Have you bought into the hype that if you create the perfect sales funnel with the right upsell and down sell, you can rapidly earn millions? This is simply not true.
I recently asked a bunch of business owners: “What is one thing that you want to improve on in your business?” The vast majority of the people who responded said that they wanted to get better at selling.
Even the word selling makes some business owners cringe. If I told you that you needed to go out and sell x amount of dollars for your business today, how does that make you feel?
Alright, let’s talk a little bit about trading hours for dollars.
When did trading hours for dollars all of a sudden become so taboo? It’s like people think that working one on one with your customers is a bad thing. “Oh my God! I’m doing too many hours for dollars!”
Can you imagine if every single hairdresser on the planet decided to move to a leverage model and the only way that you could get your hair done is if you took their online program and learned how to cut your own hair?
You’ll never, ever, ever eliminate hours for dollars.
Have you ever caught yourself thinking “I have no business being in charge of this business. I’m not a REAL business person.”
I bet you have because I have heard it multiple times from my own clients. I have something really important to tell you:
There are only people running businesses and there are as many different people and approaches as there are businesses.
If you want to be a successful person running a business, I’ve got great news for you. You can LEARN how to do this.
Businesses operate on a whole bunch of simple principles that you can learn and apply right now.
Here are seven that are near and dear to my heart:
1. Business is an exchange of money for a product or service. It’s not about trading four quarters for a dollar and it certainly isn’t about giving away your products or services for free.
2. Your business is a separate entity from you as a person. Although you may pour your blood, sweat and tears into your business, the success of your business does not reflect back to the success or failure of you as a person.
3. You must sell your product or service and keep more money than you spend to run a profitable business. Selling is NOT a bad thing. You don’t go into Walmart and expect to walk out without paying so why should your business be any different?
4. Business have systems and processes – ways that they operate. The clearer these are crystallized and communicated in your business, the better chance you have for success and growth. When you just wing it, you cannot duplicate what you just did over and over again and measure the impact. Document your processes and create systems for everything. It will keep your customers and your employees happy.
5. Measurements of sales, expenses, profit and cash-flow are how you determine the success of your business. Not by the number of likes on your Facebook page. You cannot take likes to the bank and pay off your mortgage, but you can do that with the profits in your business.
6. Selling is a requirement of any business. You cannot exchange goods and services for money unless someone pays you money. You must sell your products and services to your customer in order to get paid that money. Selling is a skill, a NOBLE skill that can be learned and it does NOT mean you are evil and bad. It’s not selling that makes a person bad, it is the person themselves that does this. STOP letting your mindset around sales keep you broke.
7. Marketing is a function of selling. It is how you let your customer know about your product and service. If you don’t know how to sell – marketing is a waste of time. It is like putting the cart before the horse and then wondering why you are not getting anywhere.
The success of your business is not based on you being a Business Person, it is based on your willingness and desire to learn and be disciplined enough to apply what you learn.
There are millions of business books out there that you can read. There are thousands of programs you can buy and hundreds and thousands of coaches you can hire.
I want you to take the first step and be the owner of a business that knows how to measure what matters, how to create content that will help you to sell, and to actually learn how to sell. Join me in The Pilot To Profit Program and I will teach you.
You can be the successful person who operates your business if you want to be.
In this video I talk more about the art of selling and give you some tips to maximize your sales opportunities. Watch and then tell me….what was the first thing you ever sold?
It started with a pair of jeans.
They were designer jeans and my mom told me she could not afford them. Her exact words to me were “If you want to buy jeans like that you are going to have to find a way to make your own money to buy them.”
For a 12-year-old kid this is a dilemma that cannot go unsolved.
Looking cool and fitting in was important to me because truthfully – I was not a cool kid and often struggled to fit in because of my Crohn’s disease. When you spend a lot of time in and out of the hospital, kids find ways to tease you.
The jeans meant more than just fashion to me. They represented fitting in.
I decided to clean my room and gather up all my old toys and take them to the flea market. My aunt Sandra (who lived next door) donated all her used books and I brought them too. That Saturday, my mom watched in awe as I sold everything I had at my table. I left with enough cash to buy the jeans. I knew that this was how I was going to keep making money.
