The 5 Step Focus Formula(TM) For Builders To Earn Your First $1million Profit Year
Straight to the point, this is the fastest way I know how to teach builders how to earn their first 1 million dollar profit year!
It is an extremely simple model but one that is extremly effective and your building and construction business honestly does not need to be any more complicated in the beginning to earn your first $1 million dollar profit year.
Your Problem
The problem builders currently have is they often have a clear goal of what they would like to achieve such as earning a million dollars profit for the year, but they don’t have a clear plan on how they are going to achieve that.
You need to understand that to grow from a word of mouth & build whatever you can get builder and instead predictably grow your business and get yourself off the tools, you’ll need to put a heavy focus on a clear strategy and a larger focus on to your marketing strategy.
Currently its likely you have a marketing strategy which is mostly relied upon word of mouth and it may lack direction as to who your target market is and what your product is to that person.
Your likely to be marketing yourself out as a builder who can “do it all” but unfortunately your marketing is very ineffective in this way. You’re the Jack of all trades but the master of none and hence you take what you can get through your word of mouth and will take on any job big or small.
This kind of thinking needs to change. You need much more focussed and clear strategy that you stick to.
The Solution – The 5 Step Builders Focus Formula(TM)
A focussed strategy will allow you to:
1. Attract building projects that are your “ideal” type of project.
2. Projects that are highly profitable.
3. Projects that you aspire to
4. Projects that you enjoy doing on a daily basis.
5. Projects that your proud
6. Finally create a building and construction business that you are proud of because you’ll feel like your reaching your full potential.
The aim of the 5 steps focus formula(TM) is to recognise that its very important that as a building company looking to grow quickly you need to:
1. Simplify your strategy
2. Compress Your Products
3. Maximise Your Marketing
It will become clear as we go through each of the 5 steps how we will ensure we do this so that you can make this year the most profitable year you have ever had.
Step 1 – Aim to serve > 1 Person
As I mentioned, you can’t be a jack of all trades building anything you can get your hands on for all people. To be able to predictably market yourself and make your marketing work, you need to choose 1 person you are going to market to.
Go Narrow! The narrower you can go the better.
Don’t have a marketing budget? Choose a target market, 1 person, you can attract by meeting them 1 on 1, perhaps its an architect. Even better perhaps it’s an architect that only designs double storey townhouses. Even better perhaps is male architects 40-50 years old that only designs townhouses in the south east of melbourne.
Do you already have a marketing budget? Perhaps your 1 person to target is single females. Better yet, a single female professional, better yet, professional over 40 years of age, earning over $200k.
Now this particual target example may not resonate with you, perhaps this resonates a lot but can you see where I’m going with this?
The narrower you can get your target person the more effective the language is to market to this person. You can start to look at two things.
Who the person is?
& what they’re biggest problem is.
Then you can start to create marketing language to speak to this target market and spark their interest in a more effective way.
With current marketing strategies such as google adwords and facebook that can target so specific to these types of demographic attributes can you see how we can now start to effectively get in front of our target market and advertise to them in a far more cost effective manner with this targeted language that we can use.
Step 2 – 1 product – you can stake your life on
You need to decide on what product your going to provide to your target 1 person.
Remember you cant be the jack of all trades, its not effective to be both a new home builder, extentions and renvator when it comes to your marketing. This doesent mean you have to stop providing these services in the background, but it does mean you need to seriously STOP advertising that you are a jack of all trades.
So once you have your ideal target 1 person. What is the 1 product you can stake your life on that will provide an awesome solution to your 1 persons 1 big problem they are trying to solve and then explaining to them what process you will take them through to solve this problem.
Step 3 – 1 conversion tool – that your happy to tell the world about
For example your sales conversion tool might be an initial 1 on 1 strategy / planning appointment, 3 hour evening seminar or workshop, online webinar, teaching them all about your product and how it can solve their 1 big problem.
Focus is very important in this step. You need to strategically create this and you need to put every single person that has the potential to become your client through this same conversion model you create. The rules are it needs to be scalable. It needs to be evergreen i.e something you can run prospect through all year round. It needs to be event driven. Anything event driven converts like crazy and this is very important to be able to use scarcity etc in your marketing strategy.
Step 4 – 1 traffic source / lead channel – that relyably attracts new leads
Once you know what your first 3 steps are you can then work out what channel of traffic to use to bring new targeted leads to your business. As I mentioned earlier you may choose your target market to just be architects of which you may approach in person using the budget of your own time. If your targeting a specific type of person such as my second example, where do they hang out? Do you need to spend your time sourcing them out in person, or can you target them strategically on facebook? Google? Direct mail? Or elsewhere? There are many ways, only choose 1 and be very disciplined to stick to just 1 & keep working at it to make sure you get it working effectively.
The rule on this step is all about Scale. There are 4 options to scale in this step. 1. Partnerships. 2. Pay per click (it could be google, it could be facebook etc) 3. Offline – As long as its scalable you can use it, think direct response marketing, it could be sending postcards mail outs, sales letters etc. there are many format options. 4. SEO / Content marketing. In short create an octopus of your content and put it out on every online platform you can think of linking it back to the content on your website. Platforms include (facebook, youtube, google, itunes podcasts, directories, pintrest, linked in, twitter etc)
Step 5 – 1 year – to sharpen and polish and refine
Give yourself 1 full year to improve and refine your 5 step formula based on the feedback you receive while implementing. We want to continue to sharpen your knife of the stone of the market over and over again.
How to implement.
Spend 1 day of your life working out who your best target person is.
Spend 1 day of your life creating your ideal product for that target person
Spend 1 day creating your conversion strategy & tools
Spend 1 day creating your promotional materials for your chosen traffic source
Spend 1 year furiously promoting your product to your target person like a man possesed.
Spend 1 day a week reviewing feedback and refining your strategy.
Earn $1million dollars profit in 1 year. Take more time off and be more proud of yourself and your achievements that you have ever before.
And Remember
Concentrate on the end goal, be deciplined, be effective. There will always be customer questions, trades to deal with, deadlines to meet.
Those that are successful, those that are earning $1million in profit, never take their eye off the goal and always make their own business, this 5 step focus formula their single biggest priority at all times. You must complete this as priority number 1 day in day out as your priorty, then you can attend to the rest using the rest of your day.
Those that are not succesful attend to everything else first, and their day is so full they never get to this. They are also still on the tools, not earning anywhere near what they know they are capable of earning. Not taking holidays they wish they could and simply are not happy and proud of themselves.
Which path will you choose?
Written By Grant Kennedy
Attributions with thanks to mentors of mine such as Taki Moore and Glen Carlson
