With 2009 coming to a close, it’s important to get an idea of what you’ll need in 2010 for your business to stand out, and for your income to be higher and more stable than ever before.

Of course, you may want to forget 2009 as fast as possible. After all, if you came up well short of your expectations, you may want to put the last year in a paper sack and burn it.

But, as they say – those that fail to learn from history are doomed to repeat it. And being a former history teacher, it’s essential that we pay attention.

So there are 3 things that your business will need. But before I share those with you, let’s learn…

The lessons of 2009

  1. Businesses that succeeded in 2009 were based on trust, longevity, and personal branding. And those that abused our trust failed and may never recover.
  2. Businesses that succeeded in 2009 provided real solutions to real problems. Instead of focusing on sucking money out of somebody else’s purse, those that remain connected with their customers in meaningful ways.
  3. Cheating is not a viable strategy. Bernie, Tiger, Sanford… Corporate fat-cats, politicians, athletes, celebrities made the headlines because of back-room shenanigans and bedroom infidelities. They were caught and their reputations are forever tarnished.
  4. Simplicity rules. Those that focused on a narrow but significant problem and provided a simple, easy to implement solution won. In my own business, my most successful products were my most basic. And my most complex offerings fell way short of expectations.
  5. Repeat customers are your gold mine. Too many businesses in 2009 went after the quick score. They focused on up-front riches at the expense of their relationships and customer service. Those that weathered the storms of 2009 did so because they over-delivered on what they sold, and repeat customers are eager to buy from them again.

With those lessons in place, here are 3 things your business must have in 2010 if you want to survive and thrive.

3 Profit Pillars For 2010

The kind of business that will see positive growth in 2010 will have three critical elements:

1. Be a person-based, solution-focused business

People are going to increasingly buy from those they know, like, and trust. That’s not new. But you have to make sure you’re standing out by connecting with the problems they’re facing and deliver the solutions in an easy to digest way.

Quit thinking of your potential prospects as dollar bills, and know that they are real people whose lives will be positively affected by what you can do for them.

2. Create multiple streams of income from less (but better) customers

Instead of focusing on finding new customers for the same product you offer, your focus in 2010 needs to be on helping your existing customers in additional ways.

For some, that may look like recommending a key resource and generating revenue as an affiliate.

For others, that will involve a range of information products that address the needs and time demands of your customers.

For still others, that may mean working at a higher level with them in a “do it with me” solution.

Regardless of how you do it, you’ll find the Pareto Principle in effect: 80% or more of your revenue will come from 20% or less of your customers. And they’ll be excited about being in that elite group!

3. A lucrative affiliate program

The final piece, and one that is often absent from the new and intermediate level business owner is an affiliate program. Most people are so focused on marketing their business and driving traffic to their websites, they don’t have time to focus on their paying customers.

With an affiliate program set up the right way, you attract and motivate affiliates who do the promotions for you. Your affiliate proram also rewards existing customers for sharing their favorite resource (i.e., you!) with others.

This frees up your time to think and deliver on new ways to help your customers even more.

Put these 3 elements into your business in 2010, and you will love the way your balance sheet looks at the end of next December!

Bob Jenkins

p.s. These 3 elements are the cornerstones of SIMPLE – a 3 day experience I’m hosting with a few faculty members in February. For more details on how we can give you the roadmap to a 6-figure business, go to this page.

p.p.s. As always, your comments are welcome below…

  1. Businesses that succeeded in 2009 were based on trust, longevity, and personal branding. And those that abused our trust failed and may never recover.

  2. Businesses that succeeded in 2009 provided real solutions to real problems. Instead of focusing on sucking money out of somebody else’s purse, those that remain connected with their customers in meaningful ways.

  3. Cheating is not a viable strategy. Bernie, Tiger, Sanford… Corporate fat-cats, politicians, athletes, celebrities made the headlines because of back-room shenanigans and bedroom infidelities. They were caught and their reputations are forever tarnished.

  4. Simplicity rules. Those that focused on a narrow but significant problem and provided a simple, easy to implement solution won. In my own business, my most successful products were my most basic. And my most complex offerings fell way short of expectations.

  5. Repeat customers are your gold mine. Too many businesses in 2009 went after the quick score. They focused on up-front riches at the expense of their relationships and customer service. Those that weathered the storms of 2009 did so because they over-delivered on what they sold, and repeat customers are eager to buy from them again.

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