Millionaire Phenomena - Business: JON GIAAN (continued) sometimes a lot worse). According to Harv T. Eker (who’s built several businesses from zero and sold them for millions of dollars) a definition of a system is...a repeatable process that produces a profit. Once you have a repeatable process in place, you can expand your business activity...and you wealth. The 3 areas you must systemise are... • Sales and marketing • Supply and production of products or services • Administration and accounts In each of these areas you must create a repeatable system which manages the operations of each of these 3 areas. Of course, the most important one to get right first is sales and marketing. How come? Well, simply because if you can’t sell your products or services at a nice profit - you won’t need the other 2 departments, will you? The idea behind developing these systems is to create a money making machine. A machine that just turns over making you money whether you are there or not. No matter how good you are, if the business is dependant on your constant input, there is a limit to how much you can do, and the profits you can make in that business. Just like a coach in a football team, you cannot both play and steer the team to victory. If you are playing, you are not observing your team’s (and your opponents’) performance. To coach your team to victory, you must be the one directing your team - or your business. Do it right and this system actually runs your business for you, so that you can go on a holiday with the family, take a day off to play golf, go fishing or whatever else you like doing. The system gives you freedom to do as you like, instead of letting the business run you.
Freedom Step #6: Keep Doing What Works Don’t forget anything that’s working for you until
you’ve got something better to replace it with. The way you make money in business is to keep repeating the same process over and over again according to the system you have developed. Because of my ability to write effective ads and market just about anything, I often make the mistake of jumping from one project to the next. What this does is create a lot of work because each time you start something new, you have to go through the whole process again. You have set your goals, test your ideas, develop them, market them and systemise the whole process for every new project or business. This is a lot of work. . What you want to do is duplicate what works. Duplicate what makes you a profit. If you send 100 letters and get 10 sales, to make $1,000 sales you simply have to send out 10,000 letters. If a restaurant makes a good profit in one location, you simply have to find similar locations and the restaurants there will also show a profit (a system many franchises use.) If you make a profit with one salesperson selling your products, to make more, you need to hire other sales people to get more sales. And so it goes. That’s exactly what the McDonald’s hamburger chain did. They turned a single restaurant into a money machine. It all started when a milk shake cup salesman called Ray Kroc became fascinated by the fact that a small restaurant owned by the McDonald brothers bought so many shake cups and blenders. So he bought the rights to ‘duplicate’ their operation (money machine) in other locations. His idea started a while new way of creating wealth, called ‘franchising’. The same goes for many other businesses and product distribution systems. Even a home based entrepreneur who has a market stall and makes $500 for 1-2 days work can duplicate the same stall at other locations. Mail order, or direct response marketing, works in the same way. Once you have a successful ad you simply run it more often and in more publications to make more money. And why stop with Australia. You can do this in most English speaking countries, the USA, England, India, Canada, New Zealand. All it’ll take is one or two test ads and if successful, you have a world wide operation.
Freedom Step #7:
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