Total Business Mastery Workbook

r
BRIAN TRACY'S TOTAL BUSINESS MASTERY I BUILD A GREAT BUSINESS!

I n t r o d u c t i o n 1
1 B e c o m e a G r e a t L e a d e r 3 1
2 O f f e r a G r e a t P r o d u c t o r S e r v i c e 5 3
3 D e s i g n a G r e a t B u s i n e s s P l a n 6 9
4 C r e a t e a G r e a t M a r k e t i n g P l a n 8 1
5 G e n e r a t e G r e a t N u m b e r s 1 1 5
6 A t t r a c t a n d K e e p G r e a t P e o p l e 1 3 9
7 P e r f e c t a G r e a t S a l e s P r o c e s s 1 5 7
8 B e c o m e a G r e a t B u s i n e s s p e r s o n 1 7 5
9 Cr e a t e a Gr e a t Cu s t o me r E x p e r i e n c e 1 8 7
1 0 L i v e a G r e a t L i f e 2 0 7
S u m m a r y & Wr a p U p 2 1 9
A p p e n d i x 2 2 9
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j p * \
jpfev
B u i l d a G r e a t B u s i n e s s 2
Z e r o - B a s e d T h i n k i n g 1 2
Q u i c k L i s t M e t h o d 1 9
1 0 G o a l M e t h o d 2 4
M a j o r D e f i n i t e P u r p o s e 2 7
1
B e c o m e a G r e a t L e a d e r 3 2
P o i n t s o f I n t e n s i t y 3 9
Business Skills Analysis - Key Result Areas in Business 44
R e s u l t s P l a n n i n g F o r m 4 6
SESSION 2
O f f e r a G r e a t P r o d u c t o r S e r v i c e 5 4
A r e a s o f E x c e l l e n c e 6 0
SESSION 3
D e s i g n a G r e a t B u s i n e s s P l a n 7 0
SESSION 4
C r e a t e a G r e a t M a r k e t i n g P l a n 8 2
F o u r P r i n c i p l e s o f Ma r k e t i n g S t r a t e g y 8 5
T h e M a r k e t i n g M i x 9 8
SESSION 5
G e n e r a t e G r e a t N u m b e r s 1 1 6
B u s i n e s s N u m b e r s t o Wa t c h 1 2 0
P r o f i t C u r v e 1 3 0
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SESSION 6
A t t r a c t a n d K e e p G r e a t P e o p l e 1 4 0
SESSION 7
P e r f e c t a G r e a t S a l e s P r o c e s s 1 5 8
Sales Skills Analysis - Key Result Areas in Selling 163
S a l e s I m p r o v e m e n t P r o c e s s 1 7 0
SESSION 8
B e c o m e a G r e a t B u s i n e s s p e r s o n 1 7 6
Management Skills Analysis - Key Result Areas in Management.... 183
SESSION 9
C r e a t e a Gr e a t C u s t o me r E x p e r i e n c e 1 8 8
G e t t i n g R e f e r r a l s 2 0 1
SESSION 10
L i v e a G r e a t L i f e 2 0 8
e T i m e Q u a d r a n t s 2 1 0
S e l f E v a l u a t i o n 2 1 5
SUMMARY & WRAP UP
D e c i s i o n M a k i n g ! 2 2 1
S e m i n a r E v a l u a t i o n 2 2 5
0 A c t i o n P l a n n i n g 2 2 7
APPENDIX
B u s i n e s s P l a n n i n g f o r S o l i d G r o w t h 2 3 0
B u s i n e s s P l a n Te m p l a t e 2 4 2
* * \
- **\
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Brian Tracy's
Build a Great Business!
9!s *k
Introduction
Brian Tracy
Brian Tracy. All rights reserved. The contenls, or parts thereof, may not be reproduced in any form for any purpose without the written permission of Brian Tracy. (TBM/G-12]
NOTES
Brian Tracy. All rights reserved. The contents, or parts thereof, may nol be reproduced in any form for any purpose without the written permission of Brian Tracy. [TBM/G-12]
NOTES
BRIAN TRACY'S TOTAL BUSINESS MASTERY I BUILD A GREAT BUSINESSI
You have special talents and
abilities that you can use to
achieve all your goals in life.
What are they?
NOTES
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NOTES
Clarify
Develop absolute clarity
about who you are,
what you want, and the
best way to achieve it
NOTES
Maximize
Determine your special
talents, abilities and
strengths and focus on
developing them to
a higher level
irj<;nni?lvi '.F.vfi
NOTES
Multiply
Leverage yourself and your
business with other
people's customers,
knowledge, abilities, efforts,
money and resources
BRIAN TRACY'S TOTAL BUSINESS MASTERY
NOTES
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i. Do more of somethings
2. Do less of otherthings
3. Start doing something
new
4. Stop doing something
altogether
NOTES
Time Allocation Exercise I
i
Rule: You cannot save time
You can only spend it differently.
&
1. What are you going to do more of?
2. What are you going to do less of?
3. What are you going to start doing?
4. What are you going to stop doing?
NOTES
Is there anything in your life
that, knowing what you
now know, you wouldn't
get into again today, if you
had it to do over?
NOTES
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J ^ N
Continually conduct a KWINK analysis on every area of your business and
personal life.
Key Question: "Knowing fhat I Now Know, is there anything I am doing
today that I wouldn't get into again today if I had it to do over?"
1. Is there any relationship, business or personal, that you wouldn't get
into again today?
1)
2)
3 ) _
2. Are there any products that you would not start offering/selling again
today, knowing what you now know?
1)
2)
3)
3. Are there any services that you wouldn't start offering again today,
knowing what you now know?
1)
2)
3)
4. Are there any markets that you wouldn't get into again today if you had
it to do over?
1 ) _ _
2)
3)
5. Are there any customers that you would not solicit or take on again
t o d a y , k n o w i n g w h a t y o u n o w k n o w ? ' ' * * )
1 ) .
2)
3)
6. Is there any sales process or marketing method that you wouldn't start
using again today, knowing what you now know?
1 ) .
2 ) .
3)
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4^^
7. Is there any person in my business that you would not hire, promote,
or assign to a particular task if you had it to do over again today?
1)
2)
3)
8. Is there any channel of distribution that you would not start using
again if you were was starting over today?
1)
2)
3)
9. Is there any business process or method in your company that you
wouldn't start using again if you had it to do over?
1)
2)
3)
10. Is there any advertising or marketing method or expense that you
wouldn't start using again today, knowing what you now know?
1)
2)
3)
16 BRI AN TRACY' S TOTAL BUSI NESS MASTERY I BUI LD A GREAT BUSI NESS!
11. Is there anything in your current strategy that you would not start
doing again, knowing what you now know?
12. Is there any investment of time, money or emotion that I wouldn't
make again today, knowing what I now know?
1) Time?
2) Money?
3) Emotion?
13. Is there any part of your health, tness, diet or lifestyle that you
wouldn't start again today?
1 ) .
2)
3)
14. Is there anything at all in my life that, knowing what you now know,
you wouldn't get into again today?
1)
2)
3)
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g ^ \
15. What actions are you going to take, or stop taking, as a result of this
exercise?
1)
2)
3)
What one action are you going to take immediately?
1) How will you measure success?.
2) What is your expected date of completion?.
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Everyone is positive, committed to
success
Share ideas and opinions openly
Ask lots of questions
Look for ways to help, encourage
Take turns, give each person chance
to speak
NOTES
m
^ " " i >
B|
&W1
When you only have
30 seconds to write
down your answers,
they will be as accurate
as if you had 30 minutes
BRIAN TRACY'S TOTAL BUSINESS MA5TF.RY
I !
NOTES
20 BRIAN TRACY'S TOTAL BUSINESS MASTERY I BUILD A GREAT BUSINESS!
QUICK LOST
When you have only 30 seconds to answer a question, your answers will be
as accurate as if you had 30 minutes.
1. What are your three most important business goals right now?
1)
2)
3)
2. What are your three most important nancial goals right now?
1 ) 7
2)
3)
3. What are your three most important family goals right now?
1)
2)
3)
y^P^V
BRIAN TRACY'S TOTAL BUSINESS MASTERY I BUILD A GREAT BUSINESS! 2]
4. What are your three most important health goals right now?
1)
2)
3)
5. What are your three biggest problems or difculties in your business
or personal life right now?
1)
2)
3)
6. What are the three most important skills or capabilities that you need
to develop in the future?
1)
2)
3)
7. What are the three most important goals that you would like to
achieve in the course of your career?
1)
2)
3)
What one action are you going to take immediately as a result of your
answers to these questions?
i. Where are you now?
2. Where do you want to
be in the future?
3. How are you going to
qetthere?
BRIAN TRACT'S TOTAL BUSIN65
NOTES
1
1 0 G o a l M e t h o d I
i. Writedown 10 goals
2. One year time horizon
3. First person singular
5. Present tense
6. Positive statement
lk 7' Seta deadline
! i !
! ! !- ii
! S S J S i . K i i i i i i i i U ^ l a i i a i i f i i i l i i a i t t i i l i i l f l
1
1
NOTES
NOTES
26
BRIAN TRACY'S TOTAL BUSINESS MASTERY I BUIID A GREAT BUSINESSI
Write down at least 10 goals for the next twelve months - in the present,
positive, personal tense:
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
' " %
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mJfrma^Bk
I
Single minded focus on
one goal, the most
important/ simplies
your life and accelerates
your progress
i
BRIAN TRACY'S TOTAL BU5INF55 MA5TERY
NOTES
You must know exactly what you want - more than anything else.
