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A Recipe for Real Revenue Comments

  • By Amanda Steinberg, founder and CEO of DailyWorth
  • August 15, 2013

networkingMissed the telelcass on how to become an ace saleswoman in a services business? We got you covered! Here's the bottom line (err, top line?) on what we discussed.

Listen to a recording of it here.

Sales is not marketing. When you're building a business, packaging and promoting your services are not enough to bring in enough deals to scale your business, regardless of how amazing your PR is or how many followers you have on Twitter. To really scale your business, you have to…

Set real goals. Successful businesses create real revenue goals—monthly, quarterly and annual goals. Don't sell yourself short! Dream big and surprise yourself when your big audacious goals materialize. We see it happen all the time. (Remember to write them down!)

Use a pipeline. A pipeline helps you manage your prospects, leads and opportunities in a single spreadsheet so that you can forecast your revenue. Here's a sample sales pipeline template you can download.

Go meet a LOT of people in your target market. You need to have 100 conversations to identify 20 people who could buy your service, to submit four quotes for projects, to win one client.

Seriously, what? That's so much work to find one client! Yes, we know, but it's the truth about what it takes to win in sales. So if you're not making enough money, chances are you're not having enough conversations to find enough potential buyers to give yourself a shot at building your pipeline.

Following the lesson, I took live questions from our 400+ listeners.

Alexis Cartwright-Tower, co-owner of hair accessory company The Hunny Bun called in with a question about hiring. They're going through a rapid phase of growth, and she asked if it was okay to hire a contractor to pay for shipping support even though the company's financials don't yet justify the expense. "Yes," I told her—as CEO, you need to take calculated risks that allow you to devote as much time as possible to the sales side of your business. If you don't, you won't grow—you'll just be stuck on the hamster wheel of "not enough revenue" for too long.

A writer new to freelance work asked how she should set her hourly rate. "Start with how much money you want to make in a year and how many hours you believe you can bill per week, and see where you land." I reminded her to set big goals—why not start high? In addition, she should meet with two freelance writers she respects to ask what they charge. Lots of useful dialog will ensue.

Listen to the teleclass recording here. (recording may take 30 seconds to load)

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