Double Your Business with the Rule of 26
Reuben Swartz
Fun "Anti-CRM" for Solo Consultants Who Hate "Selling" but Love Serving Clients. Put the "relationship" back in CRM: conversations, referrals, follow-up, lead magnets, proposals. Host of the Sales for Nerds Podcast ????
If you want to double your business, you might think you need twice as many leads, twice as many meetings, twice as many proposals, etc.
That can seem like a big leap.
But thanks to the magic of compounding, you don't actually need to double any single metric to double your overall business.
Michael Buzinski recently came on Sales for Nerds to talk about this idea, which forms the basis for his book, The Rule of 26: Three Steps to Doubling Website Revenue for Service-Based Businesses. (Listen below...)
If you increase these metrics by 26%, you double your business:
- Traffic
- Conversion Rate
- Average Revenue per Client
Michael also discusses what order to tackle these KPIs (hint: start at the bottom, and work your way up), and what to do for each of them.
Of course, you might have so little web traffic and conversion that even doubling won't help, but you can apply the same principles to referral business.
As I show in the screenshot above from the Mimiran Pipeline Planner page, with 5 metrics (I've added some additional steps in the buyer's journey), a 15% improvement leads to doubling.
Of course, you may not want to double your business. You may not want the headaches. But you can apply the same idea towards your own goal(s):
- Make the same money in half the time.
- Waste less time on prospects who don't fit.
- Keep your income the same, but leave time for pro-bono work.
Etc, etc.
As we approach November, (past?) time to think about 2023. What would you like to improve in your sales and marketing process? What would success mean in your KPIs?
Improve, Streamline & Document Your Business Processes | Process Nerd | Systems Specialist | Efficiency Expert
2 å¹´Reuben Swartz I would like to increase the number of places we get leads and referrals from. I love the places we are currently getting leads from now, but would love more of those great places!
Your LinkedIn Strategy is Hurting My Heart and My Eyeball | "Arguably America's Top LinkedIn Thought Leader" - Forbes | 7 Figure Business Owners: Deliver a "B*tch Slap of Truth" to Your Most Lucrative Target Audience.
2 å¹´Let's shout it from the rooftops: WASTE LESS TIME ON CLIENTS WHO DON'T FIT!!!!!
Guiding Women Executives 45+ to Lead with Intuition and Confidence While Navigating High-Stakes Decisions—Using Intuitive Access to Create Immediate Connection and Transformative Insights l Keynote Speaker | She/her |
2 å¹´What a clear message for all of us with service-based businesses, Reuben SwartzT Thank you for this!
Managing Partner at DCG Advisory LLC | Financial Planner /Enrolled Agent offering Fee-Only Financial Planning, Investment Advising, Financial Advising, & Tax Planning
2 å¹´This is extremely interesting, Reuben Swartz!!!!!! I will come back later and look closer. I love the concept!
Advisor Helping Clients Invest in Life Fully Lived
2 å¹´I'm all about compounding for efficiency! This will be added to my play list! Thanks for sharing Reuben Swartz