52 Week Video Series – Week 5 – The Four Ps!

Do you REALLY know how to make customers return to you time and again? What are the four Ps that make them use YOUR services/ and business more than anyone else’s?

 

 

 

I look forward to hearing how you get on increasing your business by using these four Ps!

Look after the pennies ….

You’ve heard it said ‘Look after the pennies and the pounds will look after themselves’ and it’s true that small amounts can compound into big amounts if you are consistent.

Look after the pennies

In Best Nest, we hold dear a phrase that has served us well – ‘Low-cost, no-cost ’ which we use as a yardstick to test and assess new ideas, tools and concepts. The other useful question is to ask ‘Is this action/ tool scalable?’. We want to build a big business that is profitable and operates with as little as possible of our time and energy! But as we all know, profit can easily be eroded by spending too much money on fripperies, doodahs or tat. (Technical terms which Andy applies to any spending that is not in the budget). Watch out Wendy.

 

As well as investing for your future, you need to think about measuring your return on investment, time and energy. If you are better served by outsourcing an activity, and leveraging that person’s time to do something you are better at, do it! As long as they can help generate income or reduce costs long term, they’re worth having.

 

Although you will have to invest in staff (or contractor) costs, as long as you don’t utilise that time for catching up on Loose Women, you’ll soon realise the power and efficiency of other people’s time and skills. There are some great websites out there to help you too –

www.peopleperhour.com

www.workable.com

www.timeetc.co.uk

 

So make sure you measure what you treasure – that is your time, income, profit and energy – and learn how you can employ them wisely in your business to grow and fulfil your lifestyle and income plans!

 

To your growth!

Wendy

 

Do it, Delegate it or Ditch it!

Boring, dull, monotonous – these are often how we think of the small aspects of our lives and business aren’t they?  Many of these small things are SO important though, as like breathing, drinking water, and sleeping they create a rhythm which keeps our businesses healthy and infection-free.

I’m talking here about phonecalls (to agents, investors, contacts, leads)

And  viewings.

and replying to emails and managing paperwork.

and office organisation

or money management

and closing deals and negotiating

and managing projects and builders

Maybe room dressings and photos

and  advertising, agents, tenanting

I’m talking about maintenance and spreadsheets and tradesmen.

I’m NOT talking about MONEY IN YOUR POCKET. I’m NOT talking about PASSIVE INCOME.

[WHY? Because those things are easy and we all LOVE those benefits!!]

“BUT “– ( I can hear you say) “WHAT IF I ABSOLUTELY LOATHE DOING THOSE THINGS WENDY”?

In other words, you know they NEED to be done, so that you can MANAGE, SCALE and GROW. But you cannot face doing them?

Well in that case your small things need to be –

  • Ditched (not a choice if you are going to create passive long-term income)
  • Done by you (but only those you are GOOD at and you ENJOY)
  • Or Delegated. THIS IS THE ANSWER.

If not you will end up DEFERRING your results, DELAYING your financial freedom and DESTROYING your hope.

NONE of which I want for you.

“BUT WENDY” ( I can hear you say)” I CAN’T AFFORD TO EMPLOY SOMEONE TO DO THE THINGS I HATE” . Ok well find some other way to reward those who help you. You are an entrepreneur – draw on your creative skills and utilise those around you (and in this group) effectively!

You could

  • Pay an overseas VA such as one of these: https://www.onlinejobs.ph/
  • Swap an hour of your expertise with an hour of someone else’s office organisation skills
  • Use one of your practical skills to swap for someone else’s time
  • Share a percentage of your profits for three months with someone who helps you find a great deal

Solve someone else’s pain and in doing so, you will find your pain is solved.

Luke 6: 38 “Give, and you will receive. Your gift will return to you in full–pressed down, shaken together to make room for more, running over, and poured into your lap. The amount you give will determine the amount you get back.”