I know a lot of small business owners, have met with over a 1,000 literally in the last 2 years and everyone has one thing in common. Each small business owner wants to support their lifestyle and family. That’s where the commonality will often start to fade.
I want Success… And I want it NOW! Is often a common motto.
Lately I’ve had a bit of a split personality. Working on both my core business of Growth Mentors whilst getting some momentum for the ‘hobby’ I am passionate about, Brisbane Small Business and building the 2016 expo.
It’s a challenging time juggling both, finding a balance and that got me thinking… “there must be an easier way”.
We’re all guilty of seeking that, yes? Looking for the easy way?
It was this point that made me think, how many ways are there to make money?
So I started to ponder, what would be the fastest way to earn, no quick money schemes or lotto windfalls allowed, to actually earn $10,000.
How many sales would you need to make $10,000?
That was my first question. Pretty logical stuff really. For me the answer was 11. With the Kickstart program of Your Business Mojo being just $997. More on that later.
So I need 11 sales to earn $10,000. Great, I don’t need to compete with everyone. Just find 11 appropriate business owners who are seeking what I provide.
So what’s the fastest way to find them, and get my message to them? And here’s where it got interesting.
That’s the most obvious, and here most people start. It’s personal exertion. In fact I bet personal exertion was how you made your first dollar.
To get your first dollar, most of us had to do something. Chores at home, washing the car, maybe even keeping your room clean. If it was out of our home life it was probably working at McDonalds or a café, or some basic role in retail. (not everyone of course)
After school and possibly further studies, many of us went and worked for someone… Personal exertion!!! Where we trade our time for money.
To all of us in small business this is a proportion of what makes up the business income. We bill our clients because we spend time doing something for them.
When we start networking generally the first business we get is from someone we have actually met. We get to do our thing for them. That’s personal exertion.
Nice and simple. Except… We have to do all that other stuff before we get to do the working for clients stuff. We have to attract the clients, we have to nurture the relationships, we have to look after the accounts etc… and we’ll come back to this later.
So for the moment, I’ve critical roles running both, being involved with both…
Leverage time and expertise
Here is where things get interesting.
Moving out of the “everything has to be done by me cycle” can be challenging for many. It’s my business, my Ideas, my efforts and my way…
To start leveraging our efforts, energy and expertise we need to let go.
Some time back, I got a VA. She started to assist with the little things that were eating up my precious time. Those little jobs that had to get done, but that didn’t directly add value to the business. All those jobs that didn’t seem to help bring in more clients. The things that just seemed like housekeeping.
All of a sudden I found I had more time. In a sense, I’d invested some money to buy me some time. That’s leveraging my time. It allowed me to invest in the business through buying someone else’s time and expertise to leverage my time.
Coming back to our networking example, when your clients and associates, those you’ve met at networking, start sending you clients… That’s leveraging. It’s multiplying the efforts of your networking over time and providing an ongoing return.
Leveraging expertise, that’s a different matter… I’m working on this. It comes once you’ve refined your systems and processes to a point where you can train others to do the role for you. In a sense the networking example, is that. You’ve trained your associates to do marketing for you. Of course this doesn’t happen overnight.
How many people do I need to network with to find the right number of clients?
As I said, I need 11 clients.
After the networking event, I’ll need to catch up with prospects and discuss their business with them, to see if and how I could help. Often, I’ll have others who I can refer who may assist their business with an immediate need, and sometimes during the course of our conversation I discover that the prospect is a little stumped. They feel they need more Focus, or Clarity or Confidence to improve their sales or leadership or their business.
For me it is about finding people at the right time. The best sales people actually understand it’s a numbers game. Sure they have strategies to tighten the numbers, but it’s still a numbers game. They need to meet, a certain number of live prospects and over time, they know exactly how many prospects they need for each sale.
Imagine getting to meet up to 1,000 curious prospects…
Imagine the time and money you would save if 1,000 curious prospects were to be introduced to you…
Like all networking events, we don’t know which of the prospects is interested in what you have. Still imagine the time and money saved, to get 1,000 prospects. The time and money spent to attract that audience is huge.
Here is where as a group, we can leverage the advertising activity of the whole, to find the curious small business owner looking for ideas and a way to save time money and to become better at what they do.
The average event would cost about $25- $150 for a typical Breakfast/lunch event. Taking into account that 10 people in the room to hear your message and may be interested. And many people going to networking are only in it for themselves. You’ve met them, they’re going just to see what business they can get… They’re not really prospects…
That’s a lot of time and money.
Consider the Brisbane Small Business Expo 2016
We’ll promote the event, advertise, seek PR opportunities, hire the venue, find sponsors and even put on a Breakfast Day 2 designed to attract people to the event.
You come along and solve problems for your prospects. What percentage of attendees do you feel you could follow up, have a meaningful conversation and attract as clients?
Could you make $10,000 out of the relationships that start at this year’s event?
It’s about saving you time, collaborating as a group and creating a great event. Helping each other and building a strong vibrant Brisbane Small Business Community.
Go to http://brisbanesmallbusiness.com.au for more information of call Kevin Gammie 07 3121 3272 for more information.