If You're Not First, You're Last

1. Embrace Economic Contractions as Opportunities to Advance

Problems are opportunities, and conquered opportunities equal money earned.

Shift your perspective. Economic contractions are not just challenges, but opportunities to grow and dominate your market. While others retreat, you can advance by taking decisive action. This mindset allows you to:

• Seize market share from competitors who are pulling back
• Identify new business opportunities that arise from changing economic conditions
• Develop innovative solutions to address emerging customer needs

Take massive action. During tough times, increase your efforts exponentially to offset any market slowdown. This might include:

• Doubling down on client outreach and prospecting
• Investing in personal and professional development
• Exploring new markets or product lines previously overlooked

By viewing economic challenges as catalysts for growth, you position yourself to not just survive, but thrive in any economic climate.

2. Reactivate Your Power Base and Past Clients

The difference between a contact and a contract is the relationship, and if you don't continue contact, you will never create the relationship necessary to turn the contact into a contract.

Leverage existing connections. Your power base – friends, family, past employers, and acquaintances – is a goldmine of potential business. Reactivate these relationships by:

• Making personal calls to catch up and express genuine interest
• Scheduling face-to-face meetings or "drop-by" visits
• Following up with personalized emails or letters

Reconnect with past clients. Don't let valuable relationships fade away. Reach out to former customers to:

• Check on their satisfaction with previous purchases
• Offer upgrades or complementary services
• Ask for referrals to expand your network

Remember, maintaining and nurturing relationships is often more cost-effective than acquiring new clients. By consistently engaging your power base and past clients, you create a sustainable network of opportunities and referrals.

3. Convert the Unsold and Multiply Through Existing Clients

Winners never quit, and quitters never win!

Persistence pays off. Don't give up on leads that didn't convert initially. Instead:

• Follow up consistently, using multiple channels (phone, email, in-person visits)
• Approach each interaction as a fresh opportunity, reassessing needs and offering new solutions
• Be creative in your follow-up methods, providing value with each contact

Maximize existing client relationships. Your current clients are a valuable source of additional business:

• Always ask for referrals after providing excellent service
• Look for opportunities to upsell or cross-sell complementary products or services
• Cultivate a "promoter" mindset in satisfied clients by exceeding their expectations

By focusing on converting the unsold and expanding relationships with existing clients, you can significantly increase your business without the high costs associated with acquiring new customers from scratch.

4. Deliver at "Wow" Levels and Focus on Value, Not Price

Don't seek to satisfy; seek to wow.

Exceed expectations. In a competitive market, merely satisfying customers isn't enough. Strive to deliver experiences that truly impress:

• Go above and beyond in every interaction, from initial contact to after-sales service
• Look for unexpected ways to add value or solve problems for your clients
• Create memorable moments that clients will want to share with others

Build value, not discounts. Instead of competing on price, focus on demonstrating the unique value of your offerings:

• Clearly articulate how your product or service solves specific problems or fulfills desires
• Emphasize the long-term benefits and return on investment
• Package your offerings in ways that highlight their full value proposition

By consistently delivering exceptional experiences and focusing on value creation, you differentiate yourself from competitors and justify premium pricing, even in challenging economic times.

5. Repackage Your Offerings and Implement Effective Marketing Campaigns

Repackaging to solve problems didn't just satisfy our existing clients; it allowed us to attract brand new customers and reenergized the company during a time when energy is everything!

Adapt to changing needs. Economic shifts often require rethinking your product or service offerings:

• Break down larger packages into smaller, more affordable options
• Create bundles that provide enhanced value at attractive price points
• Develop new products or services that address emerging customer pain points

Market aggressively and creatively. While others cut back on marketing, seize the opportunity to stand out:

• Increase your marketing efforts, taking advantage of potentially lower advertising costs
• Utilize a mix of traditional and digital marketing channels for maximum reach
• Focus on cost-effective, high-impact strategies like content marketing, social media engagement, and targeted email campaigns

By repackaging your offerings and maintaining a strong marketing presence, you stay relevant to your customers and capture market share from less adaptive competitors.

6. Develop a Power Schedule and Maintain a Positive Attitude

Time × Actions = Measure of Advance

Maximize productivity. Create a disciplined daily schedule that optimizes your time and energy:

• Start and end your day at consistent times
• Block out specific periods for high-priority tasks, client interactions, and personal development
• Eliminate time-wasting activities and focus on actions that drive results

Cultivate positivity. Your attitude significantly impacts your success, especially during challenging times:

• Limit exposure to negative news and surround yourself with positive influences
• Practice daily gratitude and visualization of your goals
• Reframe challenges as opportunities for growth and learning

A power schedule combined with a positive mindset ensures that you consistently take productive actions, even when faced with adversity. This approach builds momentum and resilience, setting you apart from competitors who may be paralyzed by negativity or lack of structure.

7. Create Your Freedom Financial Plan and Master the Art of Selling

The degree to which you know how to sell encompasses your ability to effectively communicate, attain an agreement, handle objections, be likeable, generate opportunities, give great product demonstrations, negotiate, and know how to close.

Financial empowerment. Develop a comprehensive financial plan that goes beyond budgeting:

• Set clear financial goals for short-term needs and long-term aspirations
• Create strategies for generating surplus income and investing wisely
• Continuously educate yourself on financial management and wealth-building principles

Sales mastery. Recognize that selling is a crucial skill for success in any field:

• Invest in ongoing sales training and skill development
• Practice and refine your ability to communicate value, handle objections, and close deals
• Apply sales principles to all aspects of your professional and personal life

By taking control of your finances and honing your sales skills, you create a foundation for long-term success and independence, regardless of external economic conditions.

8. Adopt an Unreasonable Attitude to Guarantee Success

Be outrageous in your thinking, relentless in your execution, and unreasonable in your actions, and you too will advance and conquer.

Break free from limitations. Achieving extraordinary success often requires breaking conventional norms:

• Challenge assumptions about what's possible in your industry or market
• Be willing to take calculated risks and pursue ambitious goals
• Ignore naysayers and stay committed to your vision

Relentless execution. Success comes from consistent, determined action:

• Set audacious goals and break them down into daily actionable steps
• Persist in the face of setbacks, learning and adapting as you go
• Continuously push yourself beyond your comfort zone

An unreasonable attitude, combined with relentless execution, allows you to achieve what others deem impossible. By refusing to be constrained by conventional wisdom or temporary setbacks, you position yourself to create breakthrough results and dominate your market.

Last updated: September 25, 2024