Have you ever experienced the crazy highs and lows of business revenue?
One month you’re on top of the world, and the next, you’re scrambling to figure out what went wrong.
That’s exactly what happened to Adam Murray.
Adam’s journey in business is a clear example of how unpredictable revenue can be.
In October, he achieved an impressive $125K in revenue. But then, in November, it all changed – his revenue dropped to just $10K.
It’s a situation that many entrepreneurs can relate to.
Here’s where it’s different, though.
Adam’s October success wasn’t just luck.
The $125,000 was no fluke.
He had a solid strategy that centered around a high-value coaching program. And the bulk of his sales were driven by a well-timed webinar at the end of the month.
This strategy was a significant factor in his success.
But then came November…
Adam tried to replicate the October’s success, but guess what?
The same strategy just didn’t click the second time around.
He focused heavily on webinars again, but this time, the results were not the same.
This is where the learning begins.
In any business, especially coaching, there are key performance indicators (KPIs) to watch: lead flow, booked calls, and close rate.
Adam lead flow was solid.
He cracked the code on generating leads through Facebook ads.
The real culprits were in his booked calls and close rate.
In October, he was booking calls in the hundreds.
By November, that number didn’tjust drop… it plummeted to just 33.
And his close rate? It nosedived.
In the world of business, a low close rate is like a leaky bucket – no matter how much you fill it, it’s never enough.
After analyzing Adam’s approach, we realized a few crucial things;
- The Audience: Was Adam targeting the right people?
- The Offer: Was his pricing strategy off?
- The Sales Team: Were they equipped with the right tools and training?
We found out that Adam wasn’t nurturing his leads enough before making an offer.
The sales team wasn’t being led effectively, and most importantly, the close rate needed serious work.
Moving forward, the strategy was clear:
- Webinars: Use them sparingly. They’re powerful, but only when timed right.
- Go All-In On The Group: More engagement, more calls. That’s the mantra.
- Work on That Closing Percentage: This is where the real battle is won.
Adam’s story is a powerful lesson.
Business isn’t always about doing more; it’s about doing what’s right.
It’s about understanding your numbers, knowing your audience, and adapting your strategy accordingly.
So, here’s my question to you – are you tracking your KPIs? Are you adapting your strategies based on what the numbers tell you?
Remember, it’s not just about avoiding mistakes; it’s about continually evolving and growing.
And if you ever find yourself in a rut, remember Adam’s story.
With the right strategy and guidance, you can turn things around.
Until next time, keep an eye on those numbers and stay flexible in your approach.
And hey, if you need a hand, you know where to find us!