MKS-6: Success Made Simple with the Business of the 21st Century

If my son or daughter were to ask me, “Dad, what do I really need to know in order to be really successful in business?”

Here’s exactly what I’d tell them: Often the simplest changes can help you succeed in business. If you want your business to succeed, forget about searching for secrets, and focus on the following simple strategies.

[1]: Understand where your customers are coming from.

Understanding where your customers are coming from gives you clarity. Companies with a clear understanding of customer acquisition are in control. Successful businesses always seek to understand how customers find out about them. Asking a simple question such as “How did you hear about us?” can provide you with great insight.

The process is simple. You should be systematic about this and ask each customer. Make it part of your business culture to know. When you ask, “How did you find us?” you will learn whether it was word-of-mouth, email, search engine, advertising, a trade show, a mailer, or social media.

Understanding where your customers are coming from enables you to start scaling your business. It empowers you because it tells you what works and what doesn’t. Do more of what works and less of what is ineffective. Businesses that are more likely to succeed can tell you their most effective customer acquisition channels. Key Performance Indicators such as customer acquisition channels are essential to understanding and grow your business. 

2. Visualize success

Do you see your business successful? When you are visualizing success, you are doing more than daydreaming. You are actually thinking about ways to get there. Dreaming is passive, while visualizing is active. Picture what it would look like to reach your next goal. Do you want to get 100 new clients in the next six months? What would your business look like with 100 new clients? How would it impact the way you do business? How many people would you need to hire? Would you need to manage your company differently? Will you need more capital? Visualize your goals and think through possible scenarios.

Use the following steps to visualize success:

  • Picture exactly what you want. Be specific. If you are not clear about your goals, you will not get there.
  • See what it will look like. Associate your goal with an image. It could be a group of new customers or an improved version of an application. Whatever it is, associate it with an image.
  • Visualize daily. Repetition makes it more real.

3. Strive for optimal instead of maximum performance

Today the average passenger car engine is built to last at least 200,000, running at optimum performance. The biggest problem with running your business at maximum performance is that it is unsustainable. You will burn yourself and your staff out.

An optimally run business will outperform a business that is running at maximum performance for several reasons:

  • If you are in it for the long haul, you want an optimally run business. Getting the most out of yourself and your team sounds great, but in reality, it will burn out you and your staff before you have time to succeed. You will resent your business, and your employees will jump ship.
  • It would help if you only grow your business at a rate that enables you to manage and finance your growth.
  • You can expect people to work 14-hour days, but you won’t get the 14-hours worth of work. It is fine to pull an all-nighter once in a while, but it is not sustainable.
  • Just because you can sell 100 more new customers, it doesn’t mean that you can provide quality service. It is tempting to rev up your sales efforts, but you could harm your reputation in the long term.
  • Don’t grow your team faster than you can train them.

4. Build your business to last

Hopefully, you will sell your business one day and retire rich. – Reality check. Only about 1 out of 10 businesses are ever sold. – But, even if you sell your business one day, build it as if you would own it forever. Many businesses are started with a passion for a product or industry or the idea of entrepreneurship.

Here are a few key points to building a business that lasts:

  • Be patient.
  • Always chose security over growth.
  • Always strive to become an absolute expert in your field. When you are the best in your field, it is unlikely that anyone will beat you.
  • Focus on markets that are either growing or stable. Never enter a shrinking market even if it is attractive as a short-term prospect.
  • Go beyond your geographical area. If you can expand to the next city, that is good. If you can go global, that is great.
  • Continually innovate.
  • Do more for your customers than your competition is willing to do. Going the extra mile is what builds brands.
  • Manage your business as if you had expected it to live forever.

5. Engage with your target market

The most successful brands are great at building relationships with their audience. Focus on building relationships before you are selling. If you can manage to build an authentic relationship with your market, they will want to buy from you. People want to buy things from people they know and trust.

Here is how to define your target market:

  • Who are your best customers?
  • Who are your competitors’ customers?
  • List the benefits of your service.
  • Be very specific about your target demographics. Your B2C customer demographics should include: Age, Location, Income, Education, Family status, Occupation, Ethnicity. For B2C customers also consider psychographics such as: Personality, Attitudes, Values, Behavior, Interests, Lifestyles
  • Your B2B customer profile should include: Location, Industry, Number of employees, Revenue and Who are the decision-makers?
  • Can you attract enough customers to build a business?

