When I was growing up, we NEVER talked about money – other than we never seemed to have enough of it. Maybe you can relate. Out of college I got a corporate job and had a paycheck, an expense account and paid vacation. Sounds cushy, right?
Then I quit my job before I had another one and became a reluctant entrepreneur by taking a straight commission job paying my own expenses. My income lived and died by looking at the numbers every day… and every week. What a reality check.
Here’s what I learned – when you focus on just ONE number, everything takes care of itself. So what is it and how do you get to it?
As you may remember, I gave a well-designed, edu-taining Group Talk to gyms-full of Kindergarten through 8th Grade Kids to see if they wanted a “Cooool Schooool Jacket” with the school mascot printed on the front.
As a “Direct Sales Rep” the numbers were crucial because it was the only way to know the lead-time our factory needed so the jackets could be made and delivered in three weeks. So the company made it easy and gave us only one number to focus on everyday.
What was it?
The Number 3
When I gave three “Sales Talks” to a school principal or PTA president a day that agreed to put me in front of their students to do a “Group Talk” – everything else flowed from there.
Here’s how this works for you – it’s a two-step process:
Step 1: The “Sales Talk” with a potential sponsor who will host you to give your Group Talk to her/his group (your potential clients).
Step 2: Your “Group Talk” to a small group of the RIGHT prospects.
And here’s what so cool about this process. When you do this the right way, just by association with the sponsor, you automatically create the Know, Like, Trust factor and close more sales … immediately.
Back to my original question: “Are You Going To Give Yourself a Raise This Year?”
Here’s how. Look at the following example and fill in your own numbers.
10 Potential Sponsor Sales Talks per Month
X 20% Closing Ratio = 2 Group Talks a Month
10 Potential Sponsor Sales Talks
Divided by 4 weeks = 2.5 Sponsor Sales Talks a Week
= .5 Sponsor Sales Talks a Day
Average Client Value = $750
2 Group Talks per Month
X 8 prospects = 16
16 X 20% closing ratio = 3 New Clients per Month
3 New Clients per Month
X Average Client Value of $750 = $2250.00 Raise Per Month
Joy In Business Everyday (J.I.B.E)
When an appointment reschedules or cancels use the extra time to catch up on a webinar you missed or take the dog for a walk. It’s a break in your routine and you may just learn something!