I want to kick things off by showing you the strategies and tactics I’ve used to double six to seven-figure businesses in one year or less.
First, I want to address the elephant in the room, why trust me?
In the last four years, I’ve helped 3 businesses double in revenue. One of these businesses had only $200 in sales to start. We built that business into a 7-figure business in 18 months. That’s where my expertise and experience comes from. It’s grounded in real-world wins and losses (more on those later).
It’s rare to meet somebody who’s actually done the strategy and gotten into the nitty-gritty of the execution. It’s usually a team of people. They outsource it to somebody else. Or, they do the strategy and leave the client to handle the rest.
My name is James. I’ve been in the trenches implementing these strategies and tactics.
I’ve written the copy, I’ve put the autoresponders together, I’ve built the pages.
That’s what gives me a unique perspective. I’ve been able to see what looks good on paper, but doesn’t move the needle in practice.
Or worse… what does move the needle ever-so-slightly…
…but it takes so much time, energy, and focus that you end up trying to squeeze blood from a stone.
I’m not going to teach you a bunch of stuff from books I’ve read. I’m going to show you what I’ve done that actually works.
First, let’s jump into the math. Im going to show you exactly how you can 2X YOUR business in the next year…
If you can increase the frequency of your orders by 33%…
…And improve conversions by 33%
… And get your customers to add 33% more products to their order
…you’ll get a 235% growth in revenue!
And I’ve found that there are three tactical levers to pull that can make this happen consistently:
#1 – Plug holes in the bucket
#2 – Get repeat buyers
#3 – Add more offers
Let’s go through each one and I’ll show you some examples.
The easiest one to do, that gets you quick wins and quick money, is “plugging holes” in your business bucket.
#1 Plug holes in the bucket
What does it mean to plug holes in the bucket? It’s finding where you’re leaving money on the table. It’s…
1) Places in your business where you aren’t following up
2) You are making it hard for your prospects to buy stuff.
Let’s look at an example by doing a quick Google search for “backyard shed installed”:
At the top is a Google ad for studio-shed.com. This company is paying for clicks from Google. They are SPENDING money to get people to their site. And these are what we call “qualified clicks”. They aren’t just random people seeing the ad. They’re people who are LOOKING for a solution.
Which is why Google clicks are way more expensive than Facebook clicks.
And what is this company doing with these expensive clicks?
They send you to a page with no opportunity to continue the conversation. No place to put in your email besides a “newsletter” at the bottom of the page:
Sending Google traffic to a page like this is like going up to an attractive person in a bar, having a great conversation, and then telling them that you don’t own a phone. It’s frustrating for everyone involved.
This company only gets an email address if someone gets a quote, or uses their design tool. They have no way to follow up with anyone who isn’t ready for a quote or design.
If someone clicks on this website and then clicks away, they only have one way to talk to that person again: Retargeting ads.
In other words, spending more of their hard-earned money.
This is why you start with plugging holes in the bucket. You find the places where you’re already spending money, already have traffic, or already have an email list, but you’re just not converting those people. It’s as close to free money as you can get.
#2 Get repeat buyers
Every great business I’ve ever worked with has one thing in common… repeat buyers. One company that has mastered this is Keurig.
Take a look at this first email from the welcome sequence for the coffee company Keurig. A welcome sequence is a series of emails that’s sent out when somebody first comes to your website and wants to learn more.
Here’s their first email:
Right away they’re pushing you into a subscription program with 25% off recurring AND one-time orders. This is a one-two punch, get that recurring subscription money but also enticing them to come back for one-time orders.
Subscriptions are a great way to get recurring revenue from your customers every month. But, not all businesses have a product that works for a subscription.
What do you do if you don’t have a consumable product or service? Borrow from this example from REI:
REI has a membership program they call the REI Co-op. For $20 you become a lifetime member and earn a 10% dividend on all orders.
Where’s the repeat buyer in this?
Well, the only way to get that 10% dividend is to buy more stuff from REI. That makes it more likely that you’ll come back and buy from REI versus their competitors.
Oh, and one more thing about that 10% dividend…
It expires. You have to “use it or lose it.” This gives their customers a reason to come back and buy again THIS YEAR. It gives customers built-in urgency to come back into the store.
Subscription and membership models allow you to build a better business by always having cash coming in. This lets you develop more products and afford more marketing. All while building a long term relationship with your customers.
#3 Add more offers
Adding more offers is the harder but, it can completely change the character of your business. Looking back at all the companies I’ve worked with… adding more offers is the surest way to push a six-figure company into seven figures.
In other words, we add more SKUs, we add more things to sell your existing customers.
More SKUs means more conversions and higher order values.
A good example of this is the company Misen, they sell chef’s knives. But they’ve recently started taking over the whole kitchen:
They know their customers are chefs who have good knives. They’d probably like a good roasting pan too. They found a way to sell their customers more stuff.
Another good example is Dixxon Flannel.
Dixxon does limited releases of flannel clothing. It’s similar to Nike’s releases of limited edition Jordan’s. When there’s a limited number available it gives the product exclusivity and builds a loyal fan base of customers who keep coming back to get those limited releases.
Adding more offers works best when it’s combined with getting repeat buyers and plugging the holes in the bucket.
A great example would be a checkout with an upsell to a membership club for your customers. That gives you a higher conversion on every order that takes that upsell offer. And, now you’ve got that repeat buyer.
Those are examples of the three strategies I use to help clients double their business.
Number one, plug holes in the bucket…
Number two, get repeat buyers…
And number three, add more offers.
The next few posts will be all about the tactical stuff. I’ll show you in detail how I do this. How I go in and look at businesses as a whole and help them develop a plan to double in a year or less.
If you found this post helpful, please let me know with a comment below!