We tend to address things in more of a general sense when talking about small business challenges. Tonight’s show was indicative of the reflections of our insights and understanding of various tools. Coaching helps business owner set up action plans once goals and objectives are determined through a variety of questions the coach presents. Consulting focuses on specific issues within the company, creating change management scenarios that, when the employees and staff are involved, provide the opportunity for better buy in and success. Peer advisory groups allow the business owners to engage and reflect with others who have similar challenges, which often isn’t possible in more confined environments.
All businesses rely on sales, but the process for garnering them is often vastly different. There are some basic that often get overlooked. If a sales goal is ‘X’ the construction of the process to get there is all important. It is a numbers game. In the digital world, ‘X’ is achieved through generating traffic and garnering sales as a percentage of the traffic. The rule of thumb is that a .05% success rate is good. So, the question is, “How much traffic must be generated to achieve ‘X’?” That is just a first step, but a necessary one that a lot of business owners forget to address. Numbers are your friend. Don’t leave them out of the process.
Here’s the recording of this week’s show with Ray and Zen: