Phil Risher says businesses making $1 million to $10 million rarely need more leads. They lose money because leads sit in CRMs with no follow-up, no nurture sequences, and no ask for repeat business or referrals. The fix is systems, not more lead generation.
At $1 million to $10 million, your problem is usually not leads, it's lead management. You have leads coming into your business, you have leads sitting in your CRM database, you have leads that are external referral partners that you never stay in touch with. A lead comes in, you talk to them on the phone once, they say they'll call you back, poof, it's gone forever. There's no lead nurture sequence. A lead comes into your business, gets an estimate, and no one ever follows up with them, poof, it's stuck in your CRM. A lead actually goes through, turns into a job, gets an estimate, closes, poof, they just sit there. No one ever asks them if they want to do service again. No one ever tells them about all the other great stuff that you do. They already know, like, trust you, and then you have people sending you referrals, but you never touch base with them. You never tell them about all the other stuff that you do. You never even thank them for the referrals. You never build a system for referrals. You just get referrals coming in randomly. The problem is that all these things are happening, but you don't have a system to make sure that more of it happens. And it's not just you need more leads, you need a better way to manage your leads to get more revenue out of them and generate more opportunities for your business.
