Focus Business Academy

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Welcome to Focus Business Academy Workshop 2
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Workshop Topics

• Strategic Alliances
• Life Time Value of a Customer

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Agenda

• 8.00 - 8.15am Feedback
• 8.15 - 8.30am The E-Myth Discussion
• 8.30 - 8.55am Strategic Alliances
• 8.55 - 9.20am Life Time Value of a
  Customer
• 9.20 - 9.50am Customer Service
• 9.50 - 10.00am Questions

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Your Feedback

• What progress have you made over .
  the past month?
• What worked? What didnt?

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Key Ideas from The E-Myth

• How do you feel after reading the first half of
  the book?
• Do you now think differently about your business?
• What is the entrepreneurial myth?
• Difference between
• The Entrepreneur
• The Technician
• The Manager
• Why did McDonalds succeed?
• Explain working ON not IN

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Strategic Alliances
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Strategic Alliances

• The key is to
• THINK WIN/WIN

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Strategic Alliances

• What are the characteristics of your ideal
  client?
• For example
• Age
• Sex
• Marital Status
• Income
• Professional or Industry
• Ability to pay for your goods or services
• Nice people to deal with
• People who are quality conscious not price
  shoppers

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Strategic Alliances

• List every type of company or industry that has
  clients within your target market.
• For each Industry that you have listed as having
  clients within your target market, write down a
  specific company that you can think of.

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5 Steps to setting up aStrategic Alliance

• Step 1 - Get the Owners Details
• Step 2 - Do some Research on the Company
• Step 3 - Write a Letter
• Step 4 - Call within 48 hours
• Step 5 - Arrange a Meeting

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How many squares are there?
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• Think
• Outside
• the
• Square

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Life Time Value of a Customer

• You need to think of the customer as someone
  who you can service for life rather, than someone
  you service once or twice.
• If more companies thought of what one customer
  could be worth to them over a life time, then the
  service offered would be substantially different.

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Life Time Value of a Customer

• (A) (B)
  (C)
• Average Sale x Frequency of Contact x Life (D)
• (E)
• Number of Referrals x D (F)
• Value F x C

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Life Time Value of Your Customers

• What is the average amount clients spend each
  time they use your services?
• What is the average number of times a client uses
  your services each year?
• On average how long do clients remain loyal to
  your company?
• On average how many referrals does each client
  send to you per year?

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Customer Service

• Customer Service is the Sum of all the Contacts
  a Customer has with a Business
• (Carl Sewell Golden Rules of Customer Care)
• You need to WOW your customers
• What do you currently do to WOW your customers?

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Customer Service

• Examples FAI Home Security
• Slippers and Drop Sheets
• Clean out gutters and replace tiles
• Bring in the shopping
• Clean and neat uniforms

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Customer Service

• Frank Hardings Exclusive Menswear
• Introduce customers in other retailers, in their
  price range
• Motto- Customer comes first, second and third
• One sales assistant drove 8 hours to return a
  wallet to a customer

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Customer Service

• South West Airlines
• Motto - Customers come second and still get
  Great Service
• If you look after your people, your people will
  instinctively look after your customers

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Customer Service

• Take 5 minutes to think about how some of
  these ideas may apply to your business.
• Think Outside the Square.

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Thank Youfor your time today.

• Remember,
• Implementation is The Key