's Business Profile
On a scale of 1 to 10 (with 10 being the ‘best), how would you rate your current ENERGY levels in terms of your own mindset, focus, momentum and action?
When you started with us, did you have a personal brand, a company brand or both?
Has this changed since then and what is it now, a personal brand, a company brand or both?
Do you think your logo is legible and professional?
If you have a website, does the URL exactly match your company name?
What is the URL?
Do you have a professional email signature?
Do you have a professional email address, in other words, not a gmail email address as an example?
What is your work title (I am a Conversion Optimisation Specialist)?
Have you always used this title or is it new since joining us?
What is your purpose?
What is your Vision?
Become a recognized Business Profit Strategist (By 30 June 2021) -> Your purpose is your advantage
What is your 1st Primary Goal?
Build my profile with existing clients (show them the journey to sustainable long term profitability) - Testing and Testimonials as an outcome
What is your 1st Objective for this Goal?
My 1st objective to achieve this goal is to document a clear process for creating a business profit strategy (BPS) for any client
What is your 2nd Objective for this Goal?
To demonstrate the value of implementing a BPS to existing clients
What is your 3rd Objective for this Goal?
To collaborate with my existing clients and implement a practical BPS in their businesses
What is your 2nd Primary Goal?
Build my profile for new ideal clients
What is your 1st Objective for this Goal?
My 1st objective to achieve this goal is to identify my ideal client
What is your 2nd Objective for this Goal?
To connect with new ideal clients
What is your 3rd Objective for this Goal?
To relate real life success stories of how a BPS actually worked for business owners
What is your 3rd Primary Goal?
Gather an ideal client base
What is your 1st Objective for this Goal?
To have a prospecting approach / plan
What is your 2nd Objective for this Goal?
To have a compelling why the new client should use me
What is your 3rd Objective for this Goal?
To use testimonials from my best clients
Write your Value Proposition below as per the formula in Principle 4
We help Medical Practice Owners in Johannesburg with an Accounting Specialist at their side, so that they can get on with their business, without having to worry about their accounting costing them money and focus
Do you believe it is appealing? And why so?
Do you believe it is exclusive? And why so?
Do you believe it is clear and simple to understand? And why so?
Do you believe it is credible? And why so?
List all the ‘Elements of Value’ your product offers
Provides hope
Self actualization
Reduces anxiety
Rewards me
Saves time
Simplifies
*Makes money
*Reduces risk
*Organizes
*Quality***
Write one case study of something you have achieved with a customer
A customer was paying a vendor within 30 days, but only getting paid by their client within 90 days. I pointed out that despite a markup, she was losing out on cash flow because of the interest she was losing on debtors until they paid. I recommended that her margin needed to include the cost of financing.
As a basic process, the customer monitors debtors and creditors ageing to ensure that any overdue amounts are followed up.
Managing cash flow starts with reliable numbers. This implies that compliance is ticked. This means no unnecessary drain on cash due to penalties imposed and the cost of missed opportunities. Cash flow trends can be plotted and cash flow forecasts can be made. With this bridging finance lines can be arranged in advance should they be needed in a hurry.
What features does your product have?
– Plugs into the accounting system
– User friendly for non accountants
– Template based
– Determines cash flow trends
– Forecasts cash flow
– Monthly meeting to discuss cash flow
What benefits does you product offer?
Authority – 3 benefits for each feature (functional/dimensionalized/emotional)
– Plugs into the accounting system
> Avoid the time consuming hassle of trial and error with an untested plugin
– User friendly for non accountants
> Easy to understand including graphical views without confusing jargon
– Template based
> Quicker to grasp over time with standardised information inputs making it replicatable3
– Determines cash flow trends
> Understand when and your significant cash flows take place and opportunities to manage them
– Forecasts cash flow
> Have a sense of comfort that you understand the risks to specific cash flows and have minimized surprises on future cash flow needs.
– Monthly meeting to discuss cash flow
> Learn from an expert who understands your business to interpret and make decisions that affect your business future success
What does it mean to me?
– No surprise cash flow squeezes like not having cash to pay staff or suppliers
What do I think of it?
– Structured and certainty
How does it make me feel?
