029 STBS: Sales Plans and Working Less On Your Business

To leave feedback, or ask a question, please send me a voicemail at 714-643-5301.  You can also subscribe to the podcast in iTunes!

In this episode we talk about the importance of having a sales plan.  Now a sales plan doesn't have to be something that is elaborate.  On the contrary, the simpler that you make it the better it usually ends up being.

A typical sales plan has 4 things.  The first is how much revenue are you targeting and in how long?  Second is how many clients or buyers do you need in order to meet that goal?  Third, who is your competition and what are they doing?  Lastly, where can you find your target market?

So an example would be like this:

  • Q3 Target Revenue: $80,000
  • Need 4 -6 clients at $15,000+ each.
  • Competition: XYZ Corp, AAA Corp.  They are positioning themselves as marketers for Surfers.  Best tactic would be to focus more on CPAs and other high value targets.
  • Where are my targets?: CPA 2.0 Tradeshow in Las Vegas, Accounting Rave Party in Irvine, Extreme Bookkeeping Event in Tibet.

Of course you can add more detail, but that's the bare bones.

So what does this do?  When you work backwards from revenue to target, you have a better view of how you want to spend your time.  Rather than getting 40 people per quarter at $2K, you can focus on bigger targets and strategize how you want to reach them.  Keep things simple at first and take action.

How do I create a side business and not work all day?

Harry from My Eco Guy asked a great question about how to build an online business that educates, but also doesn't take up all of your time. The answer to that is two-fold.  First, one of the most important things that I am starting to see is how great design brings great credibility.  When you have a well designed website, people tend to see you as more of an expert.  You can easily outsource web design out to the Philippines.  In fact, this entire site what my VA's idea and work.  He is awesome.

Secondly, I know you've probably heard it before, but outsource the implementation and be the strategist.  A good business owner builds great processes and empowers great people to help grow the business.  You should not be doing the day-to-day work.  Here's my 3-step plan for building an online business:

  1. Save up enough capital to hire a virtual assistant.  You'll need about $2 – $3 K for 6 months worth of payroll.
  2. Plan your build-out strategy, products, and pricing.
  3. Execute.

I know that it sounds simple, but often this strategy works best.  The more you analyze and rely on your own work, the more likely to get burned out you'll get.

To leave feedback, or ask a question, please send me a voicemail at 714-643-5301.  You can also subscribe to the podcast in iTunes!

Income versus time

Hi all!  In this episode we talk about a number of things that all fall under the category of promotion.  I start off the podcast by talking about the idea that I've had for a while about putting up my monthly income that I make in my side business.  I know that a lot of bloggers and podcasters do that now, but I really don't see many of them factoring in time as an indicator of how well you are doing.

That being said, I am pretty sure that starting at the end of this month I will be giving you the low down about how much money I make on my side business, and how much time I spend doing the day-to-day tasks.  Hopefully it will be inspiring, but I do have to warn you that it took a year-and-a-half to get to the point where I am right now.  I'll also talk about some of the pitfalls that I experienced in the month and what you can do to avoid them.

How to find workshops to teach at

Mike from www.dataworks.net sent in a voicemail question about how to find workshops that you can teach at and help to promote your business.  My main answer to the question was to start building your network via social media and networking events because there are a lot of people out there that have access to folks that do workshops and events.  The majority of workshops, speaking engagements, and events that I have been a part of have all come from someone I've met through networking.

The second way to find workshops and business expo centers is just to Google them.  A lot of those places are looking for talent to help deliver quality training for their folks.  I focus mainly on training centers that are privately owned and operated because they are more likely to need you, plus they also look for opportunities to provide their customers with business consulting later on.

Business Consulting: I’m available for one-on-one business consulting.  If you have a business and want to find ways to lower your expenses and maximize revenue with a virtual assistant or other technology, or if you are looking to start a business from scratch, I'd love to work with you.  You can email me at dean@entrepreneurideadads.com, or give me a call at 714-868-6745.

 

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