A $40 Million Dollar Little Known Referral Strategy
by: David Frey
Copyright 2005 David Frey
Would you like to know how a car wash chain with only 12 locations has cleaned over 33,373,975 cars and has an annual revenue of over $40 Million (that is not a misprint) using little to no paid advertising?
Well, sit forward because I'm about to tell you. The company name is "Car Spa" and here's how I discovered their brutally effective referral strategy. I often go to Taco Bell to have lunch and read a book. I noticed a little flyer next to their cash register.
A few days later I stopped in with my family to get a frozen yogurt and right next to the cash register was the same flyer.
The next day, I took my family to our favorite buffet restaurant and low and behold, there was a stack of Car Spa flyers.
I then started asking the people at these locations what the deal was with the Car Spa flyer that they had next to their cash register and they all said that some old guy comes around every week and replenishes their stack.
I asked them, "Do you have some type of reciprocal arrangement with Car Spa?" They all said, "No...they asked if they could put their flyers there as a gift to our guests and we said sure."
Here's a copy of the referral flyer that Car Spa uses to drive traffic.
http://www.marketingbestpractices.com/temp/car_spa.pdf
Pretty simple. Notice the 48 hour guarantee.
______________________________
They're All Over the Place!
______________________________
Before you knew it, I started noticing their little discount flyers ALL OVER THE PLACE.
The copy center I use had a stack of Car Spa flyers.
The barber I use had a stack of Car Spa flyers.
The oil and lube place I use had a stack of Car Spa flyers.
The local handicraft shop my wife goes to had a stack of Car Spa flyers.
My son's dentist had a stack of Car Spa flyers in his office.
My local chiropractor friend had a stack of Car Spa flyers in his office.
An apartment complex office I visited had a stack of Car Spa flyers.
Everywhere I went, I saw a stack of Car Spa flyers. It was amazing. The have these little "referral lead generation magnets" all over the place.
______________________________
So I Finally Visited Car Spa
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And it wasn't any surprise that they were so busy that it took about 15 minutes of waiting just to get my car into their car wash.
I then went inside their office to wait for my car and noticed that they did NOT have one flyer from another business inside their office.
They were able to get all those other businesses in the area to send them referrals without having to do one reciprocal referral arrangement. And they did it simply by asking the business owners. That's all.
Car Spa probably gets 100 times the amount of referrals of any other business in the area as a direct result of this simple referral tactic.
If you have a brick and mortar business, what's stopping you from doing the same thing? All it takes is a couple of hours a day and a handful or referral flyers to pass out.
About the author:
David Frey is the author of the best-selling manual, "The Small Business Marketing Bible" and Senior Editor of the highly-acclaimed, "Small Business Marketing Best Practices Newsletter." To get your free lifetime subscription simply visit http://MarketingBestPractices.com
©2005 - All Rights Reserved
Another good place to check Small Business Information - please Internet Employ
Small Business Information
Monday, May 08, 2006
Thursday, May 04, 2006
9 things you must do to maximize your chances
To get approval for your small business loan application, you must be able to meet the lending criteria set down. Some organisations are more risk averse than others, and will therefore have more stringent criteria.
To vastly increase your chances of a successful funding application, you will need to present the following information:
1. The reason for the loan. The lender will be looking for something that fits within the normal range and expertise of your business. The amount may cover a number of items, so you will need to cover each.
2. The amount required, and the repayment term of the small business loan you want. (e.g. $10,000 term 5 years, payable quarterly).
3. Details of how you will repay the amount borrowed. For example, “From the increase in profits of reduced running costs of the Whizzbang Go4It”
4. Details of security you will be able to offer to the lender. This will act as reassurance for the lender. If you’re not prepared to put up some aspect of security, then why should they?
5. You will need to include your business plan which will serve to answer essential questions relating to management capabilities, information about the market you operate in. What kind of business you are in etc.
6. 3 Years financial statements. You will need to present quality financial information from your accounting software, preferably signed off by your accountant or tax advisor.