6. Learn from your competition

Businesses that learn from the competition are winning. Think of your competitors as your teachers. There are several valuable things you can learn from competitors:

  • Pricing
  • Marketing
  • Customer satisfaction
  • Errors – learn and hopefully avoid them with your own business.

7. Customer Acquisition Cost (CAC) and Customer Lifetime Value (CLV)

CAC tells you how much it costs to acquire a new customer. CAC is essentially your cost of sales and marketing. If you don’t understand this number, you can’t justify spending on sales and marketing. CLV is the profit attributed to the entire future relationship with a customer.

Understanding the relationship between your CAC and CLV is crucial. Both are real numbers with an actual dollar value you can measure. The numbers may change over time, and as they do, you will be able to make the necessary adjustments.

8. Emailing your prospects and your current and past customers

Email marketing offers a simple and cost-effective way to communicate, yet most businesses continue to ignore it. Sending one or two emails here and there is not enough. Proper email marketing is about staying in touch. The most effective tool to stay connected is email. You should email your lists at least once a month. Depending on your industry or your business’s seasonality, you might need to adjust the frequency, but the key is to email regularly. You should email at least three groups: your prospects, your current customers, and your past customers. Email your past customers to let them know what’s new. Maintaining contact through regular emails with your past customers gives you a chance to stay top of mind when they are ready to buy again.

9. Ask for feedback

Some businesses are concerned about asking for feedback because they are afraid of negative feedback. In business, no news is never good news. The reality is that your business will benefit more from negative feedback than no feedback. Feedback also gives an outsider’s point of view. It gives you a chance to understand what your customers like and don’t like. It helps you to make adjustments. Asking for feedback allows your customers to feel important.

Any business that wants to succeed should strive to improve continuously. When you ask for feedback, you show that you are willing to turn a wrong into a right. We often hear customers rave about companies that managed to turn a negative experience into a positive one.

Some frequently asked customer feedback questions are:

  • Would you refer us to your friends?
  • What did you like the most about our product/service?
  • What did you like the least about working with our company?

10. Decide the role of social media in your business

Social media empowers you to grow your focus of influence. It helps you introduce new products and services. Social media can be your tool to solicit customer feedback. There is nothing magical about social media. It is simply a tool you can use every day to improve your business and make you more competitive. It will provide you with opportunities to stay connected and in front of your prospects and current and past customers.

11. Manage your cash

Even successful businesses go bankrupt. When you run out of money, your business dies. It’s that simple. With cash in the bank, your business lives for another day. Managing cash is one of the most difficult tasks entrepreneurs deal with. You spend too much; you run out of money. You spend too little; you miss growth opportunities. There are many ways to increase cash in your business:

  • Expect the worst.
  • Cut costs.
  • Only spend on things that grow your revenue or must-have items.
  • Sell unused or unneeded assets.
  • If you are a service business, take large upfront payments for projects.
  • If you are a product business, sell excess inventory.
  • Bill your customers early and often. Don’t wait.
  • Keep your cash in interest-earning accounts.
  • Ask for the net-10-30-90 payment terms of your vendors.
  • Offer incentives for early payment.
  • Hire a collections agency or freelancer to help you collect for old receivable.
  • Introduce subscription or recurring revenue models to your business.
  • Pre-sell products or services.
  • Buy used instead of new equipment.
  • Barter for products or services.
  • Get a business line of credit. Only use it in case of an emergency.  

12. Success is always a group effort. 

There is no such thing as a self-made man or woman. Even if you overcome hundreds of obstacles, you are still beholden to the team you’re working with.  In addition, we are all standing on the shoulders of giants–the people who created the infrastructure that makes business possible.

13. Work is to be savored. 

The ability to make a difference in other people’s lives is a gift precious beyond price. The only way to make that difference is through expending personal effort, which is the textbook definition of “work.” Remember: the ultimate failure in work and in life is to be idle and useless.

14. Anger is an expression of helplessness. 

People become angry not as the result of outside events or the actions of other people, but because they’re frustrated at their own inability to change themselves and their emotional state. Put another way, a screaming boss is just a screaming baby writ large.

15. Every action creates an opposite and equal reaction. 

This law of physics also applies to people. The more you try to control, the more resistance you create; aggressive managers create passive-aggressive employees. True leaders redirect and guide rather than push or pull.

16. Information is the enemy of insight. 

The essence of a problem, solution or opportunity is usually hidden in plain sight surrounded by wads of undigested and unnecessary data.  Half the battle is eliminating the noise. Rule of thumb: simplify, simplify, simplify.

