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 £5,000 monthly revenue by 31st December 2016.
Key Highlights This Month
- First potential customer from my live speaking event
- Realised I don’t want to build websites for clients anymore
- One podcast interview and two written features of my business
- My coaching client’s website is now on page 1 of Google 🙂
First Potential Customer from my Live Speaking Event
I held my second free live speaking event on the 10th October, and nine people turned up. That’s three times more than my last event.
It went really well, the group engaged and asked some great questions.
I even received a big round of applause at the end of my talk and to my surprise they all said that I should start charging for the event.
One person even went as far as to say, “I’ve been to so many seminars and yours has to be one of the best I’ve attended, I never thought I’d get this much information and it all made sense”.
These talks take a lot of energy out of me, especially when I do them after work. But when you receive feedback like this, it’s easy to break through that tiredness. It’s a real buzz!
I also got some valuable feedback on areas I could improve. One person recommended I update my event description, here’s what she said:
And this review left me with a huge smile:
I’m going to use this testimonial in the description of my next event to encourage people to register.
There was a few people at the event who showed some level of interest in my 4-week online marketing coaching programme. I emailed everyone after the event reminding them about the programme and offering a free 30mins strategy session to talk about their business and the programme on a one-to-one basis.
So far, one person has taken me up on the offer, we had a great conversation and she needs some time to think about it.
I’m starting to feel the opportunity of these events for my business. If only I can get more people attending, that will increase my chances of making a sale.
I’m Not Building Websites Anymore
Since taking on my first website client in August, I’ve spent a bulk of my time managing the design and development.
Even though I’ve hired a web developer to develop the site, I still need to manage everything else including: marketing research, defining website structure and content, arranging the content, setting up tracking and managing changes to the design.
This sucks up a lot of time.
I’ve spent at least 30 hours on the website so far and it’s still a few weeks from launch. The problem is it’s not easy to hire someone that I can trust to do this as it’s such a crucial part of a client’s online success and frankly I’m too controlling. 😉
That’s why I’ve decided to really focus my business around providing online marketing services and coaching only.
I’ll still continue to provide marketing research and website recommendations around if a client needs a new website. But I’ll stop there and recommend another company to manage the development.
It’s a difficult decision to take as I know I’m good at it and potentially leaving money on the table, but I need to stop trying to do everything.
Three Features of My Business
I did one podcast interview and two written interviews this month.
One of them has already gone live, which you can see here. Katie especially liked my last answer, go check it out.
My Coaching Client is On Page 1 of Google
The good news is that a client I provide online marketing coaching for, informed me that her business is now on Page 1 of Google. She is now getting a few more visitors and enquiries every month and is very pleased with my coaching.
I’ve only had around 4 sessions with her and we have loads still to work on.
The bad news is that she is now working mostly full-time until the end of this year, which means our next coaching session will be in the new year. 🙁
It’s frustrating as she’s now starting to see results and her website has good momentum. I can really see her business getting booked up in 2017 if she continues.
Anyhow, I’ve given her a list of actions she needs to take over the next month, which should keep her busy.
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: £5,000 per month (by 31st Dec 2016)
- Current Income: £725 (-£4,250 compared to last month)
As you know, there’s two parts to my online marketing business: a) monthly online marketing services and b) coaching.
Here’s how my income is broken down:
- Monthly Marketing Services: £600 per month (furniture company)
- Coaching: £125 (one client)
As predicted last month, I’m £4,250 off my income target. I need to get this website completed over the next few weeks so I can focus on making sales again.
Earning £725 while working full time is still a good amount of money. Even if I just take on two more clients before the end of this year, it will make a big difference.
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:
- Monthly Marketing Services
- Website audit for an insurance company: £600 or £1,200 one off
- Monthly online marketing services (specifically SEO + Paid Advertising) for same home improvements company: approx £2,000 per month
- Monthly online marketing services for Kids Clothing company: approx £600 per month
- 4 week Search Engine Optimisation coaching for a mindfulness coach: £500 one off
In last month’s update, I had a website lead which I’ve now removed. I’ll still get in touch with the client to give them marketing advice and recommend another website developer.
Update on Plans From Last Month
- Deliver great results for my existing clients. Update: Complete.
- Redesign my coaching website to attract more potential customers and enquiries online. This is an area I’ll be focusing on more over the coming months. Update: I’m still in the middle of doing this, it’s taking a lot longer than expected.
- Hold a live speaking event and Facebook Live session giving away free advice on online marketing. Update: Completed live speaking complete but Facebook live session did not go through in the end.
- Attend at least two networking events. Update: Did not happen, due to time constraints.
- Begin to look at ways I can run my business more efficiently and potentially automate certain processes. As I take on more clients and my business grows this will be more crucial so it’s a good idea to start preparing for it now. Update: I’ve put this on hold as did not have the time. Thinking about it now, this shouldn’t have been on my To Do list. I need to focus on sales related activities only.
My Plans For Next Month
- Follow up with the four existing leads above.
- Launch the new website for my home improvements client.
- Meet with my furniture client to review the work I’ve done to date and walkthrough the marketing strategy for the next few months.
- Continue to complete the redesign of my online marketing training website. To be realistic, I see this going into December.
- Arrange my first paid (£10) live speaking event. I’m hoping I will get more people actually attending, and not just registering.
- Attend at least one networking event.