Sales, Selling, Recurring Revenue, Customer Experience and New Sales [453]

Ever wondered why your entrepreneurial efforts aren't yielding the sales and growth you envisioned? This podcast episode provides a comprehensive look at the world of sales and its foundational role in business. We debunk the myth of 'build it and they will come' as we venture into the realities of visibility, platform building, and content creation. What type of sales should you have coming in as you build your brand? Listen in and find out!

OMNI is my full visibility system built for CEOs who want to grow online without living on their phone. If you’re ready to be truly seen, more strategic, and unmistakably in demand, head to check out OMNI at www.omniqueens.com 

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Transcript

Speaker 1 0:00

I think it's really important that we understand that sales is so foundational to our business. I think sometimes and I've talked about this during launching and things my launch program and things like that is we think if we build something, they'll come, and when we first start our business, we have it in our head that it's going to be like so magical and so easy. And then we build the thing unless let me rephrase this unless we have been extremely visible, we've already built a platform. People know exactly who we are, people know what we can do for them. All that good stuff, right? So, unless that has already been a factor and you've done all those things, you build it. You think they're going to come, and then you're like and it's like what just happened? There is everyone, and so, although I break down a lot of my programs separately, I'm going to teach sales and I think it's a. I think everybody should do this program for two reasons. Number one if you follow this framework and if you follow what I say and you still aren't getting bites or you aren't making sales, it's a great temperature check to say, okay, this is a raving fans problem. I actually have a really cold audience and I have more work to do through my content right, because I think the majority of our selling is really done there, and I talked about that today in the raving fans program. We are selling every day, whether we're putting an offer out there, whether we're dropping links, whether we're saying DM me, we are selling every single day. And so sales is foundational to our business. It affects the bottom line and the bottom line is not increasing if we are not selling, right. And so there are a couple of ways that I think we can look at our business and look at what's coming in and really, again, temperature check is this way my business looks.

Speaker 1 2:16

The first thing I think every business should have is recurring revenue, because there's nothing worse than starting at zero every single freaking month. So when you have recurring revenue, you're starting somewhere. It's not zero, I mean, it may be $50 at first, right, but you're starting somewhere. So you're not starting at zero every single month. I remember for the longest time it was $500 a month, and then it was $1,000 a month, and then it was $2,000 a month, and then it was $5,000 a month, and then it was $10,000 a month, and then it was $12,000 a month and then it was $15,000 a month and some months went up to 20 and some months went up to 30. But it was like this gradual thing that happened and I had to build it. It was not an overnight process, even though 13,000 of that I did in three weeks. But did I really do it in three weeks? No, I had been working for it for a really, really long time and I think that's sometimes what we forget. We forget about all the effort. We look at people's chapter 20 compared to our chapter two to 10, right, and we don't realize how much there is that goes into all of that. So recurring revenue is huge and that can come in many different modalities. A lot of people do memberships or some type of subscriptions, payment plans. We can have retainer clients. We can also have income stacking right. So all those are options for recurring revenue.

Speaker 1 3:48

I also think that new sales are great because, again, I believe new sales coming in meaning new customers, new clients is a great temperature check. What is my content strategy doing for me right now? What has it done for me in the last 30 days? Like, is it creating a hot audience, aka what I call raving fans, or no? And then I get to readjust, depending on how I answer that question right, or if those sales come in, and then probably one of the largest parts of our revenue hopefully also in a recurring revenue but is repeat sales from our current customers. Thank you for watching.

Speaker 1 4:31

We have a lot of repeat customers because we're delivering. We have a lot of repeat sales because they are satisfied with the customer experience. They are enjoying the product, the service, the teachings, the offering, whatever it is, and so either they keep signing up again and again or they keep letting that recurring revenue, membership or what retainer or whatever it is, go over and over and over. I've had people with me for four years running ads. I've had people in my inner circle for, oh my gosh, we're going on three years coming up. So again, it's like that is a testament to what you're doing.

Speaker 1 5:12

And if people are leaving, what is the customer experience like, what is the results they're getting? All those things get to come into play, but I really like seeing a healthy mix of these with, again, repeat sales and recurring revenue should be the heaviest too. But also you should see new customers coming in and finding you every month. If you're selling every month, right, if you have an offer every month, which I hope that you do that as well, and so I just kind of wanted to break that down because I thought it was really, really important. And here's the thing Even for me, the majority of people that are coming in, the majority of my revenue is coming from repeat sales. I have five to 10 new people maybe show up a month to purchase, but then, here's the thing, they become repeat sales.

Speaker 1 6:03

So I want you to think about that. Are you seeing that in your business? And if you're not, it's going to go back to your content strategy. It's going to go back to creating those raving fans and again getting that strategy going, getting that framework going. If you were in my raving fans program, you know exactly what I'm talking about. But really taking the time to build that out because it's only going to set you up for success for the next launch, for the next offer, for the next sale, for the Black Friday sales, for the next birthday week, like whatever cash injection you're trying to create or maybe it's a big one-off offer that you're offering, or retreat or VIP day, like this is all collectively going together to support and serve you and help you create the revenue that you desire in your business.