4 Stubborn Business Myths

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Entrepreneurs know that owning a small business takes dedication, passion, and hours of concentrated work. You may run into obstacles that test your business and your perseverance, obstacles that are norms in the world of business which each entrepreneur must learn to navigate. However, there are some obstacles that you may be facing without realizing it. Those barriers are stubborn business myths that just won’t go away because people believe them, even though they aren’t true.

1. It’s not what you know but who you know.

In the course of doing business, business owners or potential business owners come up against this belief time and time again. However, while it is true that knowing the right people may help you get started or get access to some deals, in most businesses it is expertise, experience, and skill that propel you forward in business. If you can provide the solutions customers want, they will refer you to their friends and family.

2. Nice guys finish last.

This myth is a holdover from the era of Western movies and superhero comics. Nice guys (always portrayed as pushovers or wallflowers) finish last because the villains and heroes walk all over them. In film, this may be true. After all, Tony Stark isn’t a nice guy. He is an arrogant, self-centered genius. However, The Avengers aside, in real life, nice guys finish first quite often. While a person with low self-esteem who doesn’t speak up will not be successful without change, a courteous business owner is appreciated immensely by customers and vendors.

In today’s modern world, people are used to dealing with machines, poorly-paid clerks, and online shopping. Finding a business person who is willing to offer them genuine customer service, build a relationship and spend time getting to know them to better serve them is rare. Many people are happy to pay more for real customer service. Therefore, being a “nice guy” is valuable to your contacts. They will remember your excellent service and come back for more.

3. Don’t work hard. Work smart.

This myth is one of the worst business myths out there. There is no way you can run a business without working hard. Hard work is what separates the “men from the boys” as entrepreneurs. Successful entrepreneurs put in hours of labor to get their businesses off the ground. Working smart is just another way to say that there is a workaround or that you can find a way to skip the hard work. It just isn’t possible in reality. If you aren’t willing to work hard, you won’t make it in business.

4. It’s called work for a reason. It’s not supposed to be fun.

All work has elements that workers do not like to perform. It might be the paperwork that you need to fill out for each customer or the data entry on your last case. However, why can’t work be fun?

People who find work that satisfies them are much happier in life. That happiness translates to their work and their interactions with co-workers, customers, and vendors. If you love to sell, create graphic designs, or help customers find what they are looking for, then you ARE having fun at work. In fact, many companies are now providing their employees with ways to have fun at work to help reduce stress and fatigue.

So go ahead and have fun while working! It can only improve your outlook and production. Work can be fun.


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What You Need to Know About Facebook’s New Mix Modeling Portal

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We’ve written extensively in the past about how when it comes to digital and print marketing, you’re not looking at an either/or proposition. Often, businesses of all sizes are finding great success embracing the best of both worlds – reaching out to the customers who are most receptive to print channels via traditional methods and using digital resources when they’re most appropriate. We’ve even written about how you can take the lessons learned online and use them to make your print strategies even stronger.

We’re not the only people who share this opinion; it would seem. Facebook has recently launched a mixed marketing portal designed to make it easier than ever for businesses to compare Facebook-based advertisements to television, print, and other types of collateral. While this does mean big things for people using Facebook as an advertising platform, what it means for print marketers is even more interesting.

What Facebook is Doing

The social networking giant’s mix modeling portal for marketers is a significant extension of an existing partnership. Over the course of the past few years, Facebook has teamed with Nielsen (the people who tell you how many people watch the Super Bowl each year, among other things), comScore (the people who focus on digital, TV and movie analytics), DoubleVerify (a company that aims to “authenticate the quality of each digital media impression”), and others. This has all been done to provide clear metrics on how far a Facebook ad reaches, how many impressions it gets, its ultimate performance, and more.

For advertisers that rely heavily on Facebook, this means that they now have access to twenty-four different third party measurement partners to track the performance of their ads around the world, see how their ads are comparing against similar ads running in the world of print and more.

For print-based marketers, this also thankfully means that the reverse is true, too.

What This Means For You

Even if you don’t heavily advertise on Facebook, this new model is still something to pay close attention to because of the metrics at play. It’s another example of the ever-important concept of “pay attention to what is working online and use it to strengthen the foundation of your print campaigns.” Thanks to Facebook, this just got a whole lot easier.

By giving advertisers the ability to compare a successful Facebook ad to other elements of their campaign like print, people who DO happen to be heavy print advertisers can essentially come in from the opposite angle and learn just as much. It’s all a matter of perspective – the marketing mix modeling portal can be used to look at one of your successful print ads, compare it to ads that are running on Facebook and use that actionable information to feed back into the print campaign to help achieve your desired outcomes.

Print and digital advertising have historically been measured in very different ways, but thanks to Facebook we just took a big leap closer to a uniform standard that can be used in both situations. You can use the Facebook MMM Portal to see how impressions reach and other metrics translate into the real world and back again.


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Different By Design: 6 Tips for Adopting The Principles Of Disruption and Improving Your Marketing Strategy

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Less than a decade ago, one of the world’s largest transport networks was simply an imaginative flicker in the minds of two men trying to hail a taxi on a cold Paris night. After failing to snag a car, the two men came up with an idea of an on-demand taxi service at the touch of a button. What began on a snowy evening in France quickly turned into an app to request luxury sedans in a tiny handful of the world’s most cosmopolitan cities. Soon it spread to include different types of rides, package and even food delivery in nearly any city on earth. That app was Uber.

Uber is now one of the world’s richest start-ups. Along with other innovative digital companies such as Airbnb, Snapchat, Netflix, and even Buzzfeed, Uber has grasped a powerful disruptive strategy that has brought it financial and scalable success in a short amount of time. Disruptive businesses such as these can pick out and then act on trends before they become a trend, building a niche in a market that many people haven’t even discovered yet. Follow these six tips to learn some disruptive strategies that will help to differentiate your business and set it up for future growth.

1) Be technologically savvy

Get to know what is happening in the world of all things digital and tech, even outside of your own industry. Something that can revolutionize your business might come from a spark of something you’ve noticed in a different market or business type.

2) Be a first adopter

Often successful companies are the first ones to take on changes and innovations and to use them to their advantage. Don’t be afraid to step out on your own when trying something new.

3) Rely on sharing

Businesses can no longer rely solely on traditional forms of advertising. Combining your marketing channels to include print, as well as digital sharing and promotion can be the easiest and quickest ways to reach potential customers.

4) Keep up with the competition

Stay aware of what your competitors are doing and be prepared to match their innovations with yours.

5) Interact with customers

Uber and the like are successful for their ability to connect with customers instantly. Listening to your customers helps to gauge demand and enhance the consumer relationship. With the rise of social media, customers are developing increasing expectations for transparency from businesses. Forming a connection with your clients will add to their loyalty and trust of your company. With constant lines of communication open to your customers, you can also respond quicker to real-time changes in the market, safeguarding you from future pitfalls.

6) Track your success

Digital data provides you with the tools and metrics to see how and where your customers are coming to awareness and consideration of your services or products. Understanding and using data effectively can make the difference in building and maintaining new business and answering needs within the market.


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How to Combine Your Passion and Profession to Make Your Life Purposeful

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You have likely heard the adage, “Choose a profession you love, and you’ll never work a day in your life.” Although the thought of this has merit, sometimes, if a person’s passion isn’t something they can easily transform into a money-making endeavor, it can be a little unrealistic. Thankfully, there is more than one way to combine your passion with your profession to create a purposeful life.

Use Your Passion to Generate Income

We all seem to know at least one person who bought a professional camera and began making money by becoming a photographer. Their profession, of course, was combined with their passion for photography and is now generating income. Another good example of this is someone whose passion is music. They have many options when it comes to transforming that into a career. They can become a music teacher at a school, play an instrument in their local orchestra, give private lessons, or even play at places of worship, parties or weddings as a way to produce an income. These are just a few examples of passions perfectly suited for generating income. There are countless others, and we can all agree that “it’s a beautiful thing when a career and passion come together.” If you have a passion like this, congrats! Unfortunately, not all passions are equally conducive when it comes to generating income. There isn’t an obvious way to create a career out of every passion.

What to Do When Your Passion Doesn’t Easily Translate to a Profession

Let’s consider an example of a passion that would be less than ideal as a career. This could include being passionate about running, biking, or being focused on giving to the homeless, third world countries, or charities. Often, these are hobbies/passions that are practiced alongside a career and don’t ever become the career itself. Of course, there are some ways to use these passions to generate income. However, it’s not easy to make money working for a charity or by giving to the homeless. It’s also hard to get someone to pay you to cycle or run. That doesn’t mean you aren’t allowed to live out your passion, though. You just might have to get creative with how you go about doing it.

Companies That Have Successfully Combined Their Passion & Profession:

An excellent example of this principle in action is the TOMS Company, which has been in business for going on eleven years. The concept they came up with was revolutionary at the time. When they began, TOMS was virtually the only company doing something like this. (There are more now.) TOMS started by selling shoes and advertising a one-for-one system. Their customers bought a pair of shoes from them, and then TOMS donated a pair to a needy child. Therefore, every customer got to get in on the giving action. Customers loved the product but liked the fact that their purchase helped a child in need even more. Today, TOMS has branched out to sell coffee, bags, and eyewear along with their shoes. As of January 2016, TOMS has given away more than 60 million pairs of shoes. TOMS is an excellent example of how you can combine your passion, in this case, helping children in need, with a profession that began selling shoes in a unique way.

How to Get Started

TOMS showcases an ideal strategy to combine your passion and profession. Of course, you don’t have to sell shoes to give back. You can also use the assets you acquire through doing business to give back. The idea isn’t to get this perfect. It’s to attempt to combine your passion with your profession in some way so that you will live purposefully. Remember, starting somewhere will get you where you want to go quicker than sitting still!


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How QR Codes Can Add to the Print Experience: Best Practices You Need to Know

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For years, marketers have been looking for better ways to achieve cross-media marketing. In other words, they’ve been searching for solutions that let them enjoy the benefits of both print and digital channels. Many have turned to QR codes to do precisely that. By including a QR code on a piece of print marketing, you can deliver the same message in the same way, but with a mechanism that varies depending on the preferences of the user.

It’s important to understand, however, that “using a QR code” and “using a QR code properly” are NOT the same thing. When done correctly, a QR code can add to the print experience in a number of important ways. If you want to unlock the full benefits of cross-media marketing that you desire, you’ll need to keep a few key things in mind.

It All Comes Down to Purpose

QR codes are not a novelty anymore. There was a period just a few short years ago where simply including a QR code on a flyer or even a billboard was enough to get users to stop and take notice. Those days are gone, however, as the technology itself has become yet another ubiquitous part of daily life. Because of this, you can no longer get away with using a QR code just because you want to or just because many of those in your target audience now own smartphones.

If your QR code doesn’t serve a purpose, meaning it doesn’t add to the user experience you’re trying to create, it has no business being a part of your print materials. This emphasis on purpose extends to just about every decision you make in the world of marketing in general. Never take a step simply because you feel like you should, or because a study told you that everyone else is taking it. Take a step because it’s the right thing to do for the goal you’re trying to accomplish.

QR Codes Are Not an Invitation for Mystery

Along those same lines, don’t include a QR code in a piece of print marketing WITHOUT also telling your audience what they stand to gain by pulling their smartphone out of their pocket. Again: a QR code is not some irresistible riddle that users are waiting with baited breath to try to solve. Don’t assume someone will scan it just because it’s there. If your QR code redirects to a page that allows the user access to an exclusive 40% off coupon, include a call-to-action on the print material itself that says, “Scan Here to Get 40% Off Your Next Order.”

Design is Important

If someone tries to scan your QR code and it doesn’t immediately work, chances are high they’re not going to try again. When designing your print materials, remember that QR codes that are a high contrast against a lighter colored background tend to work correctly more often than not. Keep this in mind when making design choices moving forward.

