When your business gets into financial difficulties, regardless of the reason, the stress and worry can make it extremely difficult to come up with viable solutions.
Many business owners feel they only have bad options such as shedding staff, holding a firesale or in the worst case going into insolvency.
There are things you can do right now to avoid insolvency, and you may be able to use some or all of the 10 ideas we’re going to cover in this series of posts to quickly turn your business around.
So, let’s get started…
The First Step Is To Run A Special Promotion (HINT: DO THIS TODAY…)
Your first step is to generate some immediate cashflow by running a special promotion to your existing prospects and customers.
These are the people most likely to buy from you, so it pays to give them an opportunity to pick up a great deal from you right away.
You can do this by sending a simple email like the one below:
I’m writing to you personally to thank you for being one of our valued customers, or for the interest you’ve shown in our products and services.
It’s people like you who have helped to make our business such a joy to be in, and I just wanted to say thanks.
As a way of rewarding you for your loyalty, I’d like to offer you a special subscriber-only [discount of 20% OR special bonus with purchase] on our most popular product (or service).
[Name of product or service] sells every day for [Price], but for the next 7 days (or until stocks run out), you can get your hands on one for just [special price OR with special bonus].
[Briefly describe the benefits and results people can expect (NOT just the features) from owning or using your product or service. One or two paragraphs is plenty]
[REMEMBER: You can offer an additional product or service, a longer warranty, or extra features as a bonus to increase the value if you don’t want to discount]
If you’d like to take us up on this limited offer, please [Call to action – give us a call on 000 000 000 now to register, or, visit this special subscriber-only webpage now to place your order].
Thanks again for being one of our loyal subscribers.
[Your Phone Number]
P.S. Because we’ve never made an offer like this, it’s likely to be very popular and may sell out quickly. To take advantage of this special discount [or bonus if you are offering that] that’s available for a limited time, please [give us a call on 000 000 000 now to register, or, visit this special subscriber-only webpage now to place your order].
Feel free to modify the wording to suit your own personal style, then send the email out to your existing database TODAY and watch the sales roll in…
Then 3 days later, send a followup message something like this:
SUBJECT: In case you missed this
A few days ago, I sent you the email below about a special offer that’s only available to our loyal subscribers.
Because the response has been so strong, I wanted to make sure you don’t miss out.
So here’s that message again…
I’m writing to you personally to thank you for being one of our valued customers, or for the interest you’ve shown in our products and services…
…PASTE THE ENTIRE ORIGINAL MESSAGE IN HERE AND SEND IT AGAIN
You’ll find that by sending a friendly followup message like this, you could easily increase your sales from the promotion by 30%
ACTION STEP: Try this today and let me know your results by posting in the comments below 🙂
INVITATION: Each month we hold a limited number of Free Business Strategy Sessions designed to help business owners with everything from turning their enterprises around and back to sustainable profitability, to leveraging the assets of fast growing companies so they can grow even more quickly.
Would you like to join us?
If you’d like to schedule one of these Free and obligation free one-on-one sessions, let us know by email at email@example.com or call 1300740066 and we’ll set things up for you.
About The Author: James Huy Vuong is a CPA, Registered Tax Agent, Business Broker, Certified Exit Planner and the owner of Your Accounting Partners, an Associate of Negotia Group. Partnering with businesses from start to scale thru to sale.
Your Accounting Partners