While there are many activities we do in our business, there is one main underlying objective that we are working towards.
It is vital we understand this so that we know what we are going for and ultimately how we will monetize our offerings.
1 Objective In Our Business
I’m Jeffrey St Laurent with SellingCoaching.com and today we’re going to learn the number one objective in our business.
The number one objective in our business is to build our database. Let’s define our database. Your database is the list that you’re creating, of people’s names, emails, and ideally their phone number as well.
So as we go out there and everything that we do our main objective is to build our database. That’s why it’s so important to do seminars, do workshops, or do live events on the phone. We want to be exposed to more and more people with our message.
Even from anything you do with social media or online stuff… as long as it’s driving traffic to your website, and once they get your website they see your blog, whether stuff you’re writing or ideally a video blog, so they can start to see your message and understand you and what you teach, they subscribe to your database.
What does large mean? Well, we want to get thousands and thousands of people. But the main objective is to build that database. Because once we build a large database we can pretty much do whatever we want with that. That’s how we will then decide how we want to monetize our business. It means how do we make money from our business.
You can’t make money in any business unless you have a database of customers. Now this database does not have to be all people that have bought from you, like I said they’re people that are customers that have bought from you in the past, maybe initially it’s going to be your friends and your family and just people that you know from high school and college and from your coaching school.
Initially it’s getting whoever you know on that database, and what I highly recommend is, this is one of the first things I do when I coach people; I say, hey, you’ve got to compile your database… and they say; no, I don’t know anybody.
In an average wedding each person knows about 250 people. So you should be able to at least come up with somewhat close to 250 people. Like I said, just get friends, family, acquaintances, Facebook contacts, if you know them… get names, numbers, and emails and create a spreadsheet. That’s what we start off with. Then ultimately as we get out there and we speak and we do these events, we’re collecting more and more names and emails and phone numbers and that becomes our database.
Why this is so important, why this is so much our number one objective? Let’s just say now we have a product and service we want to sell. Let’s say we have 100 people on our database. And let’s just say they’re ideal customers. These are people that you know, definitely either bought from us before or gone to our events and they know us and they like us.
I now publish a book. And let’s just say my book is $10. So I say; hey, guess what, hundred people? I have a brand-new book. Check it out. It’s really cool you know, you deserve to have a signed copy, right?
So now let’s just say 10% of your database will buy. It’s actually a lot less than that but I’m just giving numbers here. So if 10% of your database will buy when you do something. If you have 100 people that means 10 people are going to buy that book. So you send an email, couple blasts out to your database, hey, guess what? I published my new book, about 10 of those people are going to buy your book. So because the book is $10, you sold 10 copies, now you have $100 worth of revenue. Exciting, right?
So think about it like this. Now you have the same $10 book but you have 200 people, you have 500 people, you have 1000 people, you have 10,000 people, so just keep adding zeros. Well assuming the same 10% buy, statistically no matter what it is, the statistics are going to roughly be the same over time. Especially if they’re ideal candidates. If 10% buy, then if you got 10,000 people, you can do the math you’re going to get a lot more revenue.
So the reason we build our database is because once we create products and services then we market to that database and say; hey, I got this new program I’m offering. Hey, I’ve got this seminar I’m offering. Hey, who’s in the place where they deserve a coach? You know there’s a certain percentage of people that are going to do it, and there’s a certain percentage of people that are not going to do it. And I find usually, there’s usually like maybe 1% or so of the people are going to do something.
It’s a lot less than you think and it depends on what you’re marketing and who you’re marketing to, the percentage is going to be pretty small. That’s why it’s important that we grow our database.
So the number one objective in your business is to get out there and build your database. And ideally, it’s filling it with people and contacts that know you that love you that are exposed to you. And then, on a weekly basis at a minimum we’re going to stay in touch with those people via email. And were not always marketing to them by saying hey, buy my stuff, buy my stuff, hire me as a coach. That’s not what we do.
We actually send education to them. Check out my other videos on email marketing… I’m going to do videos on creating a video blog and that kind of stuff because it’s getting our message out there and saying; hey, check this out.
Just like what I do here with SellingCoaching.com. The videos you’re watching here is my way of sharing my message, sharing my energy, and I can help you out. And there is a certain percentage of you that are going to be like, you know what? I think I deserve Jeff to work with as a coach, or I’m in that spot I think I need a little bit more help with this. Or maybe I’ll check out his book, or maybe I’ll check out this new course that he’s offering.
So with enough of that repetition, people that are liking your message and that are receiving it, and that are benefiting from it on a weekly basis through your emails and through what you’re posting on your blogs and your website etc. They’re going to convert and eventually some of them are going to buy from you. And that’s the nature of our business.
Number one objective; build your database. Get out there and do it and you are going to get paid, and you’re going to create a successful coaching practice.
So if you’re ready to take that leap, always remember Selling Coaching is the absolute best way to fast-track your business from a part-time hobby to a full-time career. Now get out there, GET LEADS, GET CLIENTS and GET PAID.