The flea market became my first job and I continued to fill my table with crafts, chocolates and anything that no longer served me and I continued to make my own money.
I didn’t realize at the time what I was doing was highly unusual for a twelve year old kid. Fast-forward thirty some years and selling has been part of my work ever since then.
One thing is clear to me – when you have a desired outcome, it becomes a lot easier to move towards that end result.
To celebrate the New Year three years ago, I posted a goal video and publicly declared my desire to buy a house in Florida. A year later, we bought a house in Florida.
Thirty some years ago, that desire was designer denim.
Here is the SECRET: It doesn’t matter what it is, it only matters that you have something in mind.
You may choose to pass on all of them because you are not really serious about what it is you want, or you are not clear.
For the person who is crystal clear, these opportunities are like gifts from the universe. As Oprah would say, “luck is preparation meeting opportunity.”
When you are prepared, and you know what you want, and you have the courage to take action, those opportunities are life changing.
This week I would like you to revisit my C.A.S.H Formula and really take some time to think about what your desired outcome is. Where do you want to be in the next five years and what do you need to do differently to get there.
If overcoming the fear of selling, or learning how to be more effective at selling is one of your barriers, I would like to invite you to join The Sales Pilot where I will be sharing my 30+ years of sales experience. You can learn more about that here –> https://www.lisalarter.com/salespilot
After you watch the video, I challenge you to be bold and leave a comment below and tell me, what is that “thing” that you desire that is going to fuel you on this journey?
Sales are the driving force behind any business. If you’re like most business owners, you are constantly looking for ways to increase sales and make more money.
There are hundreds, if not thousands, of books and how-to’s out there on how to get more sales but, the secret is easy and I’m going to share it with you today.
There are really only three simple ways to increase sales.
2. Closing rate
3. Average ticket
Traffic is the number of people who come to your business whether it is traffic to your website, traffic that calls your office or traffic that crosses the lease line for your store.
Closing rate is the percentage of traffic you turn into a sale. For example, if you have ten people who cross your lease line and you sell to one (1/10) = a ten percent closing rate.
Average ticket is your total sales divided by your total transactions. If you have sales of $1000 and you had 10 transactions, your average ticket is $100.
Let’s look at what happens when you affect any one of these three things.
Traffic goes to 20 and you still only close 10%.
You now have 2 sales at $100 for a total of $200 instead of only $100 with 10 people.
If you affect your closing rate and instead of closing 10% you close 20% it would look like this:
Traffic 20 people x 20% closing = 4 sales or $400 in sales.
Now what would happen if you affected the ticket price?
Traffic 20 people x 20% closing = 4 sales x $200 or $800 in sales.
If you double traffic, double closing ratio and average sale you can increase your business by a factor of 800%.
Now that is extreme and I get that, but what if you just affected each by a margin of 10% instead of double? What would it do to your bottom line?
This is an example of the type of thing I work on with my clients who coach with me privately.
Social media is one tactic that helps to drive traffic. The other two are up to you.
Want more? Here’s a Shop Talk tip on another way to increase your sales.
How will you use this to help your business grow?
I remember getting started with my website and my newsletter and telling my VA that this newsletter needed to be a revenue generator and guess what? After a few months, it did generate revenue. About $300 a month. Barely enough to pay my VA and cover the cost of my CRM!!
In fact I emailed Lisa back then and asked her about the business of the business. I wanted to know “How do you make money online?”
Fast forward a few years and I have gone through Lisa’s 6 Figure Teleseminar Program, her Speak to Sell Boot Camp and her Impact and Influence Training in San Diego, California. Who knew back then that I would speak on the same stage along side of her at conferences like eWomenNetwork (I am silently thrilled to know her and think she is a fabulous individual).
I have to say: part of the reason I am able to do this is I learned to do what Lisa so often speaks of “Make money with your thing.”
We all have something we do. Something we are uniquely good at and passionate about.
The problem we often run into is we don’t know how to translate that into a business model, much yet an online business model, a teleseminar, webinar or speaking gig that generates income.
