Rev up Your Revenue: Mind Your Q's and KPI's
How do you know when an opportunity is a good fit?
Most new entrepreneurs spend time chasing opportunities that don’t pan out in a profitable manner.
Most of the time, sales is done case-by-case and doesn't have a qualifying system on whether or not YOU should take the client on.
Why is that?
Well, without focus on sales strategy, scenarios like this may occur:
✅ You pitch your services/product to a prospective and they are interested, but just not in the way you sold it. They ask if you can make adjustments; customize your product or service for their needs. The job gets out of scope quickly.
✅ You’re asked to create an involved, customized proposal, and then asked to change it again and again equaling large amounts of time and energy wasted in the business development process instead of real work impacting the bottom line
✅ You message the client over and over and are pushing hard but the client won’t close the deal.
✅ You figure out the solution to a big problem but have no idea how to cost it out? It’s too big for their budget and they don’t seem to be able to adjust expectations.
👉 This is usually a good signal that this isn't a good fit. These scenarios happen a lot. In fact, for some people they happen time and time again. I have a hard time saying no myself, so I get how hard this is!
You know what they say, “Insanity is defined as doing the same thing over and over and expecting the different results.? “ Yeah, it sure feels that way sometimes.
Make each sales pitch count!
Here are a few things to try instead:
Create a small list of the way you make money. Start at the end of the process ( how will you get paid vs how will you help them) and focusing on opportunities that only pay you directly and in a timely manner. This becomes paramount to your growth. It’s amazing how this shift in perspective can increase your bottom line and you still get to help people. People who respect the fact that business costs something.
Use the money from a side project to fund the work you really want to do. Fine, take that random job or project but delegate as much of the funds as you can to making your dreams come true. Build out that tech, create a marketing campaign, buy more inventory. Bootstrap your way up little by little.
Find a short term loan to get you to the next level- by hiring a salesperson or bringing on someone to do the low- hanging fruit work, while you focus more on sales is actually one of the ways you can expand your business quickly. Sell, sell, sell.
Create a Qualification system that focuses on the ideal customer. You may get other clients that are not the perfect fit, you can determine whether or not to take them on, case- by- case. But if you write down the ideal target, you will have more focused conversations with others.
❗Ok, try some of these tactics and you should see the needle move a bit, stay consistent. Stay focused and work to close some business.
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