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I don’t watch TV much, but I recently saw a show called “The Turnaround King” and it grabbed my attention. The show focuses on assisting businesses to help them turnaround and come out of a slump and thrive.

In one segment of the episode, there was a fitness center that was losing revenue, and was going to have to close unless something changed, and fast! So the expert consultant formed a strategy and for the fitness center to implement immediately.

Here’s what they implemented. To attract more people to come into the center for a tour, they created a direct mail campaign using post cards that were mailed to every person living within a 20-mile radius of the fitness center.

They started with adding a 7-day free trial membership for anyone who could make a basket in their gym within 2 shots. They then raised their price points on memberships with a longer-term requirement. All their staff members became sales people. And finally, they began to sell t-shirts and other items to all the new members as part of the sign-up process.

What was the end result? The fitness center increased its sales by over thirty percent within 2 months! What an accomplishment.

Let’s breakdown the lessons that can be learned from that example.

Lesson #1 – The Secret To Increasing Sales (Traffic + Conversion)

The secret formula to increasing sales for any business is this:

Conversion + Traffic = Sales

In other words, the goal is to get more traffic to come into your store or to visit your web site. For example, in the Turnaround King, they did this by mailing out post cards to everyone living within a 20-mile radius of the fitness center

Some other ways you can increase traffic for your business is by running pay per click advertisements, networking in your community, participating in forums and blogs, taking advantage of the giant marketplaces like Amazon and eBay, etc.

In fact, there are dozens, if not hundreds of different ways to increase the traffic that comes to your site and/or store. We cover them in more detail in our BizMarketing product (and more comprehensive BizFast Product).

In addition to traffic, you also need to get more of those visitors to buy from you. The Turnaround King did this by adding the trial membership, raising the membership prices, and adding more sales people.

There are several other ways you can increase your conversions too. You can improve your sales pitch so that it resonates better with your ideal customer and makes them want to buy from you. You can add bonuses or incentives to make your offer irresistible. You can also add a stronger money back guarantee.

But here is the critical point: If you improve both your traffic and conversion numbers, then you WILL have an increase in sales. It is a mathematical fact.

In fact, many businesses can do just one or the other and see a significant increase in sales. For example, if you already have a high closing/conversion ratio, then simply getting more visitors to your site and/or store will increase your sales dramatically.

Or, if you already have tons of visitors, but aren’t making a lot of sales, you can simply increase the amount of closes/conversions that you get so that you make more money from the visitors you already have.

But if you really want to super-charge your sales, increase both the traffic and conversion numbers. And you WILL see an increase in sales – guaranteed. Again, it’s a mathematical certainty.

Lesson #2 – Increase the Value of Each Customer

The other key ingredient to increasing your overall company revenue is to increase the lifetime value of each customer. In other words, you want to generate as much revenue as possible from each and every customer.

In the Turnaround King example, they did this by adding long-term contracts, so that they would keep each customer longer. They also offered t-shirts and other items that were sold to new members when they joined the club, and that existing members could also purchase.

Whether you have a physical store or an online business, there are numerous ways that you can increase the lifetime value of each customer.

Here are just a few examples:

- Offer related items to customers when they are making their initial purchase (upsells and downsells)

- Put a related offer at the bottom of each customer receipt

- Send promotions to your existing customers, such as discount coupons or other offers for related or additional products that you offer

You can also increase the value of each customer by either increasing your prices, or reducing your costs for selling the item to that customer.

We cover dozens of ways that you can increase the value of each customer and grow your sales in our Business Profit Explosion Report that comes as a bonus to our BizMarketing and BizFast programs.

Lesson #3 – Always Look For Opportunities To Improve Your Processes

You should always be looking for ways to improve your company processes to make it easier for customers to buy from you, and to help increase your sales.

In the Turnaround King example, they trained each staff member on how to handle at least certain parts of the new memberships. Before, there were only a few people who could handle memberships, and prospective members were forced to wait a long time for a membership advisor, and many left because they didn’t want to wait.

There is always something you can do to make each employee capable of moving the sale along, even if it isn’t his or her job.

Lesson #4 – Combine These Strategies Together For Maximum Results

Take a moment to analyze your business and brainstorm on several ways that you can increase the amount of traffic that you receive. What advertising channels can you add to get more exposure?

Then, analyze your current sales process and identify several ways that you can make your closes/conversions higher so that you get more sales from those people who consider your offerings. Can you add some bonuses to make your offer more compelling? What about a better guarantee?

Next, analyze some ways that you can increase the value of each customer that you have. What related items can you offer them? How can you increase the amount of profit that you generate from each encounter?

If you take the time to go through this process and actually implement those changes, you will be amazed at the improvements you will see in your business. And any time you feel unhappy with your sales, re-visit this process and start all over again.

To learn more about business growth and marketing, download my free 47 page “Business Thrival Blueprint“. BusinessThrival.com is a site dedicated to helping business owners achieve a thriving business and life.

You may recall a couple of weeks ago so on June 20, 2011 in the issue called “Finding My Tooth Brush”, I wrote how my house was struck by lightening and totally ruined.

The good news is that my home is still standing but everything else we own was destroyed by soot, fire damage, water damage, or smoke damage.

Just a couple of days ago with my hard hat on, I enter my once award-winning home to look for any items I could still save, or for those that I may want to go out and buy immediately. I browsed through hundreds of books in my library, and there was one of my favorite books peeking back at me – wet and a little charred.

The book is “The Creative Entrepreneur”. It is one of my most cherished books to use for goal setting. The book sets forth a roadmap for you to follow where you incorporate images and words that you write or paste into a journal. This helps you to stay on course to achieve your business goals.

