Posted by JuJuan Buford @JSBUFORD
WRITE DOWN THE PROCESS
In order to curate processes that work, you must identify the habits that work. This lays the groundwork for you, the self-employed entrepreneur, to grow from a team of ME to a team of WE. In other words, transiting from being a practitioner or creative that is owned by their business, to becoming a business owner, building an asset (an organism that breathes, produces, and re-produces) that generates revenues independently of you having to do everything.
Your process is the track you run on. Every professional, entrepreneur, and business has a process. If you don't have a process, that is your process. Processes allow you to inventory your RGAs (revenue-generating activities) systemically, and the predictability of your revenues is found in your RGAs. It is where the fodder is found to begin to make projections about your profitability in the future.
Not having a proven process is tantamount to waking up, jumping in your car, and attempting to drive to an overseas destination you've never visited before without a map or a compass. For the purposes of this exercise, I'm going to provide a simplified process that applies to most business models in general.
How do I ensure that new people are learning about my business on a daily basis?
- Social Media Campaigns
- Inboxing or Direct Messaging Prospects Online
- Cold Calling
- Referrals
- Email Campaigns
- Door Knocking
- Networking Events
- Open Houses
- Newspaper or Online Trade Publications
- Etc.,.
How many new people do I need to introduce to my business on a daily basis for it to be viable? Some in the social media world, refer to this as impressions.
What kind of tools or marketing artifacts am I going to use to introduce my business offerings?
Once a new prospect is aware of my services or products, how do I help them make an educated buying decision?
- Landing Pages & Sales Funnels
- Invitation to a Zoom Presentation or Webcast
- Schedule a One on One Appointment
- Social Media Tutorial or Presentation: YouTube, Instagram, SoundCloud, etc.
- Website Invite to a Demonstration
- Seminars
How many guests (people who have seen a presentation of some kind) must learn about my presentation in order to onboard a new client?
Here is a simplified formula I still employ to this day, when I’m attempting to assess the amount of work and resources I will need to employ to predict and meet expectations. This formula is not ideal for all entrepreneurs and businesses; however it is highly useful for micro-business owners and sales professionals.
Simplified Formula for Sales Success
- What is your income goal per month:
- What is your average compensation / NOI (net operating income) per sale:
- What is your closing percentage?
- Weeks per month (52 weeks/12 months) = 4.33
- What is the number of days per week you will work building your dream:
Example:
- Income Goal $8,333.33 / divided by,
- Average Compensation $300 / divided by,
- Closing Ration 30% / divided by
- Weeks per month 4.33 / divided by
- Chosen Number of Work Days 5
- = 4.5 presentations daily
When you acquire a new client, what steps am I going to take to make sure they are a happy client?
- What is the System for Following Up to Confirm Their Satisfaction?
- How Do I Confirm or Deliver the Guarantee?
- How Do I Ensure Services/Products are Meeting Expectations?
- How Do I Continually Engage My Client After Their Purchase?
What process do I have in place to obtain referrals on a consistent basis?
- Email Campaigns
- Phone Calls
- Text Messages
- CRM - Automated Messages
- Do I have a Script?
- Social Media Group, Membership Club, Subscription
Over the course of time, you want to be very intentional about documenting your scripts and inventorying what strategies and tools you are using. Why? When it’s time to grow from a team of ME to a team of WE, this process will reduce your hiring, training, and supervisory expenses. Plan with the end in mind.
Give your process or approach a name. In one of my organizations, I refer to it as Our Uplifting Service Agreement. Once you’ve named (branded) your process, at some point you’ll want to create some type of marketing artifact, logo, symbol, or image that people can identify with your process (prospects, clients, and employees alike).
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JuJuan Buford, Managing Partner
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