17. Other people usually mean well. 

People do the best they can with the resources they’ve got. Those who possess minimal emotional and mental resources can do very silly things, but their intentions are almost always good. Harnessing those good intentions is always more effective than telling people that they’re wrong.

18. Best-case and worst-case scenarios never happen. 

Everything is a continuum between what you’d like to have happen and what you dread might happen. Understanding this saves you from disappointment if things go sour and frees you to be delighted when things go well.

19. Sharing something creates more of it

Sharing happiness and positivity creates more happiness and more positivity.  Similarly, sharing misery and negativity also creates more of both. So take heed when you speak because you’re creating whatever comes out of your mouth.

20. Nobody’s perfect and neither is any organization.  

Just as you must forgive, understand, and work with the limitations of the people you meet, you must forgive, understand, and work with the limitations of your corporation, division, or team.  Expecting perfection is a certain recipe for disappointment.

21. What goes around, comes around.  ‘Nuff said.

What is Executive Coaching?

Like this post? If so, sign up for a Free 5-10-20-30-60 Minute Advisory Appointment that can Add Thousands in Profit to Your Bottom Line. Call Us at 415-678-9965

Michael Kissinger’s offers Confidential Business Coaching. He is indispensable resource for problem-solving and strategizing.

He is best for Small business owners, professionals, and entrepreneurs.

He is a recognized leader worldwide in entrepreneurial coaching. For over 30 years, he has coached or worked with more than 10,000 business owners from around the globe to help them achieve faster growth, greater profitability, etc.

Working with Michael Kissinger is your ultimate tool to achieve massive results. Some of the most wildly successful companies and entrepreneurs on the planet rely on his business coaching services to become talkably different from the competition.

He assists and guides business owner in running a business by helping them clarify the vision of their business and how it fits in with their personal goals. His business coaching is a process used to take a business from where it is now to where the business owner wants it to be. Ultimately, his process empowers clients to maximize their personal and business potential. 

Why use is Michael Kissinger’s business coaching?

  • He is a type of consultant that provides an outside perspective for you and your business. He will help you address not only business issues, but issues of a more personal nature, like finding career fulfillment and figuring out what’s most important to you.

The Harvard Business Review confirms that business owners and managers decide to work with a business coach for a wide range of reasons – 48% to facilitate a business transition, 26% to act as a sounding board and 12% to address problems derailing the company. Maybe your business is just starting out and needs help moving in the right direction. If so, contact Michael now!

The need for powerful business coaching is greater than it’s ever been in history. This means there has NEVER been a better time to hire Michael Kissinger as your  business coach.

Emerge Coaching | Testimonials - what people say about our coaching

“Problems we were facing in our contracting business included a severe cash flow crunch, quickly accelerating material cost, employees duplicating work and software programs. Michael Kissinger quickly analyzed our business and presented us with a successful plan of action.” Rebar Subcontractor

“Michael Kissinger could not have been a better fit for us. They quickly understood our requirements and worked toward improving our operations while being mindful of the staff. Their patience with us was appreciated and the key factor in our positive outcome. ” Contractor

“We are excited about the new procedures, controls and innovations that PBI has initiated and implemented. We feel that these changes have already proven to be beneficial. We have begun to see more productivity in our operations area in the short time we have been working with Michael Kissinger. Preparing and implementing budgets and cash forecasting will allow us to resume good relationships with our suppliers and will provide us with the tools to keep our payables on track. ” Custom Home Rehabilitation

“There is no way to express the impact that Michael Kissinger had on my company and employees. We have learned so much in such little time and they have enabled us to see that we have so much more potential as a business and individuals than we ever realized. ” Contractor

“Michael Kissinger has been very professional and great to work with. If it were not for their honesty and sincere concern, my company would not have moved forward. I am more-than-comfortable working with them.” Contractors

“We are very pleased and satisfied with the service provided to us by Michael Kissinger. He helped us reach and maintain our company goal. We have enjoyed working with them and are very grateful for what they have helped us to accomplish. ” Contractor

“I am most appreciative of Michael Kissinger ‘s willingness to handle the everyday situations that have helped us learn how to run the business. These included collecting payments owed, presenting information to the bank for a letter of credit and helping design a sales program. He was very willing to work closely with us to help train my employees.” Contractor

