Best Buy’s Tip For Getting Rid Of Money Worries

By: Dan Kennedy on: May 23rd, 2013 3 Comments

In April, Best Buy, who has struggled financially in recent years, announced a new partnership with Samsung.

While Samsung has long had products scattered throughout Best Buy stores, they are paying Best Buy to put their products in the spotlight.

Samsung says that it will open 1,400 “mini-stores” inside of Best Buy stores by the end of June.

Called a “Samsung Experience Shop,” the mini-store will have an entire section devoted to Samsung products such as the smartphones, tablets, cameras, laptops, etc. and will include customer support for Samsung products similar to the “Genius Bar” at Apple stores.

1,400 mini-stores opening within just a couple of months. That is some massive action. And just the first step in Best Buy’s new “mini-store concept” which it plans to expand to more brands and products. The goal is to encourage more store visitors and a higher percentage of them to whip out their wallets and buy.

Moreover, it’s an attempt to move more traffic to their stores and away from online competition.  The basic strategy is to dedicate more space to higher-margin products and eliminate things that don’t sell. As for Samsung, this was a quicker and relatively less expensive way to broaden their retail footprint and move towards providing their consumers what they want which is better customer service.

There are two important strategies at work here. One is the massive action they are taking. The second is something many miss—and that is to focus on the things that will produce the most value.

It’s not uncommon to see big companies roll out a huge, massive campaign like this.

But as an entrepreneur and small business owner, massive action surrounding focused efforts like this – often go undone, even though it’s these types of efforts that can create considerable growth and huge profit. Especially when, like Samsung and Best Buy, it’s focused on things that will increase your business and profits the most.

The past two years, the GKIC Marketer of the Year at SuperConference, won because they took massive action in a rapid focused effort; creating and executing multiple campaigns and taking advantage of multiple opportunities all at once.

For example, this year’s Marketer of the Year winner, Jimmy Nicholas implemented 20+ direct mail campaigns, and in one year’s time, transformed his business and life.  Jimmy took his business, which had lost money for three consecutive years, to a 600% increase in profits.

It’s not just the Marketer of the Year that you’ll see this behavior—and results. If you talk to the most successful business owners, it is this concept of taking massive action that many credit for doubling their incomes (or more) and providing breakthrough business moments.

For those who don’t take this step, the common excuses are that they can’t afford the time or designate the resources to do something like this. Or they are a business of one and “wear all of the hats” and they have their priorities cast in stone.

Virtually every business owner has at least one time when, for whatever reason, they are cash strapped and feel resourceless. And if not money strapped, they are “time strapped” and can’t figure out how to put more hours in the day to get everything done.

The fact is, there is always something you can do. Let me say that again. There is ALWAYS a way to get things done.

Of course, you don’t want to be foolish about spending your time or your resources…because let’s face it, unlike the big, dumb companies, you can’t afford to waste either.

So the first thing you need to do is figure out exactly what you want and where you want to go.

When I meet with clients privately, I discuss the “picture” of their business and life as they want it to be…a few years, five years, sometimes ten years into the future.

One of the things I learned from “Psycho-Cybernetics” is that the human mind needs the destination to navigate and move toward.  The clearer the destination, the better and faster the progress.

You CAN make a lot of headway at a rapid pace in life, but still not be moving toward a destination you want. I know. I’ve done that more than once. So the first thing to do to get your business moving in the right direction is to give careful, serious thought about where you want to go, what you want your business and life to be like.

Once you have that in place, get resourceful and put a plan in place to take massive action in a clear, focused effort on what will produce the highest possible results.

In my book “The Ultimate Marketing Plan” I tell a story of a young chiropractor who was getting ready to open his new practice—with at least a dozen competing chiropractors surrounding his office that were already established. He spent a full month prior to opening his office going door to door.

He knocked on 2000 doors and introduced himself, asking the residents about the area and their health interests and making friends. From the first day he opened his doors and started seeing patients, his practice prospered. In fact, in his first year, it outperformed all the established practices in the area.

A GKIC member strapped for cash is looking into getting an intern from the local college who will work for free, giving her more time so she can implement more in her business. [Not yet a member? Get two months free with our most incredible free gift ever here.]

Best Buy’s new CEO Hubert Joly could have whined and complained and made a lot of excuses about the mess he inherited.  He could have continued to do business as usual and watched Best Buy continue down a losing path. But instead he was resourceful.  Looking at what Best Buy had and what it was lacking, he came up with an innovative and massive campaign  that could provide a huge win for not only Best Buy, but for its vendors and customers as well.

It is inexcusable to be without resourcefulness. This is about character, not cash, nor time.

There are millionaires, multi-millionaires and billionaires that started with nothing. And everyone has the same 24 hours in a day.

Are you going to continue down the same path you’ve been heading, watching others pull ahead while you fall further behind , wondering what happened?  Or are you going to figure out how to take advantage of opportunities and act on ideas quickly, so you can start experiencing the kind of big breakthroughs that will help create the kind of money that buys autonomy?

Click The Picture Now To Discover The 6 Steps To Building A Successful Business

NOTE: If you are feeling overwhelmed and wondering how to take massive action in your business, Eben Pagan, who runs multiple REAL businesses and generates serious 7-figure numbers just released a new report and video which reveals five simple steps you can take TODAY to dramatically increase your productivity.

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Dan Kennedy is internationally recognized as the 'Millionaire Maker,' helping people in just about every category of business turn their ideas into fortunes. Dan's "No B.S." approach is refreshing amidst a world of small business marketing hype and enriches those who act on his advice. For more money-making marketing tips, tactics and strategies, go to

3 Responses

  1. Liz J says:

    Dan, thanks. You are just the stiff black cup of coffee and cold shower that my business and I needed this morning. Thanks for all the times that you really do wake me up from my unconsciousness and get me moving in the right direction.

  2. Lauren Meyer says:

    I was just saying that Dan Kennedy and Eben Pagan have lots of similar advice. Glad to see the cross-pollination here!

  3. Cynthia Nickeas says:

    Best, most concise kick in the behind I’ve ever read! Thanks for helping me re-calibrate my thinking, re-focusing my energies.

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