Discover the Secret to Avoiding the Income Roller Coaster

If you’re like the majority of small business owners, you rush out and do a lot of marketing; then you’re so busy working that you don’t have time to seek out new clients. Money is flowing in, and you become complacent. However, once your projects and clients are completed, guess what! Again, there is no business! And income decreases! You’re experiencing the income roller coaster, and there is only one way out: consistency. You must develop an ongoing marketing engine that operates whether you are busy or bored!

The first step is to create a marketing strategy. You’ll need to conduct market research to ascertain who your ideal client is, their needs, how you can meet those needs, where you can find them, how you will reach them, and the daily activities necessary to keep your pipeline full. Networking, speaking, seminars, teleclasses, and e-zines are just a few of these activities. All of these are forms of active marketing that require your time, unless you can delegate or automate some of the activities. You can also count on a steady stream of income if you have multiple passive income streams in place, such as product sales, affiliate commissions, or referral fees.

Here are a few general guidelines to keep in mind as you develop your marketing engine:

Never go a day without engaging in at least one form of marketing. Each year, establish specific marketing objectives; review and adjust quarterly. Keep a file of ideas for future reference. I have a bulletin board in my office that I refer to as my “parking lot” for ideas. Keep business cards on hand at all times: in your car, purse, or briefcase. I even carry a brochure or two in case of an emergency. Never send any piece of information (invoices, thank you cards, emails, or mail) without including your company’s contact information. Each communication outside of your company provides you with an opportunity to promote yourself! Your ongoing marketing efforts encompass a variety of activities aimed at acquiring new customers as well as ensuring that you continue to meet the needs of existing customers—who generate referrals. Marketing also entails analyzing the competition, positioning new products or services (determining your market niche), pricing them, and promoting them through continued advertising, public relations, and sales. Continuous promotion keeps your service or product fresh in the minds of prospects and customers, thereby stimulating demand.

When developing marketing and promotional strategies, remember the three Cs of marketing success:

Continuity (communicate regularly with your customers and prospects)
Explicitness (deliver clear benefit driven messages to those customers)
Collaborative efforts (work with marketing experts or a coach, a mastermind team, and form joint venture partnerships to expedite growth)

If you master these three areas, you will be light years ahead of the majority of your competition. “It is unfortunate but true that bad marketing done consistently is better than good marketing done inconsistently,” Jay Conrad Levinson once told me. Maintain consistency in your marketing efforts and you’ll not only avoid the roller coaster income syndrome, but you’ll also ensure a much higher level of success.

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