Acres of diamonds…
One of the most interesting Americans who lived in the 19th century was a man by the name of Russell Herman Conwell. He was born in 1843 and lived until 1925. He was a lawyer for about fifteen years until he became a clergyman.
One day, a young man went to him and told him he wanted a college education but couldn't afford it financially. Dr. Conwell decided, at that moment, what his aim in life was – besides being a man of the cloth, that is.
He decided to build a university for unfortunate, but deserving, students. He did have a challenge, however. He would need a few million dollars to build the university. For Dr. Conwell, and anyone with real purpose in life, nothing could stand in the way of his goal.
Several years before this incident, Dr. Conwell was tremendously intrigued by a true story – with its ageless moral. The story was about a farmer who became tremendously excited about looking for diamonds.
Now although this farmer was already reasonably wealthy, he got so excited about the idea of millions of dollars worth of diamonds that he sold his farm to head out to search for his fortune.
As the years passed by, he wandered all over the continent searching for diamonds and wealth, which he never found. Eventually he went completely broke and threw himself into a river and drowned.
Meanwhile, the new owner of his farm picked up an unusual-looking rock about the size of a country egg and put it on his mantle as a sort of curiosity.
A visitor stopped by and on viewing the rock practically went into terminal convulsions.
He told the new owner of the farm that the funny-looking rock on his mantle was about the biggest diamond that had ever been found. The new owner of the farm said, “Heck, the whole farm is covered with them” – and sure enough it was.
The farm turned out to be the Golconda Diamond Mine...which has produced some of the most famous diamonds ever seen. The original farmer was literally standing on ‘Acres of Diamonds’ until he sold his farm.
Dr. Conwell learned from the story of the farmer and continued to teach its moral. Each of us is right in the middle of our own ‘Acre of Diamonds’, if only we would realise it and develop the ground we are standing on before charging off in search of greener pastures.
Dr. Conwell told this story many times and attracted enormous audiences. He told the story long enough to raise the money to start the college for underprivileged deserving students. In fact, he raised nearly six million dollars and the university he founded, Temple University in Philadelphia, has at least ten degree-granting colleges and six other schools.
When Doctor Russell H. Conwell talked about each of us being right on our own ‘Acre of Diamonds’, he meant it. This story does not get old...it will be true forever... Opportunity does not just come along – it's there all the time – we just have to see it.
So how does this relate to you and your business?
Well, by far and away the most lucrative part of your business is your customers…
It’s your customers who are your own ‘Acres Of Diamonds’.
No surprise there then, yet 99% of organisations fail to tap into the most lucrative part of their business.
Once a new customer is acquired it’s your duty to enrich their life by giving them more value. More services. More products. More benefits. This is known as ‘Back-End Selling’. And when this is carried out successfully (it isn’t hard when you know how!) you’ll begin to realise the potential your business has just waiting to be developed.
Strategies such as up-selling and cross-selling, for example, will enable you to increase the profitability of each customer.
As long as you look after your customers, they’ll keep buying from you – but you must keep selling to them – or someone else will!