QR codes are still an excellent way to have your cake and eat it too! You get to enjoy all of the benefits that only print marketing offers, while still embracing digital marketing at the same time. A poorly designed, poorly executed QR code will do a lot more harm than good, which is why it’s always important to make choices that help ADD to the print experience instead of accidentally taking away from it.


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Qualities That Brands With Longevity Share

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In the world of business, there is perhaps no commodity more precious than longevity. Getting a brand up and off the ground is one thing – keeping it around for the long-term is something else entirely. Creating longevity will rely in large part on your marketing, although this is only one small part of a much greater whole. The best marketing campaign in the world can’t create a long-standing, successful brand if a few qualities aren’t underneath it all just waiting to be communicated to the widest possible audience.

They Trigger an Emotional Response

One of the biggest traits that all brands with serious longevity share is the fact that they’re able to trigger an emotional response with their target audience, creating a loyal army of followers. This is true both with the way they market AND the way that response integrates into the service they provide.

Apple is a great example of this based on their image as the “hip, trendy” electronics company. People see a sleek, sophisticated Apple product in an equally compelling ad and they can’t help but think, “That looks really cool; I want that.” The same goes for a company like Amazon.com, albeit from a different angle. The way that Amazon has embraced personal marketing, both regarding the advertising it creates and with regards to the personalized recommendations that each user enjoys, makes them think, “I like Amazon; they get me.” That type of emotional connection is something you just can’t put a price on.

They Live Up to What They Promise

All of the best brands with serious longevity share the fact that they live up to the promises they make in their marketing materials. This comes from a deeper understanding of not just the people they’re trying to attract, but who those people are and what they want. These brands know how to communicate with their target audience and, as a result, don’t just live up to their promises, but they know how NOT to make a promise they can’t keep.

Take FedEx, for example. Entrepreneur.com recently cited FedEx as a brand with an incredibly strong corporate identity, owed largely to the fact that it’s operations are so incredibly efficient. FedEx is a brand built on trust, and the road to trust is paved with promises that have been kept in the past. FedEx is seen as an incredibly reliable service, and people in need of shipping rank FedEx favorably in that regard. This creates something of a self-fulfilling prophecy – a symbiotic relationship that only strengthens over time specifically because FedEx knows what its audience wants and it knows how precisely to give it to them every time.

Once again, Apple is another example of this idea in motion. They promise products that “just work” and have historically delivered on that promise time and again. This has made them not only one of the most successful brands in the world, but also one with serious longevity in an industry where companies come and go like the weather.

These are just a few of the core qualities that all brands with longevity share. Remember that in the grand scheme of things, brands come and go all the time. Creating a brand is easy, but if you want to make sure that your brand stands the test of time, you need to focus on offering something truly unique on an ongoing basis.


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How to Court the Younger Generation: Creating the Future of Your Business by Marketing to Millennials Today

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In the world of marketing, there’s a natural instinct to go after certain segments of the population when marketing because those are the ones that spend the most money. That may be good for short-term gains, but any business worth its salt will always be thinking about the future. And regardless of the industry, the future can be summed up in one beautiful little word: millennials.

Commonly defined as anyone between the ages of 18 and 34, or those born in 1982 and up, millennials outnumber baby boomers by roughly a half a million people. They’re the largest generation in the country right now and, make no mistake, the one that the very future of your business will be based on. If you want to court the younger generation and create a solid future for your business, you’ll need to keep a few key things in mind.

Treat Them as Equals

No consumers like to be talked down to or told what to do – but this is especially true with the younger generation. Millennials can absolutely sense “marketing speak,” so don’t think that is going to buy you a whole new generation of customers, either. According to one study conducted by Kissmetrics, 89% of millennial buyers trust recommendations from friends and family members MORE than any claim that a brand could make.

