Napoleon Hill Foundation Certified Instructor, Jeffrey Feldberg, provides some wise thoughts about how to use the Principle of Going The Extra Mile to explode your bottom line.
As an entrepreneur, you stand on the shoulders of giants like Napoleon Hill. Through his book, Think and Grow Rich, Hill helped millions of people.
In great detail, Hill describes why and how to go the extra mile. In Hill's words, "render more and better service than you are paid for, and sooner or later you will receive compound interest from your investment."
Two phrases in Hill's quote stand out: "sooner or later" and "compound interest. "If you're looking to 'get rich quick,' stop reading this article and look elsewhere. Authentic success takes time. Period. End of story."
Although most people have heard of compound interest, few realize its power. Make no mistake, when you go the extra mile you're using the principle of compound interest.
Step #1: Realize That Going the Extra Mile Is Like Compound Interest
Warren Buffett considers compound interest the 8th wonder of the world. And for a good reason.
Let me illustrate.
Would you rather have $1 million dollars right now or a penny that doubles every day for 30 days? Most people choose $1 million dollars right now. And surprise, surprise, this is the wrong choice.
Through the power of compound interest, the penny turns into $5,368,709.12 in 30 days. That's right, $5.3 million from a penny doubling every day.
We can both agree that it's not very often that investments double every day. That said, the power of compound interest still holds.
Ever wonder where the expression of "the rich get richer" comes from? Now you know. When you go the extra mile through your actions, you invoke the full power of compound interest. Your actions, over time, build up both value and good will for your customers.
Step #2: Make It A Habit To Go The Extra Mile Daily
Going the extra mile is both a philosophy and way of life. Case in point, ultra successful entrepreneurs go the extra mile everyday. When you go the extra mile both in life and business you reap untold riches in happiness and success
Step #3: Ask These 4 Questions To Go The Extra Mile And Explode Your Bottom Line
Ask the right question and you'll get the right answer.
Author and coach Jack Canfield recommends the following 4 questions to ask yourself.
Canfield's questions build upon each other.
When you know what your customers expect, you're prepared.
Knowing your customers' expectations allows you to do an inventory of yourself. It now becomes easy to discover if you're meeting or exceeding expectations.
And while you're at it, don't stop with you. Look at your competitors. Research and find out what the competition is doing and not doing.
If you're not exceeding expectations, why not? If your competition is doing something better than you, why?
Have some fun with question 4 and ensure you win the business every day. Ask yourself how you can add more value to those in your life. Find out if you can you do something for your customers that you're not doing.
Check your ego at the door and ask for candid feedback.
Remember, do more listening than talking when speaking with your customers. The feedback you're hearing is worth its weight in gold.
Step #4: Be Pain Relief For Your Customers' Headaches
Successful entrepreneurs are pain relief for their customers' headaches. How do you go the extra mile and be pain relief for your customers' headaches, you ask?
Ask these 10 magic words and create an opportunity for you to go the extra mile and explode your bottom line.
The 10 magic words are:
How can I be of service to you right now?
When you utter these magical words two things will likely happen.
First, you will stand out in your customers' minds. You're in a league of your own as most people don't ask this question.
Second, expect to get requests that are above-and-beyond of what you do. When this happens, smile and be grateful. Why? People prefer to do business with friends, not strangers. When you help a customer, even if it's out of your area, you've earned trust and respect.
Will some people take advantage of you? Yes. So what. This as a cost of doing business and will happen less than you think.
When you go the extra mile you become a trusted resource and friend. Customer loyalty increases as will your sales.
By helping people, regardless of their request, you're helping yourself.
Have Fun When You Go The Extra Mile And Explode Your Bottom Line
The true reward and success is the journey. Have fun and get creative when you go the extra mile. Your customers will be grateful. You'll enjoy the process, and at the same time, explode your bottom line.
When you follow the four steps in this article, you begin to go the extra mile every day. And like compound interest, over time your actions will help explode your bottom line.
Let me leave you with a quote from a wise man otherwise known as Martin Luther King. No matter what your calling, follow King's advice so you can go the extra mile and explode your bottom line.
"If a man is called to be a street sweeper, he should sweep streets even as a Michelangelo painted, or Beethoven composed music or Shakespeare wrote poetry. He should sweep streets so well that all the hosts of heaven and earth will pause to say, "Here lived a great street sweeper who did his job well."
Here's to you and your success!
Jeffrey Feldberg is a passionate entrepreneur whose personal mission is to be a deliverer of happiness and amplify your success.
In addition to running his companies, Jeffrey provides insights, strategies, education and tools to help you flourish and succeed in both your personal and professional life.
This is accomplished through private mentoring, through business advisory and Jeffrey’s Curation of Success post http://www.jeffreyfeldberg.com/access
If you have any questions you can reach Jeffrey Feldberg through hello [at] jeffreyfeldberg [dot] com