Honesty about difficult times
The Six Percent Entrepreneur
Honesty about difficult times
May 26, 2021
In this episode, we talk about how some bad times in business do not mean you are a bad business person.
 I was invited to do a talk recently in a Facebook influencers Facebook group and this talk was about how I was driving a lot of people from Clubhouse onto all my different platforms. So I have a lot of every time, I do a Clubhouse talk I get people interested in my books and pre-sell some books. I get people listening to my podcast. I always have a spiking podcast during that time and I also get a lot of people onto phone calls that want to launch their start-up with me. 

And so this talk was a talk for other coaches consultants on how to get high ticket clients on the phone. So during this talk um pretty successful, I would say in getting people on the phone, however, I have mentioned to this Facebook influencer that I was having trouble converting people into this brand new offer, so this is a new offer that I'm doing and I've already mentioned how my passive income business is dying in episode I think 72 or something if you are interested in that, go and check that out. But I feel the need to be transparent to you. So this is exactly why I'm making this episode. I've been transparent and I want to continue this transparency and I want to talk about the stuff that other people are scared to talk about. 

So on this interview in this Facebook group, my friend, she's a friend of mine, she's a Facebook influencer, but she's also a friend. She knew that I was having a conversion problem so she didn't ask, how much am I making or anything like that off of these clubhouse talks. But the thing is I don't mind sharing these statistics because whatever I share actually goes along with the system that I teach that I knew, that I know it works. So any time you start off with the new offer, you have to go out and start talking to those first 100 people and I think I have a podcast episode about this as well. I can't remember the name, but it's something like, I don't know, it's out there, trust me. 

But you have to talk about, you have to talk to 100 people for you to have a good idea of what all the objections are, what all the false beliefs are, what all the points of confusion are. If you don't know this, then you're going to have a tough time selling, and every single person you talk to will be another point of data for you to learn this. So for me, even if I'm not converting, just the fact that I'm able to get a lot of people on the phone is good enough. So this, with this new offer I've had 60 phone calls, and out of the 60 phone calls I've only converted to people. 

So that's a really really low conversion rate. It's like a 5% conversion rate. However, looked at it a different way in the past month, my conversion rate was 10%. So I grew from 5% to temperate or 5% if you look at the long stretch but 10% in the past month. What this means is I'm actually improving. I am getting better. I am going out and doing the right things and I'm actually using the system to launch this offer that I teach for this offer. So it's really meta. 

Um If you're interested in the system, I mean you can go check out that talk. Theverticalmethod.com, t-h-e, theverticalmethod.com. And then I also have a book coming out about it called minimum viable markup at minimum viable markup dot com. Or if you want the easy link, it's mvmbook.com. Yeah. So I'm actually proud that I'm out there making all these calls and learning because every single call that I make, I am going to get a brand new data point that's going to help me close the very next sale. 

So right now I am up to 60 sales calls and my closing rate is getting higher and higher and very soon I will be closing one out of five calls. This is just something that you have to do any time you're launching a brand new offer. No matter what offer you launch, you just can't expect to go out there and start closing people right away. And this is one of the reasons why I preach sell first before building anything because you want to make sure that whatever you do end up building is something that people will buy. 

So I hope this episode helps. I just wanted to be transparent with everything that's going on just because you have some bad times in business does not mean you are a bad business person, the way that you handle these bad times, and your ability to be honest about them. I think we'll say a lot in towards of the trajectory for your business. So rough times happen. All businesses will eventually die and this is the entire point of growing that customer lists first so we can leverage that list into different products and services and use our multiple talents to be able to deliver value to our audience. This is Robin Copernicus. Boom. Bam, I'm out. 

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