As I was flipping through this book again, it made me think of how I used it before to help plan out various projects – including this newsletter – and how important it is that each of us take the time to chart out goals for our business and personal lives.

How can we expect to accomplish a goal if we don’t think through it clearly, identify the proper action it will take, and then start taking steps in the right direction?

So in this article, I will share with you my very own five-step process that I personally use for achieving any goal, while providing you with an example of how I taught this process to my daughter Victoria while on vacation last year.

Unfortunately, we didn’t get to take our normal vacation time this year because of the house fire – but I’m so grateful that we’re alive and will have more family vacations in the coming years when the dust settles, so to speak.

This timeless 5-step process can be taught to your children or grandchildren too if you have them.

Step 1 – Make Sure Your Goal Is “SMART”

The first thing you should do is figure out what you want to accomplish, at least at a high level. Start by just writing down what your goals is, such as “I want a new car”. Don’t worry about it being perfect. You just want to capture the essence of the goal.

Once you’ve written down a rough draft of the goal, re-write your goal to make sure it is SMART, which stands for “Specific, Measurable, Attainable, Realistic, and Timely”.

For “Specific”, your goal needs to be more than just a broad statement like “new car”. A more specific goal for “new car” would be “a new Lexus ES 330″.

Once you have re-written your goal to be specific, it’s time to see if the goal is “Measurable”. In other words, will you know exactly when you have reached it? The example “new Lexus ES 330″ is very measurable, because you will know exactly when it has happened. Revise your goal until it is measurable.

You next evaluate the goal to see if it is “Attainable”, and revise it accordingly. Attainable just means whether you can ever really achieve it. If your goal was “fly using my bare hands”, then it wouldn’t meet the “attainable” test, because it is something that just isn’t possible.

Next, you need to confirm that your goal is “Realistic”. Realistic just means whether or not it is feasible for you to make it happen like you’ve stated, such as in a certain time frame. For example, if you had a goal to buy the Lexus ES 330 tomorrow when your bank account was empty, it would not pass the realistic test either. If your goal is not realistic, then re-write it until it is realistic.

The final element of the SMART test is to make sure your goal is “Timely”. In order to ever feel like you’re making progress, your goal needs to be short term in nature, such as one week, one month, or one quarter.

With my daughter Victoria, the goal we set was to win a new DVD player as a prize by the end of the Carnival at the 4th of July at the Grand Hotel where we were on vacation last year. That goal is certainly specific. It is also measurable, because we would know we reached it by redeeming enough tokens to “win” it.

At first, the goal didn’t seem like it was attainable or realistic, because it took 500 tokens to win the DVD player. After all, it was the grand prize out of hundreds of prizes.

But my daughter, husband, and I calculated that if each of us played the carnival games together (and not just my daughter), we could rack up 3 times as many tokens, and could still win enough before the day was up. So we refined it to be attainable, and also realistic.

And it was definitely timely, because we set the goal for just one day, before the carnival ended. So we refined our goal until it met the SMART test.

Step 2 – Figure Out The Series of Steps that Will Get You There

Once you know that your goal is SMART, you can then break it down into a series of steps that will allow you to reach that end result. For example, we figured out the exact steps we needed to take to win the DVD player from the carnival, down to how many games we needed to win in order to get the right number of tokens, and how fast we would then run to the prize counter.

And while my example is just for a simple goal, even the most complex goal can be broken down into a series of basic steps.

Step 3 – Envision What It Will Be Like To Achieve That Goal

In this step, you should envision what it will feel like to reach that goal. You can talk about it out loud, picture it in your head, and/or write it down on paper. This is important because once you can actually envision what it feels like to reach the goal, it makes it so much easier and fun to actually take the steps to get there.

In my example, my daughter and I talked about what we would do with the new DVD player, and how it would be so nice to play all her favorite movies on it and carry it everywhere.

Step 4 – Take Action One Step At A Time, But With Passion

Once you’ve broken down the goal down into a series of small steps, and have envisioned what it will be like to achieve it, you should start taking action. Start working on those steps that you wrote down, and follow them, step-by-step.

This is where so many people get hung up. They just do it at 50%, and fall off track, and just give up. If you’re going to set a goal, give it your 100%. And then during those times when you fall off track, just get back on track as fast as you can, and pursue the goal with renewed passion. But the key is to just keep taking action, in the right direction toward your goal.

In my example, my husband and daughter and I played over 50 carnival games that day to collect our 500 tokens. We played game after game after game. And we had so much fun doing it.

We created our plan, followed it, and accomplished it. We were so proud of ourselves, and I was so excited to see Victoria go redeem that grand prize from hundreds of other kids. And that leads to the last step, which is to “Celebrate” your accomplishment.

Step 5 – Celebrate

In this step, take a moment to celebrate what you just accomplished. Don’t be too quick to just mark it off the list and move on.

Pause for a moment and reflect on what you just did. Pat yourself on the back. If it is your child, pat them on the back or give them a high five. Tell them they are a winner, and that they can accomplish anything they set their mind to.

That’s what I did with my daughter. I recapped our entire day to her and said something like this: “Victoria, I’m so proud that we worked so hard to win that DVD player. We set our goal, and we figured out how to reach it, and we did it. See, I told you that you can do anything you set your mind to, and we just proved it, together.”

And even a year later, our daughter (now 5) still talks about how we won that DVD player at the carnival. The DVD player didn’t even work after we won it, but that didn’t stop her excitement about how we worked so hard to achieve the goal – and how we accomplished something we set our minds to.

So there you go – a complete process you can use for setting and achieving your own goals. Now it’s your turn. Have fun, and share your stories.

To learn more about business growth and business startup, download my free 47 page “Business Thrival Blueprint“. BusinessThrival.com is a site dedicated to helping business owners achieve a thriving business and life.