Does your business have a money tree you can shake when a little extra cash is needed? Every business should have one!
What I mean by a money tree is something you can do to quickly generate revenue when you need it. Where can you find a money tree? Although you can't buy one at your local garden store, they are more common than you might imagine. Just as in a forest, there are many species of money trees, so you need to find one that is right for you. Here are a few common varieties:
The Sale Tree brings in cash by making a discount offer to customers. Buy before June 30th, and you get a lower price. This creates a sense of urgency for customers to buy now in order to save money and can create a new flow of sales for you.
The Bonus Tree can work like the Sale, but instead of a discount, customers get a free item with purchase. Buy one, get one free, for example, or buy this item and get a free accessory. You might make the bonus item something only available as a bonus, and not available to buy. Booklets, books, audio programs and other items with a low production cost and high perceived value are great bonus items.
Generate cash with the New Product Tree by introducing a new product. Customers love new things, so announce it with a flourish. You might cross the New Product tree with the Sale or Bonus tree to get a hybrid with extra appeal.
Shake the Personal Touch Tree by contacting current or former customers and reminding them it may be time to do business with you again. Perhaps the supplies they bought from you a few months ago are running low, or it's time for a follow-up service.
The Referral Tree should be in bloom all the time, but you can get better results when you tend it. Do a mailing or phone campaign to ask current customers to refer their friends and colleagues. You may be able to generate lots of sales quickly this way.
The Cold Call Tree can be hard to shake, but the results can be worthwhile. Identify your best prospects and call or visit them.
One of my favorites is the Publicity Tree. It's an odd one, in that you never know when it is going to bloom, or what it will look like when it does; however, the results are often magnificent. Provide a jumpstart in its growth by regularly sending press releases and pitches to the media.
Decide which money tree is right for your business, then nurture it and keep it growing. And, every once in a while, shake the heck out of it and watch the dollars come floating down!
Copyright Cathy Stucker. As the Idea Lady, Cathy Stucker can help you attract customers and make yourself famous with inexpensive and free marketing ideas. Get free tips, articles and more at http://www.IdeaLady.com/.
MORE RESOURCES updated Thu. February / 09 / 2012 BoldSky | Remedies To Lighten Dark Finger Joints BoldSky To get rid of dark finger joints, here are few natural remedies. Take a look. 1. Scrub everyday while taking bath. This is one simple home remedy to get rid of dark finger joints. You can use a loofah to remove dead skin. Always apply a moisturizer ... |
Daily Chat: Home remedies... San Angelo Standard-Times No wonder so many turn to home remedies for what ails ya! Gargling with salt water for sore throat. One lady used a shaman-type ritual on me once involving an egg and a prayer for a headache. It worked! So what home remedies do you recommend for the ... |
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Expert advice: Home remedies for headaches Times of India Dr. Vikram Singh, Consultant, Neurosurgery at Moolchand Medcity, gives us some excellent home remedies for headaches. Read and practise these tips today. Over to Dr. Vikram Singh... Hydrate yourself: Dehydration can be one of the top causes for a ... |
Home remedies for glowing skin Times of India Today, with expert inputs from Dermatologist Dr Meghna Gupta of Delhi Skin Centre, let's get back to our roots and understand a few quick home remedies for glowing skin. - Coconut oil has anti-inflammatory properties. Virgin coconut oil or coconut ... |
India-specific Home Remedies Will Be The USP For Medico.in: Elan Dekel, Medico ... VC Circle He added, “We will also keep the India specific home remedies in mind like Ayurveda to reach out to the larger audience.” Backed by VC firms like First Round Capital, FirstMark Capital, Greylock, Nexus Venture Partners and prominent angel investors, ... |
Fabulous Frizz Free Hair At Home – J F Lazartigue Inventorspot I searched for some at-home remedies for curly or frizzy hair that would provide similar results for a fraction of the cost. French hair experts from JF Lazartigue has come to the rescue with a line of straightening products consisting of shampoo, ... |
Front burner: News from Turnip Truck and FiddleCakes The Tennessean The first classes are on herbal supplements, myths and home remedies; they are scheduled for 6 pm Thursday and 10 am Saturday. The next classes, on March 8 and 10, define health-food buzz words. On April 12 and 14, Robert Björkholm from Organic Prairie ... |
Wonderful winter camp Himalayan Times We also learnt some home remedies from our teacher Nirmal Bajracharya. We also learnt making gift items from waste materials such as apple net cover, noodles and chocolate wrappers, carton boxes, et cetera. We made nice gift items such as baskets and ... |
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