– Don’t have to worry, feel at ease with a better sense of certainty
What senses does it evoke?
– Comfort, assurance, confidence, relief
List 3 objections you get to your product and the 3 answers to these objections
1. Too expensive?
It is unwise to pay too much, but it is worse to pay too little money and that is all. When you pay too little you sometimes lose everything. What is the cost of peace of mind because you have cash flow processes tested and work in your business.
2. Why must I trust you?
Feel free to read my testimonials. I guarantee that you will have better cash flow management implemented or your money back.
3. Why your service when there are so many other accountants doing the same thing?
I am a specialist and advisor in cash flow strategy showing the client what the risks and opportunities there are and giving them expert recommendations to give them certainty and taking away their worry on their cashflow.
I have no quarrel with those that sell for less. They know what their stuff is worth.
John Ruskin
Name one of your products
The Advanced BPS Plan (Business Profit Strategy)
List 3 problems you believe your prospects have, related to your solutions
1. They are anxious because they don’t have a good feel that they are sustainably cash flow positive
2. They are generating cash, but don’t think that they are utilizing the spare cash properly
3. They are showing profits, but it’s not showing in positive cash flow
Do you solve my problems and give me value
Perceived benefit – Perceived cost = Perceived value
Create emotional need and want to buy your product – core problems and present solution for it with elements of value
Change
Outcome
Result
Transformation
List your 3 solutions to their problems above
1. Map out your regular cash inflows and outflows to get a feel of monthly cash flow. Plan in managing the ageing of your accounts payable and receivable, payroll, VAT and Income Tax payments. Include cash flow plans in your forecast.
2. Look at investment options to get the highest return on idle cash, including new projects, dividend declaration etc.
3. Determine if cause is business growth or cash management process, e.g. ageing period of debtors matched with ageing period of creditors. Determine if owner is paying themself
Write a detailed spec on your ideal customer (as much info as possible as per the Prospect Principle)
Demographic: (Age, gender, location, education, income, marital status, occupation)
– Corporate business owners male and female, 25 to 55 years
Geographic:
– Johannesburg within 15km radius
Psychographic: (social standing, lifestyle, personality traits, activities, interests, opinions, values and attitude)
– Disciplined, structured approach to change, pragmatic, respects value a specialist can bring, down to earth, methodical, family person, EQ savvy, values good admin
Behaviour: (Purchasing behaviour, benefits sought, customer journey stage, usage based, occasion or timing, customer satisfaction, customer loyalty, interest based, engagement level, user status)
– regular customers, open to discussion, contactable, reciprocal, refers me for leads, willing to pay for value, straightforward, candid
What is their true deep desire?
Wants vs desires
CORT – change, outcome, result, transformation -> 5 whys
People want to gain, be, do, save, avoid
Gain profitability, financial management
Be financially sound, compliant
Save time, taxes, worry
Avoid costs, inconvenience, uncertainty
Have you optimised your pricing according to the pricing tactics and strategies and what is your pricing for your services or products?
3 different packages:
The Big Makhulu Business Transformation Package
The IsiKhulu Business Reporting Package
The Totsi Business Compliance Package
Normally charge R1995 and R995, but for a smaller R2290 fee you can have them both together
OR
Normally charge R5995 for the once off job, but will charge a smaller fee of R2995 if we enter into a monthly retainer for value added services
Give a price and the value received to alleviate the pain.
Life Time Value: Higher fee, but a money back guarantee if not happy
Life Time Value: No / low fee for the first month / project with normal fee thereafter if happy
Where do you currently do paid for advertising, list all the platforms or channels e.g. facebook, local newspaper etc
Not applicable
How much do you typically spend on advertising per month?
R500 p.m.
Do you belong to any business network e.g. BNI, Chamber of Commerce?
Not applicable
What metrics are you measuring monthly?
Turnover month to month
Profit and loss
Billable vs non billable time allocations
Number of customers
What KPIs do you have for yourself?
Monthly targets for the following:
Turnover
Profit and loss
Billable vs non billable time allocations
Leads per month
What is your Average Order Value (AOV)
R2100
What is your Customer Lifetime Value (Average Lifetime Order Value)
R23600
What is your Cost of Acquisition (COA)
R570