"What one goal, if you achieved it, would have the greatest positive impact
on your life?"
1. What is your most important goal in life right now?
2. What is your deadline for achieving this goal?
3. Determine the obstacles you will have to overcome, the problems you
will have to solve, to achieve this goal.
1)
2)
3)
4. What additional knowledge, skills, and abilities will you have to
acquire or develop to achieve your goal?
1)
2)
3)
^
^ %
0^\
0P*\
r
BRIAN TRACY'S TOTAL BUSINESS MASTERY I BUILD A GREAT BUSINESS! 29
5. Whose cooperation, assistance, or support will you require to achieve
your goal?
1)
2)
3)
6. Based on your answers to the above questions, what steps will you need
to take to achieve this goal?
1)
2)
3)
4)
5)
6)
7)
What one step are you going to take immediately?
2) What is your expected (late of completion?.
30
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^
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Your personal
leadership ability is the
major limit on what
you can achieve
i !:
NOTES
i. Leadership is the most important
factor for business success
2. Leadership is the ability to get
results
3. Leaders have a clear vision of the
future
4. Leaders have the courage to take
action with no guarantee of success
NOTES
i. Set and achieve business goals
2. Market and innovate-continually
seek faster, better, cheaper, easier
pp
ways to create and keep customers
3. Set priorities and work on key tasks
4. Focus and concentrate where
superior results are possible
NOTES
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5. Solve problems and make decisions
6. Lead by example, be a role model
Ask: "What kind of a business
would my business be, if everyone
in it was just like me?''
7. Perform and get results.
Always ask: uWhat results are
expected of me?"
BRI ANTRACY'
_^_ J
NOTES
BECOME A GREAT LEADER
Leadership is action, not position.
When you act like a leader, you become one.
All leadership skills are learnable with practice.
1. What are your three most important business goals right now?
1)
2)
3)
2. What are three ways that you could market your products/services
faster, better, cheaper?
1)
2)
3)
3. What are your three top priorities for yourself and your business
right now?
1)
2)
^ \
4. In what areas should you focus and concentrate your time and resources?
1)
2)
3)
5. What are the three biggest problems or obstacles you are facing
right now?
1)
2)
3)
6. What is the simplest way to solve each of the problems in #5?
1)
2)
3)
7. What are your three biggest, best opportunities right now?
1)
2)
3)
8. What one step could you take immediately to take advantage of each
of these opportunities?
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1)
2)
3)
9. What three behaviors of yours are most important in setting a good
example to others?
1)
2)
3)
10. What are the most important results that are expected of you?
1 ) ^
2)
3 ) .
What are the decisions
or actions you take that
have the greatest
impact on other people
and your future?
NOTES
POINTS OF INTENSITY
There are certain things you do that can affect the actions of other people.
These activities have high potential consequences in terms of time
expenditure, cost and results.
1. What are the three things you do in general that have a substantial
impact on the lives or work of other people?
1)
2)
3)
2. What are the decisions you make regarding your personal time usage
that have a major impact on your income?
1)
2)
3)
3. What are the decisions and actions of yours that have a major impact on
your customers?
1)
2)
3)
<S> Brian Tracy. All rights reserved. The contents, or parts thereof, may not be reproduced in any form for any purpose without the written permission of Brian Tracy. [TBM/G-12]
4. What are the career decisions you make that have a major impact on
yourself and others?
1)
2)
3)
5. What are the nancial decisions you make that can have a major
impact on yourself and others?
1)
2)
3)
6. What are the lifestyle choices that have an impact on your family?
1)
2)
3)
7. What are the health and tness decisions you make that can greatly
affect how long and how well you live?
1)
2)
3)
8. What are you going to do differently as the result of your answers to
the above questions?
1)
2)
3)
What are you going to do rst?
" * %
i. What are your key result
areas?
2. What can you and only you do
which, if done well, can make a
real difference?
3. What is the most valuable use
of your time-right now?
BRIAN TRACY'S TOTAL BUSINESS MA5TERY
NOTES
44
BUILD A GREAT BUSINESS
!S SKILLS ANALYSB
KEY RESULT AREAS IN BUSINESS
**%
Give yourself a grade of 1-10 to determine how well you are doing in each area.
1. Productivity -1 am highly productive and efcient and I get a lot done
each day.
GRADE 1 2 3 4
5 6 7 8 9 10
2. Marketing and Sales -1 have an aggressive, on-going and successful
sales program in place.
GRADE 1 2 3 4
5 6 7 8 9 10
3, Innovation -1 am continually introducing new and better products and
services.
GRADE
8
10
j
4. Organizational Development - My business operates smoothly and
efciently with good people in every job.
GRADE 1 2 3 4
5 6 7 8 9 10
""N
45
5.
Cost Control -1 continually monitor all expenses to assure the lowest
cost of operations commensurate with high quality products, services
and delivery.
GRADE 1 2 3 4 5
6 7 8 9 10
6. Training and Development -1 am continuously upgrading my skills
and the skills of my people.
GRADE
1 2 3 4 5 6 7 8 9 10
Ji * \
7. Protability -1 have a highly protable business that is growing
steadily in sales and net income.
GRADE 1 2 3 4 5
6 7 8 9 10
Strongest area?.
Weakest area?
Action Commitment:
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RESULTS PLANNING FOR
In business, results are everything.
Some results are much more important and valuable than others.
Your ability to select the most important result you can get at any time
determines your productivity, performance, output and career success.
A result has six characteristics:
1. A result is clear and specic;
2. A result is measurable;
3. A result is under your control;
4. A result is something for which you are completely responsible;
5. A result is time-bounded and scheduled;
6. A result is essential to your company and to your success.
1. What specic results are expected of you?
1)
2)
3)
4)
5)
6)
7)
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jj&\
2. Law of Three: There are only three tasks or activities that account for
90% of your results. What are they?
Question: If you could only do one thing all day long, what one result
would contribute the greatest value to your business?
Answer:
Question: If you could only do two things, all day long, what would
be the second most valuable result you could accomplish?
Answer:
Question: If you could only do three things, all day long, what would
be the third most important result you could get, or the third most
valuable contribution you could make?
Answer:
3. Based on your answers to the questions above, write down the three
most important results for which you are responsible:
1)
2)
3)
4. What actions could you take immediately to achieve your three most
important results?
Result #1:
1)
2)
3)
Result #2:
1)
2)
3)
Result #3:
1)
2)
3)
5. What is the most important single action you could take to achieve
your most important result in each area?
1)
2)
3)
What one action should you take immediately to achieve your most
important result?
50
RECOMMENDED LESSONS:
ICOME A GREAT LEADER
1. How Excellent Leaders Lead: (SM>SMGS)
2. Becoming A Leader: (SM>SMGS)
3. Strategies for Effective Leadership: (SM>SMGS)
To access these and other lessons, log on to Business Growth Strategies
(www.bizgrowthstrategies.conri and type in the name of the lesson in the
search window.
BGS CATEGORIES - ABBREVIATIONS KEY:
Leadership
Management Growth Strategies (L>MGS)
Business Success
Profit Growth Strategies (B>PGS)
Entrepreneurial Growth Strategies (B>EGS)
Sales
Sales Growth Strategies (S>SGS)
Sales Management
Sales Manager Growth Strategies
(SM>SMGS)
Personal Success
Personal Growth Strategies (P>PGS)
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51
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52
Session 2
Offer a Great
Product or
Service
Brian Tracy
The quality of your product/service
determines 90% of business success
Quality is the key determinate of
your growth and protability
It is the key determinate of your
reputation
NOTES
!
How often customers say:
"This is a
great product!"
BRIAN TRACY'S TOTAL BUSINES5 MASTERY
NOTES
OFFER A GREAT PRODUCT OR SERVICE
"Quality is what your customers say it is."
Quality Rating: "What percentage of the time does your product
or service do what you say it will do?'
1. What exactly do you sell - dened in terms of what your product/service

does to change or improve the life or work of your customer?
1)
2)
3)
2. What does your customer consider value, and is willing to pay for?
1)
2)
3)
3. What does your product/service achieve, avoid or preserve for your
customer?
1) Achieve?
2) Avoid? _
!* * \
3 ) P r e s e r v e ? " * )
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40^
BRIAN TRACY'S TOTAL BUSINESS MASTERY I BUILD A GREAT BUSINESSI 57
4. Which of your products or services sell the most easily and are the
most popular?
1)
2)
3)
5. What are the best compliments that you receive from your happy
customers?
1)
2)
3)
6. What do your products or services offer to your customers that make
them superior to your competitors?
1)
2)
3)
7. 20% of your features and benets account for 80% of customer
satisfaction. What are those 20%?
1)
2)
3)
58 BRIAN TRACY'S TOTAL BUSINESS MASTERY I BUILD A GREAT BUSINESSI
8. If your best products were perfect in the minds of your customers,
how would they be different from today?
1 ) .
2)
3)
9. What are the core competencies in your business that enable you to
produce excellent products and services?
1 ) .
2)
3)
10. What skills, abilities, knowledge or capabilities will you need in the
future to produce great products and services?
1 ) .
2)
3)
11. What products or services should you abandon or discontinue because
you cannot achieve excellence in those areas?
1 ) .
2)
3 ) " ^
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12. What three things could you do, starting today, to trigger the response,
"This is a great product!" from your customers?
