Retirement Ready Income Programs

How To Get More People To Respect Your Value

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Submitted by Jason Edwards | RSS Feed | Add Comment | Bookmark Me!

Doesn't it suck when people don't respect the price you charge? When they always want a special deal? Well guess what? It's probably YOUR fault! When people ring around for quotes on price, and it happens a lot with Yellow Pages directory ads, they'll ring 2-3 businesses usually. That's what everyone has been 'trained to do as consumers, and it's the ads that force them to. How? All the ads look the same!

Just think about when you need a service, say your lawns mowed. So you open the yellow pages and look up lawn-mowing, and there are dozens of ads with people wanting to mow your lawn. So who do you choose?Whoever is cheapest, right? And why? Because all the ads look the same, so there isn't anything that makes one business different from the next. And if that's the case, the only difference comes down to the price!

Makes sense really, because if all the ads look the same then PRICE can be the only difference between them, right? So if the ads for each industry are virtually all saying the same thing, can you understand that you're educating your market to base your value on price? Then what you need to do is create a unique selling proposition that will make you STAND OUT from your competition.

Now let me explain what a unique selling proposition is and how you can get one for your business. Every day we are subjected to about 4,000 to 5,000 advertising messages, so we all need to do work a bit harder to stand out from the crowd, and that's what the USP will do for you. It's that CORE reason that someone should buy from you. And here's a great tool for finding your USP in half an hour.

Grab a piece of paper, and draw a straight line down the middle. On the top of the left-hand column I want you to write "You know how...." And here is where you write down all the things that your competitors do badly. Now we are just building a list, so don't be critical of what you're writing, or how you write it.

At the top of the right-hand column write "Well what we do is..." And here you write down all the things that you do that are great, basically laying out ALL your cards. Once you've done this, you should have a list of what your competitors do, and all the things you offer which are different from them, and this is what you base your Unique Selling Proposition around.

And if you haven't come up with anything from this exercise, then you need to create something to be different! Once you have a USP, then turn it into a statement everywhere your advertising goes, as a reason why someone should do business with you over anyone else!

Another great way to make sure your customer is happy to pay extra for your business is what's called 'dollars for cents' copy. We all love a bargain, right? What this means is to throw in so much value it's not funny. Say for example you have a $99 product for sale, and you throw in $300 worth of free bonuses, you'll make sure the customer comes out way in front in terms of value. So they are paying you just 'cents', but getting 'dollars' back in value.

The key with this method is to make sure the bonuses you throw in are low cost to you, but high perceived value to your customer. You could offer a free report, cd or dvd, any type of information products like this are quite inexpensive to produce, yet the information contained within could be very valuable to your customers. This makes the buying decision so much easier when your customer is getting much more value than what they are paying for. This is one technique you should always strive to use, and it can literally set your sales soaring!


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Risk Management: Income, 401k, and IRA Programs

Take a free tour of a professional investment managers' private SEP IRA program during ten years surrounding the financial crisis:

CLICK HERE

In developing the investment plan, personal financial goals, objectives, time frames, and future income requirements should all be considered. A first step would be to assure that small portfolios (under $50,000) are at least 50% income focused.

At the $100,000 level, between 30% and 40% income focused is fine, but above age 50, the income focus allocation needs to be no less than 40%... and it could increase in 10% increments every five years.

The "Income Bucket" of the Asset Allocation is itself a portfolio risk minimization tool, and when combined with an "Equity Bucket" that includes only Investment Grade Value Stocks, it becomes a very powerful risk regulator over the life of the portfolio.

Other Risk Minimizers include: "Working Capital Model" based Asset Allocation, fundamental quality based selection criteria, diversification and income production rules, and profit taking guidelines for all securities,

Dealing with changes in the Investment Environment productively involves a market/interest rate/economic cycle appreciation, as has evolved in the Market Cycle Investment Management (MCIM) methodology. Investors must formulate realistic expectations about investment securities--- by class and by type. This will help them deal more effectively with short term events, disruptions and dislocations.

Over the past twenty years, the market has transitioned into a "passive", more products than ever before, environment on the equity side...  while income purpose investing has actually become much easier in the right vehicles. MCIM relies on income closed end funds to power our programs.

To illustrate just how powerful the combination of highest quality equities plus long term closed end funds has been during this time... we have provided an audio PowerPoint that illustrates the development of a Self Directed IRA portfolio from 2004 through 2014.

Throughout the years surrounding the "Financial Crisis", Annual income nearly tripled from $8,400 to $23,400 and Working Capital grew 80% $198,000 to $356,000.

Total income is 6.5% of capital and more than covers the RMD.

https://www.dropbox.com/s/b4i8b5nnq3hafaq/2015-02-24%2011.30%20Income%20Investing_%20The%206_%20Solution.wmv?dl=0

Managing income purpose securities requires price volatility understanding and disciplined income reinvestment protocals. "Total realized return" (emphasis on the realized) and compound earnings growth are the key elements. All forms of income secuities are liquid when dealt with in Closed End Funds. 


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Please read this disclaimer:
Steve Selengut is registered as an investment advisor representative. His assessments and opinions are purely his own and do not represent the views of any other entity. None of his commentary is or should be considered either investment advice or a solicitation of business. Anyone seeking individualized investment advice should contact a qualified investment adviser. None of the information presented in this article is intended to be or should be construed as an endorsement of any entity or organization. The reader should not assume that any strategies, or investments mentioned are any more than illustrations --- they are never recommendations, and others will most certainly disagree with the thoughts presented in the article.