7. Latest Set of Management accounts. Again produced from your accounting software.
8. Accounts receivables (debtors) and payables (creditors) ageing reports.
9. Principals financial statements. – Particularly required if some form of security is necessary.
If you are a new company, the emphasis is going to be on your business plan, and the security (also called collateral) you or your business can provide against the loan.
You must take the time to practice presenting your case to the bank or lender to iron out any glitches. Practice on your colleagues and family (you never know, they might be so impressed, they'll invest or lend!). It may help to role play the lender and come up with as many pointy questions as possible. The more time you take the better your chances will be. (But remember, don’t fall into the analysis paralysis trap!)
Good luck!
About the author:
Neil Best is an accountant with over 15 years experience in business finance. This article and other useful business finance information such as making effective business plans and sourcing and applying for business grants can be found at http://www.smallbusinessfinancetips.com/small-business-loans.html
Circulated by Article Emporium
©2005 - All Rights Reserved
Another good place to check Small Business Information - please Internet Employ
To vastly increase your chances of a successful funding application, you will need to present the following information:
1. The reason for the loan. The lender will be looking for something that fits within the normal range and expertise of your business. The amount may cover a number of items, so you will need to cover each.
2. The amount required, and the repayment term of the small business loan you want. (e.g. $10,000 term 5 years, payable quarterly).
3. Details of how you will repay the amount borrowed. For example, “From the increase in profits of reduced running costs of the Whizzbang Go4It”
4. Details of security you will be able to offer to the lender. This will act as reassurance for the lender. If you’re not prepared to put up some aspect of security, then why should they?
5. You will need to include your business plan which will serve to answer essential questions relating to management capabilities, information about the market you operate in. What kind of business you are in etc.
6. 3 Years financial statements. You will need to present quality financial information from your accounting software, preferably signed off by your accountant or tax advisor.
7. Latest Set of Management accounts. Again produced from your accounting software.
8. Accounts receivables (debtors) and payables (creditors) ageing reports.
9. Principals financial statements. – Particularly required if some form of security is necessary.
If you are a new company, the emphasis is going to be on your business plan, and the security (also called collateral) you or your business can provide against the loan.
You must take the time to practice presenting your case to the bank or lender to iron out any glitches. Practice on your colleagues and family (you never know, they might be so impressed, they'll invest or lend!). It may help to role play the lender and come up with as many pointy questions as possible. The more time you take the better your chances will be. (But remember, don’t fall into the analysis paralysis trap!)
Good luck!
About the author:
Neil Best is an accountant with over 15 years experience in business finance. This article and other useful business finance information such as making effective business plans and sourcing and applying for business grants can be found at http://www.smallbusinessfinancetips.com/small-business-loans.html
Circulated by Article Emporium
©2005 - All Rights Reserved
Another good place to check Small Business Information - please Internet Employ
20 Small Business Tips, For Success
These are just some general tips to keep in mind as you design/operate your small business:
1. Take the time out to explore and understand whether or not you are compatible with running our own business. Some people are just plain happier and better off financially on the other end of the paycheck.
2. Get your personal finances in order. Before you jump into the entrepreneurship world, get your own money matters squared away.
3. Pick your niche. Many small business owners succeed in businesses that are hardly unique or innovative. Take stock of your skills, interests, and employment history to select the business that is best suited for you.
4. Benefit from your business plan. The exercise of creating a business plan is what pays the dividends. Answer the tough questions now before the meter starts running.
5. Do not think you don't need bankers and investors at the outset of your business. The vast majority of small businesses are bootstrapped.
6. Acquire the proper background. In the early months and years of your business, you will have to acquire many skills. Gain the background you need to oversee all facets of your business well, but determine what tasks you should outsource or hire employees.
7. Remember that nothing happens until a sale is made – How many good products go nowhere because they do not reach the shelves? Sales drive your business. You will need a good marketing plan to sell your product or service.
8. You have to see a customer to know one. N o matter how busy you are, spend at least 25% of your time with customers. You cannot make the proper business decision without understanding their viewpoint.
9. Solve your customers’ problems. The best way to satisfy your customers is not by selling them products but by giving solutions to their problems. There is a big difference.
10. Quality takes minutes to lose but years to regain. Quality is not a destination, it is a never ending journey. After you have strayed from quality’s path, your journey maybe sidetracked forever.
