An Announcement From An Idiot

I was having lunch with my friend, Matt McWilliams, and I was sharing with him how I had just finished an "epic" blog post.  I was really excited.  I had written the post as a brainstorming session on how private community pools could expand or grow their pool membership and felt I had a ton of value to offer.

The post was nearly 3,000 words long.

Matt kindly looked at me and said, "Sorry, but I...

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Adam Witmer
How To Barter For What You Need

Many cash-strapped small businesses delay investing in much needed repairs, investments, inventory, or even services.  The problem with this is that growth is often slowed when these essential investments are not made.

Fortunately for these small businesses, there is an alternative to paying for these investments.

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Trading Time for Money Will Cost You Big

Do you ever get tired of trading your time for money?  If you are like many of the small business owners I talk to, then you certainly do.  You know that the product you are offering is worth more than what you are getting, but you just can't imagine charging more. 

That is okay.  You have been basing your prices on the cost of the product to you instead of the value that the customer ultimately receives.  If this resonates with you, then you may want to consider shifting your buisness model to a "value-based" model rather than a cost-based model.

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How to Use Coupons to Make More Money

The key to effectively using coupons is to understand why they work and then to strategically implement a coupon program.  Without being strategic, you could just be arbitrarily cutting into your margins without understanding the effectiveness of the coupon.  Basically, if you just hand out coupons on every sale you make without having a reason for doing so and without raising your profits, the result is decreased margins and subsequent profits - just like you reduced your prices.

Therefore, it is important to have a strategy behind your coupon program.  Here are six ways you can strategically use coupons to make more money.

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How to Increase Sales Through Product Bundling

Product bundling is simple - it is the process of grouping together multiple products and selling them at a packaged rate. 

Whether it is McDonalds, your cable provider, or your insurance agent, product bundling is a common marketing strategy that is used to increase sales for the business while also providing a value to the customer.  As customers, we are used to purchasing bundles and bundling is a strategy that has proven to work so much, that many industries would never consider selling without bundles.

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Dissecting the Business Model of Two Competing Roller Rinks

Growing up just north of Fort Wayne, Indiana, there were two roller rinks that would compete for our business: the Roller Dome North in Fort Wayne, IN and Bell’s in New Haven, Indiana.  We would frequent these two businesses for birthday parties, school functions, and other organizational outings.

As a kid, I really couldn’t see a difference between the two businesses - we went there to skate and have fun.  Now as an adult, I can clearly see two different business models.

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Dissecting the Best Business Hacks of a Membership Site

With so many resources available to help our businesses, it is often difficult to find one that provides a great value at a good price.  Thankfully for me, I have found such a resource in Platform University by Michael Hyatt.

Now, I don’t expect that all of you are going to jump into Platform University - that is not my intention at all.  Frankly, Platform University isn't really designed for many of my readers as it is a resource for those building online businesses, which is something I am doing with this site and my business. 

The reason I am writing this article is that I wanted to take this opportunity to dissect the inner workings of this membership site I have been a part of for nearly two years and break down why it has been so valuable for me.  My hope is that you will be able to take away a few business hacks (summarized at the end of the article) that Michael Hyatt has used in Platform University and be able to apply them to your own business.

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Dissecting the Convenience Item - Why Customers Pay More

A convenience item is a product or service that is available at the right place and right time for a customer. These are items that are often sold at a premium price compared to what a customer could purchase the item for if they bought it in advance, at another location, or in a larger quantity.  The end result is that customers are willing to pay more for an item when a business offers the item at a time and/or location that is convenient for them – meaning the value proposition is convenience rather than price.

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3 Simple Ways to Cross-Sell - Business Hack Series

Cross-selling is the art of offering a complementary product or service to a customer who is in the process of purchasing a different product or service.  The idea of a cross sell is to provide in additional product that complements the product they have already decided to purchase.many times the product or service that is offered any cross sell is actually very beneficial to be purchasing customer.

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The Power of the Up-Sell: Business Hack Series

One of the most valuable hacks any business can make is to consider ways to upsell existing products or services.

Up-selling is the simple act of turning a sale (that is in process) into a larger sale.  This is usually accomplished by offering a premium version of the product or service a customer is already interested in purchasing.  

The idea is that the person buying your product or service is already...

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Adam Witmer