1)
2)
3)
NOTES
yf^^S
J00^\
BRIAN TRACY'S TOTAL BUSINESS MASTERY I BUILD A GREAT BUSINESS! g]
AREAS OF EXCELLENCE
The market only pays superior rewards for superior performance.
Determine the areas of operation where you are or could be excellent:
1. Product: My product is superior to that of my competitors in the
following ways:
1)
2)
3)
The ways in which we could be superior in the future are:
1)
2)
3)
2. Services: My services to my customers are superior in the
following ways:
1)
2)
3)
The ways in which we could be superior in the future are: ;
1)
2)
3)
3. People: The people in my company are superior to our competitors in
the following ways:
1)
2 ) . .
3)
The ways in which we could be superior in the future are: 1
1 ) .
2)
3)
4. Location: The places we serve our customers are superior to our
competitors in the following ways:
1 ) .
2)
3)
Our location/facilities could be superior if we:
1)
2)
3)
5. Convenience: It is more convenient/easy for our customers to buy from
us because:
1)
2)
3)
It would be easier for our customers to deal with us if we:
i ) :
2)
3)
6. Responsiveness: We respond to our customer needs faster than our
1)
2)
3)
We could increase our speed of response to our customers if we:
1)
2)
3)
7. Price: Our prices/charges/fees to our customers are superior to our
1)
2)
3 ) :
Our prices/charges would be superior if we:
1)
2 ) .
3)
8. Quality: Our products/services are superior in quality to our
1)
2)
3)
!* * \
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We could improve the quality of our products/services if we:
1)
2)
3)
9. Promotion: Our methods of sales and promotion of our products/services
are superior to our competitors in the following ways:
1)
2)
3)
Our methods of sales and promotion could be superior to our
competitors if we:
1)
2)
3)
10. Processes: Our ways of doing business and processing customer
purchases, needs, and complaints are superior to our competitors in
the following ways:
1)
2)
We could greatly improve on our processes and procedures for dealing
with customers if we:
1)
2)
3)
11. Reputation: Our reputation in our market is superior to that of our
1)
2 ) :
3)
Our reputation would be even better than our competitors if we were to:
1)
2)
3)
12. If I could wave a magic wand and improve every area of my business,
I would work to bring about the following improvements:
1)
2)
3)
Brian Tracy. All rights reserved. The contents, or parts thereof, may not be reproduced in any form for any purpose without the written permission of Brian Tracy. fTBM/Gl 2]
j 0 ^ \
13. The three most important/valuable improvements I could make right
away are:
1)
2)
3)
The one change/improvement I am going to implement immediately is:
68
OFFER A GREAT PRODUCT OR SERVICE
" %
1. Identify your Target Market: (B>EGS)
2. Pump up your Prots! (B>PGS)
3. Finding Ideal Customers: (B>PGS)
search window.
Leadership
Business Success
Sales
Sales Management
(SM>SMGS)
Personal Success
Your ability to plan
and organize every
detail of your business
is essential to your
success and protability
^ r
NOTES
I
THINKING!
The potential consequences of
yourthinking makes thinking
the most important and
valuable activity you engage in
BRIAN TRACY'S TOTAL 81
NOTES
r
Normal Thinking Process:
Stimulus I Response
SuperiorThinking Process:
Stimulus I Thought I Response
Key: Response-Ability
M
NOTES
i. Values: clear, core principles
2. Vision: ideal picture of the
future business
3. Mission: goals to accomplish
4. Purpose: reasons why
business exists
At, BUSINE55 MASTERY
I I
NOTES
Excellent leadership and
management
Excellent products and
services
Excellent reputation in
market
Solid nancials
NOTES
DESIGN k GREAT BUSINESS PLAN
The most important work you do is "THINKING,
55
The quality of your thinking about the key elements of your business has the
greatest impact of all on your success.
1. What are the core values and principles that you and your business
stand for and believe in?
1 ) .
2 ) _ _
3)
2. If your business was perfect in every way, what would it look like in the
future?
1)
2)
3)
3. What is your mission for your business - dened in terms of how you
want to change or improve the life/work of your customers?
a) Your mission: "Our mission is to:
<**%>
J 0 ^ \
b) Your method: "We achieve our mission by:
c) Your measure: "We measure our success by achieving these
numbers:
4. Why are you in this business at all? What is your purpose or reason for
being in business? What difference do you want to make?
1)
2)
3)
5. The three most important leadership/management qualities we have, or
need to have, are:
1)
2)
3)
6. The very best, highest quality products and services we offer are:
1)
2)
3)
7. Because of our excellent reputation, the best things people say
about us are:
1)
2 ) .
3)
8. The three areas where we are, or should be, leaders in our market are:
1)
2 ) .
3 ) :
9. The three most important areas of focus for our marketing and sales
activities are:
1)
2)
3)
10. We focus intensely on serving our customers well by doing these three
things:
1)
2)
3)
* * \
11. The three best qualities of our staff are, or should be, the following:
1)
2)
3)
12. We encourage people to open and honest especially in these
three areas:
1)
2)
3)
What one action are you going to take immediately as a result of these
answers?
80
DESIGN k mm BUSINESS PUN
1. Planning For Success: (B>PGS)
2. Developing Your Business Plan: (B>PGS)
3. Create Your Business Systems: (B>PGS)
(www.bizgrowthstrategies.com) and type in the name of the lesson in the
search window.
Leadership
Business Success
Sales
Sales Management
(SM>SMGS)
Personal Success
*m.
BRIAN TRACY'S TOTAL BUSINESS MASTERY ! BUILD A GREAT BUSINESS!
Marketing Strategy:
All business strategy is
marketing strategy
Your ability to attract qualied
prospects determines your
success in business
N TRACY'S TOTAL BUSINESS MASTERY
NOTES
83
-4.
* !
Marketing Strategy
You are responsible for
making the critical
strategic decisions for
your business
BRIAN TRACY'S TOTAL BU5IN(:SS MASTERY
NOTES
Brian Tracy. All rights reserved. The contents, or parts thereof, may not be reproduced in any form for any purpose without ihe written permission of Brian Tracy. [TBM/G-12]
Your competition
determines your level of
sales, the prices you
charge, and how much
money you make
^ !
1 - ^^M
TOTAL. BU5INES
NOTES
US
I B
Your decisions in these
four areas determine
the success or failure of
your business
NOTES
NOTES
This is the product,
service, customer,
market, area of
technology where you
focus all your efforts
IAN TRACY'S TOTAL. BUS
NOTES
i. Your competitive advantage
2. Your area of excellence,
superiority
3. Your "Unique Selling Proposition"
Where are you or could you
be "the best?"
kMj U4SI *| r aUi MKI *ZV
NOTES
Who are those customers who most
appreciate your area of superiority?
i. What are their demographics?
2. What are their psychographics?
3. How would you describe your
"perfect customer?"
NOTES
Where you focus your time, money
and resources.
i. What are the best possible ways to
contact your ideal customers?
2. What are the best possible media?
3. What are the most powerful
appeals?
RACY' STOT
NOTES
i. Age?
2. Gender?
3. Income?
4. Education?
5. Occupation?
6. Location?
7. Family Status?
BRIAN TRACY'S TOTAL BUSINESS MA5TERY
NOTES
Brian Tracy. All rights reserved. The contents, or parts thereof, may not be reproduced in any form (or any purpose without the written permission of Brian Tracy. [TBM/G-12]
BRIAN TRACY'S TOTAL BUSINESS MASTERY i BUILD A GREAT BUSINESS!
i. Goals, ambitions?
2. Wants, needs, motivations?
3. Hopes, dreams, aspirations?
4. Fears, doubts, worries?
5. Problemsto be solved?
NOTES
Attracts a steady stream of
qualied prospects
Emphasizes your "Unique Selling
Proposition"
Positions your product as the rst,
best choice in the customers7
mind
BRIAN TRACY S MASTERY
NOTES
Your goal is to position
M A l U t t l S l f ! I I V X 1 I
K* ~
as the wonly" choice
for what you sell
NOTES
CREATE A GREAT MARKETING PLAN
FOUR PRINCIPLES OF MARKETING STRATEGY
Your ability to think and plan strategically enables you to focus, concentrate
and get better results at lower cost.
1. What is your area of specialization?
1) Product/Service?
2) Market?
3) Customer Type?
4) Geographical Area?
5) Outcome/Result? _
2. If you were starting over today, where/how would you choose to
specialize?
1)
2)
3)
3. What is your area of differentiation? Your area of competitive
advantage? In what way are your products/services superior to
your competitors?
96 BRIAN TRACY'S TOTAL BUSINESS MASTERY I BUILD A GREAT BUSINESS)
2 ) :
3)
4. What is your "Unique Selling Proposition," the one value or benet
that makes your product or service more desirable than any other?
5. Segmentation - who are the customers who can most benet and pay
for what you do best in your area of specialization? "**')
1)
2 ) :
3)
6. Concentration - on what customers should you focus your time, money
and efforts?
1)
2)
3)
J p \
JP*\
7. What are your three best and most popular products/services, based
on the above?
1)
2)
3)
8. What products, markets, or customers should you abandon or
discontinue, based on the above?
1)
2)
3)
What one action are you going to take immediately, based on your answers
to the above questions?
Any change in the mix
can change your sales
and your results
NOTES
3rian Tracy. All rights reserved. The contents, or parts thereof, may not be reproduced in any form for any purpose without the written permission of Brian Tracy. [TBM/G-12]
99
The Marketing Mix
!
