Profit Potential Plan
First Name
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Last Name
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Email
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Phone
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Organization
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Unique Selling Proposition (USP)
1.1 What benefit(s) do you offer to your target market that separates you from all of your competitors?
1.2 Are those benefits based on the “hot buttons” of your prospects – the problem they have and don’t want and the result they want but don’t have?
1.3 If you could create a Unique Selling Proposition that addresses both the problems of your clients and the results you provide, by what percent would that impact your business?
1.4 If I were to walk through your business and ask your employees what your Unique Selling Proposition or USP is, to what degree would I get the same answer?
1.5 If we could articulate your unique benefit in a single sentence and have you and your staff use it when speaking with prospects, by what percent would that impact your business?
Lead Generation
2.1 Tell me about your lead generation process?
2.2 Do you use “direct response” marketing?
2.3 Do you follow the Conversion Equation to format your marketing and advertising messages?
2.4 Do you have a highly compelling offer that your ideal client cannot say no to (Example: We guarantee to find any small business owner $10k in 45 minutes without spending a cent on marketing or advertising.)
2.5 If you implemented a direct response marketing campaign, both online and offline, that followed the Conversion Equation and offered a compelling offer your ideal client could not resist, what impact would that have on your growth?
Alliances & Joint Ventures
3.1 How many alliances or joint ventures do you currently have with other businesses or services?
3.2 What products or services do people normally buy before, during and after they do business with you?
3.3 If you could form an alliance with one or more of the businesses that provide the products or services in question 2, what impact would their referrals have on your sales revenue?
3.4 Would it be possible to add one joint venture partner per month to enhance your lead generation?
3.5 What would be the financial impact if you became a joint venture partner for a synergistic product/service and made a commission for each sale that you referred to them?
Drip Campaign
4.1 Do you currently follow up with your prospects as they move along the buyer’s decision-making process?
4.2 Does any of your marketing highlight the benefits of ownership, overcome the objections to ownership and address the important vendor selection criteria
4.3 If we could build marketing and sales material for each aspect of the buyer's decision-making process, by what percent do you think that would impact your growth?
4.4 Drip campaigns are designed to dramatically increase your conversion rates. They require a highly compelling “incentive offer” such as discounts, product / service bundles, free services, etc. Do you currently have any compelling incentive offers for your product / service?
4.5 If we could create highly compelling incentive offers targeting specific product/services for your business, what would be the financial impact?
Downsell
5.1 Do you have down-sell strategies and procedures in place?
5.2 What other product(s) or service(s) could you offer at a lower cost if the customer doesn't buy your primary product or service? (E.g. smaller quantity / lower quality / stripped down version / special purchase offer.)
5.3 Is it possible to offer a payment plan? (Pay over 90 days or third-party financing. With third-party financing, you get all the money up front and they pay the lender over 1 to 3 years with interest.)
5.4 Are you aware of any ways we could maximize your downsell processes?
5.5 If we could create a series of downsell opportunities for your business, what impact do you expect we could see in this area?
Additional Products & Services
6.1 What additional products and/or services does your ideal client want / need / find valuable?
6.2 Do you have a systematic process for selling customers additional goods or services?
6.3 To what extent have you worked on increasing the revenue from each customer?
6.4 Are you aware of any opportunities where you could add additional products and/or services?
6.5 If you had a systematic process for selling additional goods and services, what impact would this have on your business?
Increase Prices
7.1 Tell me about your pricing strategy.
7.2 Do you provide any value-add services so that the customer perceives your product/service to be more valuable?
7.3 Is there anything you could provide (or communicate) that would raise the perceived value of your product or service?
7.4 If you could create a perception of higher value and communicate it to your customers in such a way that they understand and accept that value, by what percentage could you raise your prices?
Upsell & Cross-sell
8.1 Do you have up-sell or cross-sell strategies and procedures in place?
8.2 What other products or services could you offer when a customer shows the intention to buy your primary product or service?
8.3 Do you currently package products or services (or options) that are complementary to each other as a way to increase your average purchase?
8.4 Are you aware of any other ways we could maximize your upsell or cross-sell processes?
8.5 What would be the impact if we initiated several up-sell and cross-sell strategies to maximize the monetary value that each customer spends with you?
Bundles and Packages
9.1 What product(s) and service(s) do you offer?
9.2 What complementary product(s) and service(s) could you offer (either yourself or through affiliates) that your customers may need when buying what you sell?
9.3 Which of these could you bundle together to create a higher value package for your prospects?
9.4 What sales price could you assign to this new package?
9.5 How many of these new packages would you estimate you could sell per week or month?
9.6 How would that impact your overall business?
Cost Reduction
10.1 Which of these will you commit to? (Please specify any other option not listed below.)
Relocate your place of business to somewhere less expensive+A65
Audit your vendors / suppliers and obtain new quotes
Audit your insurance policies and obtain new quotes
Audit your internet and phone services (cell and landline). Mention a competitor and most companies will quickly find you a discount.
Write-offs (tax savings)
Negotiate blanket purchase order discounts.
Audit your in-house services and see what can be outsourced (accounting, IT, bookkeeping, etc.)
Look for reductions in waste (utilities, etc. Ask for employee suggestions)
Cancel dues and subscriptions
Replace outside services with in-house resources (janitorial, landscape, etc.)
OR, outsource services to less expensive vendors (janitorial, landscape, IT, digital marketing, accounting & bookkeeping, etc.)
Solicit employee input for efficiency improvements
Organize stockroom and storage areas (excess inventory).
Restructure / consolidate debt. Negotiate lower rates with credit card companies and/or banks.
Reduce salaries of employees AND/OR benefits AND/OR reduce overtime AND/OR reduce your hours of operation AND/OR institute a hiring freeze AND/OR bring in temps to do non-critical work.
Focus on productivity of employees. Inspecting their work will normally raise productivity by 20%. Monitor their logged hours (breaks, lunches, holidays, sick days, etc.)
10.1 Continued (Please specify any other option not listed above.)
10.2 By what percent could you reduce your COGS?
10.3 By what percent could you reduce your Overhead?
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