If you have ever read the classic book, Acres of Diamonds, you know that most people today have extra enjoy, a lot more money and extra of anything they wish nicely inside their current reach.
If you have not study it, I’ll give you a rapid overview of the book in the beginning of this article. In my opinion, it really is a “will have to read” for just about anybody.
In Acres of Diamonds, Russell Conwell writes about Ali Hafed. Ali was a farmer who owned acres of farmland. Like most human beings, Ali desperately wanted to be wealthy.
A single day, his Priest told him that if he could just locate 1 diamond, the size of his thumb, that he could buy the whole country and live the rest of his life as an particularly wealthy man.
So, like many people do, Ali sold the family members farm and went browsing for diamonds. He searched all over the globe, at some point going completely broke and ending his life by suicide in the ocean.
Shortly following Ali’s sad departure, the gentleman that bought his farm was providing his horse a drink from the river that ran by means of the home. As he was standing on the river bank watching his horse drink, he noticed a sparkle in the water. As he looked closer, he located a gorgeous stone that glistened in the sun. He picked it up, and thought practically nothing of it till the Priest stopped by and pointed out that it was certainly – you got it – a diamond!
As the story goes on, we uncover that the whole farm sat on acres and acres of diamonds and became 1 of the world’s biggest diamond mines.
Poor Ali had acres of diamonds proper under his nose the whole time and – rather of leveraging what he already had – he left it behind for a miserable life and death.
The moral of the story is quite straightforward to see, and I am sure you know it by now
I think that we all have our personal figurative acres of diamonds.
And, this is where it gets very good for you
You have your personal asset, just like Ali, and I want to enable you harvest it in this post.
You happen to have the trust and respect of folks who are in a extremely precious stage of their life. As you in all probability know, there are precise life events that surround the need to have for home upgrades such as granite countertops. And, it is essential that you know what they are. I will inform you what they are in a moment – and even inform you how to capitalize on them, but prior to I do, I want to make a point.
I talk to stone fabricators like Ali each day. Regardless of their size or profitability, they all want additional small business.
But, like Ali, they are all looking for a answer outdoors of their existing asset. When there is nothing at all in distinct incorrect with this thinking, I advise them to appear inside their existing asset for profit opportunities prior to they invest in far more solution offerings, a bigger yellow page ad, or what ever they are pondering of doing.
Now, spend attention, I’m about to inform you some thing so easy and useful that you could pass it up due to the fact of its simplicity.
Conventional thinking in the countertop sector tells us that property owners have a lifetime worth that is made up of a particular quantity of total upgrades, future job requests, and referrals. I hear numbers all over the board.
To calculate your typical consumer value, you need to very first obtain out your typical revenue per job. Basically take your gross income over the final 12 months and divide it by the total number of jobs completed.
Next, uncover out how considerably a buyer referral is worth. For instance, if you typical 1 referral for every 3 property owners divide your typical income per job by 3. You can then add this to your typical income per job you just calculated. You have now determined your typical lifetime buyer value.
Got that? Okay, let’s move on.
Now that you have that, let’s use an example figure so we can continue. Let’s say your typical client value is $7,000.
You CAN boost that number without having raising costs, with no adding yet another consumer, or without the need of selling them flooring or cabinets. This is just one particular of your own “acres of diamonds” that you have within your countertop enterprise.
Now, recall earlier in this report when I stated that persons who want new countertops normally are going via a certain life occasion? Knowing these events is so important, but couple of folks in fact take the time to believe about them. The most frequent important life events are:
Moving. Either somebody intends on selling their dwelling or has just moved into a new dwelling.
New Job & Inheritance. Men and women who have come into added funds or income.
Empty Nest. Now that the youngsters are gone there is a lot more money for house improvements and/or the age of the home demands it.
Marriage. New countertops to improved delight in their property collectively.
There are a handful of more, but those are the big events I’d like to focus on in this short article. “Okay, now what?” you say
Nicely, keep in mind when I told you that you can increase the lifetime value of every single buyer? And, keep in mind when I told you that the trust and respect from your consumers is incredibly useful? This is exactly where it all comes with each other.
By forming joint ventures with respectable nearby businesses that can fill a want that persons in those major life events are searching for, you can raise the worth of several of your prospects by 25%, 50%, 200% or much more!
Just like you, neighborhood businesses are attempting just about every day to develop their sales revenue. So, like you once more, they promote. This all performs out so that they have a customer acquisition cost. Some will spend a handful of bucks for new consumer, but other folks will spend numerous hundred or even much more than $1,000 to acquire a new consumer.
Now, what if you leveraged your trust and customer relationships and gave them a certified client? Do you consider the business would spend you a commission for that client? You bet they will! If you happen to be paying $one hundred for a new client through your marketing efforts, would you be wiling to pay $80 for a new client if somebody brought it to you? Of course you would.
If a neighborhood small business is paying $250 for a new client, they’d appreciate you to bring them new customers at $200. They save $50 and are dealing with a great client. In that circumstance, you just elevated your lifetime worth by $200.
Do that Gators Granite of instances and you have just struck diamonds!
Type alliances with nearby companies like: movers, realtors, estate planners, carpet cleaners, and so on. Consider of companies that can help people today in the main life events we talked about and the list of organizations will be effortless to form.
For example, folks who want to place their dwelling up for sale have to have a realtor, moving corporation, probably a handyman service to make their property presentable and very a bit of moving supplies. A couple who just got married almost certainly want to speak to a very good interior decorator, life insurance salesperson, economic planner the list is endless.
Meet with the choice maker of these nearby organizations to work out a fair commission and tracking technique that each of you are comfy with. Do this multiple occasions, until you have a nice slate of joint venture partners. Then make nice advertising materials to present to your shoppers that outline the positive aspects of working with your joint venture partners.
Just before lengthy, you are going to be finding commission checks in the mail and your buyer worth will go via the roof. That, my friend, is 1 massive acre of diamonds inside your current enterprise!