The Ultimate Key to Making Money in Business
It was a frightening time. It could have been ugly and financially disastrous. It was many years ago, but I remember it like it was yesterday. There was only one thing that saved me: The ultimate key to making big money in any business.
I had just opened my first real business. Without any experience, I started a real estate office. I had a wife and a young three-year-old child who depended on me. I was up to my eyeballs in a bank overdraft and looking down the barrel of financial oblivion. It was the end of the first month and we hadn’t made a single sale.
I was penniless and my wardrobe looked like an image consultant’s nightmare. I had no suit, one tie and two pairs of business trousers; one was worth $19 and the other was worth $17. The reason I remember how much they cost was because it hurt so much to buy them. That is how little money I had.
How the Secret of What I Call the “Nexus Point” Saved Me
At first, I could not believe the results. After just three months, I was first place as the top sales person in the area. A month later, we were the top selling agency in the area. Eventually, every member of my sales force was in the top one per cent of producers in the country.
My business expanded to include national projects.
In the last 18 months of that business, I was working an average of 10 hours a week for eight months of the year. The rest of the time, I was skiing in Colorado, driving my Porsche or vacationing in some other exotic location.
Some well-known speakers asked me to talk about how I had achieved these results. This led to a whole new career training tens of thousands of people around the world who want to make more income and have a better life in the process. When they ask, “How can I generate more money in a business?” I tell them about the nexus point.
Engaging in the Nexus Point
The only time a business makes money is when engaged in the nexus point. The nexus point is when your business – you or your agent, website, salesperson, social media or advertising meets a client or customer. Although business activities like accounting, paperwork and team meetings are essential, none of these endeavours produces a nexus point opportunity – the opportunity to make money.
There are only two areas that create a nexus point: sales and marketing. Marketing gets people to your door, while sales gets them through it.
Here is the great irony. I have trained thousands of people over three continents and have worked with countless businesses. Yet less than 10 per cent have focused on the nexus point prior to seeing me. Most focused on work that did not create a direct profitable outcome.
I mentioned that marketing is about getting people to your door. Marketing, of course, is much more than getting them to the door. It’s also about keeping them. It’s about knowing how to apply direct response marketing to your business to generate immediate cash profits.
Retrain Your Brain: Start, Stop, More and Less
Are you caught up in the grind? Are you running around in circles and not achieving what you really want? Are you having difficulty in starting something?
Here is a great formula that can generate big results and get you going. It’s called “Start – Stop – More – Less.”
- Start – Start doing something. Make a commitment to doing at least one thing every day that brings in income.
- Stop – Stop doing the things that don’t work. One definition of insanity is doing the same things over and over while expecting a different result.
- More – Do more of what works. You wouldn’t believe the number of clients I have who have been making a lot with a particular marketing or business strategy, but then they simply forgot to keep doing it. Do more of what works!
- Less – Do less of the unimportant things.
A Huge Final Tip for Making Money in Business
Here is a huge tip for you: Start your day with at least one thing that produces income. Don’t clear your inbox first or catch up on things. Do the most important thing in your day first. Re-train your brain. Whatever you do first should be what you believe to be the most important thing on your list.