The quote says that coaches averaged $46,678/yr in 2018. If that is true, we only worked with clients 167.30 hours during the entire year, about 4 hours per week! However, can’t you imagine how much more you would earn if you worked with clients even 10 hours each week? Working 10 hours per week changes that dismal number to $133,920 for the year and goes up to $267,840 if your weekly billable hours increase to 20!
Service Providers: Consider this chart:
|Desired Yearly Income||Weekly Salary 48 weeks||Billable Hours: 20|
Do you see how easy it is to determine how much you can earn?
“But, wait”, you say. “Just because I pick a number it doesn’t mean I can earn it”. And my answer is, yes, you can, if you plan to Think Sales! and commit to the 7-step sales system that has worked for my clients since 1994.
This year has been tough on many industries. We are finding our way through a pandemic. If we are working, we are fortunate.
However, as service providers, we often undervalue our offerings. We don’t monitor how little we earn in the name of doing good and we don’t have a clear profit path.
Many business owners have a problem writing themselves a regular paycheck. Few consider that they are part of the payroll, let alone pay themselves every time they pay their employees.
The Role of Revenue
Remember, it’s revenue that maintains your company in good working order. Cash lets you pay your VA or employees, invest in new technologies, start a 401k for the benefit of those who work for you. Revenue-producing activities prove that your product or service is worthy and customers will pay the price you set to buy what you sell.
So how do you get on the right track? If you truly want to make a living being a service provider, this is the approach that works:
The SOAR for Success 7-Step Sales system will increase your revenue.
I developed this sales system during a life-long career of entrepreneurism in which I built 3 multi-million dollar companies. If you follow this sales system, you will consistently grow your revenue.
It starts with a core belief: Sales is the lifeblood of your business.
You know that, but, too often, revenue-producing activities take a back seat to all the other activities you let dominate your day. And, when you experience roadblocks, it’s easy to make excuses.
As service providers we fail to properly price our offerings because we do not factor in the time we spend researching, prospecting, preparing, proposing. Are you getting paid for this aspect of your work? Remember, it is your WORK!
I’d love to get into a discussion on pricing, here, but this is not about pricing, it is about selling activities.
STEP #1: Behind every successful service provider is a fail-safe sales system.
Selling, itself, is a professional pursuit and, happily, almost anyone can learn it. If you truly wish to increase your sales skills you must be willing to learn from other top salespeople, spend time reading books on selling, listen to podcasts, watch videos and attend sales seminars. Selling is a formula and follows a specific arc that takes your buyer where you want her to go. If your business is to continue growing, you can never stop learning how to be ever-more effective.
Most of all, either you, or someone doing development for you, must get out, get on the phone, meet your prospects on zoom, and sell. And, ask for the business.
Once you gain strength in selling, adapt what you learn to your own unique style. Nobody feels about your company the way that you do. Keep passion in your back pocket. Passion and energy sell.
STEP #2: Be clear on the attitudes and values that drive you. They are what create your success.
You are the heart of your company. When your core values perfectly align with the values of your business, you are unstoppable!
STEP #3: Plan, plan and plan – then work your sales plan!
STEP #4: Prepare to Sell
Have everything you need in place first. Use a script if you must. Continually refine it. Know what steps you need to take after the call and always follow up.
STEP #5: Sell
As we said in our retail liquor stores, “Nothing Happens Until the Cash Register Sings!” However it is that you get paid – cash, credit card, Venmo, Paypal, check, direct deposit – you must get out and sell. How many hours a day do you actually devote to selling activities? Even 1 hour every morning, 5 days a week will produce results. IF you first completed steps #3 & #4.
STEP #6: Close the Sale
You can do the greatest job selling people on your products and services but that cash register won’t be singing if you fail to ask for the business.
STEP #7: Find your mathematical approach
Numbers are the foundation of your business. Without the proper metrics in place, you cannot lead your company effectively. When you do not develop a meaningful dashboard, you make growing your business harder than it has to be. Actively pursuing sales is no different. All the information you need to successfully sell is right there in front of you. A sales dashboard provides you the truth about what is happening. It is all the information you need to sell smarter. Every day review what happened, record the numbers and plan for the next day.
You can purchase my book Sales Simplified
Pick up a copy from my SOAR for Success series of Sales Simplified, and find the full sales system, including the steps and strategies you need to increase your income and consistently earn $100,000 and more each year.
Once you complete your profit path, get clear on what you are selling and identify how you will do it, I guarantee your register will ring!
Yours for Success, Gail 773-957-8582 Gail@GailZelitzky.com
P.S. If your revenue needs a makeover, get on my calendar and let’s see if I am the right coach to help you SOAR.