Edwin Dearborn

3 years ago · 2 min. reading time · visibility 0 ·

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Small Marketing Is A BIG Aberration

I favor the word aberration over words like crazy, insane or stupid. These words, and a few more like them, are so overused and abused; they no longer have any impact when written or spoken in conversation.

Collins Dictionary defines aberration as, “a departure from what is right, true, or correct”

The MacMillan Dictionary defines it as, “when someone behaves in a very strange or careless way.”

When we act careless with our business growth, or depart from procedures which would prove to be correct and right to increase profits, we could refer to these as “aberrations.”

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Most Common Aberration

The most common aberration I witness among business professionals is thinking way too small. Small levels of sales and profits only means that not enough efforts were initiated to bring in enough business to sell to in the first place.

Just today, I spoke with a financial professional in Dallas, Texas -  a big city brimming with millionaires and hundreds of thousands of upper middle class couples. Yet, despite being surrounded by enormous wealth, she had yet to close one client in an entire month.

So I asked her, “What did you do the month before with marketing?” Sheepishly, she said, “nothing.”

When I quoted her my lowest price for a marketing program she told me that it was too expensive. Upon further questioning, she had no other solution to consistently grow her sales.

While this is an extreme example, I have seen and heard similar stories, hundreds and hundreds of times, while consulting and public speaking to professionals across America and Europe.

Small sales is always preceded by small marketing

You know what one common denominator is with professionals who are struggling with small sales? They blame their lack of budget. Budgets are inanimate concepts which apparently demonize the minds of these individuals.

“It’s not in the budget”, even though they actually don’t have any budget written out.

“That’s way over budget”, again pointing to something which they do not possess.

The are thinking like a small town accountant, versus a 10X entrepreneur. They cannot conceive of how to leverage their existing resources and finances to gain even more in the future.

Their small think perpetuates a state of quiet desperation and consistent financial stress.

Solution?

Delete the word “budget” from your vocabulary. It’s not only a word which makes one think small, it doesn't even sound sexy when you say it. It sounds like a word that kills big dreams.

Replace That Aberration of a Word With “10X Growth Fund”

10X Growth Fund = reinvesting a minimum of 10% of your earnings back into your marketing and promotional efforts. This could be for paid ads, stationary, networking events, postcards, video production, outbound call services, email marketing and CRMs, etc.

Imagine this scenario for that struggling agent in Dallas.

Year One - Through hard seat and late nights, she earns $60,000 in commission. As she is making that, we reinvests $6,000 of that into only advertising and generates 500 new leads within the year.

Year Two - From those 500 leads, she closes 20 new clients, earning $7,500 in commission each. This is $150,000 earned. Now, she takes $15,000 and is able to generate 1,000 new leads.

Year Three - She earns $250,000 and puts not $25,000 into her 10X Growth Fund, but $30,000 to really accelerate her growth. This now generates 2,000 leads. Four times the amount as she was generating only two years ago.

This is exponential growth.

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Comments

Edwin Dearborn

3 years ago #4

You are spot on. Focus is so vital.

Jerry Fletcher

3 years ago #3

Edwin, Reinvesting in the business is always a good idea. The other thing I've found that makes a real difference is focus. Too often the entrepreneur expects results without maintaining focus on the required activities. The expectation is, do it once and the miracle will happen. Tain't true... no matter how much you spend ever.

Edwin Dearborn

3 years ago #2

Thanks for your positive feedback.

Claire L Cardwell

3 years ago #1

It's amazing how marketing gets put on the back burner Edwin Dearborn - a consistent approach will lead to great results. Love the 10X fund idea!

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