My hope is to help those who want (and need) the help and guidance through the BUILD program.
Here we'll talk about one of the two most important things our business needs. Traffic.
(The other is cash flow, but that's a result of having enough traffic, and converting that traffic into sales, but that's for another day).
It doesn't matter how great our work is if no one knows about it.
Whether you call it traffic, awareness, leads, prospects, or any number of things, what we're talking about is getting enough of the right people to discover you, engage with you, and enter into your world.
If you went through the wants & needs process, you will know exactly how much your business needs to make in order to provide the lifestyle you want, and you can work backward from there pretty easy to get clarity on how much traffic you need.
For example - if you are a freelance videographer creating videos that average $2,500 to produce, and you need to make $10,000 per month for yourself, once you add taxes and overhead and profit margin, you determine that your business needs to make $15,000 per month.
That's 6 projects per month to cover what your business needs.
Now, how many people do you need to talk to to get 6 new projects? If you have recurring monthly clients then maybe you only need one or two more per month.
If you can "convert", i.e. "sell", one out of every four people you talk to about doing work for them, then in order to get 6 new projects, you need to talk to around 25 people. That's at least one per working day in an average month.
How many people do you currently talk to every workday?
If the answer is less than the number you need in order to hit your sales numbers, the projects aren't magically going to appear, and you'll end up wondering why you're short this month.
One other example - say you sell digital content like an online course.
What percentage of people that visit your website end up purchasing from you?
If it's 4%, and your course costs $200, how many people do you need to visit your site in a month in order to make $10,000 in sales?
($10,000 / $200 = 50 sales, which is 4% of 1,250)
You need 1,250 visitors to come to your site.
If you have less than that, you won't hit your sales from the month.
As you go through this process you can start to see how straightforward it is, and how a ton of clarity comes from this process.
If you've built something great but it's not selling, look at the number of leads or traffic.
If it's not enough to get the sales you need for your business and your lifestyle, then focus your effort over the coming weeks on getting more leads and more traffic.
You do this through marketing, advertising, content, and the like.
(Again, that's all for another day).
Tonight I'd encourage you to set your goals for the year (you can use this complimentary training to get started) and really dive deep into the process we've been discussing this week if you're looking to build a business in 2021.
I'd love to join you on that journey and help you navigate the path and the obstacles to help you reach your goals. You can sign up for the BUILD program - a 12-month coaching program with weekly guidance, monthly live training, a community of peers, and more.
Hope to see you there!
There's one more post in this series, and you can read that here.