Wednesday, June 29, 2016

STRATEGY 17

Recently, I heard a business consultant, whose name I've
forgotten, interviewed on the radio and he claimed it takes
an average of 17 contacts for a customer to make their
first purchase from a new business. Now, I have no idea
where he got that statistic and I doubt it has any
precision to it, but it does contain an essential business
truth.
This week, two clients made dramatically different comments
about their expectations for success. One volunteered that
she was developing a marketing plan she could maintain "for
at least a year, to see if it will work."  The other noted
that she had tried a program, "but no one signed up, so I
guess I'll have to try something else."
Note the difference in expectations and perceptions of
business realities.
The first understands that building her business,
attracting customers and achieving profitability is a long-
term process. She's intentionally focused on a cost
structure she can maintain for many months, even if there
are few initial sales. The other client tried it once, it
didn't work, and now wants to try "something different." 
Now of course, I hope your sales come quickly, easily and
profitably, but in designing your business, always think in
terms of sustainability. Design systems that you can
support financially and emotionally over the long-term. It
may take 17 invitations, or 17 weeks, or 17 promotions, or
17 conversations before you become an "over-night
sensation!" Plan accordingly.

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