While I have always been focused on bringing more revenue into your business ? rather than on current events ? the current election cycle in the United States has generated countless opportunities for lessons in marketing, salesmanship and establishing systems that bring in the cash.
Take, for instance, Mitt Romney?s recent statement that he and fellow Republican Paul Ryan will generate 12 million new jobs if Romney is elected in November.
While many news pundits and opposing campaigners ridiculed the claim, many people who own small businesses (including me) didn?t bat an eye ? knowing with confidence that Romney?s claim is not only accomplishable, he is most likely understating the possibilities for job growth in the U.S.
To see how 12 million new jobs could easily be added ? at very little cost to business owners and in a way that actually boosts GDP along with swelling the ranks of the employed ? let?s take a look at the math.
Afterward, let?s discuss how you, as a business owner, could bring in significantly more revenue ? plus substantially leverage what you?re doing in your business ? simply by hiring one of the key staff positions I have in mind.? I?ll reveal the specific job titles to consider ? people who can become a key part of your revenue-generating effort.
But first the math?
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Adding 12 Million New Jobs Using Easy Math
While many factors affect whether a small business will hire new employees, the reality is that tens of millions of small businesses exist in the United States that could employ other people, but ? for a myriad of reasons ? don?t.? Take a look:
- According to the U.S. Small Business Administration, in the United States, the number of businesses without employees has increased steadily, from about 14 million in 1992 to nearly 22 million in 2010.
- An estimated 10 million of these businesses are owned by women ? nine million of which are solo entrepreneurs without any employees.
If all 22 million businesses who currently have no employees hired just one person ? even on a part-time basis ? that?s over 20 million new jobs.
So how can 22 million small businesses justify hiring just one more person? Focus on hiring staff who will generate revenue well beyond their own salary using strategies designed to leverage what you?re already doing.
If you?re a solo consultant, find a ?Person of Leverage? who can take away from you the marketing function, accounting duties, new-client correspondence ? even talking to potential clients ? so you can focus on billable hours and becoming a recognized authority in your industry through media, events and other activity.
If you own a one-person service company, find a technician or other specialist who can take over some service delivery duties while you focus on finding more customers through more advertising and joint ventures with other service companies.
And if you?re one of the many professional practitioners, authors, and other experts who read this newsletter, why not hire a full-time New Business Development manager to research strategic alliances, contact potential partners, negotiate joint marketing efforts, and continuously move you and your expertise into the marketplace?
When looked at this way, hiring ?just one person? makes sense for virtually every one of the solo entrepreneurs in business today.? Even if you hire an outside contractor to do this work (rather than adding them on as a bonafide employee), it?s still a paying job by anyone?s definition.
Cash-Flow Generating Staff Who Can Earn Their Keep
Beyond the ?Person of Leverage? I mentioned above ? that person who can help your solo business grow by taking away those time-consuming, low-return duties you perform now ? there are several staff positions which can literally pay for themselves with new-found revenue that more than pays their salary.
Let?s take a look:
New-Business Development Manager ? Every business owner wishes they could clone themselves so they can simultaneously focus on bringing in new business, developing new products and services, and finding new ways to streamline and more effectively run the company.? No one person can do all these things.? But you can hire a professional to act in your stead.? And your most important ?stand-in? professional will be your New Business Development Manager.
Your new business development manager will initiate?then manage?relationships with outside parties who can drive buyers to you or otherwise help your revenues grow.? They can find new markets, source new product lines or recommend new service offerings, do market research, represent you in the field, recruit bigger joint-venture partners than you would be comfortable pursuing, create important strategic alliances and so on.? They are not salespeople per se, but rather, they develop entirely new revenue streams for the business.
Affiliate Manager ? Straegic-alliance partners on the Internet are called affiliates.? And the job of recruiting affiliates, managing those relationships and supplying affiliates with tools they can use to promote your products and services at their website is done by an Affiliate Manager.
Marketing Implementation Manager for Offline Promotions ? All marketing promotions are implemented either online or offline.? What are offline promotions?? Anything that takes place outside the Internet.? For instance:
??? ?Trade shows?? ???? ?Radio and TV commercials
??? ?Direct mail / card decks / Val-Pak mailers?? ???? ?Catalog placement
??? ?Preview workshops?? ???? ?Statement stuffers
??? ?Press releases?? ???? ?In-store and lobby promotions
??? ?Display advertising?? ???? ?Billboards & literature racks
??? ?Teleseminars and webinars?? ??? ?and other non-traditional marketing outlets
Internet Promotions Manager ? This highly effective job title should be able to act as a webmaster, making simple copy changes to webpages, programming new products or affiliate commissions into the shopping cart, and overseeing any outside contractors who do more extensive website development work for you.? Basic webmastering should always be a primary skill in a good Internet Promotions Manager.
In addition, they should constantly manage new email promotions to your customer list and create the marketing campaigns and advertising copy that will be used by affiliates (above). They should work hand in hand with the New Business Development Manager to execute any campaigns with partners that will take place online.
By adding just one person to your ?solo business,? you can grow rapidly ? so long as that person is focused on bringing in the cash.
To your success,
Janet Switzer
Editor, Instant Income Revenue Report
P.S. Have you established cash-generating systems in your business yet? Does your revenue get banked on a predictable basis? If not, you need to put in place the seven major systems that reliably bring in cash-flow. These systems will help you easily execute pre-scheduled marketing campaigns, run advertising that makes the phone ring, use sales strategies that convert prospective customers to cash-paying buyers, and more.? Click here to read more about these systems and the step-by-step program for establishing them starting today.
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