“I could tell from the first morning on the job that the Michael Kissinger’s participation in all aspects of our office operations that she was serious about helping our firm. Her ability to assess conditions and make adjustments to improve operations was amazing and resulted in saving time and my money.” Contractor

“Before Michael Kissinger ‘s arrival, I was almost at my wits end, but within one month I am positive that my company is on the right track to becoming profitable and successful. Michael ‘s insights on running a business have been beyond reproach and have taught me valuable lessons in areas such as personnel management and business finance.” Heating and Air Conditioning Contractor

“With a joint effort from Michael Kissinger and myself, I know my business will grow and succeed like never before. The benefits now available for my employees will surely make them happy and be proud to be associated with this company. “Heating and Cooling Contractor

“Because of Michael Kissinger, we are excited about our future and have a new positive attitude on going forward and having control of our material and labor costs, managing inventory, marketing and running smoothly to ensure a positive cash flow.” Homebuilder

“After utilizing Michael Kissinger, I have hope and feel better about where our business is headed. I have been taught invaluable lessons about how to make things better and how to run our company more efficiently. ” Homebuilder-Plumbing Contractor

“With Michael Kissinger ‘s help, our company is now operating with an efficiency beyond even my own expectations of what I thought was possible in such a short time. I am personally looking forward to a lasting relationship with Michael. ” Painting Contractor

“It has been a pleasure to work with Michael Kissinger assessing the opportunities and challenges of improving the profitability of our new landscaping business and instituting changes that will ensure that we move quickly to reach these objectives. I have enjoyed working with Michael Kissinger and I sincerely believe that we could not have repositioned the company without your insight, assistance, and guidance. ” Landscaping Contractor

“Michael Kissinger worked closely with us to develop job descriptions, evaluations and human resource documents that mesh well with our company personality. He treated our personnel with respect while teaching us new ways of thinking and new ways of organizing our resources and financial records. I enjoyed his willingness to take the time to talk through the issues and concerns I have as the owner of the company. ” Electrical Contractor

“Michael Kissinger designed and installed systems such as budgeting procedures, estimating processes and cash flow procedures that will increase our profits and allow us to operate much more efficiently. They also educated us on these systems so that we can continue the flow of a successful business long after they are gone. ” Landscaping contractor

“When Michael Kissinger came to our business, we were faced with a serious financial crisis, dwindling sales, poor morale and were struggling to find our way out. We had an idea of where we needed to go but did not have the tools to get there. Thanks to Michael, we now have those tools, a clear vision of where we are going and the proper attitude to get there. ” Landscaping Contractor

“The implementation of positive changes along with the upgrading of our accounting systems would never have gotten off the ground without Michael Kissinger ‘s help and guidance. Their knowledge of sound business practices and skill of using the tools available in business today enabled us to make the transition to a more professional operation ” Homebuilders.

“Through the Kissinger’s process of identifying operational flaws and methodically approaching the flaws with tools countervailing inefficiencies, success will be attained with proper implementation, monitoring and adjustments.” Electrical Contractor

“The plan Michael Kissinger developed was aggressive and entailed the necessary changes we needed to make as a company. We realize that we have a great deal to accomplish to take our company to the next level, but with the tools that Michael have installed, we are well on our way to reach our goal.” Electrical Contractor

“The way Michael Kissinger has conducted the consultation has allowed us to continue with our daily work and business as well as ease into the changes that have been implemented. It is evident that our company is moving in the right direction due to the effort and concern Mr. Kissinger has put forth.” Electrical Contractor

“We are a young company, just finishing our fourth fiscal year. Michael Kissinger has provided a great education for my staff and me. I intend to be in business for a long time and this will keep us going strong.” Masonry Contractor

“With the operational plans that Michael Kissinger laid out, I now can run the business instead of letting it run me. I will recommend PBI to other businesses in the future. “Carpentry

” Mr. Kissinger has listened to and observed our needs, wants and desires. In listening and observing, he has repaired our business in all the right places. They have been wonderfully patient and precise with solutions. We now have the much-needed tools to ensure success both financially and with our staff.” Civil Engineering

“I can honestly say that I have learned a good deal about the financial and organizational health of my company in a very short period, particularly the services I need to help the company grow and prosper in the future. I was impressed with the degree of understanding and knowledge that Michael Kissinger brings to the table and level of professionalism they gave to my staff and me.” Land Surveyors

“Michael Kissinger has taught us the skills and given us the information necessary to manage our business properly. He took the time to listen to what we wanted to do and understand the goals we wanted to achieve and helped us to put that plan into action.” Contractors

“Michael Kissinger helped us identify several areas in which we may improve our profit. For once, we truly know what our overhead is and how to properly track costs. They also helped us to implement a workable cash flow program and get back on track with our vendors. We truly appreciate their knowledge and help in these areas.” Electrical Contractor

“I would like to commend Michael Kissinger for his professional approach and personal courtesy shown to us on our project. The financial planning and marketing strategies we have learned will facilitate growth in our company. “Pool Installation.

