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Tag: business rules

August 29, 2019

The Law of Averages (And How It Changes the Game)

If you’ve spent any time with me in a business capacity, then you’ve probably heard me talk about my business view in relation to the Law of Averages, but what exactly am I talking about? Math equations? Mean, median, and mode?

Not quite.

I’m actually talking about the fact that (on average) you’ll land at least some of your traffic, or, you’ll convert some of your potentials into customers. This means the more eyes on your site or business, the more leads you will get, and the more leads you get, the better your odds are that some of them will be qualified and choose to work with you.

At its most simple – how many customers will you get if no one knows you exist? Zero, of course. How many customers will you get if lots of people know you exist? At the very least, more than zero.

This isn’t to say you don’t have to be a good company, it’s simply saying that you need to not only be a good company – you also have to be good at advertising, getting out there, and responding to every lead.

Let’s look at the Law of Averages a little more closely and see why I think it’s one of the most important business rules of our time, especially in the online world.

Why is the Law of Averages Important?

The Law of Averages is important because it deals with both SEO and traditional advertising all wrapped up into one neat, little law.

SEO is all about trying to get higher rankings and therefore, better traffic (more clicks, customers, and closings) by making your site nicer. Essentially, SEO is about getting your website, product, or service in front of as many people as possible – sounds a lot like advertising, doesn’t it?

If your site ranks well, then more people will visit it. If more people visit your site and you have a good business model, service, or product, then you’ll get more leads. If you get more leads, then odds are you’ll get more closings. This is the premise for old school adverts too – more people see it, more people inquire about your service/product, more sales/customers are made.

This might seem like an overly simplified concept, and it is, but it doesn’t mean it isn’t true. And this is why I think at any business’ core you have to be focused on both your service and your presence (or your business model and your website/SEO).

How Can I Take Advantage of the Law of Averages?

You can (and should) take advantage of this law by following up with every lead that comes through your doors.

Thirty years ago, this would look like greeting each customer and treating them like your most important client, however, now, much of business is done online, so you need to make sure you are keeping up with your form submissions, emails, calls, and digital meeting requests.

Did you know that many of my company’s clients ultimately chose us, JSL Marketing, because we were the most responsive and the first person to get back to them after they submitted a form? Usually within just an hour or two.

Of course, this bumps our ‘average’ much higher than mere chance. Which brings me to my next (and most important) point.

The Law of Averages Should Be Your Baseline

This point is to say that your ‘average’ should be just the beginning. If even a terrible website or company will occasionally get a lead, then yours should be getting many more. This means you need to marry great service, customer care, responsiveness, and a well curated website in order to meet your true potential.

Merely lazily following up with leads that trickle in without really giving value might get you the occasional client or sale, but that is the bare minimum. Instead, know that you should answer every lead because the Law of Averages says so, but then go above and beyond to wow each and every potential lead. I bet you’ll be impressed by how quickly your baseline for successful closures or sales grows.

Ready to Find Your Average Baseline & Then Blow it Out of the Water?

Contact me for business coaching, sales coaching, or speaking engagements if you want to learn more about my business models, thoughts, and startup success. And stay tuned, as JamesLeff.com is going live soon!

Check back often for my launch date – until then, contact me here, or call me at 817.435.1350.

June 06, 2019

The Single Most Important Rule in Business (And it Has Nothing to Do with Your Customers)

No, the customer is not always right (especially in digital marketing and sales coaching, trust me), and no, there aren’t magical words that will make your sales skyrocket, or some step-by-step template that will guarantee your business becomes a success.

But there is a lot of sage business advice out there. In fact, here are a few of my favorite business quotes:

Management quote

Enjoy Marketing Work Quote

Management matters quote

 

Are you sensing a theme yet? Yes, my single most important rule in business isn’t about your customers nearly as much as it is about your management. After all, management is the driver of the bus, the captain of the ship, and the pilot of the plane, right?

But if my business rule is about management, but isn’t about customers – then what is it about?

Treat employees well graphic

Let me say this again just to make sure it truly sinks in – treat your employees how you want them to treat your customers.

The JSL management team truly believes that if we treat our employees with respect, listen to them, engage with them, and educate them, then they will do the same for our clients. And because managers cannot be everywhere with every client in every meeting at all times, we need to be able to delegate to our team and trust that they are treating our clients as well as we would.

How do we do that? Now, here is a subject that can be broken down into a simple step-by-step template.

Educate Your Employees (So They Will Educate Your Clients)

If you actively encourage your employees to seek out knowledge, to be forever learners in their field, and to have ‘fail-spaces’ where they can try new things (AKA learning spaces instead of only performing spaces) then you will have a workforce that can explain the value of your business’ services to potential clients, answer questions to current clients, and learn from mistakes with past clients.

Now, you can educate your employees in a number of ways – from compensating them for continued education classes or even new degrees, to encouraging them to have training seminars and hours set aside in their quarterly, monthly, or weekly schedules. But it is also important to cultivate a culture of learning, growing, trying, and adapting.

When you learn something new in your field, share it with your team (and encourage them to do the same with you and others). We should all be sharing our new discoveries in our fields or areas of expertise, because if we’re constantly learning, then we’ll constantly be able to improve our practices and services – which directly helps our customers, reputation, and therefore, sales.

Listen to Your Employees (So They Will Listen to Your Clients)

This one is big – listen to your employees.

Maybe they are on the ground floor and you are in a high-rise. Maybe they deal day-to-day with clients and you haven’t had a meeting with a client in years. Maybe they know the pitfalls of the product because they work in customer service, and you rarely use the product, if at all. All these scenarios mean that your employees know better than you do in certain areas.

But even if they don’t know better, listening doesn’t hurt. Listening shows them, first, that they can share their opinions, and second, that they are valued.

Now, do you want an employee who feels undervalued helping your client through the sales flywheel, or do you want one who feels heard, valued, and appreciated helping that client? It’s an easy choice, and an easy solution.

If you treat your team with respect, they will treat your clients with respect. If you listen to your team, you might learn something – and you will, in turn, teach them to listen to your clients. And, lastly, if you make your team feel valued and heard, then they will make your clients feel valued and heard.

Lead by example, but not just the example of how to treat your clients – lead by treating your team how you want to be treated, how they want to be treated, and how your clients want to be treated.

It Really Isn’t Rocket Science, Is It?

Sometimes your employees need a little help, whether that be with scheduling, practice, education, or something else related to their skills. And helping your employees is good for your entire business in the long run. It might take some of your time now, and I know that management’s time is scarce and valuable – but think of the message it sends your workforce when you listen to them or when you make time in meetings for someone to share what they’ve learned.

In management, you want to motivate your company and your employees to always try to be better, to provide better services, better products, or better customer care. One of the best ways I’ve found to do this is by encouraging your team to always reach, learn, try, and speak.

In some ways, this goes back to the JSL company culture, but in other ways, it speaks to a new kind of management style. And that is a management style where you lead by example and show your workforce exactly how they should treat clients, regardless of how much contact you actually have with the clients.

Whether you are a team of 6 or 600, this business rule stands true – treat your employees how you want them to treat your customers; educate them, listen to them, and then let them improve your business and care for your clients with the confidence and skills you’ve given them.