The hardest part of building a business is finding your initial success.
The second hardest part of building a business is keeping the momentum that you worked so hard to create. If you’re not careful, you could fall back into your old habits again.
Once you create some momentum, you must be ruthlessly protective of it. Never let it slip away from you.
In this video, filmed at the Titanium Mastermind in the Dominican Republic, Chris Lakey explains the 6 things you need to do to ensure you never lose momentum in your business.
1. PUT MORE MONEY INTO WHAT WORKS
Too many new business owners get their first success and then blow all of their money. They can’t resist the temptation to buy a “reward” for themselves.
This will only lose you the momentum you worked so hard to create.
Instead, put that money into more advertising or whatever you did to make that money in the first place, and replicate your first success. Then build systems and processes in your business to perpetuate this cycle.
2. KEEP THE HABIT OF FRONT END PROMOTION
Don’t ever stop bringing in new customers. Keep the habit of front end promotion and always be putting your business in front of fresh eyes.
It’s important to keep selling to your existing customers, but don’t try to survive on this alone. Your business will die a slow death.
3. LOSE MONEY ON THE FRONT END
A lot of businesses lose money to acquire new customers. When you see an infomercial selling a product for $29 or $39, what you may not realize is that the infomercial costs more to broadcast than the product it’s selling.
They might be buying a $29 customer for $50, but they can afford to do that because there are more sales being made on the back end.
4. BECOME A MARKETING JUNKIE
Decide that you love marketing. It should be your passion to come up with new angles and product ideas and then implement those ideas.
You’re never going to stop doing marketing, so you might as well learn to love it.
5. KEEP CREATING PRODUCTS
Always keep creating new products. These should be both front end and back end products.
The front end products are important for testing new angles of reaching the market. The back end products are important so that you always have something more to offer to your existing customers. Don’t ever assume they’re fully satisfied and done buying from you.
6. GET INVOLVED IN PROVEN OPPORTUNITIES
Finally, strive to get involved in business opportunities where other people already making a tremendous amount.
Do your due diligence and talk to these people to verify that the opportunity is right for you. But if it is, jump in with both feet. Delayed action can be the death of your business.
The MOBE Titanium Mastermind goes into more depth on this topic. Members learn how to deploy advanced marketing campaigns and scale their businesses through successive revenue ceilings. To learn more about the Titanium Mastermind, click HERE.