Have you read eMyth? There is a story in this book about a pie maker. She is a fantastic pie maker and she opens a store to sell pies and she becomes the pie maker, the sales person, the cleaner, the accountant – you get the drift. She does it all and soon guess what happens? She hates making pies and she is not making any money from all her hard work.
This happens to so many of us when we start our business because we lack the skills we need to make the business successful.
What I have found is the more I invest in my learning, the busier I get. Every single time I invest in my skill, not only do I make more money in my business but I can serve my clients even better from what I have learned.
I can honestly say that I took Lisa’s program, 6 Figure Teleseminars last year, applied it to a speaking gig (yes, speaking–not a teleseminar) and made $26,000. Now that is some Return on Investment.
Here’s the thing though – I did the work.
I invested the money, studied the model she teaches, applied the model to what I was going to do and tried it. The next time I did it, I generated about $10,000 in sales, and another speaking opportunity from a much smaller audience.
Why am I telling you this? Because I know you may be looking for a way to learn how to make money online too and you may be lacking some skills. I can teach you all kinds of ways to use Social Media to attract the right audience but Lisa is the pro at teaching you about teleseminars and webinars.
She is about to launch a new program and because I benefited so much from what I learned from her, I wanted to share with you.
Yes, my link is an affiliate link. That means that if you decide to work with Lisa, she pays me a small fee because I told you about her. That makes good business sense to me. The thing is – my story is true. I wouldn’t tell you about this program and endorse it if it had not worked for me.
Mine was a Chevrolet Chevette. It was red, it was old, it was ugly, and I wrecked it by driving too fast, losing control, and submerging it in a pond when I was 19. Back then, I had very little appreciation for cars, speed, or safety and to be frank, I am lucky my desire to drive fast did not harm me or someone else!
Later that same year, I got transferred to Mississauga to work at Square One for Fredelle Shoes as the Assistant Manager and because they thought I was a big shot (not really) I got to spend a month at the Novatel Hotel for free while I searched for a place to live. Every night I would walk back to the hotel from the shopping centre and I would see this black Mercedes and I always thought… some day.
Fast forward 23 years and the time has come for me to get my own. I picked up that car on Tuesday and I was struck by the experience that Mercedes creates for their clients. Yes it is a luxury product but I have bought other luxury items with far less appreciation for my business.
There are 14 little things that they did that really impressed me overall. I think there is much to be learned as business owners from this experience as every time you interact with a client or a potential client you are creating the experience of your business.
- Every person working in the show room was professionally attired, friendly and made eye contact with me.
- Each individual I was introduced to extended their hand out to greet me and repeated their name, smiling sincerely.
- Upon arriving, my car was in the middle of the show room so it was the first thing I saw when I walked in.
- I was offered coffee, juice or water when it was time to fill out the paperwork.
- The office I sat in was super clean and organized, there was not even a garbage can in sight.
- When they drove the car out of the showroom they sounded a bell to congratulate me on my new car.
- The gas tank was full, car was clean and sparkly.
- The salesperson paired my iPhone and demonstrated how to use voice controls for navigation and phone calls so I could drive safely.
- The vehicle came equipped with a charger for my phone, that automatically picks up and plays my phone’s music
- They took the time to point out the important things like the spare tire, hidden basket for grocery shopping, divider for pets, and a first aid kit which comes in every Mercedes.
- They threw in extra bonus items that I did not expect like floor mats, and a coat hanger for the back of my seat.
- They complimented me on my new car and let me know that I had made a great choice, and thanked me for my business.
- They offered to take a picture of me picking up my car.
- They gave me my keys with fun Mercedes bling attached! (very girly, and I like it!!)
- There were no glitches – everything went exactly as it should, all my expectations were surpassed.
Each one of these things on its own might not be a huge deal but when you combine them all together and couple that with my desire to drive a Mercedes since the tender age of 19, they made quite the experience for me.
What can you learn from this in your business?
Do you pay attention to the details?
We all need to pay attention to the details, every one of them in our business because it is the details that create the experience. It is the experience that creates the word of mouth marketing, and in this case, world of mouth marketing because I have already shared the pictures of my new car everywhere I can think of!
I’d like to thank Leslie Mise, the Sales Manager at Ogilvie Motors Mercedes Benz for fantastic service!