrington Hills ..Do you find great joy in being a coach? If... Read More
Looking for a manufacturer or supplier of home furnishings in... Read More
Always include a powerful signature on every email you send... Read More
The number may seem grim for Web-based commerce. In 2004... Read More
Here are ten things that you can do to hold... Read More
Many businesses lose money yearly because they don't think creatively... Read More
1. Outsource what takes you too long to doWhen you... Read More
Leadership, leadership development and leadership training are "Hot" issues in... Read More
Every event you hold can be extremely successful. Apply these... Read More
This is a quick checklist of a few things that... Read More
If you've been thinking of starting a business on the... Read More
Rut -- a routine procedure, situation, or way... Read More
It has been said you can lift the Rock... Read More
Proofreading may not be terribly fun, but it's one of... Read More
1. Focus on the other Being known as a... Read More
Ten Tips for Staying ConnectedMany of my business clients tell... Read More
Talk to Your People Often By building a great... Read More
The Ten Commandments of Goal Setting While it's good to... Read More
Having business partner or planning to start a business with... Read More
Does your business have a money tree you can shake... Read More
We all are project managers. Some of us manage projects... Read More
Looking for an old friend? Want to know if your... Read More
It is possible for small companies and individual business people... Read More
In Jack Canfield and Mark Victor Hansen's original "Chicken Soup... Read More
One way links will help you gain better rankings in... Read More
Top Quick Tips |