Issue #20 | November 30, 2020 | Read Time: 2:30
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Issue 20: Do You Have Predictable Revenue? Here’s 3 Reasons You Should…
On the docket this week, we’ve got…
- 3 reasons you need a predictable selling system,
- The power of pricing, and
- Taking a stand
Let’s get going!
THREE THINGS YOU NEED TO KNOW:
THING #1: When’s the last time you checked your pricing?
Last week, Roland Fraiser gave some great advice for how to increase the yields from your business.
It’s a low cost (and pretty low effort) way to add more income….
And it’s called changing your prices.
In his most recent price changing efforts, Roland was able to add another 9.13% in revenue to his business.
That ended up being a 54.8% increase in his bottom line.
All with no essential change to his business.
You can learn more about price changing, and the economics behind why it’s essential every couple of years, in last week’s Scalable Library Post.
THING #2: Do you have a predictable selling system?
“How are we going to go about acquiring customers profitably and predictably”
It’s the biggest, most important question in the world for entrepreneurs.
It’s also been one of the big goals on Ryan Deiss’s mind moving into 2021.
That’s why a few weeks ago, Ryan jumped on The Perpetual Traffic Podcast to talk all about it.
So, why should you build a Predictable Selling System?
You need predictable sales to scale.
If it feels like we hammer this idea every week, trust us; it’s for a good reason. They are absolutely 100% essential.
Systems aren’t just funnels.
Creating predictable sales doesn’t just depend on a good funnel. There are a ton of moving parts that span a variety of teams across your business.
A good funnel will only get you so far.
Systems work even when you don’t.
This is why systems are too great! You can automate huge chunks of your system with people (other than you,) or tech.
This keeps you from being the bottleneck, and gives you more time to work “above” your business, as apposed to in it.
You can hear Ryan’s full episode on building a predictable selling system on the Perpetual Traffic Podcast.
THING #3: Take A Stand.
Want to know one of the more effective ways to get people to buy into your product or service?
Take a stand.
Definite “yes” or “no” positions tend to bring out stronger reactions from people, and strong reactions create a memorable bond.
So if you can present your offer in direct support of something, or (more effectively) as in direct conflict with an idea or stance, people will pay attention.
Nike did this with the Colin Kaepernick ads. Apple did this with their infamous 1984 ad.
And more recently, Scalable did this with the Manifest post, calling attention to the “accidental entrepreneurs,” and telling us that it’s okay to not know what we’re doing.
If you want to turn heads, take a stand and articulate it clearly.
CLICK THESE LINKS:
- Leadership: Hiring someone new? Here’s 40+ interview questions that will actually help you find the right fit.
- Management: Looking to get some feedback on your leadership? Here’s the right (and wrong) way to do so.
- Just For Fun: Who doesn’t love a good subject line swipe file?!
I hope you enjoyed this week’s issue. If you didn’t, we’ll try to do better next week. If you did, could you do me a favor and share it with 3 friends and colleagues?
It would mean the world to us.
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What is The Memo (a.k.a. the thing you’re reading right now)?
Every week, my partners and I send an email memo to our internal executive leaders (the people running our companies) sharing news and insights we believe they should know. Sometimes it’s an interesting article…sometimes it’s a new thought or idea…but it’s always something timely, tactical, and actionable.
Now, you can get the same memo…and you don’t even have to sell us your company. 🙂
What is The Scalable Company?
The Scalable Company is a collective of founders and entrepreneurs who have no idea what they’re doing, and are willing to admit it. You can read our “Accidental Entrepreneur Manifesto” here, and peruse our internal “wiki” of resources and best practices here.