What specific results would make you happy with business?
The reason I ask, is because many business owners tell me that to be “happy” they would like to have “more sales.”
However, when I ask them how many sales would make them happy, they simply state that they want as many sales as possible!
While this is great in theory, at the end of the day, without specific target sales numbers, its hard to be happy with any progress being made by your business.
At the same time, how can you really measure whether you are on target, behind target, or ahead of target, if you don’t HAVE a target for sales and profits in the first place?
In my experience, the businesses that do the best, have established goals they are looking to hit.
This way the owners and their teams, are all on the same page for what specific targets need to be reached and by when.
If you inform your team that you want to see X number of sales by a certain time period, and they are only at Y amount…then both you, and them, know that they did not meet expectations.
This is much better than simply “wanting as much as possible,” and then being disappointed with the results reached, which they had no way to measure themselves against.
Are you aware of your specific sales goals and targets?
Are your team?
If not, then this should be addressed as soon as possible, so that everyone is on the same page and working towards the same common goal.
Here’s a few steps you can start with:
1. Identify how many new clients you’d like to bring on board in the next 90 days.
2. Identify how many prospective clients you need to speak to (on average) to sign up one new client. This is often called your conversion rate. If you don’t know…start tracking it and start with 5 prospects for every 1 client for now and adjust over time as you get real data.
So for example, if I need to talk to 4 prospects on average to sign 1 new client, my conversion rate is 25%.
3. Then multiple the number of prospective clients you need to speak with to get 1 client by the number of clients you want to get. This is the number of prospective clients you need to talk with to reach your client goal.
4. Then multiple the number of prospective clients you need to talk to by 3. This is the number of personal invitations you need to extend for consultations. Track this too and you can adjust this over time based on your real life experiences.
And now I would like to invite you to claim your copy of my new training “3 Mistakes Business Owners Make That STOP Them Getting More Clients … And How You Can Avoid Them” when you enter your name and email address below.
You’ll learn the 3 common mistakes most business owners make that keep them from getting more clients and powerful, but easy to implement, strategies to avoid them, recoup more of your time, and learn how to spend it more wisely to get more clients and more results.