What I’m about to share with you in this email are bits and pieces (talking points) from a security marketing seminar that I host and attendees pay pay big bucks for! It’s some pretty important stuff, so pay attention…your getting lots of FREE info here!
Critical Success Factors (CSF)
This is the life or death of your electronic security business and or career. There are about 5-7 of these factors in your work. You need to grade them on a scale of 1-10 and work on any that are under a 7.
These factors are things like selling, prospecting, identifying new security markets, client retention, learning new technologies, sales and marketing.
Your strongest CSF sets the height bar for the others to reach.
This leads to the The Theory of Constraints that says there is always something you’re doing or not doing that determines your speed. What bottlenecks or limiting factors are in your business or life? What are the constraints that determine how FAST you succeed? How long does it take you to get through these choke-holds?
Is it getting a client referral system up and running? Creating a service maintenance agreement program? Starting a client newsletter? Selling a managed access control system? Or creating a direct mail piece promo for biometric eye scanner? Up-Selling?
80% of constraints are internal and only 20% external. This means that most of you bottlenecks are there because of you just not doing something, cuz you’ve gotten lazy about it, or haven’t taken the time to learn something or paid a pro to do it for you.
You need to ask yourself what it is in you that’s holding you back. Is it marketing? Selling expertise?
It’s usually lack of a skill or quality that’s the problem.
Ask yourself… “What’s one skill, if I had and did it in an effective manner, would have the most profound impact in my business?”
Maybe that’s what you should be learning…
You have to have courage. Risk-taking. There no guarantee of success. Just do the things you fear and the death of fear is certain.
Is it cold-calling? Knocking on doors? Hiring a sales rep? Sending out a newsletter? Sending multi-step direct campagin to high-end home owners?
What ever it is that’s holding you back…. Just do it!
Do You Have a Pension?
Do you have an adequate pension fund? Are you banking everything on selling your monitored accounts?
Do you realize that by putting $100 bucks per month for 45 years at just a meager 10% interest ends up as $1,118,00.00. That’s a decent retirement for pocket change. (For my younger readers this should excite you into getting started) For the older bucks maybe we need to start putting a little more away each month.
Parkinson’s theory says that expenditures rise to meet your income. You must violate this principle to build real wealth. Drive a wedge between this trend.
Don’t automatically buy a more expensive car because you make more money. Don’t buy the most expensive castle.
When you start making more money, the first thing you must do is take some of that increase and funnel it into savings and investments.
You want to detrimine what your “Run-Rate” is. If you liquidated everything you currently own how long could you live?
Accelerate Your Earning Power
Here are a few things that you can do to contribute to your earning power and thus your run rate…
- Continuous learning. The key to the future belongs to the competent.
- To earn more we most learn more.
- Invest 3% of your income in your own personal development. The payoff is 40-50 times the investment
How Can You Do This?
- Read 1 hour per day on sales and marketing or newfangled security technologies. By reading 1 book per week, 50 books per year, 500 in 10 years. You’ll be a world-famous security guru (TM)
- Attend every seminars and trade shows you can get to.
- Listen to CD’s on sales marketing strategies.
By listening to CD’s in your car or van you can be the very best. In one year alone you can listen to 500-1000 hours in your car. That’s 3-6 months of a 40 hour work week and 1-2 university semesters.
Formal Education vs. Self- Education
As the late Gr8 Jim Rohn used to say, “Formal education gets you a job, self-education will make you a fortune.”
It’s easy to do and it’s easy not to do…so what are you plans?