S. - 0
' *
Promotion
5. Packagi
6. Position
7. Peopl
BRIAN TRACY'S TOTAL BUSINESS MASTERV
NOTES
Area of Acti vi ty
i. Product
2. Price
3. Promotion
4. Place
5. Packaging
6. Positioning
7. People
I mprovement Cumul at i ve
10%
10%
10%)
10%
10%
10%
10%
S TOTAL BUS'
NOTES
1.10
1. 21
i-33
1. 61
1.94
'!;/,.
'-:
!-!- .
Product
i. What do you sell? Describe it in
terms of benets, outcomes;
2. What does it achieve, avoid,
preserve?
3. How does it change or improve
the life or work of your
customer? Transform?
BRIAN TRACY'S TOTAL BUSINF5S MA5TERY
NOTES
1 Brian Tracy. All righls reserved. The contents, or parls thereof, may not be reproduced in any form for any purpose without the written permission of Brian Tracy. [TBM/G-12]
i. What does it cost?
2. How do you charge?
3. How does the customer pay?
4. Could there be a better way to
charge or pay?
. A C Y "
NOT
Brian Tracy. All rights reserved. The contents, or parts thereof, may not be reproduced in any form for any purpose without the written permission of Brian Tracy. [TEM/G-12]
T
i
'
P r o m o t i o n B
8$
w:
How do you reach your
customers?
i
0 1 - ^
" * 0
Marketing, advertising and
public relations?
3-
Sales strategies and methods?
4-
What could you add, delete,
t f f
improve, increase?
5
BRIAN TRACY'S TOTAL BUSINE5S MASTERY
NOTES
Advertising and Promotion
^^^^J
Creates an immediate response:
"That's for me!"
ul want that!"
"How do you do that?"
Goal: To get customers to want
to buy what you are selling
H i
R1AN TRACY'S TOTAL BUSINESS MASTERY
NOTES
i. Where do you offer your
product/services?
2. Where else could you sell your
product/service?
3. How could you change/improve
the location of your sales
activities?
i RACY' STOTAL BU
NOTES
!
!if
!it *
Positioning
i. How are you talked about, thought
about by your customers?
2. What words do you "own" in your
customer's mind?
3. What words would it be helpful for
you to own?
4. How can you get your customers to
think of you this way?
NOTES
Customers are 100%
emotional
How they feel determines
their decisions
Every customer contact must
be warm, friendly, positive
NOTES
BRIAN TRACY'S TOTAL BUSINESS MASTERY ! BUILD A GREAT BUSINESS!
a. Product A 10%
2. Price A 10%
3. Promotion
A 10%
4. Place
A 10%
5. Packaging j
A 10%
" V
6. Positioning} A 10%
7. People
1. Product
2. Price
3. Promotion
4. Place
5. Packaging
6. Positioning
7. People
CREATE A GREAT MARKETING PLAN
As markets change, you must be prepared to change as well. A single
change in one element of the marketing mix can change you sales and prof
itability dramatically.
1. Product/Service: what additions or changes could you make to your
product or service offerings to make them more attractive?
1 ) _ _
2)
3)
2. Price: Are your products or services priced properly for the existing
market? How could you change your pricing to be more competitive?
1)
2)
3)
3. Promotion: How could you market or sell your products or services
more effectively?
1)
2)
3 ) " >
BRI AN TRACY' S TOTAL BUSI NESS MASTERY I BUI LD A GREAT BUSI NESS! ] \ ]
4. Place: Where else, and in what way, could you offer your products/
services differently?
1)
2)
3)
5. Packaging: How could you package your offerings differently to make
them more attractive, more desirable?
1)
2)
3)
6. Positioning: How could you position yourself more effectively against
your competition so your product appears superior to theirs?
1)
2)
3)
7. People: Who are the key people inside and outside your business who
most determine your level of sales?
1)
2)
112 BRI AN TRACY' S TOTAL BUSI NESS MASTERY I BUI LD A GREAT BUSI NESS!
What one action are you going to take immediately as a result of your ^
answers to the questions above?
BRIAN TRACY'S TOTAL BUSINESS MASTERY i BUILD A GREAT BUSINESS!
1. Magical Marketing: (B>PGS)
2. Market and Sell Anything: (B>PGS)
3. Use the 7 Step Formula: (B>PGS)
search window.
Leadership
Business Success
Sales
Sales Management
(SM>SMGS)
Personal Success
-;. Personal Growth Strategies (P>RGS)
Continual focus on
your most important
numbers changes
and improves them
IAN TRACY'5 TOTAL BUS'
117
Fact: The potential protability
of your business is far greater
than your current results
FUTURE
Key: Focus on the key numbers in your business
i Brian Tracy. All rights reserved. The contents, or parts thereof, may not be reproduced in any form for any purpose without the written permission of Brian Tracy. [TBM/G-12]
r
The Economic Denominator1
The one number that most
accurately predicts business
success or failure
What is it for your business?
| ;
r ' ^
Business Numbers to Watch
1
i
1 ;
i . Sales - of all products, from all services
!
j
2. Other revenues - of all kinds
1
wBl *Jk 1
3-
Cost-of-goods sold-all inclusive
4-
Expenses - every cost of doing business
5-
Salaries and wages - usually the biggest
single expense
1
6. Lead generation - number and cost per lead
7-
Conversion rate - from lead to customer
:
ni
L_
Hjjj|UjAl||xjjj2U|i|9i^
NOTES
BUILD A GREAT BUSINESS! I BRIAN TRACY'S TOTAL BUSINESS MAKEOVER
121
r
1 * 0
8. Cost of customer acquisition
9. Average size of sale
10. Average gross prot per sale
11. Average gross prot margin as percentage
12. Average net prot per sale
13. Average cost per sale
14. Average number of times a customer buys
HAN TRACY'S TOTAL BUSINESS MASTERY
15. Lifetime value of a customer
16. Sales per employee-average
17. Sales per day, week, month
18. Sales per specic product or service
19. Average size of up-sell or cross-sell
20. Average number of referrals received
21. Average sales per square foot - retail
iRACY'S TOTAL BUSINESS MASTERY
NOT
t
"8
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29. Amount of debt or total owed by the
business
30. General trend of sales numbers
31. Number of orders for future fulllment
32. Number and age of bad debts, past due
payments
33. Your "Economic Denominator," your most
important number
What is it?
IAN TRACY'S TOTAL. BUSINESS MASTERY
NOTES
GENERATE GREAT NUMBERS
BUSINESS NUMBERS TO WATCH
1. Sales - of all products, from all sources
2. Other revenues - of all kinds
3. Cost-of-goods sold - all inclusive
4. Expenses - every cost of doing business
5. Salaries and wages - usually the biggest single expense
6. Lead generation - number and cost per lead
7. Conversion rate - from lead to customer
8. Cost of customer acquisition
9. Average size of sale
10. Average gross prot per sale
11. Average gross prot margin as percentage
1 2 . A v e r a g e n e t p r o t p e r s a l e ;
13. Average cost per sale
14. Average number of times a customer buys
15. Lifetime value of a customer
16. Sales per employee - average
17. Sales per day, week, month
1 8 . S a l e s p e r s p e c i c p r o d u c t o r s e r v i c e ^ \
19. Average size of up - sell or cross-sell
20. Average number of referrals received
21. Average sales per square foot - retail
22. Return-On-Investment (ROI) - return on money working in the business
23. Return-On-Equity (ROE) - return on owner's equity in the business
24. Return-On-Sales (ROS) - net prot from sales after all expenses
25. Amount of receivables and how long outstanding
26. Amount of payables and when due
27. Amount of money in the bank
28. Amount of money drawn down on Line-of-Credit
29. Amount of debt in total owed by the business
30. General trend of key numbers
31. Number of orders for future fulllment
32. Number and size of bad debts, past due payments
33. Your "Economic Denominator," your most important number
GENERATE GREAT NUMBERS
Your ability to focus on certain numbers in your business can change
your results.
1. What are the three most important numbers you watch in your
business?
1)
2)
3 ) ;
2. What three numbers give you the best idea of the health of your 1
business?
1)
2)
3)
3. What are your primary sources and costs of leads?
1)
2)
3)
4. What percentage of leads or prospects actually buy?
5. What is your average size of sale?
6. What is your average gross prot on sales?
7. What are the average costs of each sale?
8. What is your average real prot on sales and operations?
9. How often does your typical customer buy from you?
v 10. What is your "Economic Denominator/' - the one number that best
measures the health of your business?
What action are you going to take immediately as a result of your
Analyze and
identify your most
protable products
and services
vACY-'STOTAL BUSINESS MASTERY
r
NOTES
A prot is a "gain, reward, increment of value" in a business or activity.
Your goal is to organize your business to achieve the greatest possible
prot or return from your investment of time or money.
1. What are your most protable products/services?
1)
2)
3)
2. What are your least protable products/services?
1)
2)
3)
3. What are your most protable tasks and activities?
1)
2)
3)
4. What are your least protable/productive tasks, and activities?
1 ) :
2)
3)
5. What are your most protable marketing and sales activities?
1)
2)
3)
6. What are your least productive/protable sales and marketing
activities?
1)
2)
3)
7. Who are your most protable people, those whose contributions are
the most valuable?
1)
2)
3)
8. Who are your least protable people, those who contribute very little?
1)
2)
3)
9. What personal work activities give you the greatest pleasure and
satisfaction?
1)
2)
3)
10. What sort of personal work activities give you very little pleasure or
satisfaction?
1)
2)
3)
answers to the above?
