Hello and welcome to my business basics series of posts about starting a business and my A – Z of what I consider to be the basics that you need to be working on. This is the fourth post in the series so obviously – D
You can catch up with A and B and C here.
D is for Direction and Destination
It has often been stated in self-help business books to begin with the end in mind. This is absolutely necessary if you are going to succeed in business and this is why…
Having a clear idea of your destination will keep you on track when you get distracted (and you will get distracted). You are going to need a firm idea of where your business is headed from day one.
For example, let’s assume you want to be making in excess of £100,000 3 years from now, That is an outlying plan. It needs to be more specific. This would be much better…
By June 2022 my business will be turning over in excess of £100,000. It will achieve this by a) generating 90 leads per month b) converting 30% of those leads into paying customers and c) increasing the average spend of each my customers over this period of time by 150%
Can you see that you now have clear destination with clear directions on how to get there? This is going to make it 1000X more likely that you will actually meet your objectives – don’t you think?
I know from experience, and from the experience of the 1,000 or more business that I have helped to grow over the last 5 years that this goal setting is extremely important. I always know which of my clients will meet their objectives because they are the ones who set specific goals.
Don’t worry if you don’t know how to set goals. I have created a totally free mini-course to help you out. You can access it right here. It will help you to create goals that you simply can’t fail at.
Okay, so hopefully you now have an amazing goal (or two or three) that you can totally focus on and turn into reality. Did you like mine by the way?
“By June 2022 my business will be turning over in excess of £100,000. It will achieve this by a) generating 90 leads per month b) converting 30% of those leads into paying customers and c) increasing the average spend of each my customers over this period of time by 150% “
This was an actual goal that I set myself and was the inspiration behind my six-figure system. This is what I did…
I realised that the strategies I had been using for the last 10 years or so could actually be joined together to make them far more powerful so that they could bring about the results I wanted much more quickly.
I wanted to increase my leads from 30 – 90 per month. I used the free strategies that I have always used to help me achieve this. Then…
I wanted to increase my conversion rate from what was an average of 20% to a slightly better 30%. I didn’t want to set myself up for failure so I just did this in small increments to see what would happen and if it could be achieved.
Again, I used the free strategies I had always been using to help me to do this but this time I was more focused on exactly what I wanted to achieve and this led me to experiment more with the strategies to see if I could push the boundaries a little.
Next I needed to increase the average spend of my customer from £200 to £500. Some of my customers were spending just £60 on an hours coaching and others were spending £2,000 on a mentoring programme therefore my average spend was about £200 per month.
I needed them to be spending on average £500 per month and this was an increase of 150% – something at the time I thought unlikely to pan out. But I was wrong. I got the increase in average spend by finding new products and services to add to my business and new ways to market them. That was all it took – a clear destination and a clear set of directions to get there.
I would love to tell you exactly how to re-create this system in your own business but it is too much to include in this post. However, I have created a totally free step-by-step guide that shows you exactly what I did and how I did it so that you can do it too. You can get your free guide by completing the form below.
So, there you have it. With a clear idea of your destination and a clear idea of how you are going to get there you will stand a much better chance of arriving at your destination.
I hope you have enjoyed this post and have made good use of the free guides I have created for you. I will be back next week with the next letter in the alphabet which is E. Make sure you look out for me or why not subscribe to my blog and I’ll drop you a quick email when I’ve published it.
Until then, have fun with your business and go and set some great goals that will help you arrive at your destination sooner rather than later.