“Michael Kissinger’s work ethic and accomplishments with our company’s reorganization was top notch. We were able to set our company’s annual budget, set up an accounting program and manage employees. Many more significant contributions were made, as well. “Pool and Spa Installation

“My experience with Michael Kissingerwas a rewarding one. The knowledge and resources we have received are invaluable. Our company has and will continue to benefit greatly from his consultation. I am impressed with the high level of professionalism each of their consultants exhibited while working with us.” Window, Trim and Vents Contractor

“Michael Kissinger has helped us with the various financial aspects of our business including budgeting, cost control and teaching us to implement the plan in our daily business activities. I appreciate their patience while we gathered all pertinent documents and their willingness to stay and teach. He worked onsite with us during normal business hours and helped a variety of people in our organization. ” Contracting Company

“Michael Kissinger was brought in to help us cope with the problems of controlling expenses and in particular to develop shop rates, which aid us in estimating quotes with built in predetermined profit and cash flows to sustain debt service and growth. The development of a strategic plan with marketing and sales planning has moved us forward in those market segments to expand sales growth and profits. The flexible budget and planning system have improved our focus to control expenses and grow profitably. ” Remediation Management

“Our business has been in the family for almost 100 years and I was deeply concerned that we would be out of business in a few short years. Now, with Michael Kissinger ‘s help, I am excited about the future of the company and its profitability. My sons and daughter are excited about being a part of growing and viable company. ” Plumbing Company

“I truly believe that the information I have received from Michael Kissinger will make me more profitable. From the incentive program to the setup of our new accounting system, to the liberation of my time, I thank you for all your help.” Landscaping Company

Schedule Appointment | Sell Jewelry in Downtown CA 92101 | Sell and Buy  Gold in Chula Vista CA 91910

FEES

How much you pay for Michael Kissinger’s business coaching is dependent on your needs and wants. He works on a performance for results basis with many clients.

Michael Kissinger as your an independent business coach charges between $1,000 – $2,000 per day, for 1 day per month, and not bring a team or many frameworks If you invest less than $2,500/month in coaching your progress will be slow because you aren’t spending enough time with us

The hourly rate for Michael Kissinger can cost around $200 to $750 an hour, with most of his business coaching in the $300 to $500 price range. He will also agree to a set monthly rate that will cover your sessions, which might include follow-up phone calls and emails.

Fees are negotiable. Our associates hourly rates can range from $125 to over $500 an hour. Our rates and fees are based on a number of factors. Rates vary based on the size of the company, the level of executive, the type of coaching, the experience of the coach, and the package of services that you arrange with us.

NOTE: Rates do not cover travel time, travel expense, hotel or other items like these. To reduce your fees we recommend using online services as much as possible.

CONCLUSION

Michael Kissinger remains committed to 100% customer satisfaction and has drastically improved his business processes over the years to better serve his clients. He is truly dedicated to making sure ALL customers are happy with their coaching and consulting. He continues to show client service is of the utmost importance and that they currently have no complaints!

If you like the services, you were provided Michael Kissinger please tell us. Call 415-678-9965 for your appointment now.

Disclaimer: Our vision is to help you bring your biggest dream into reality. As stipulated by law, we cannot and do not make any guarantees about your ability to get results or earn any money with our ideas, information, tools or strategies. Your results are completely up to you, your level of awareness, expertise, the action you take and the service you provide to others. Any testimonials, financial numbers mentioned in emails or referenced on any of our Blog pages should not be considered exact, actual or as a promise of potential earnings – all numbers are illustrative only, as I’m sure you understand. That being said, we believe in you and we are here to support you in making the changes you want for your life and giving you methods, strategies, and ideas that will help move you in the direction of your dream.

Published by Sydney Reitenbach

Helping women live better lives, create success faster, build a business and assets they love while creating unlimited incomes both part or full time. Join us. Risk Free Satisfaction Guarantee

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