136
GENEStATi GEtEM Ml
**S
1. Focus on Financial Results: (B>PGS)
2. Budget For Your Business: (B>EGS)
3. Managing Your Information: (B>PGS)
search window.
Leadership
Business Success
Sales
Sales Management
(SM>SMGS)
Personal Success
137
S
138
**%
" * %
[ Z 1 - 0 / W 9 1 ) " A 0 D J 1 U D ! J 9 j u o j s s j u j j e d u s h u m e i j i | n o i | i | M e s o d j n d a u d j o j u j j o j a u d w p a o n p o j d e j e q i o u A o w ' j o a i e i | | s | J D d j o ' s | u s | u o d e i j j _ ' p e A j e s e j s i u ^ u | | y v t o o j j ^ U D u g
d 9 3 ) j p u e p e j u v
9 u o i s s d s
I
i s s e u i s n g 1 B 9 J 9 b p i m a
s n
S . A 3 B J X U B U
- ! f - j , . * w . | . n . - m , ' . , : . J ^ t . ^ . l . - r ' t u - - r i l - M * .
I S S 3 N I S D 9 ! V 3 a O V a i l D 9 I A a d l S V W S S 3 N I S 0 9 W l O i S . A D V a l N V I H 8
BRIAN TRACY'S TOTAL BUSINESS MASTERY I BUILD A GREAT BUSINESS)
Attract a
Your success in business
will be determined
by the people who
work for you more
than any other factor
NOTES
141
r
Attract and Keep Great People
^
<r*
i. All work is done by teams
2. The managers'work is the work of
the team
3. Success requires excellent
performance of each team member
4. The best businesses have the best
people
IAN TRACY'S TOTAL BUSINESS MASTERY
MOTS
Determine Your Hourly Rate
Divide your
annual income
by 2000 to calculate
your hourly rate
(Ex: $100,000 -r 2000 = $50 p/h)
^M
>ACY'STOTAt BUSINESS '
Delegate everything that
anyone else can do at a lower
hourly rate than you earn.
Free up every minute
possible for doing those
things that only you can do.
BRIAN TRACY'S TOTAL BUSINESS
NOTES
uDo what you do best;
delegate or discontinue
the rest."
iiatdoyoudo best?
. RACY' STOTAl BU.
y^V J. S'
Your ability to nd
and hire the right
people is the key to
leveraging and
multiplying yourself
NOT
3rian Tracy. All rights reserved. The contents, or parts thereof, may not be reproduced in any form for any purpose without the written permission of Brian Tracy. [TBM/G-12]
147
r
r
r
*
< ' 0 *
w
* :
&*
f
How To Hire
i. Selection is 95% of success
2. Never hire as a solution to a
problem
Poor hiring is very expensive
(3-6 times annual income)
BRIAN TRACY'S TOTAL BUSIMF55 MASTERY
NOTES
4. Thinkthrough the job
a) Results expected?
b) Skills required?
c) Personality attributes
necessary?
.ACY'S TOTAL BUS'
5. Write out the job
description - idealize!
(as much detail as possible)
6. Casta wide net-tell others
NOTES
Interviewing process:
a) Look for achievement
history
)) Sense of urgency
c) Intelligent questions
d) Rule of 3
NOTES
ATTRACT AMD KEEP GREAT PEOPLE
1. Determine your hourly rate by dividing your annual income by 2000:
2. What are the three activities that pay you your hourly rate or more?
1)
2)
3 ) :
3. If you could only do three things all day long, what three things would
they be?
1)
2)
3)
4. In what three areas are you excellent at what you do?
1)
2)
3)
# i \
j0p*\
/ 0^\
5. In what three areas are you average or not very good?
1)
2)
3)
6. What three tasks or activities at work do you enjoy the most?
1)
2)
3)
7. What three tasks or activities do you enjoy the least?
1 ) .
2)
3)
8. What three jobs or activities should you hire someone else to do?
1)
2)
3)
9. If you hire excellent people to do certain jobs, what specic people
would you hire?
1)
2)
3)
10. Who are you going to hire, assign, delegate or replace immediately,
so that you can concentrate on your top tasks?
1)
2 ) _ _
3)
a n s w e r s t o t h e s e q u e s t i o n s ? ;
155
^ \
ATTRACT, KEEP AND DEVELOP GREAT PEOPLE
1. Superior Selection Skills: (SM>SMGS)
2. Building Peak Performance Teams: (SM>SMGS)
3. A Great Place to Work: (SM>SMGS)
(www.bizgrowthstxategies.com) and type in the name of the lesson in the
search window.
j f p \
Leadership
Business Success
Sales
Sales Management
(SM>SMGS)
Personal Success
156
!"*5%
Your ability to sell
your product or service
and to get payment
is the key to your
business future
NOTES
i. The #1 reason for business
success is "high sales"
2. The #1 reason for business
failure is "low sales"
3. "Nothing happens until a sale
takes place"
4. Your primary job is to "create
and keep a customer"
'5 TOTAL BUSINE5
NOTES
i. Consistently converts prospects
into customers
2. Creates a "great buying
experience"
3. Sets the stage for resales
4. Generates recommendations and
referrals
NOTES
0 # m
i. Prospecting
> 2. Establishing rapport and
trust
3. Identifying needs accurately
4. Presenting persuasively
L BU5INE55 MAS1
NOTES
5. Answering objections
effectively
6. Closing the Sale-
consistently
7. Getting resales and referrals
NOTES
163
PERFECT A GREAT SALES PROCESS
S SKILLS ANALYSIS
KEY RESULT AREAS IN SELLING
1. Prospecting -1 develop a steady stream of qualied prospects so I
always have more people to see than I have time.
GRADE 1
2 3 4 5 6 7 8 9 10
2. Building Rapport and Trust -1 quickly and easily build excellent
relationships with my prospects.
GRADE 1 2 3
4 5 6 7 8 9 10
3. Need/Problem Identication -1 ask excellent questions that enable me
to identify the true needs of my prospects.
GRADE
1 2 3 4
5 6 7 8 9 10
4. Presentation Skills -1 present my product/service clearly so that my
prospect quickly realizes that what I sell is the ideal product/service for
him or her.
GRADE
1 2 3 4
5 6 7 8 9 10
5. Answering Objections -1 have well developed answers and responses
for most customer objections.
GRADE 1 2 3 4 5 6 7
8 9 10
! ^ ^
6. Closing the Sale -1 close each sale smoothly and in a timely fashion.
GRADE
8 10 |
7. Resales and Referrals -1 get a steady stream of repeat sales and
referrals from my customers.
GRADE 1 2 3 4 5
6 7 8 9
10
Strongest area?.
Weakest area?
* * %
Action Commitment:
^
J0I^\
PERFECT A GREAT SALES PROCESS
Sales is the heartbeat of your business, the oxygen to the brain of your
nancial future.
Fortunately, all sales skills are learnable - with instruction, practice and
repetition.
1. Prospecting: who are the ideal customers for what you sell?
1)
2)
3)
2. A good prospect has four qualities. What are they for your best
prospect?
1) Problem unsolved?
2) Need unsatised?
3) Goal unachieved?
4) Pain to be taken away?
3. Trust and credibility are the "heart" of the sale. What do you do to
build trust with prospects?
1)
2)
3)
4. Identifying needs accurately: What specic needs, wants of your
ideal customer does your product or service satisfy?
1 ) .
2)
3 ) .
5. What is the most pressing, important need that a customer has that
wo u l d c a u s e h i m/ h e r t o b u y y o u r p r o d u c t ? * * * )
1 ) _
2 ) .
3)
6. Presenting persuasively - what are the three most important elements
in persuading a prospect to buy from you?
1)
2 ) .
3)
7. Answering objections effectively: What are the three most common
objections you get as reasons for not buying?
1)
2)
3)
8. Why don't qualied prospects buy your product?
1)
2)
3)
C 9. Why do your prospects buy from your competitors?
1)
2)
3)
10. What must a prospect be convinced of to buy your product from you?
1)
2)
3)
11. People only buy one thing: improvement.
What specically does your product or service do to improve the life or
work of your customer?
1)
2)
3)
12. Closing the Sale - what are the three best methods that you use to get
the prospect to take action and to buy from you?
1)
2 ) ,
3)
13. Resales: What three things can you do before and after the sale to get
the customer to buy from you again?
1)
2)
3)
14. What are three ways to follow through after the sale to assure customer
satisfaction?
1)
2)
3 ) ~ >
#*^.
BRIAN TRACY'S TOTAL BUSINESS MASTERY I BUILD A GREAT BUSINESS! ](
What one action are you going to take immediately to create a great
sales process?
170
1. Sales, revenue, cash ow are essential to
the success and growth of your business.
2. There are four ways to increase sales, rev
enue and cash ow:
1. Make more individual sales;
2. Make larger sales to each customer;
3. Increase frequency of purchases from
each customer;
4. Do, offer, sell something completely
different.
3. To increase your sales, revenues, and
cash ow, you must accurately identify
the correct reason why you are not sell
ing enough at the present.
Ask "What else could be the reason?"
after every definition of the problem
until you nd the real reason.
Each denition of the problem suggests
a different solution, and leads you in a
different direction.
4. Initial denition of problem: "Our/my sales are not high enough."
On a scale of 1-10, how would you grade yourself/your company?
Possible reasons for this problem:
1. We do not have enough customers.
What else is the problem?
