6 Weeks to Cash
By Loral Langemeier (as seen on the Dr. Phil Show and website)

How would you like to make an extra couple hundred dollars more every month? Have you considered beginning a home based business, but you're not sure where to start? Then follow these easy steps and you will find yourself only 6 weeks away from making new cash!

Week #1 -Discover your skills.
  • What is your skill set and what do you like to do? Write them all out even the obvious ones.
  • Skills are different than experience.
  • Use these cash machine skills to build a business.
Week #2 -Generate and model the idea.
  • Find a company doing what you want to do.
  • Do your research, then call them up and interview them.
  • Take a field trip and investigate the business you're considering.
Week #3 -Revenue model.
  • Write down how much money you need to make per month, per week and per day to cover your expenses and then to profit.
  • This is a tool for goal setting and will establish whether or not you should develop the business concept.
  • It is an important step to getting the business up and running.
  • Getting to target numbers and making more $ is a Cash Machine.
Week #4 -Design the Cash Machine Plan.

The Concept. Define your idea as a Business Concept. A good concept relies upon skills you already have.

The Opportunity. You should have a distinct advantage or unique selling proposition. Create a menu of products and services.

The Strategy. Concept defines the strategy and the strategy clarifies the concept. Create an action plan for your business. What needs to be done first, second, and so on, write it all out.

The Team and Operations. Outline your team; it pushes you to understand what you are looking for. Get others involved, make them a part of your team!

The Financials. From your revenue model design a profitability plan. Consider expenses and start up costs. You don't want any surprises figure out exactly what you will need!

Future-pacing. Set your sights on future benchmarks. Make a realistic timeline to help track your progress and what direction you need to be taking at every stage.

Week #5 -Build your team.
  • Model the organizational and personnel structures you want. It's your business choose who will be there with you wisely. Do they understand your vision? Do you work well with them?
  • The size and type of business will determine your team.
  • First in- Mentors. There are plenty of people out there who have been where you are right now. Choose a mentor that can hold you accountable and help you when you're experiencing a little self-doubt.
  • Set up financial systems (Quick Books, Microsoft Money). Hey I know this sounds hard, really it's not. Some people tend to gloss over this step. It's why those who do generally fail.
Week #6 -Develop the Marketing and Sales Strategies.
Engaging the Customer
  • Discover your message. You need to communicate your vision. What do you want others to know about what you do?
  • Understand your target market.
  • Beginning marketing ideas: newspaper ad, internet sites, radio, email campaigns, posters and flyers, parties or get togethers, third party endorsements, craigslist, etc.
Marketing 101
  • From product to promotion. Create a plan that will determine how you will promote your products, where you will drive the traffic to and what you want the person to do.
  • Who is your target audience and how often will you market to them?
  • Getting from Strategy to Tactics. How will you execute your plan?
Sales: Enrolling the Customer
  • Understand the goals and objectives of who you are selling to.
  • Be passionate, not pushy. There's a fine line between persistence and being down right pesky.
  • Become a product of the product. Live, eat, and breath your product. Be it's best example of a satisfied customer!
  • 2 levels of communication: conscious and subconscious. Your message to organically reach both.
  • Before you sell anyone else, you must be sold on yourself. In order to compel others to buy your product or service you must be compelling yourself.
Steps to Sales: Sell yourself first, sell your prospect, and sell their reality.
  • Engage the prospect. Talk to them not at them.
  • State the truth. Be factual!
  • State the facts. Be truthful!
  • State the benefits. Tell them why and how what you offer will improve the quality of their current situation and ultimately life in general!
Ready GO!

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