Use the same tactics that you’ve been using to win over older generations, but reconfigured for a younger audience. You should still be putting helpful, relevant content that appeals to the people you’re trying to attract out into the world, but keep in mind that what is relevant to a 20-year-old isn’t necessarily the same thing that’s relevant to a 65-year-old. Buyer personas are going to be hugely valuable in this regard to help guarantee your eye is always “on the prize.”

You’re a Combination Marketer Now Whether You Like It Or Not

Marketing to specific groups of people has always required putting your efforts to where those people actually are, and millennials are no different. Millennials are nostalgic about direct mail and appreciate personalized invitations and advertising they can hold. Likewise, according to a study conducted by Nielsen, more than 85% of millennials own a smartphone. That means your digital marketing needs to marry with your print marketing for the best way to meet your audience where they’re at.

When used together, print and digital marketing successfully target that coveted younger generation. Think digital with a smartphone-based loyalty rewards program, and connect that program to your direct mail campaign. Social media is another obvious example. Tie your social media efforts with posters, envelopes, and more to create the best of both worlds.

At the end of the day, it’s important to remember that no business – regardless of what it is – is time-proof. If you focus all of your efforts on one particular age range or demographic, you run the risk of accidentally making yourself irrelevant when that group invariably ages out of the product or service you’re offering.


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Moving On Is Not Giving Up

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No business professional in history has ever had a perfect record. Though you only set goals for you and your team with the absolute best of intentions, sometimes you may find yourself coming up short. Everyone from our parents to our teachers to our mentors has told us over and over again to “never give up, never surrender,” when sometimes, you have to do exactly that. The key to coming out all the better for it involves knowing how to identify that moment of surrender when it does arrive, and how to best handle what comes immediately after.

Look for the Signs

The best way to know when to move on from an objective in the world of business involves taking a moment to observe the world around you. How much time have you spent trying to accomplish this task? How much money have you expended trying to do this one particular thing? Would that time, money, and energy be better served if it were reallocated elsewhere within your organization?

At a certain point, you will start to feel diminishing returns. You’ve put your all into something and success is still just as far away as it was when you started. When you have that moment of clarity, the best thing you can do is look deep inside yourself. Do you really believe that you can pull off the challenge in front of you, or do you just hope that you can? If you fall into the latter category, it may be time to move on.

Moving On Doesn’t Mean You’ve Failed

The most important thing to understand about when you should move on from an objective you just can’t quite accomplish has to do with what happens next. If you set a goal for yourself and come up short of that mark, a lot of things have happened -but failure is not one of them.

You can choose to look at it that way if you’d like, but doing so actually limits the power of the moment you have in front of you. Maybe the objective you set wasn’t the right objective in the first place, and everything leading up to this point has been trying to tell you that. It’s a scenario you can see time and time again with some of the most successful companies in the history of business.

Apple, for example, had been set on releasing a smartphone for years – or at least a “smartphone” as per the definition of that term in 2005. Steve Jobs and his team tried, and tried and tried again, and eventually released something called the ROKR E1, a phone designed in conjunction with Motorola that was basically a regular phone with iTunes connectivity built in. The results were disastrous – a rare black mark on Apple’s otherwise top notch record. Jobs had set a goal for himself and had failed to accomplish it the way he wanted.

But instead of saying “Apple and phones are not meant for each other,” he thought differently. He realized that what he really failed to do was find the right hardware company to partner with to achieve this goal. He realized that by handling both the hardware and the software in-house, he could get at what he really wanted in the first place. Apple would go on to release the iPhone less than two years later and the rest, as they say, is history.

In the End

When you set goals for yourself, you always do so with the best of intentions. Remember that Albert Einstein’s definition of insanity was “doing the same thing over and over again and expecting different results.” Sometimes, you need to know when to try harder and when to try something else. However, moving on doesn’t mean that you’re a failure – it just means that you’ve cleared away the cobwebs, reassessed your priorities, and are ready to redirect that energy into something much more positive and appropriate.


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What’s in a Leaf?

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If you enjoy watching the leaves float down during the fall season, you probably already know that just like snowflakes, each tree’s leaves are individual and unique. Unlike snowflakes, though, leaves can tell you from which tree they came, and fortunately, there are many resources available to you for identifying trees by their leaves.