SCORE
2. Our customers are not buying enough:
3. We are not converting enough prospects into customers:
4. Our advertising and promotion is not attracting enough customers:
5. Our sales are not large enough per customer:
Our customers are not buying frequently enough from us:
We do not have enough salespeople:
8. Our salespeople are not selling enough to our customers:
# * v
BRI AN TRACY' S TOTAL BUSI NESS MASTERY I BUI LD A GREAT BUSI NESS! 171
9. Our salespeople are not trained well enough to sell in a tough,
competitive market:
10. Our customers are buying too much from our competitors:
11. Our competitors are selling too much to our customers:.
12. Our customers perceive greater value and benet from our
competitor's products:
13. Our customers are not aware of how valuable our products can be
to them in comparison with our competitor's offerings:
14. We are not making enough prot on each individual sale:
15. Our costs of making each sale are too high:
16. There is not enough focus on sales and marketing in our
organization:
17. Our products are too expensive in comparison to our
competitor's offerings:
18. Our products are not perceived to be as good as those offered
by our competitors:
19. We do not have a distinct competitive advantage that allows
us to stand out as superior to our competitors:
20. The market has fundamentally changed and the demand for
our product has declined permanently:
21. We will have to create and offer newer and better products and services
if we want to survive in the markets of today and tomorrow:
5. Select the one core problem that could be the major obstacle to your success in today's market "^%
6. Make a list of 5 specic actions you could take immediately to solve this problem or
remove this obstacle:
1.
2.
3 . _
4.
5.
7. Select the one action you are going to take immediately to increase sales, revenues and
cashow:
ASK YOURSELF THE FOLLOWING QUESTIONS:
1. What are my most attractive and protable products/services?
1.
2.
3.
2. What do my customers consider value? Why do they buy from me?
1.
2.
3.
3. What do we do especially well? What is our "area of excellence?" our competitive advantage?
1 . .
2.
3.
4. Is there any product or service that, knowing what we now know, we wouldn't bring it to
the market?
1.
2.
3.
5. If our business burned to the ground and we had to walk across the street and start over,
what products/services would we begin offering again immediately?
1.
2.
3.
6. If we were starting over, what would we not start up again?
1.
2.
3.
7. If we were starting over, who would we not hire, assign, promote, deal with or get
involved with?
1.
2.
3.
What specic actions are you going to take immediately as the result of your answers to
the above questions?
1.
2.
3.
174
PERFECT k GREAT SALES PROCESS
1. Create Your Sales Plan: (B>EGS)
2. High Performance Selling (30 Lessons): (S>SGS)
3. Secrets of Success In Selling: (S>SGS)
fwww.bizgrowthstrategies.com^ and type in the name of the lesson in the
search window.
Leadership
Business Success
Sales
Sales Management
(SM>SMGS)
Personal Success
^
Your level of skill
and experience is
the key factor
in business success
NOTES
177
Become a Great Businessperson
Your outer life and business is
a reection of your inner life -
like a mirror.
Your life only gets better
when you get better.
. ' 0 j t
NOTES
i. Intense, burning desire for success
2. Love the product/service they sell
3. Really care about helping their
customers
4. They are in business for the long
t er m
' ACY' STOT"
NOTES
179
Qualities of Top Businesspeople
5. Highly disciplined, focused
6. Expect to fail over and over
7. Love to sell, promote, persuade
8. They are incredibly persistent
0 0
s
Failure is not an option
BRiAN TRACY'S TOTAL BUSINESS MASTERY
NOTES
BECOME k mm BUSBNESSPEHSON
When you think continually about the best qualities you could develop, you
shape your own personality and become more like your ideal.
1. List three reasons why you want to be successful in your business:
1)
2)
3)
2. List the three things you love most about your product or service:
1 ) .
2)
3)
3. List the three most important benets your customers enjoy from using
your product or service:
1)
2 ) _ _
3)
BRIAN TRACY'S TOTAL BUSINESS MASTERY I BUIID A GREAT BUSINESS! 181
0 0 ^ .
4. What would you like to be doing ve, ten, twenty years from today?
1 ) ;
2)
3)
5. List the three best qualities or disciplines that you practice each day:
1)
2)
3)
j ^ \
6. List the three most important lessons you have learned from failure in the
past:
1)
2 ) ;
3)
7. List the three most important things you do to promote and sell your
product or service:
1)
2)
3)
8. What are the three most important benets you get personally for being
incredibly persistent?
1)
2)
3)
9. What three things are you going to do or change, based on your answers
to the above questions?
1)
2)
3)
# ^ \
BECOME A GREAT BUSINESSPERSON
mmmi skills analysis
KEY RESULT AREAS IN MANAGEMENT
1. Planning -1 have clear, written goals and plans of action for each part
of my business.
GRADE 1 2 3 4 5 6 7 8 9 10
2. Organizing -1 am well organized and capable of bringing together the
#*\ necessary people, money and resources to achieve my business goals.
GRADE
1 2 3 4 5 6 7 8 9 10
3. Stafng -1 am good at nding and hiring the right people to help me
achieve my goals.
GRADE
1 2 3 4 5 6 7 8 9 10
4. Delegating -1 delegate the right jobs to the right people, clearly and
with complete understanding.
GRADE 1
2
3
4 5 6 7 8 9 10
184
5. Supervising -1 regularly inspect what I expect and make sure everyone
is doing their job to the expected standard and on schedule.
GRADE
8
10
6. Measuring -1 set and explain clear measures and standards of
performance and review them regularly.
GRADE 1 2 3
4 5 6 7
8 9 10
7. Reporting -1 report my results clearly and regularly to my
bankers, customers, staff and suppliers, so there is no confusion or
misunderstanding.
GRADE 1 2 3
4 5 6 7
8 9 10
Strongest area?.
Weakest area?
Action Commitment:
185
J P \
BECOME A GREAT BUSINESSPER!
1. Get the Most Out of Yourself: (L>MGS)
2. Pursuit of Personal Excellence: (L>MGS)
3. Seven Secrets of Managerial Success: (L>MGS)
search window.
^ \
Leadership
Business Success
Sales
Sales Management
(SM>SMGS)
Personal Success
186
*<*%,
* " \
Brian Tracy. All rights reserved. The contents, or ports thereof, may not be reproduced in any form for any purpose without the written permission of Brian Tracy. [TBM/G-12]
*
Brian Tracy's
Session 9
Create a Great
Customer
Experience
Brian Tracy
e*.~
How people feel
after they do business
with you determines
if they buy again
5 MASTERY
NOTES
What does it do?
1. Makes the customer happy
2. Builds, maintains loyalty
3. Generates repeat business
BRIAN TRACY"
NOTES
What would have to happen?
What is the most important
thing you could do?
What is the most important
change you could make?
!
NOTES
191
"^
i. You meet expectations
2. You exceed expectations
3. You delight your customers
4. You amaze your customers
BRIAN TRACY'S TOTAl BU5INF5S MASTERY
NOTES
CREATE k GRIM CUSTOMER EXPERfENCE
Fully 80% of the customer experience is determined by how customers feel
after dealing with you. They say, "This is a great company!"
1. Describe your ideal customer, the one you most want and need to be
nappy:
1)
2)
3 ) ;
2. Dene your perfect customer experience; what has to happen to make
your customers happy?
1)
2)
3)
3. What do you offer, or could you offer in terms of the features and
benets of your product or service?
1)
2)
3)
j 0 * i
4. What improvements could you make on the way you deal with and
treat your customers?
1)
2)
3)
5. How could you improve your prices or terms to make your customers
happier?
1)
2)
3)
6. How could you make the customer experience faster, easier, and more
convenient?
1)
2)
3)
7. What three factors does your ideal customer want or value most in
dealing with you?
1)
2)
8. What additional services do you need to offer to satisfy and please
your customers?
1)
2)
3)
9. What are the three minimum expectations your customers have, and
which you have to meet?
1)
2)
3)
10. In what three ways do you, or could you, exceed customer expectations?
1)
2)
3)
11. In what three ways could you do something unexpected to delight your
customers?
1)
2)
3)
BRIAN TRACY'S TOTAL BUSINESS MASTERY I BUILD A GREAT BUSINESS! |95
12. What three things could you do that would amaze your customers?
1)
2)
3)
What one change are you going to make to increase the quality of the
customer experience?
NOTES
The true measure and purpose of a
business is customer satisfaction.
Your business goals are:
i. To get them to buy from you rst
2. To get them to buy again
3. To get them to bring their
friends
!!1
NOTES
"Would you recommend us
to others?"
On a scale of 1-10?
Your score predicts your
future sales.
NOTES
A happy customer i
10X easier to sell to
than a new prospect
takes i/ioth
the time and cost
! ''!'!'!'-". '!
BRIAN TRACY'S TOTAL BUSINB5
NOTES
! ! !
Referral Business
A referral isiox-isx
easiertosell to
than a cold call or
new customer - takes
i/i5th the time/cost
i !
NOTES
Your ability to get resales and referrals from satised customers is the key
to your success.
1. Why do people buy from you in the rst place? (What value do they
seek? Expect? Hope for?)
1)
2)
3 ) :
V 2. What do you do for your customers that no one else can offer?
i ) :
2)
3)
3. If you could wave a magic wand and have your customers describe you
in a particular way, what would you want them to say?
1)
2)
3)
4. What do your customers expect of you to be satised?
1)
2)
3)
5. What do you do to assure that you meet customer expectations?
1)
2)
3)
6. What do you do to exceed customer expectations?
1) .
2)
3)
7. What do you do extra to delight your customers?
1 ) .
2)
3)
# ^
8. What do you do that is special, to amaze your customers?
1)
2 ) .
