Do you know all of your sales numbers for your business? It is a common mistake for new entrepreneurs to not understand the difference between financial numbers and sales numbers. Without knowing your sales numbers, you cannot turn your passion into profit. In today’s episode, host May Yeo Silvers talks about the sales numbers you absolutely must know in your business.
May explains that while exact sales numbers differ for every business owner, they do not differ in the manner in which they are calculated. She gives an example working backward from an income goal of $120,000 and walks through how to arrive at each sales number including calculating conversion rate, number of qualified leads, and how many sales you need to make to reach the desired income. May also explains the 80/20 rule which states that in a room of 100 people, only 20 will actually hear you and maybe 1 or 2 will become a sale. When you can see each sales number tracked, then you have a better understanding of what is required to reach your goals.
Sales numbers are different from financial numbers, but are just as important for running a successful and profitable business. Tune into this episode of The Unstoppable Eventrepreneur™ for a deeper dive into the sales numbers every business owner must know.
Quotes
• “There’s a big difference between financial numbers and sales numbers.” (1:41-1:45 | May)
• “A lead is someone who knows the services you provide and they want and need the services you provide. They know how much you cost and they’re able to pay how much you are charging.” (5:05-5:23 | May)
• “The goal here is to work less and make more. So you need to keep testing your price point to see where you are in terms of your conversion rate.” (9:07-9:18 | May)
• “You want to be able to track all these numbers to see what your closing rate is. You want to be able to reverse engineer the numbers.” (17:11-17:18 | May)
Links
Connect with me at: [email protected]
Website: events4anyone.com
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