If you’re a high value service entrepreneur, coach or consultant who’s looking to grow and scale your business, the only question that matters is how much you can afford to pay per new client call.
Everything else is just noise and distraction, as this is the main metric you should be keeping track of each week in your business.
If you don’t currently know the answer to this question, make it your number one prerogative to figure it out ASAP, before you move forward with anything else.
For example, in my business, I have no problem paying up to $500 per new, scheduled Strategy Session phone call.
Usually, my costs are around $100-$150 per call, but, I can easily afford to go up to $500 and still get a healthy return on my ad spends.
Let’s assume you sell a huge value, outcome driven solution and the investment for your clients is $5,000 (we can assume this because you’re reading my blog :).
Would you be willing to spend $250 per new client call if you were able to close 1 out of every 10 calls you conduct?
I would hope the answer would be absolutely, as that’s a 200% ROI on your advertising investment!
Now, imagine if you were able to get real good and close down 2 out of every 10?
You just brought in $10,000 in revenue and spent $2,500!
This is the way you should be thinking in your business and this is the way that you’ll be able to drive consistent, predictable revenue every single month with clarity and piece of mind.
When you have this mindset and system set up and completely dialed in, you don’t have to worry about referrals, networking or “negotiating your prices.”
Most people I talk with about advertising online don’t focus on the things that actually matter.
They worry about clicks, likes, sign ups, visits, emails collected and other irrelevant metrics that don’t move the bottom line.
The only metric that moves the revenue needle is cost per new client call conducted!
That’s it, that’s the only thing that matters in your business and it’s the difference between entrepreneurs that have solid businesses, and those that have life changing, big time companies.
Figure out how much you can afford to pay for a scheduled, qualified new client phone call and start laying out your plan to get there ASAP.
Summary: The most important metric in your business is how much you pay for each qualified, new client phone call that you conduct.
Action Steps:
- Figure out how much you can afford to pay for a new client call while still making a profit.
- Spend $1,000 on an advertising campaign specifically designed to get you new client calls.
- Run your numbers and track exactly how your campaign shook out.
- If it doesn’t work out perfectly, don’t give up and say that advertising doesn’t work.
- Work relentlessly on minimizing your cost per new client call and maximizing your enrollment rate.
- Scale the system until you’re pulling in the type of revenue numbers you want like clockwork each month.
- Run a stress free, high impact business where you never have to worry about getting your next client.
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