Build Strength Using the Parthenon Strategy

One of the most powerful ways to increase business is to understand the business multipliers that leverage the assets of your business. When you apply these marketing multipliers to multiple pillars supporting your business, that power increases exponentially.

In this video, marketing guru Jay Abraham demonstrates how to build a stronger business with mulitple pillars, then apply marketing multipliers to each pillar.

The Power of Parthenon Stratgey

Time 12:59

In this video:

There are three ways to grow a business:

1. Increase the number of clients
2. Increase the size of the sale
3. Increase the frequency or the residual value [back end] in the worth of the buyer

Absolute key concept is optimization - getting the highest and best use of everythign you do. Need to understand 3 core elements of performance: the number of buyers, the average spend per sale and the frequency of purchase. If we apply these to a hypothetical busienss where:

• Number of buyers - 1000
• Average Spend - $100 each time
• Frequency - 2 times a year

Total Annual Revenue = $200,000

If we only increase business 10% across each of these three factors, this represents a 33.33% increase.

Most businesses don't know these numbers. They also don't have formalized lead generation strategies working full time.

Referral Generation Systems

There are 93 referral generation systems, most of which are either unused or under used. The average referral generation client buys more often, is more profitable, more enjoyable to work with and refers more people.

Set up a better, more profitable deal for every client, and you will get referrals without even doing anything further. You need to be constantly advising them how they can perform better, feel better and look better to the market.

Infinite Leverage

Exponential growth by magnitude is represented as "The Diving Board Theory of Business"

Every busienss builds their business on one prime revenue generating activity, using a primary marketing vehicle. If something happens to compromise that infrastructure - supply cost increase, competitor increase.

Add revenue marketing income pillars. Build 8 to 10 pillars:

• Direct Sales
• Telemarketing
• Referral
• Joint Ventures

If each pillar added 10% more:

• Access more markets
• Access deeper into current markets

Takes 7-12 sequential communications to move a client to engagement.

If you take this concept one step deeper by taking the Power Parthenon one step further.

Use any one of these pillars for multiple purposes. For instance, use telemarketing for follow up calls, to upsell after a sale, to invite them to events. This is how you grow businesses.

Next: Case Study - Beauty Services

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