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 revenue by 31st December 2017.
Key Highlights This Month
- I’m Going To Miss Canary Wharf in London (not!)
- My Interview With Anna Lundberg Went Live
- A Local Facebook Group Owner with 20,000 Members Asked Me To Talk
- More Online Marketing Services and Coaching Sales
I’m Going To Miss Canary Wharf (not!)
The day I’ve been waiting for over 10 years finally arrived: 31st January 2017, I left my job.
I used to work in Canary Wharf in London and I think I’m going to miss it. NOOOOOT!
To be honest, there are a few things I’ll miss. Like meeting up with my friends for coffee and lunch. Walking by the river. That Friday feeling as I leave the office. 😉
Canary Wharf during the day: picture taken during a work lunch break.
Canary Wharf in the evening: picture taken after leaving the office around 5pm.
But what I’ll miss is more than superseded by the things I’m looking forward to. Starting off with spending most of my day actually enjoying the work I do. Not having that sick feeling on Sunday nights anymore. Client’s leaving great feedback and referring me to their friends. Making a hard earned sale!
I’ve still got my feet on the ground and fully aware what lies ahead of me. Quitting my job, however was an easy decision to make. If you missed my post where I explained how you can earn the right to leave, check it out
My Interview With Anna Went Live
Back in October I did an interview with Anna Lundberg on quitting my Project Management job and growing my online marketing business.
You can also read about the interview on her website here and make sure you check out other fearless Friday’s interviews Anna has done.
It's strange to see how far I've come from when I did that interview.
A Local Facebook Group Owner with 20,000 Members Asked Me To Talk
I’ve been heavily networking recently in my local area and noticed a popular group of business professionals on Facebook and thought I’d get involved.
After weeks of jumping into conversations, providing advice and some good old self promotion, I decided to attend one of their local events.
The owner of the group and me ended up talking and I was giving her advice around how she can monetise her online community. By surprise she asked me if I’d be interested in doing a free 30mins talk for their next event.
“YES of course”, I said.
It’s happening on Valentine's Day, 14th February and I’ve got some serious preparation to do.
Not only that, but we’re meeting next week to discuss the idea of offering her group regular paid workshops. We still need to negotiate the revenue split but more than anything, it will help me to get my brand out there within the community.
More Online Marketing Services and Coaching Sales
Someone I was coaching last month decided he wanted to book more coaching sessions this month. It’s great as I am starting to understand his business and how he works, which means I can deliver even more value to him and keep him delighted.
I’m going to ask him for a testimonial soon as I’ve learnt the best time to ask is during the engagement, not at the end.
What I’m really proud about this month though, is the sale of my marketing services, which brought in about £750 of income.
I’ve spent quite a bit of time with this client because I knew that this person could potentially open up doors for me in the future and therefore I had to go above the call of duty.
To demonstrate this, I’ve summarised the journey from prospect to client:
- Beg Oct: Met the client.
- 8th Oct: Five very long detailed emails sent (time spent = 2 hours).
- 9th Oct: Sent the client a sample of my work for the example she wanted me to do (time spent = 2 hours).
- Didn’t hear back from the client for one month which at the time was very disappointing.
- 18th Nov: Decided to put my ego aside and sent a simple follow up email.
- Didn’t hear back from the client for nearly one month.
- 15th Dec: Client emailed me and requested a Skype call.
- 19th Dec: we had a great 2 hour conversation, it was clear we were a good fit for each other. The client asked me to do a test project as wanted to be sure. I agreed.
- 22nd Dec: Sent my test project to the client and she was delighted (time spent = 4 hours)
- 10th Jan 2017: Client confirmed that she wanted to hire me 🙂
I’ve been working on the project this month and I’m planning to wow them by the time I’m done!
If you take anything from this, it’s to FOLLOW UP and it pays to have a FLEXIBLE sales approach.
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: £1,950 (+£750 compared to last month)
- Actual Total Income This Year: £1,950 (£98,050 off target)
I know it’s a big goal and I’m going to keep it as my stretch target. I don’t have time to waste and will do everything to hit it.
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:
- Online marketing services: £1,350
- Online marketing coaching: £600
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:
- 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
- Digital Strategy Session with Wedding business: £300 one off
- Digital Strategy Session with coaching business: £300 one off
Update on Plans From Last Month
- Hold live speaking event in January. Update: Failed, didn’t have any time.
- Attend business networking events and start establishing relationships. Update: Success. Attended networking events every week and having 1:1 meetings with business owners.
- Meet at least 3 business owners and give them an overview of my business. Update: Success.
- Complete redesign of my digital marketing services website. Update: Success.
Plans For Next Month
- Hold free talk to local Facebook group.
- Meet at least 3 business owners not in my existing network and give them an overview of my business.
- Complete critical client work including strategy for two clients and website for another to free up capacity.
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