11. Put profitability first, rewards seconds. In small businesses, profitability must come first. Find out how to measure your cash flow and understand key financial ratios.
12. Hire supporters. If you intend to create a growing business, your number one duty is to assemble a great team of employees.
13. Do not do it alone. Find such help from small business peers, a mentor, even trade associations. They can help take some of the trial and error of beginning your business.
14. Vendors are partners too! Treat your vendors like customers and watch your partnership grow.
15. Make use of benefits. Understand how to provide insurance and other benefits for your employees and cut your tax bill at the same time.
16. Ignore regulatory issues at your peril. Federal, state, and local governments require licenses, registrations, and permits. Obey them or face losing your business.
17. Know the tax laws. Invest in understanding tax issues that affect your small business.
18. It’s the people! Whatever happens to a small business happens at the hands of the people who work for it. The evolution of the business is a result of their efforts.
19. Fast, good, cheap. Pick any two. Serious trouble awaits those who attempt to be all three in the market place. Stick with what you do best.
20. Develop a passion for learning. As your business grows, you need to change and grow along with it. One common denominator can be found in all successful business owners and that is a passion for learning.
About the author:
For more great business, marketing and mind power ideas to develope your business visit the Higher-Profits Blog at www.higher-profits.com
Another good place to check Small Business Information - please Internet Employ
1. Take the time out to explore and understand whether or not you are compatible with running our own business. Some people are just plain happier and better off financially on the other end of the paycheck.
2. Get your personal finances in order. Before you jump into the entrepreneurship world, get your own money matters squared away.
3. Pick your niche. Many small business owners succeed in businesses that are hardly unique or innovative. Take stock of your skills, interests, and employment history to select the business that is best suited for you.
4. Benefit from your business plan. The exercise of creating a business plan is what pays the dividends. Answer the tough questions now before the meter starts running.
5. Do not think you don't need bankers and investors at the outset of your business. The vast majority of small businesses are bootstrapped.
6. Acquire the proper background. In the early months and years of your business, you will have to acquire many skills. Gain the background you need to oversee all facets of your business well, but determine what tasks you should outsource or hire employees.
7. Remember that nothing happens until a sale is made – How many good products go nowhere because they do not reach the shelves? Sales drive your business. You will need a good marketing plan to sell your product or service.
8. You have to see a customer to know one. N o matter how busy you are, spend at least 25% of your time with customers. You cannot make the proper business decision without understanding their viewpoint.
9. Solve your customers’ problems. The best way to satisfy your customers is not by selling them products but by giving solutions to their problems. There is a big difference.
10. Quality takes minutes to lose but years to regain. Quality is not a destination, it is a never ending journey. After you have strayed from quality’s path, your journey maybe sidetracked forever.
11. Put profitability first, rewards seconds. In small businesses, profitability must come first. Find out how to measure your cash flow and understand key financial ratios.
12. Hire supporters. If you intend to create a growing business, your number one duty is to assemble a great team of employees.
13. Do not do it alone. Find such help from small business peers, a mentor, even trade associations. They can help take some of the trial and error of beginning your business.
14. Vendors are partners too! Treat your vendors like customers and watch your partnership grow.
15. Make use of benefits. Understand how to provide insurance and other benefits for your employees and cut your tax bill at the same time.
16. Ignore regulatory issues at your peril. Federal, state, and local governments require licenses, registrations, and permits. Obey them or face losing your business.
17. Know the tax laws. Invest in understanding tax issues that affect your small business.
18. It’s the people! Whatever happens to a small business happens at the hands of the people who work for it. The evolution of the business is a result of their efforts.
19. Fast, good, cheap. Pick any two. Serious trouble awaits those who attempt to be all three in the market place. Stick with what you do best.
20. Develop a passion for learning. As your business grows, you need to change and grow along with it. One common denominator can be found in all successful business owners and that is a passion for learning.
About the author:
For more great business, marketing and mind power ideas to develope your business visit the Higher-Profits Blog at www.higher-profits.com
Another good place to check Small Business Information - please Internet Employ
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