This is an interesting issue.
How I Find $10k in Any Business in 45 Minutes by Stephen Fox
When I reviewed this book on Amazon.co.uk, I gave the book Four Stars. This means it is Good and Well Worth Reading.
Here is my book review.
One of many – if interested look for the cheapest
This book is a good idea. Who doesn’t want to know where they can find extra revenue and profit. The promise in this book is to find $10k of extra revenue which isn’t very demanding and could have been more ambitious.
It’s such a good idea that, if you search Amazon for the title, you’ll see remarkably similar books, often with very similar covers by different authors.
The book itself reads a bit strangely because it seems to be a presentation to a potential client that has been transcribed. For example, it says “When you completed my mini-audit for your business, I noticed that…”
The book introduces a version of the old advertising acronym AIDA standing for Attention, Interest, Desire and Action using different words of Interrupt, Engage, Educate and Offer.
These map together along the lines that your advertising needs to:
- Interrupt customers to get their Attention,
- Engage to build their Interest,
- Educate to create Desire and
- make an Offer to encourage them to take Action.
Using such a logical framework will help your advertising be seen more by customers and resonate more strongly with them. The accepted wisdom of marketing is that it takes many repeated exposures to your marketing message to move prospective customers to action. The book says the IEEO method will reduce the needed exposures to between 5 and 12.
The second technique is to look for JV or referral partners. These are businesses who sell to your type of customer but don’t compete directly against you. The idea is to swap leads, and it here is an imbalance ( for example where services follow each other, commissions can be used to make everything fair. It gives the example of the chain of purchases involved with a wedding and the role of a florist to find opportunities to receive referrals and to give referrals and earn commission. In real life, the wedding planner is likely to have the biggest opportunity to direct sales to other businesses.
I don’t think it’s fair to go into details on the other profit building ideas but I hope I have given you an impression of the book. It’s based around building up an arithmetic justification for buying advice.
The book is stronger on the what to do rather than the how to do it. You’re meant to contact the author for detailed advice.
I’m left with two questions to answer:
1) Should you read this book? Yes I think you should although there are similar, very good books out there that explain similar profit boosting tactics based on the ideas popularised by Jay Abraham e.g. Getting Everything You Can…
2) Should you pay more for it than you need? No. My advice is to search Amazon for the title, look at the different books to convince yourself they are the same and pick the lowest price. My understanding is that the book is provided for a network of business coaches to use as their own work for lead generation purposes and to help establish their expertise.
You can buy these books at Amazon.co.uk or Amazon.com
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