Short spoken advice on growing a small service business from $1M to $2M by using arithmetic on leads and conversion rates. The speaker emphasizes planning growth with dollar-focused strategy (calculate lead value from call booking rate, closing rate, and average ticket) and then aligning marketing spend and internal strategy to acquire the required leads.
I've been there before. Sweating payroll up at night. Stress, never enough money in the bank. It's like, man, how do we keep growing? What I don't want people to do that's listing is growing just for growth's sake. We have to have an actual strategy with the dollars that are coming into our business in order to get to where we want to go. Now let's figure out how many more leads do we actually have to get to get to say from 1 million to 2 million if we know every lead is worth X because we've done the math of what's the call booking rate? Okay, then what's the, what's the closing rate and then what's the average ticket we should know exactly. Okay, I need a thousand more leads because that's going to lead to X amount of dollars because of that. Now let's figure out, let's talk to our cmo, let's talk to other. Let's come up with a strategy and figure out how much money do we need in order to make that happen.
