Most Home Based Franchise Entrepreneurs Are Blind To This One Simple Fact and Are Failing Because Of It

In part three of this four part series of why 95% of people fail in their home based franchise I am going to ask you to dig deep within yourself and if any of the information that I am going to share with you holds true even the to the slightest degree….are you going to be willing and are you going to be able to make the changes that are needed to be made for your success in your home based franchise and in your life?

Most Home Based Franchise Entrepreneurs do not look outside of their box for different solutions and answers. 

Successful home based franchise entrepreneurs are successful because they borrow ideas from, in most cases, businesses that are outside of their specific industry; this would include ideas from outside your MLM or direct marketing company.  They tend to think outside of their own four walls for additional ways to be successful.  Let me give you just a few examples…

McDonalds, Burger King…most of the early fast food chains did not originally have drive thru windows.  You had to physically go in, order your food and either eat in or take it home. 

Did you know that the drive thru concept was not born from fast food restaurants?  The original idea came from drive thru banking.  Obviously somewhere along the way the fast food industry realized the convenience to their customers in not having to get out of their car to do business with them and there you go… drive thru windows were born. 

Today, most fast food restaurants, donut places, and coffee stands are enjoying the added revenue of giving the convenience to their customers by providing them the option of a drive thru.  And while the restaurant chains like Uno’s, Applebee’s and PF Chang’s don’t have drive thru windows...yet...they do have curb side delivery… The next best thing.  How can you make it more convenient for your customers, leads and prospects to do business with you in your home based franchise?

Another example of “borrowing” an idea from a different industry is Netjet.  For those of you who don’t know; Netjet is a fractional ownership in private jets.  Pretty cool, right?  Well, where do you think that Netjet got the idea from?  The time-share industry.  Fractional ownership of vacation property to make it more affordable has been around for decades and now Netjet is doing the same thing for those customers who want the luxury of having their own jet, but don’t want the financial burden of the entire investment.

I am actually looking into a fractional ownership of a beachfront property.  The concept is brilliant.  You might not be able to afford a luxury item of one kind or another, but you bring several like-minded individuals in on the same purchase...work out an agreement of time of use and viola...everyone gets to enjoy and take pride in ownership of something that otherwise might have been financially out of reach. 

Are the products or your specific opportunity in your home based business high ticket items?  Could the cost be divided up by several like-minded individuals and the value of the products and opportunity be shared among everyone? 

Depending upon your product or service, these individuals don’t necessarily need to even live near each other.  Are you thinking outside of your four walls yet?

One of the most successful marketing strategies of all time is giving a gift with an appointment or a purchase.  The pharmaceutical industry took this idea to an entirely new level and was severely reprimanded because of it...but gifting was not originally born from the pharmaceutical and medical industry.  No, it was originally born from the cosmetic industry...you might have heard of her...Estee Lauder.  Estee Lauder was the first to give free lipsticks and cosmetics to passer bys and to those who purchased something in the Estee Lauder line. 

In Sydney Biddle Barrows new book “Uncensored Sales Strategies” the Mayflower Madam incorporated very successfully the marketing strategy of giving gifts.  Now, I know where your mind might be going at this point and you can stop right there!!  My suggestion for you is to read this book, co-authored by Dan Kennedy.  It is a brilliant sales and business book. 

Getting back to the topic…when Sydney was the Mayflower Madam, she would gift her best clients with a bottle of Dom Perignon.  You will have to read the book for the marketing strategy for this very expensive and tasty gift and I will tell you it was certainly a win/win business strategy for her very successful enterprise.

To me, this is one of the simplest ways to up-sell and command repeat business time and time again in any business, not just your home based franchise.  The gift doesn’t have to be huge or expensive, as is the bottle of Dom Perignon… although I must say that pens and pencils with the company’s logo on them are a getting to be a bit tired.  This age old marketing strategy can literally be done in any industry.  Get creative, have fun and reap the financial rewards that you will see in your home based franchise.

The bottom line is that you need to start to think outside of your industry box.  When you start to take a look at different ideas that have been successful in different industries don’t put on the blinders and say that it would never work for your home based franchise and your industry.  Don’t fall into the trap of finding every excuse under the sun as to why something will not work for you just because you don’t come from the same cookie cutter industry.

Take a look at where your home based franchise is right now.  Would you like your business to be more successful, more profitable, and continue to grow despite the craziness of a sagging economy?  If your answer is yes, then take off your blinders and take a look around at other industries that are making it happen in today’s economy.  What are they doing for their marketing campaigns and then take a page out of their successful play book and adapt it to be successful in your  home based franchise. 

Successful home based franchise entrepreneurs get rich by finding the opportunities and tweaking these opportunities to make them their own.  You can absolutely do the same.  If you have any questions on this 4 part series of why 95% of people and home based franchises fail, please give me a call or give me an e/mail.  Go take some great action and have a terrific day.