Knowing Your Numbers

Every business has a number. The numbers are important. The reason they are important is the numbers will indicate how much work needs to be done.

I found when I was first starting my business development company I had to talk with 20 people to get one new client who paid me $500 for a year of service. So I had to talk with 200 people to earn $5,000 a month and 400 to earn $10,000 a month.

I would break it down to 100 dials a week, 20 dials a day which would take about 90 minutes. It isn’t so difficult to achieve your numbers when you know what it takes to achieve your desired outcome.

Then later after tracking my numbers for about three years I realized I if I would end up with numbers twice as good if I would call during specific hours and at specific events.

When I called during 9 to 11 am and 1 to 3 pm on Tuesday, Wednesday and Thursday I only had to call 80 dials a week to achieve the same results. The number of people who answered their phones was much greater.

When I called people I met at a Chamber of Commerce, the ratio was terrible. It was 1 out of every 40 people I met.

When I called people I met at industry specific event such as an association, the number was 1 in 5.

When a client referred a prospect the number was 1 in 3.

So I concentrated on referrals from clients and began my Power Coffee Meetings. (previous post)

What you can do by tracking your numbers is to effectively control your numbers.

 

 

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