Welcome to Straight Talk. We at Legacy Legal appreciate your enjoyment of our weekly insights on Mastering the Legacy Hierarchy™, Building a Legendary Future and Creating Lasting Wealth.
Our company has developed a new model for wealth and legacy called the Legacy Hierarchy™. The Legacy Hierarchy™ is built on the idea that there are 5 stages to wealth preservation and legacy. Patterned after Maslow’s Hierarchy of human needs, the 5 stages to wealth and legacy consist of Survival, Security, Affluence, Influence and Legacy. Over the year we will look at these various stages and some tips for you to succeed in each stage.
I will devote the next six weeks discussing 5 principles in the Survival Stage for people that might be struggling to make ends meet. These principles will focus on the business owner and what the business owner can do to increase sales in the business. Increasing sales means more revenue provided the business owner keeps expenses in check. There have been many many books, seminars, and programs about how to increase sales. One program I found extra special was one developed by Eric Lofholm . He calls it the Unstoppable Sales System. I was fortunate to become a trainer for Eric’s system and am authorized not only to talk about it but also to make it available to business owners who want more sales.
The Unstoppable Sales System begins with what is called the Sales Mountain. Like any mountain, we the business owner are guides leading our clients and prospects up the mountain to the promised land of the sale.
The first step in the Sales Mountain is Lead Generation. The sole purpose of Lead Generation is to generate leads. Lead generation systems are not supposed to close deals, find out customer pains. This is where business owners get confused because they mix up the steps in the selling process. Lead Generation is designed to add people to your database that you may stay in touch with them. Some companies may have as many as 10 lead generation systems.
What are some ways leads are generated?
1. Going to a networking event and getting a business card.
2. Having lunch with a strategic referral partner.
3. Having a way to ask clients for more referrals.
4. Sending out letters, coupons and sample products.
The guy with the biggest database wins. As the old saying goes it costs more to obtain a new customer than to get a present customer to buy more of what you have to sell. The more leads, fans and community in your database the easier it is to sell to them.
When I heard this concept, what became clear to me is why in the past I was so unsuccessful at networking events. I lacked the understanding of purpose. I thought the purpose of a chamber event was to stand and talk to one or two people, usually ones I knew and pretend I was meeting new people and actually getting something out of the event. I am being somewhat facetious but I would go to these events getting business cards from people I did not know, who did the same type of work as I did and who I really wasn’t going to get to know. The result was placing the business cards into the round file (trash can). Once I understood that the only purpose of a lead generation system was to obtain leads, it took all the pressure off. I could go to an event without having to worry about whether every person I met was going to be the one. Now I can go an event spend a little time talking to someone, more if I really like them, and then excuse myself to meet other people.
You might ask the question at this point as to what to do once all the leads are generated. Great question. Stay tuned. Next week’s Straight Talk will address this. If you would like more information on the unstoppable sales system please contact our office.
Our vision is to enhance the way people think and talk about wealth not only in money, but in values, beliefs and traditions. Our mission is guiding people in Mastering the 5 Stages of Wealth. Survival to make ends meet; Security for themselves and their family; Affluence in enjoying the fruits and benefits of the hard work put in to make money; Influencing others through clarity of purpose and vision; and Legacy of how you will be remembered and the impact and difference you can make in the world.
Thank you for being a part of our Straight Talk community. What stage of wealth are you in? What can you do to get to the next Stage?