If you own your own business, you might be like us.
We loved what we were doing so we started our own businesses to have more freedom, more control, and make more money.
Hi, we’re Michael and Brian, co-founders of Mortgage Systems USA. Over the past 24 years, we’ve owned 7 businesses in 6 different industries.
But it’s not always roses for us business owners, right?
As a business owner, it can be difficult growing your personal income year after year.
Many business owners hit a plateau and some even earn less despite working more hours and company revenue increasing.
Have you heard of cross-industry expansion?
It’s when a company expands into a different industry, one with some synergy with its core business, and experiences explosive growth, almost instantly, by selling the new product or service to the company’s existing client base.
Look around and you’ll see it everywhere.
Those are some big brands but you see this strategy working for small businesses too.
The list goes on and on, for big names and smaller local businesses.
The profit-making potential of the trust you’ve earned from your clients is often overlooked or underestimated.
Why is it so powerful?
Because it’s always easier to sell to someone who already trusts you, instead of having to sell to a cold stranger.
And, it’s cheaper too. It costs much, much less to grab the attention of a client than it does cold strangers.
As a business owner, you know that easier sales coupled with low acquisition costs means more money in your pocket at the end of the day. It’s that simple.
But what if your clients have bought everything you have to offer, or they don’t want what you have left to sell?
That’s where cross-industry expansion comes in. When you expand into a complimentary industry, you all of a sudden have something new to offer your trusting and loyal clients.
Let’s say you have 1,000 clients.
You expand into another industry and offer your clients your new product or service.
Let’s say that 50 of them buy your new product or service every year.
And your profit from each sale is $3,000.
You just added $150,000 a year in profit using cross-industry expansion without adding a single new client.
You could expand into an industry that turns out to be a nightmare and pays pennies, or you could expand into one that’s a joy and doubles or even triples your current income.
Here are 4 steps to the good stuff:
Step #1: Pick something easy to sell
The easiest thing we can think of selling to your client base is something they were going to buy anyway.
This way, you don’t have to “sell” or talk them into anything.
Step #2: Pick something easy to fulfill
Look for something that’s fulfilled by third parties. This way, you don’t have to bring on more staff to deliver the product or service, or learn everything about another industry.
It’s even better if the third parties shoulder the risk and do the work at no cost to you.
Step #3: Pick something with a big price tag or big commission
Would you rather deposit a $100 check or a $10,000 check? Silly question but it drives home the point.
Expand into an industry with big ticket items or big commissions, instead of little ones.
Step #4: Pick something with big profit margins
What good are big checks if your costs are sky high? Everyone else ends up making good money but you.
If you pick something with low expenses relative to your gross revenue, you can turn a profit with just a few transactions. This way, there’s no risk.
No matter how long you’ve been in business or how much income you’re earning now, we hope this has been helpful and given you something to think about.
If cross-industry expansion has piqued your interest, you may want to consider our program.
Here at Mortgage Systems USA, we’ve developed the only complete, turnkey profit center available for cross-industry expansion into the high demand mortgage industry.
In as little as 60 days, non-mortgage business owners are able to make money by offering mortgages, home equity loans, and reverse mortgages to their client base.
With zero prior mortgage experience and without having to become a mortgage expert.
We call our program the Mortgage Facilitator and for many businesses – such as insurance brokers, divorce and probate attorneys, trust and estate planners, financial planners, tax professionals, real estate brokers and agents – it is the ideal cross-industry expansion.
Our Mortgage Facilitator program provides these competitive advantages and benefits:
If you’re a business owner and this looks interesting to you, click the link below and request a free, no obligation discovery call.
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478.357.3564
hello@mortgagesystemsusa.com
This is not legal or tax advice. Consult your attorney about legal matters. Consult your tax professional about tax deductions. Consult state licensing authorities about licensing matters. Earnings and income statements are estimates based on our experience. There is no guarantee you will achieve similar results. Any earnings or financial benefits can vary based on your individual circumstances, skills, and the specific actions you take. You should always conduct your own due diligence before making any financial decision.
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