Knowing more about your surroundings is important, and it can apply well in a work situation.

Discovery

An excellent resource for identifying trees will take you on a journey of discovery: from the color and shape of the leaf to how many points it has, all to learn more about the tree it came from. It might go on to identify the type of bark, the size of the tree, and more to help you determine which tree you are looking at.

There are many ways you can apply this strategy of discovery with your customers, especially if they are repeat customers. If you think about each customer as if they were an onion with many layers to uncover, you can view each contact with them as an opportunity to peel away one more layer.

Learning

Your customers are individuals with unique personalities, family issues, work challenges, and styles of doing business. You can work on strategies to uncover more information about your customers to help cement a relationship with them. Customers who like you and enjoy your relationship are more willing to continue to do business with you and become loyal repeat customers.

Depth

Depending on how you maintain your customer records, there are different methods of collecting and retaining information about your clients. In an article, “7 Ways to (Really) Know Your Customers,” it offers several suggestions for small businesses to get to know their customers better including gleaning social data from sites such as Facebook.
By getting to know your customers better, you can anticipate when they will be spending, what triggers a purchase, and how you can be proactive in contacting them for their triggers. As you learn more about your customer, you can apply your knowledge to help them better manage their relationship with you, potentially saving them money in the long run. For instance, if they are buying their products when needed, but you see a pattern, you can sell them a larger bulk amount on a periodic basis saving them money and securing the purchase for your account.

Knowledge

Knowing your customers will allow you to separate the A and B level of customers from the one-time business customers. As you develop your relationships with your clients, you can grow your business in depth. Then, using similar methods, seek out new business and begin the process again.


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Tips for Nurturing Existing Sales Leads

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While bringing new leads into your business is always important, sometimes it’s not the “be all, end all” solution to your bottom line. Remember that according to most statistics, an incredible 90% of new prospects are merely in the “browsing” stage of their relationship with your company – meaning that they’re not quite ready to buy. Out of every new lead you bring into your business, only 5% are ready to pull the trigger – if that. While you may think this means you have to work harder to bring in a higher volume of leads (this is a numbers game, after all), try a different approach. Don’t forget about the leads you already have.

If you want to get better at nurturing your existing sales leads to get them ready for that ever-important purchase, you’ll want to keep a few key things in mind.

You Are an Authority. Don’t Forget This

When people think about nurturing leads, one of the qualities required for a solid relationship is one of trust. Never forget that you’re not just selling a product or service – you’re also selling yourself. People are a lot more willing to spend money with your company if they trust that you know what you’re talking about.

Don’t JUST hit your prospects with sales materials over and over again; this isn’t lead nurturing, this is badgering. Instead, try sending helpful, well-researched content in their direction as well. You need to be focused on establishing that you know what you’re talking about. People aren’t just going to take your word for it. When you spend time positioning yourself as an authority and focusing on the other qualities of lead nurturing as well, people will begin to see you as the solution to their problem when they do feel comfortable enough to buy.

Don’t Just Make Contact When You Have Something to Sell

One of the biggest mistakes that a businessperson can make involves only remembering that a lead exists when you need to increase your sales numbers for a particular quarter. Nurturing leads requires you to keep in mind that you’re talking about more than just line items on a balance sheet – prospects are living, breathing people who don’t like to feel used.

As a result, make an effort to reach out to a few of your potentially higher quality leads even if you’re not pushing a new product or service. Thanks to the power of social media, this is easier than ever. Even a quick Facebook message on a birthday or at Christmas will go a long way towards strengthening (and increasing the ultimate value of) your relationship.
These are just a few of the many reasons why it is so important to nurture your existing sales leads. None of this is to say that you should stop focusing on bringing in new leads and turn 100% of your attention on existing ones. As always, success requires you to strike a delicate balance between the two. But if you let the majority of your existing leads lay dormant for too long, you’re burning a lot more than just potentially important relationships. You’re leaving a lot of money on the table at the same time.


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