Outline:
The E-Myth Revisited
It is not about the product but how you sell it that determines success=the business itself
I.
Work on the business not in it.
A.
The model will provide consistent value to your customers, suppliers, lenders, beyond
expectation.
B.
Model operated by people w/ lowest level of skill
C.
Model will stand out as a place of impeccable order
D.
All work in model will be documented in an operation manual
E.
The model will provide a uniformly predictable service to customers
F.
The model will utilize a uniform color, dress, and facilities code.
II.
To go to work on your business you must ask the following questions:
A.
How can I get my business to work, but without me?
B.
How can I get my people to work, but without my constant interference?
C.
How can I systematize my business in such a way that it could be replicated 5000x and
the 5000th unit would run as smoothly as the first?
D.
How can I own it and still be free of it?
E.
How can I spend my time doing work I love rather than the work I have to do?
-The problem is not your business it is you.
III.
Business Development
A.
Innovation: “Creativity thinks up new things. Innovation does new things.”
-It is the result of scientifically quantifying client profile of perceived needs and
unconscious expectations.
B.
Quantify Everything
C.
Orchestration: Eliminate discretion at operating level of the business.
-“Discretion is the enemy of order, standardization and quality.”
-For a business to be predictable your people must be.
-“The Business development process is dynamic and ongoing.”
IV.
Primary Aim
“The difference between a warrior and an ordinary man is that a warrior sees everything as a
challenge, while an ordinary man sees everything as a either a blessing or a curse.”—C.
Casteneda
V.
We must actively create our lives. Ask:
-What do I wish my life to look like?
-How do I wish it to be day to day?
-How would I like people to think of me?
-What would I like to be doing 2 years, 10, 20, at the end?
-What specifically would I like to learn during my life—spiritually,
physically, financially, technically, intellectually, relationally?
Strategic Objective:
-A list of simple and clearly stated standards regarding the business strategy and plan designed
for implementation.
-It is a template for the business—What will serve my Primary Aim?
A.
Standard 1:
Money
Gross Rev.: How big will the company be when done?
B.
Standard 2:
An opportunity worth pursuing
-What kind of business am I in?
=the product which is what the customer feels as he walks out.
C.
-Who is my customer?
Standard 3:
Not a specific number of standards in your strategic objective only
specific questions to be asked.
-When is prototype completed (2 yrs, 3, 5, 10?)
-Where are you going to be in business (locally, regionally, nationally,
etc?)
-How are you in business (retail, wholesale, not for profit, combo)?
-What standards are you going to insist upon regarding reporting; cleanliness, clothing,
management, hiring, firing, training, etc.?
VI.
Organizational Strategy
*Prototype your position
-Take most productive innovations and write them in an operations manual.
-Script: Incoming calls
Outgoing calls
Meeting customer at door
Exact response to inquiries, complaints, concerns
-Only when the Operations manual is complete do we run an add for a position and then
GET A BEGINER and teach him how you want it done.
VII.
Management Strategy
A marketing tool
“An effective prototype is a business that finds and keeps customers-profitably-better than any
other.”
-What does it mean to find a customer/what does it mean to keep?
VIII.
People Strategy
A.
The Game:
1.
Customer is not always right but it is our job to make him feel that way.
2.
Everyone who works here is expected to work toward being the best he can
possibly be at the task he is accountable for . . . if not he should fake it until he
is . . . if he can’t then he should leave.
3.
A place where everything we know how to do is tested by what we don’t know
how to do and that the conflict between the two is what creates growth,
creates meaning.
=a structure through which they can test themselves and be tested.
The game is a measure of you.
B.
Hiring Process Components
1.
A scripted presentation communicating the Boss’ idea in a group meeting to all
applicants at the same time describing the idea of business, the history of the
business as well as it’s success at implementing the business idea and the
attributes required of a successful candidate for the position in question.
2.
Meeting with each individual applicant to discuss his reactions to and feelings
about the idea, as well as his background and experience. Also, each app is
asked why they are superbly appropriate for the role in implementing the Boss’
idea.
3.
Notification of the successful candidate by scripted telephone presentation.
4.
Notification of unsuccessful applicants thanking each for his interest. A
standard letter to follow signed by the interviewer.
5.
First Day training to include the following activities for both the Boss and the
new employee:
-Review Boss’ idea
-Summarizing the system through which the entire business brings the idea to
reality
-Taking the new employee on a tour of the facilities, highlighting people at
work and systems at work to demonstrate the interdependence of the systems
on people and people on systems.
-Answering clearly and fully all the employee’s questions
-Issuing the employee his uniform and operations manual
-Reviewing the Operations Manual including the Strategic Objective,
Organizational Strategy, and the Position Contract of the employee’s position.
-Completing the employment papers
IX.
