Every month I’ll give you an update on my online marketing business to show you how it’s progressing.
This is where you will find out what I’ve been doing to get more clients, service my existing customers and organise my business.
It also forces me to take a take step back and see where I need to spend my time to make more sales and grow.
One Business Goal
When assessing your business, it’s important you do this in the context of your goals.
My current goal is to make £100,000 sales by 31st December 2017.
Key Highlights This Month
- Sales This Month
- I’m Creating a Brand
- Networking Like Crazy
- I’m Hiring
Sales This Month
My first month in business has been surprisingly good. I took on three new clients. 🙂
Two of them for 1:1 online marketing coaching and the third is for monthly online marketing services.
Two of those sales came from ONE guy I met at a networking event a week before I left my job.
We agreed to meetup and ended up at a Shisha cafe as we both love it! I don’t have many bad habits but this happens to be one of them…
If this is what full time self employment is all about, I could get used to it very quickly, haha.
We spent 4 hours in this place talking about everything from life, holidays, business and how I can potentially help his family grow their brand online.
On top of this, he was so impressed with my work, that he also referred me to someone who needed coaching.
I met his dad a few weeks later and he signed up for monthly marketing. A week later, the coaching client also agreed to buy coaching.
When someone trusts you fully, they almost become part of your sales team and do part of the selling for you. That 4 hour shisha session was crucial to do this! (that’s what I tell my wife every time I go shisha now) 🙂
It’s funny, when I met this guy at the networking event, I had no idea it would lead to two sales.
This is what I love about business.
You never know where your next customer comes from, but you need to put yourself in as many opportunities as possible to improve your probabilities.
I’m Creating a Brand
I held a talk to a local Facebook group called, Planning Your Online Strategy.
The group loved my session.
It was really important for me to impress the owner of this group, as she has become an authority within this community.
I had some great feedback and the owner of the group wants me to hold a half day paid workshop. We’re still working out the details, but it’s a brilliant opportunity to build my brand.
Even a few days after the talk, some of the phrases and concepts I used during the talk was still being discussed and encouraged by the administrators of the Facebook Group.
They have also recommended my services to people looking for websites and digital marketing.
Welcome to the RESULT OF CREATING A BRAND. I want to become the GO TO online marketing person within my local area and community.
Once I’ve built a strong LOCAL brand, I’m planning to shift my focus to building an ONLINE brand.
Networking Like Crazy
I attended a record EIGHT local networking events this month.
I never expected networking events to take so much energy out of me, but they are really exhausting. I’m not complaining though, as two of my sales this month came from networking.
I can literally say that one networking group will be responsible for around £20,000 of revenue this year.
When you layout where your source of sales like this, you know exactly where you need to spend your time.
Meeting people face to face is how they get to know, like and trust you. That’s why it’s so important you get yourself out there. No one’s going to build your business for you!
However, if I’m going to be spending all this time drumming up business, I need to keep my existing clients happy, which is why I started hiring this month.
I’ve come to the realisation that I cannot scale and grow my business doing everything myself.
I need to hire quality people who have the relevant skills or can easily be trained. It’s a lot easier said, than done. Trust me.
So far, I’ve taken on two people who I’m training slowly, and closely monitoring their progress.
This is one of those tasks that I’ve always wanted to accomplish when I was working a 9 to 5 job, but I could never find the time to do it. If I want to take this company above six figures, I need to solve this.
Getting Down To Business
Business Income Numbers
Note: the numbers are revenue numbers only, I don’t share my business costs.
Let’s jump straight to the headline income numbers:
- Income Goal: £100,000 in sales this year (by 31st Dec 2017)
- This Month’s Income: £3,600 (+£1,650 compared to last month)
- Total Income This Year: £5,550 (£94,500 off target)
As you know, there’s two parts to my online marketing business: a) Online marketing services and b) Online marketing coaching.
Here’s how my income is broken down this month:
- Online marketing services: £2,100
- Online marketing coaching: £1,500
It’s important I maintain a healthy list of businesses who have expressed an interest in either my online marketing services or coaching.
Here’s a quick overview of existing leads, including the type of business and potential revenue amount for each one:
1. Online Marketing Services:
- Monthly online marketing services (specifically SEO + Paid Advertising) for home improvements company: approx £2,500 per month
- Digital marketing research and a new website for a self development company: £3,500
- New Website for Cooking Class Business: £3,000
- Digital Strategy Session with Wedding business: £300 one off
Update on Plans From Last Month
- Hold free talk to local Facebook group. Update: Complete
- Meet at least 3 business owners not in my existing network and give them an overview of my business. Update: Complete
- Complete critical client work including strategy for two clients and website for another to free up capacity. Update: Website is not done as awaiting client.
Plans For Next Month
- Complete training guides to allow staff to take on more work.
- Prepare for half day workshop for local Facebook group.
- Take on a new client and and get at least two more testimonials.
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