3)
9. What do you do to get referrals from satised customers today?
1)
2)
3)
10. Why do you especially deserve referrals to new customers?
1)
2)
3)
11. If you could no longer advertise and prospect, what would you do to sell
"by referral only?"
1)
2)
3)
12. What could you start doing immediately to double the number of
referrals you get?
1)
2 ) _ _ _
3)
What one action are you going to take immediately to increase your
referral business?
Brian Tracy. Ail rights reserved. The contents, or parts thereof, may not be reproduced in any form for any purpose without the written permission of Brian Tracy. [TBM/G-12]
Et
1. Serving Your Customer: (B>PGS)
2. The Customer Is Always Right: (L>MGS)
3. Customers For Life: (S>SGS)
search window.
j p ^
Leadership
Business Success
Sales
Sales Management
(SM>SMGS)
Personal Success
206
NOTE
^ ^ \
BriaivTracy's
Oa. ' ^C , ,
Session 10
Live a Great Life
[!- ' !
CSn !
i s-4, !
Presented by
Brian Tracy
The aim and purpose
of working is to enable
you to create a high
quality of life for yourself
and your family
NOTES
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Time Quadrants
URGENT NOT URGENT
KJ71
MPORTANT
NOT
IMPORTANT
1
2
3
4
!
1
NOTES
211
LIVE A GREAT LIFE
1. What are the Urgent and Important activities that take up much of
your day?
1)
2)
3)
2. What are the Not Urgent but Important activities that can have a major
impact on your future?
1)
2)
3)
3. What are the Urgent but Not Important activities that sidetrack you
during the day?
1)
2)
3)
4. What are the activities that are neither Urgent nor Important that you
can eliminate entirely?
i)
2)
3)
5. What specic activities are you going to do more of in Quadrants 1
and 2 to increase your productivity?
1)
2)
3)
6. What activities should you stop doing altogether?
1)
2)
3)
7. What changes are you going to make in your time usage based on the
above?
1)
2)
3)
What one thing are you going to start doing or stop doing immediately?
Achievin
I : !
The Law of the Excluded Alternative
"Doing one thing means not doing
everything else atthat moment."
Practice ''creative abandonment"
Create a unot to do" list
STOTVH. BIT
NOTES
LIVE A GREAT LIFE
1. What three things do you enjoy doing the most when you are
not working?
1)
2)
3)
2. What are your three most enjoyable vacation destinations?
1)
2)
3)
3. If you were forced to take a day off from work, what three things
would you do?
1)
2)
3)
4. What are the most enjoyable leisure time activities you engage in with
your family or friends?
1)
2)
3)
5. How would you spend your time if you only had six months left
to live?
1)
2)
3)
6. If you had $20,000,000 in the bank but only 10 years left to live, what
w o u l d y o u d o d i f f e r e n t l y ? " ^
1 ) .
2)
3)
7. What actions are you going to take immediately to increase your
time off?
1)
2)
3)
"*%
JP?\
What one leisure time activity are you going to plan for right now?
218
" * \
BRIAN TRACY'S TOTAL BUSINESS MASTERY 1 BUILD A GREAT BUSINESS!
Brian Tracy's
Total Business Mastery
9 P0t
Summary
& Wrap up
Decision
Making!
x - :
!
Or**]
5^
ialS9l3ill]
Brian Tracy
220
^ * ^
LI
GMM LIFE
1. Get the Most Out of Yourself: (SM>SMGS)
2. Pursuit of Personal Excellence: (SM>SMGS)
3. Balancing Your Total Life: (SM>SMGS)
search window.
Leadership
Business Success
Sales
Sales Management
(SM>SMGS)
Personal Success
BRIAN TRACY'S TOTAL BUSINESS MASTERY I BUIlD A GREAT BUSINESS!
The most important
part of this day is what
you do afterwards.
Action is Everything.
IAN TRACY'
NOTES
DECISION-MAKINGS
1. What one change are you going to make in your work?
2. What one change are you going to make in your family life?
3. What one change are you going to make in your nancial affairs?
4. What one change are you going to make in your health and tness
activities?
5. What one subject are you going to learn or improve in?
^
6. What one activity are you going to engage in in your social and
community life?
7. What one activity are you going to engage in to improve your
spiritual life?
What one thing are you going to do rst?
224
OTES
-**^.
225
TOTAL BUSINESS AAASTERY
Name:
Date:
We would appreciate your cooperation in helping us to improve this program
by sharing your opinions and suggestions with us.
What is your overall evaluation of this program? (Please mark with an x)
E X C E L L E N T G O O D F A I R P O O R
20
19 18 17 16 15 14 13 12 11 10 8 6 5
Why did you rate it this way?.
What ONE idea will you apply immediately as a result of this program?.
Which guest speaker provided the most value to you?
Of the sessions Brian taught, what specic topic did you like the most? (Choose one only)
JP^N
O Become a Great Leader
O Offer a Great Product or Service
O Design a Great Business Plan
O Create a Great Marketing Plan
O Generate Great Numbers
O Attract and Keep Great People
O Perfect a Great Sales Process
O Become a Great Businessperson
O Create a Great Customer Experience
O Live a Great Life
Are there any topics that were not covered that you would have liked Brian to talk about?
Do you feel that you received the intended value for what you paid for the seminar? !'
O Y E S O N O
If no, what would have made your experience more valuable?
Why did you decide to attend this program?
What improvements would you suggest for future events?
Please list anyone you know who would be interested in attending this program:
N a m e : C o m p a n y :
E m a i l : P h o n e :
N a m e : . C o m p a n y :
N a m e : C o m p a n y :
THANK YOU!
Your feedback is greatly appreciated!
Brian Tracy- All rights reserved. The contents, or parts thereof, may not be reproduced in any form for any purpose without the written permission of Brian Tracy. [TBM/G-12]
227
DATE
# GOAL OR ACTION
COMPLETION DATE
2
3
5
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8
10
12
13
14
15
16
17
18
19
20
228
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0
I BRI AN TRACY' S TOTAL BUSI NESS MASTERY I BUI LD A GREAT BUSI NESS!
BUSINESS PLANNING FOR SOLID GROWTH
1 here are several indispensable nancial tools which every business
. must have. The attention to the detail of developing these tools on an
ongoing basis often makes the critical difference between prots and losses,
growth and decline, success and failure.
The Business Plan Your Blueprint for Success
The business plan is as essential to business success as a blueprint would be
in the construction of a building.
Lack of a clear, detailed business plan leads to a lack of direction, inaccura
cies, confusion and wasted resources. The existence of a plan, and the pro
cess of developing it, contributes to clarity of focus, teamwork, organized
effort and prot growth.
A Business Plan Consists of the Following Ingredients:
Mission Statement
- A statement of your overall objective or goal, your reason for being in
business, what you want to accomplish, achieve, and preserve.
Strategic Objectives
4 The goals you must accomplish to reach your overall objective.
Tactical Objectives
The activities you must engage in to accomplish your strategic objec
tives, in order of priority.
Strategic Variables
A) Product Policy
Characteristics, design, mix of products/services offered.
B) Customer Policy
Specic types and characteristics of customers to whom
products and services will be offered.
C) Distribution/Promotion Policy
I How do you move your products to the end user?
Advertising, sales, outlets, locations, delivery, etc.
D) Competitive Emphasis
I What do we do better than our competitors?
Where can we develop excellence?
E) Pricing Policy
! How do we charge for our products or services?
! Consider discounts, quantity purchases, commissions, etc.
F) Financing Policy
! Where and how to obtain short-term and long-term capital?
! Personal assets, friends, banks and investors.
G) Investment Policy
! How to allocate available funds.
! Product Development
Research
Sales Promotion
Facilities
H) Also, Divestment Policy
! How do you decide what to get out of, sell off, or discontinue?
JP*N.
/ Jp*N
Guide to Preparing a Business Plan
Table of Contents
EXECUTIVE SUMMARY
SECTION 1.0 The Concepts
SECTION 2.0 Objectives
SECTION 3.0 Market Analysis
3.1 General description of the entire marketplace, for
the product or service
3.2 Precise description of segment(s) to be pursued
3.3 Description of intermediate inuences on buyers
such as dealers, distributors, sales representatives,
associates, etc.
3.4 Competitive Conditions Present and anticipated
3.5 Pricing Conditions Present and anticipated
3.6 Governmental Influences Present and anticipated
3.7 History of similar products, services, or businesses
3.8 Break-even point estimates, i.e.; How many units
and/or how much of the market has to be sold to
cover costs?
SECTION 4.0 Production
4.1 Equipment Requirements
4.2 Facility Requirements
4.3 Raw Material, Labor and Supplies Requirements
and Sources
4.4 Quality Control, Packaging, Transportation, etc.;
Requirements and Sources
4.5 Program for Initial Time Period
4.6 Schedule Who is to do what, by when (Exhibit)
4.7 Budget (Exhibit)
4 . 8 R e s u l t s E x p e c t e d ( E x h i b i t ) * * %
4.9 Contingency Plans
SECTION 5.0 Marketing
5.1 Method(s) of Selling and Advertising to be
Employed
5.2 Product of Service Features and Benets to be
Emphasized
5.3 Program for Initial Time Period
5.4 Schedule Who is to do what, by when (Exhibit)
5.6 Results Expected (Exhibit)
SECTION 6.0 Organization and People
6.1 Who is accountable for whom, for what.
Structure (Exhibit)
6.2 Stafng Program for Initial Time Period
6.3 Schedule (Exhibit)
6.5 Results Expected (e.g., brief position description)
SECTION 7.0 Funds Flow and Financial Projections
7.1 Complete statement of expected sales and expenses
for the next sales period (Exhibit)
7.2 Pro forma Prot and Loss Statements (Exhibit)
7.3 Pro forma Balance Sheets
7.4 Program for Monitoring and Controlling Funds
With People and Systems Included in the
Organization Planning
SECTION 8.0 Ownership
8.1 Summary of Funding Requirements
8.2 Form of Business Partnership, Corporation, etc.
8.3 Program for Raising Equity and/or Deft Money
required, if any
8.4 Projected Returns to Investors
Note: If technology is an important ingredient in the success
of the enterprise, a separate section, Technology, should be
included in the Business Plan. Such a section would include
details on stafng and methods of inquiry and testing as well
as schedules, budgets, results expected, and contingency plans.
