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World's Most Expensive Ice Cream - Born Rich... is obviously the world?s most expensive ice cream ... might be a rare-sell for the makers then the restaurant reports, they sell approximately one a month. Ultra-expensive ice cream ... Read full post here. (c) Ice Cream Professional: Ice Cream Makers for Home and Professional UseWhy Buy an Ice Cream Maker? Icecreamprofessional.com offers quality commercial ice cream makers and gelato makers by Cuisinart, Emery Thompson, Nemox, Chef's Choice, Musso, Lello ... Read full post here. (c) The Number 1 Secret to Recession-Proof Your Business!In my Business Growth consulting, I often describe a sports analogy, but with my own special twist. What am I referring to? Well in sports, the best of the best are referred to as the "Most Valuable Players, or "MVPs" for short. That small group of highly talented players, the MVPs, are generally responsible for the large majority of the scoring in a game. They are far and above the other players, and can be picked out on the field or court by their outstanding performances. Now, let's take this same analysis into the business realm. Let me explain. In business, I have found that the best way to get the most bang for your buck, especially when you're in the midst of fighting a Recession, is by doing the majority of your business with your Most Valuable Customers and Clients, or "MVCs" as I like to call them. Who are your MVCs? Put simply, your MVCs are your best, or ideal customers and clients. They're your cream of the crop. So it would be very helpful for a business to know who is this elite small group of profit-makers. Especially when a business is in a Recession. And one way to find out just who these MVCs are is to first start out by making a list of all of your current customers and clients. Then we're going to apply what is known as the Pareto Principle to that list. The Pareto Principle states that 80% of your business profits comes from only 20% of your customers and clients. Therefore, you can apply the Pareto Principle, or 80/20 Rule, to this concept we're referring to as your MVCs. You see, in the majority of businesses, the MVCs are that special, small group of only about 20% of your total customers and clients. Yet this elite cadre of individuals will typically provide your business with about 80% of its profits and referrals. Its the same as MVPs do in the sports arenas mentioned above. Okay then, 3 questions come up concerning your MVCs. And those are:
To answer these questions, we've got to find out about the 2 secrets referred to above. Then we've got to apply them to our own businesses. First, the process starts off by using a method of identification employed by many police forces throughout the country when searching for potential criminals. And that's the basis of Secret # 1. They use a system called "profiling". When you make a profile of someone you are looking for, you searching for certain factors common to that kind of person. For instance, what that kind of person looks like, what they like to do, what they don't like, how they dress, where they hang out, who they hang out with, etc... We're now going to apply Secret #1, Profiling, to your business. We're going to come up with a profile of your MVCs, your Most Valuable Customers and Clients. So let's start the process with this exercise. SECRET # 1 - Your MVC Profile. Take out a sheet of paper and carefully answer these 8 questions: 1. Which clients produce the highest hourly earnings or profits? 2. Which clients generate the most referrals to you? 3. Which prospects appear most receptive to my work style? 4. Which prospects do I think have the most potential of buying more from me (making me the most money)? 5. Which prospects have the most growth potential in terms of my own future business growth goals? 6. Which prospects do I have the most in common with, in terms of lifestyle, personality, aspirations, etc... 7. Which types of people do I enjoy spending the most time with when I am not working? 8. Which types of people do I enjoy working with the most? When you finish answering these 8 questions, you'll have come up with an ideal customer and client profile; your own list of qualities, characteristics, demographics, and other relevant factors that make up your own MVCs. And when you do so, you'll then have a specifically identified the factors that are unique to this group of special customers and clients that are your business All-Stars... your MVC Profile! Secret # 2 involves determining the steps necessary to target your MVCs. You want to reel in these big ones with a strategically designed marketing plan that focuses on this special group, and with the kinds of products or services that this special group is attracted to buy. Look for the companion article, The # 2 Secret To Recession-Proof Your Business. Targeting your MVCs. Copyright 2009. Miguel Mendez, Jr. All Rights Reserved. The author, Miguel Mendez, Jr., Esq. is an attorney and Business Growth Expert for over 22 years. Get his 3 FREE Special Reports now on Business Growth and Profit Building, even in a Recession! Download them now at http://www.mastermindgroupinternational.com , and you'll also get a FREE subscription to the award-winning MasterMind Business Growth & Profits Ezine too. A $179.00 value absolutely FREE This article is an excerpt taken from the MasterMind Business Growth System as written by Attorney Miguel Mendez, Jr
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