Marketing Strategy
In T.V. the sale is made of lost within the first 3-4 secs
In print ads 75% of buying decisions are made at the headline alone
In a sales presentation the sale is made or lost in the first three minutes
A.
Two pillars of a successful Marketing Strategy
1)
Demographics: Who is your customer?
Ask them! Ask each and everyone to fill out a questionnaire.
2)
Psychographics: Why your customer buys?
Ask on the questionnaire: Preferences on color, shapes, words.
What brands of perfume they buy, cars, jewelry, food. You then
match those brands to the ads and commercials that sell them, and then pay attention
to how those companies sell to your demographic.
B.
C.
X.
-Find a perceived need and fill it because if your customer doesn’t perceive he needs
something he doesn’t, even if he actually does.
-These perceptions are at the heart of your customer’s decision-making process.
-Your business is far more fragile than a big business. So if anything, you must take
marketing more seriously than a big business does.
Determine your Trading Zone (Geographic perimeter within which your current
customers mainly live. Take addresses from your questionnaire, identify them on a
map, draw a line around them, and that’s your first-pass Trading Zone.
-Then buy a Demographic List
Process
Lead Generation, Lead Conversion, Client Fulfillment or
Marketing, Sales, and Operations
The customer you’ve got it a lot less expensive to sell to than the customer you don’t
have yet. That is why the business process is so important.
We must be able to deliver the promise no one else in our industry dares to make!
Systems Strategy
-The innovation, quantification, orchestration, and integration of these three kinds of systems in
your business is what your Business Development Program is all about.
A.
Hard Systems-innanimate/unliving things such as computer or color of paint.
B.
Soft Systems-either animate-living-or ideas such as you or a script
-If 80% of sales are produced by 20% of our people then that 20% are using a system
and the 80% are not.
-A selling system is a soft system which is a fully orchestrated interaction between you
and your customer that follows six primary steps:
1)
Identification of the specific Benchmarks-or consumer decision pointsin your selling process.
2)
The literal scripting of the words that will get you to each one
successfully.
3)
The creation of the various materials to be used with each script.
4)
The memorization of each Benchmark’s script.
5)
The delivery of each script by your salesperson in identical fashion.
6)
Leaving your people to communicate more effectively, by articulating,
watching, listening, hearing, acknowledging, understanding, and
engaging each and every prospect as fully as he needs to be.
C.
Information Systems-those that provide us with info on the other two. Inventory
control, cash flow forecasting, summary reports, etc.
D.
PowerPoint Selling Strategy
1.
General
a. Structure=all of the predetermined elements of the process, and includes
exactly what you say, the materials you use when you say it, and what you
wear.
b. Substance is what you—the salesperson—bring to the Process, and
includes how you say it, how you use it when you say it, and how you are
when you say it.
2.
The Power Point Selling Process
-a series of scripts defining the entire interaction between the salesperson and
the customer. These scripts (or benchmarks) are:
a.
The Appointment Presentation
The sole purpose of an appointment presentation is to make an
appointment. It is designed to move the prospect from where he is to
the second benchmark in the process. A series of words delivered on
the phone or in person, that engage the prospect’s unconscious by
speaking primarily bout the product you have to sell rather than the
commodity.
b.
The Needs Analysis Presentation
1) the first thing you do in a needs analysis is repeat what you said in
the appointment presentation to reestablish the emotional
commitment.
2) Then tell the prospect how you would like to proceed to fulfill
your promise to him.
3) Then you establish your credibility in the prospect’s mind by
communicating two things (1 the company’s expertise in such
matters and 2) your personal willingness to do whatever is
necessary to utilize that expertise on his behalf)
4) Describe the system and why it works so well.
5) Complete Analysis questionnaire
6) Provide prospective customer with the information he promised
and show him how relevant it is to his situation.
7) Make appointment for the prospective customer to return with
report with valuable solutions for him/her at no cost! And then
take time to help prospective customer understand those
solutions whether he decides to implement them or not!
c.
The Solutions Presentation-Selling is opening (not closing)
1)
Designed simply to provide the rational armament for the
emotional commitment.
-“Of the options we’ve suggested here, which do you feel
would best serve you right now?”
-By doing it the same way every single time, you will not have
a selling person but a selling system. A Soft System. A
completely predictable technology for producing formerly
unpredictable results. And you will be able to tell just how
predictable it is through the use of an information System.
d.
Information Systems
Should provide you with the following information:
Information
Benchmark
How many calls were made/received?
1
How many prospects were reached?
2
How many appointments were scheduled?
3
How many appointments were confirmed?
4
How many appointments were held?
5
How many needs analysis presentations were
Scheduled?
6
How many need analysis were confirmed?
7
How many needs analysis were completed?
8
How many solutions presentations were scheduled? 9
How many solutions presentations were confirmed?10
How many completed?
11
How many were sold?
12
What we the average dollar value?
13
The information system will track the activity of your selling system
from Benchmark to Benchmark.