A section on Technology would normally be inserted after
Section 5.0, Marketing.
Developing Pro Formas for Financial Analysis
Every business decision is based on a consideration of the costs and risks
compared with the potential gains.
Every allocation of funds must be preceded by an analysis of possible re
turns on those funds. The basic Pro Forma must be developed before an
informed or intelligent opinion can be reached.
The pro forma becomes the basis of the business budget and is a critical
tool for managing the enterprise.
The Business Budget Consists of the Following Information:
l
Estimated Gross Revenues
The dollar value in total of your product or service that you reasonably
expect to sell in a given period (month, year).
" * %
2
Total Expenses
Every single cost to you of providing the product or service to the
market; for example:
! Cost of goods sold (wholesale cost plus freight)
! Salaries and wages
! Rent and utilities
! Office supplies and equipment
! Accounting and legal
! Advertising and promotion
! Telephone and postage
! Printing and stationery
! Travel and automotive
! Insurance, taxes and licenses
! Interest and bank charges
! Other and miscellaneous
Net Revenues or Losses
The gure you arrive at when you subtract total expenses from gross
revenues.
Return on Investment
Expressed as a percentage calculated by dividing net revenues into
total costs.
This tells you what your return will be, allowing you to compare it
with other investments to evaluate risk and return.
Risk Factor
Always present the probability that you will not achieve the return
projected. The business of business is to maximize prot and minimize
risk.
This is accomplished by:
A) Careful and complete market analysis to assure accurate estimate
of gross revenues;
Most businesses fail on this account.
B) Careful and complete strategic and market planning.
C) Careful and complete budgeting and cost control.
D) Focus on results throughout the business.
j ff^V
6
Protability
This must be compared with all other business opportunities available
to determine whether this business, product or service, represents the
very highest and best use of your time and money.
Example - Widget Company
G r o s s R e v e n u e s $ 1 0 0 , 0 0 0 . 0 0
Less: Tot al Expense (90, 000. 00)
Net Revenues (or Losses) $10,000.00
Ret ur n on I nvest ment ( ROI ) 11 %
The budgeting process should be done for each month,
12 to 18 months ahead to arrive at an annual operating budget
and nancial plan.
This nancial plan, taking seasonal uctuations of business into ac
count, will be the most important document required by your bank or
other lenders.
! Strive for maximum accuracy in every calculation.
! Check and re-check; be prepared to back up your figures.
! Be conservative in estimating your revenues;
liberal in estimating your expenses.
Yearly, Monthly, Weekly Sales Projections
Annual Sales Volume (Estimated)
Monthly Sales Volume (Divide by 12)
Weekly Sales Volume (Divide by 52)
Daily Sales Volume
Banker's First Loan Requirement Cash Flow Projections
Your cash ow projections are calculated by preparing a pro forma budget
for each month for 12 - 18 months ahead.
At the end of each month, especially with seasonal uctuations, you should
have a prot or a loss.
These prots or losses are accumulated along the bottom to indicate when
you will have cash surplus and when you will need cash inows.
Your maximum line-of-credit request to your banker will be determined by
the lowest point in your business cycle.
Your ability to analyze your business objectively and project your cash
requirements accurately will have a major impact on your business success.
Basic Rule: In business start-ups, you should double or triple the estimated
time period between commencing business and positive cash ow. Over-
optimism in this area is a major cause of business failure and often an indi
cator of managerial incompetence.
Break-Even Analysis Getting into "The Black"
A business "breaks even" when the total revenues from sales are sufcient
to cover all the costs associated with making the sales, including costs of
goods sold, administration, advertising, overhead, interest, salaries, com
missions, etc.
BUSINESS PLAN TEMPLATE
"Failing to plan is planning to fail." (Brian Tracy)
"If you don't know where you're going, any road will take you there."
(The Mad Hatter in Lewis Carroll's Alice in Wonderland)
There are a lot of Mad Hatters living in a form of "Wonderland" who are
trying to build successful businesses. Be sure that you are NOT one of
them.
Your ability to decide what you want to accomplish in every area of your
business and personal life will dramatically increase your results and re
wards.
When you make clear, written plans with measurable standards and sched
ules, you increase your probabilities of success many times over the person
who is vague or unsure.
In this lesson you will learn:
! How to determine what you really want in life
! The key steps to creating your business plan
! The importance of your values, vision, mission and purpose
! What you must do to achieve business success
The purpose of your business life is to enable you to enjoy your personal
life. Fully 85% of your happiness will come from your relationships with
other people; only 15% will come from external achievement.
"The man who knows both himself and his enemy
will be victorious in a hundred battles." (Sun Tzu)
Decide exactly what you really want in life.
1) What are your personal values? What are your business values?
Personal Values? Business Values?
1. 1.
2. 2.
3. 3.
2) What are your three most important goals in life, right now?
3) What would you do immediately if you learned today that you
had just won $20,000,000?
1.
2.
3.
4) What would you do, how would you spend your time, if you
learned today that you only had six months to live?
1.
2.
3.
5) What have you always wanted to do but been afraid
to attempt?
1.
2.
3.
6) What sort of activities give you the greatest sense of fulllment,
satisfaction and self-esteem?
7) What one great thing would you dare to dream if you knew you
could not fail?
Strategic and Business Planning
1) VISION - if your business was perfect sometime in the future,
how would you describe it?
2) PURPOSE - why have you decided to get into this particular
business?
a.
b.
c.
3) MISSION STATEMENT-describe what kind of a company
you plan to be in the future, based on serving and satisfying other
people in some way.
Start with the words, "Our mission is to ..."
^ Develop a strategic plan for your business.
s This plan is composed of the following parts:
1. Your vision, purpose and mission statement.
2. Your goals and objectives.
3. Market analysis.
4. Production and products.
5. Marketing strategy.
6. Organization structure and people.
7. Funds ow and nancial projections.
Determine your strategic business goals.
What are your sales and revenue goals for the future?
Year Sales
Prots
Analyze your market thoroughly before you begin business
operations.
1) What is the size of the current market for your product
or service?
Determine your selection and mix of products and services.
1) What are the three most important products/services you offer
in your market?
2) What are the three most important services you offer to your
customers?
3) What are the three most important considerations or problems in
creating, acquiring or producing your products or services?
4) What are the essential people, equipment and resources
you need to produce or acquire your most important products
or services?
Determine exactly how you market and sell the quantity of
products or services you described in "C."
1) What methods of advertising and promotion do you use to
attract customers?
2) What benets or competitive advantages do you emphasize in
your marketing?
3) How do you sell and take orders for your product or service?
4) What is your budget and expected sales from your advertising
and sales activities?
a. Budget? $
b. Expected sales? $
c. Schedule and timelines?
Decide upon your organizational structure and the essential jobs
to be done in each area.
1) List the three most important functions or jobs in sales
and marketing.
2) List the three most important functions or jobs in the production,
or acquisition, of your products or services.
3) List the three most important functions or jobs in the management
and administration of your business.
You must provide for the funds you need to operate your
business successfully.
1) List your three primary sources of funding.
/ ^ ^
253
2) Describe your expected sales and expenses month-by-month for
the next 12 months.
Example*:
Month
January February
March Totals
Sales
$100,000 $150,000
$200,000 $450,000
Less cost of goods
$25,000 $37,500 $50,000 $112,500
Expenses
$75,000 $85,000
$100,000 $260,000
Misc.
$10,000 $15,000 $20,000
$45,000
Total
($110,000) ($137,500) ($170,000)
$417,500
Prot (loss)
($10,000)
$12,500 $30,000 $42,500
Cumulative
($10,000) $2,500 $32,500 $42,500
* This is a simple example of a prot and loss statement. In re
ality, you should detail all items in "expenses," and create this
statement for the next 12-18 months.
3) Who is responsible for the accounting and bookkeeping
functions?
a.
b.
c.
Your ability to ask and answer these questions will give you an outline of
the key issues you must address in the development of your business plan.
Failure to think through, understand and make plans in any of these
areas can lead to business failure.
Action Exercises
IWhat business are you really in? What does your product/service
achieve, avoid or oreserve for vour customers?
Who is your ideal customer? Describe the three most important
characteristics he/she would have.
What does your ideal customer consider value? Why would he/she
buy from you?
What is it that you do especially well, better than 90% of
your competitors?
What are your three most important business goals right now?
What one action are you going to take immediately as the result of your
answers to the questions in this lesson?
257
258
s*S
259
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260
261
TES
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262
OTES
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264
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266
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BRIAN TRACY'S TOTAL BUSINESS MASTERY I BUILD A GREAT BUSINESS!

1. What exactly do you sell - dened in terms of what your product/service

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