After speaking around the world and consulting with hundreds of businesses on their growth strategies over the past 10 years, it still surprises me that over 99% of business leaders I speak with don’t really understand their numbers.
They say they do, but they really don’t. Watch this video and you will see what I mean.
The 4 most costly mistakes I see people make are:
- They don’t know how to set a growth budget, so they either spend more than they should or they restrict their growth significantly by not understanding the core numbers that drive a business.
- They don’t know what a client is worth to them or how to maximise the value of a client, so they leave profit on the table.
- They don’t know how much they can afford to pay to “buy” a client, so they blindly spend money on acquiring clients and then wonder why they didn’t reach their targets.
- They don’t use the law of Compound Marketing to leverage their investment and have the business grow without them putting money in.
There is no excuse for this to be happening, because the beauty of leveraging the Internet to grow your business, is that you can track the ROI on every dollar invested down to the bottom line on your profit and loss statement.
In this video I cover:
- Why setting an annual budget is one of the most expensive things you can do.
- How to use free money to pay for your business growth.
- How to accurately formulate a plan to reach your profit goals.
- How to calculate the 4 core numbers which will ensure your success.
- How to tell if your marketing campaign will be successful before your spend $1 on advertising.
After shooting this video I thought why not make a calculator so that it’s easier for viewers to use than a worksheet. I made it and put it here.
You may also like some of my other videos Why Marketing Campaigns Fail.
And if you would like to explore working with me watch this video.