If you’ve been in business any amount of time I’m sure by now you know that without revenue it’s impossible to stay in business. According to the SBA (Small Business Association), 50% of small businesses fail within the first 5 years, 30% fail within the first year.
As you may have guessed, one of the top reasons for these numbers is lack of revenue. You need capital to grow and scale your business, but if you aren’t bringing in much, it’s difficult to move past where you currently are. More revenue will allow you to hire team members and stop being the CEO, VA, social media manager, bookkeeper, and project manager. We all start somewhere and it’s totally ok if that’s where you are right now, but it’s not ok to stay there.
Most of us started businesses for financial freedom and to have control of how we spend our most precious asset - our time. The one thing you can’t get back. The ultimate goal should be to build a start a business and scale it to a company that doesn’t need your presence to run and function properly day in and out, otherwise you’re creating another job for yourself. For me, that was a major motivator to becoming a business owner. At some point I wanted to step away and not be in the weeds of the day-to-day operational activities as much. I wanted to take a week off, go on family outings, be around for field trips, and come back to a well-oiled machine because my excellent team has it all under control. Of course that wasn’t the only motivator for entrepreneurship - but it was a major goal to keep in mind because when I started, we’d already started growing our family. For many it takes a few, and sometimes several years to reach that place of having a full-team, consistent revenue, SOPs and all the other things you need to step away and allow someone else to run the show from time to time. It is still very possible with the right steps and with more revenue. When you invest in improving your sales system and marketing, you’re investing in the future of your business.
For most businesses owners I talk to, they’re bringing in some (or very little) revenue and it’s definitely not enough to keep them afloat long term. For these groups, a boost in monthly revenue would allow them to leave their corporate positions, take their families on vacations, travel to networking events, or hire their first team member - yet, they’re terrified of hiring a sales coach/strategist because… that costs money too.
Here’s 11 ways a Sales Coach can help with your business:
- Assist you with marketing strategies to fill your pipeline with good leads
- Share new strategies that work for your specific niche
- Help map out a profitable sales funnel that allows you to make money in your sleep
- Learn to retain clients and customers
- Help build confidence in your ability to grow your business
- Equip you to have strong skills that lead to more clients
- Teach you how to convert your leads into paying clients
- Help you map out additional revenue streams
- Help plan your launches and promotions to increase conversion
- Motivation - there’s nothing like having someone on your side that’s amped about helping you
- Maximize your time while focusing on income-generating tasks
Many business owners I work with in the digital space share that they’ve invested tens of thousands in courses and programs that taught them to do everything - except sell their services and digital products.
That’s because keeping sales in the forefront of your mind doesn’t come second nature to most people. Sales, like anything you learn in business (copywriting, marketing, social media, etc.) is a skill that has to be honed and developed. Following a successful sales coaching program, clients report between a 25% to 40% increase in sales activity, leads generated, average deal size, and close ratio.
The true question is how fast do you want to grow and what skills gaps do you have? If you're missing or lacking in any of the 11 areas I mentioned above, bringing an expert on board will only fast-track your growth.
Tell me in the comments, what's keeping you from getting the help you need to grow your business? Fear? Confusion? I'd love to support you and point you in the right direction.