The 1-page Marketing Plan

Vilfredo Pareto 80/20 Rule: The 80/20 rule holds true for more than just land ownership in Italy. It holds true for almost anything you care to think of. Some examples: • 80% of a company's profits come from 20% of its customers. • 80% of road traffic accidents are caused by 20% of drivers. • 80% of software usage is by 20% of users. • 80% of a company's complaints come from 20% of its customers. • 80% of wealth is owned by 20% of people. • Woody Allen even noted that 80% of success is showing up.

An important reason for some entrepreneurs failing to implement: Paralysis by analysis: they keep trying to learn more or get stuck chasing the latest bright shiny object in the hope that they'll get everything perfect the first time around. You'll never get everything perfect the first time. You only truly learn by doing. Don't let perfectionism become a source of procrastination to you. Remember 80% out the door is better than 100% in the drawer. Successful entrepreneurs have a bias for action, implement quickly and course correct along the way. As one of my early mentors would say, "Money loves speed."

Here are a few methods to monetize your existing customer base in this way: 4- Become an affiliate referral partner: this is similar to the model of selling leads, except that instead of being paid per lead, you get paid a commission on sales made by the third party you're referring to. This can be extremely profitable, especially for scenarios in which you get a trailing commission on all future sales. Refer once and get paid forever (or at least a long time). Many people in industries such as insurance, telecommunications and finance have built highly profitable businesses based on this model.

Here are a few methods to monetize your existing customer base in this way: 3- Resell complementary products and services: you could buy complementary products and services on a wholesale or white label basis and resell these to your customer base. The benefit of this model is that you maintain full control of the relationship and never hand over your customer details to a third party.

Here are a few methods to monetize your existing customer base in this way: 2- Exchange the leads: if you don't want to, or if it's not appropriate to accept payment for leads, you could set up a two-way lead exchange program with someone else in a complementary busi-ness. They send you their customers and you send them yours. Again the same caveat as selling leads applies. Never give out your customers' confidential details without their permission.

Here are a few methods to monetize your existing customer base in this way: 1- Sell the leads: there's very likely someone else in a complementary but noncompetitive line of business who would be willing to pay handsomely for hot, qualified leads. One caveat here is to ensure that you have your customers' explicit permission to pass on their details.

Finding other complementary businesses that your customer deals with before they deal with you can help you uncover untapped profits in your business. Setting up a joint venture (V) arrangement with one or more of these businesses that are not in direct competition with you can be a cheap or free source of leads. If you're a lawyer, an accountant might make a great source of new leads. If you're a car detailer, a mechanic could be your source of leads. If you're a pet food retailer, a vet might be your ideal source of new customers.

Referral technique: Mr. Customer, it's been such a pleasure working with you. If you know anyone who's in a similar situation to yourself, we'd love you to give them one of these gift cards which entitles them to $100 off their first consultation with us. One of the reasons we're able to keep the cost of our service down is because we get a lot of our business through referrals from people like you.

This brings us to one of the best strategies for getting what you want in business and indeed in life--just ask. So many people just wait to be discovered, wait to be picked, wait to be referred to. You, however, are an entrepreneur, which means you make things happen for yourself. You don't just wait for them to happen to you. With this in mind, one of the best ways to get referrals is by straight out asking for them from customers for' whom you've delivered a good result. It's amazing how many business owners hope for referrals vet rarely ask for them.

Your tribe members are like the proverbial "good wife" taking care of things at home and keeping things running while the husband's out at strip clubs looking for love in all the wrong places. Your tribe are the customers that keep your lights on and stick with you and promote you despite you focusing on trying to appease vampires, trying to retain churners and throwing your time and resources at snow leopards.