A funny man once said, “Entrepreneurs trade out the 9 – 5 job in order to work the 9 – 9 job seven days a week.” After being self-employed for the last 11 years, I agree with him – but a recently-made friend who has a few decades of business experience disagrees.
Starting a business is much like launching a rocket, requiring tons of energy to get it off the ground and into a place where it orbits on its’ own, but many businesses never really get off the ground (roughly 80% don’t make it past their first year).
There are, however, a few blessed people out there who know what it takes to make a business successful without burning yourself out, and I had the pleasure of meeting one of them in our very own Springfield, Missouri. His name is David Sims of the David Sims Coaching Company.
Mr. Sims is an executive business coach who started his consulting career in 1986. He, like many people, found himself in a job he didn’t particularly like which didn’t pay him enough. In short, he wasn’t happy so he decided to change careers. He started by purchasing a franchise – it only made sense! It already had the marketing, sales and management systems in place…all he had to do was follow the systems. He eventually started rubbing elbows with business owners, became a consultant for some pretty prestigious people, and the rest is history!
The more and more he worked with people, the more he could see what was and wasn’t working in their respective businesses. When he started helping people double their income in 12 months, he realized he was onto something!
David has been studying business for so long he literally lives and breathes the information. In fact, he only works with businesses which are already up and off the ground. Sure, he used to work with start-ups but he found his niche was working with organizations with at least five employees or more. He is constantly brushing up on his marketing skills and reading about new systems he can implement into businesses. He has taken courses from Jim Rohn, Dan Sullivan, Dan Kennedy, Bill McGrain and other business gurus while enjoying the opportunity to sit down with Jim Rohn and Michael Gerber.
As I chatted with David over coffee, in the Dancing Mule on Glenstone Ave, one of the things I asked was what many businesses miss which could help them along. Here are his answers:
“One key people need is testimonials, but a lot of people don’t have them. It can really help with marketing efforts, and there are two kinds of testimonials: outcome and objection-overcoming.
An outcome testimonial sounds like, ‘I worked with so and so an increased my profits by 20% in 12 months,’ whereas an objective overcoming testimonial sounds like, “I used David’s referral program and it paid for itself in two months.’
Also, it is very important to use a person’s full name, city, state, and picture. Audio and video recording also grant credibility.”
The Number One Mistake Many New Businesses Make
I asked David this question and, without missing a beat, he said “marketing.”
“Many businesses are usually under-capitalized. I once had a gentleman call me because he needed help marketing his business. As it turns out, he spent $82,000 on equipment for his gym and had nothing left for marketing. What good is having a gym full of equipment if no one knows about it?
I also had a client who was a doctor who spent $36,000 in advertising in a year and a half and got five clients from it. We sat down, did out a marketing plan which included a direct mail campaign and networking which led to 700 new patients.”
The Number One Mistake Many Already-Successful Businesses Make
According to Mr. Sims, the number one mistake many already-successful businesses make is they don’t know how to market correctly. Perhaps they understand the value of marekting, but getting it right is a whole other ball game. In fact, many business owners don’t take the time to study marketing and see what is and what is not working – especially in regards to their business.
“Do you host customer appreciation events, do you have a referral system in place, and do you know who your target market is?”
If you walk into a business networking group and say your ideal referral is everyone, David knows you don’t know who your target audience is! Here are some other golden nuggets Mr. Sims left me with that morning…
The 3 Keys To Marketing
- right target market (demographics, geographics, psychographics)
- Create a message which resonates with your target market,
- deliver the message!
The 3 Keys To Building A Successful Business
-Must be good at marketing
-must be good at selling (I don’t want to be a pushy salesman – if you know how to utilize the sales process)
-must be able to put effective systems in your business
I was happy to devour every little piece of information this man had in order to sustain and grow my own businesses. I am very grateful he took the time with me at all…BONUS: I received a copy of his book which I plan on studying closely over the next few days.
I am of the belief that every business owner needs a David Sims in their life. He is genuine, authentic, and a wealth of information. His calm and friendly demeanor makes him easy to approach and talk to, and let me just say this article barely scratches the surface of what this business expert knows. He published a book recently called “The Ultimate Referral System for Professionals,” and you can purchase a copy here.
If you are a business owner with five or more employees, are already self-sufficient and are looking for a business coach who has over thirty years of experience who can help you double or even triple your income in the next year, feel free to contact David Sims. Or simply call him up to enjoy a nice cup o’ joe – he is a really great friend to have!