Sales Funnels vs Flywheels

Let’s start with a fact. ?It’s tough attracting the right clients this year. ?

Some of these factors are external:

• election year
• the Covid hangover
• increased competition

But some of the factors lie within, meaning we can do something about it. ?Over the last 6-weeks Sue and I have been working on our Flywheel. ?We’ve read the book, listened to the podcast, done our due diligence. ?We see the Flywheel as a solution to a sales funnel that no longer works. ?A way to grow with momentum that increases over time. ?

So step back from those weeds and get ready to get excited, we think we’ve found your leads!

This is one of my shiny bright objects after listening to this podcast where Tim Ferris interviewed Jim Collins, so of course I had to run it past Sue (our own VBM) to qualify and have it slotted into our priorities. ?Sue and I have worked on this together, taking a step-by-step approach which I’ve shared with you in the download below. ?

The Flywheel Concept

Imagine a concept that's like turning a heavy wheel with your hands. At first, it's hard work, but once it starts moving, it gains its own momentum and becomes easier to turn.

This powerful idea is called ‘The Flywheel Concept'.

When small wins for a business build on each other over time and eventually gain so much momentum that growth almost seems to happen by itself.

?TIP ?? Be a Hedgehog

“Those who built the good-to-great companies were, to one degree or another, hedgehogs. They used their hedgehog nature to drive toward what we came to call a Hedgehog Concept for their companies. Those who led the comparison companies tended to be foxes, never gaining the clarifying advantage of a Hedgehog Concept, being instead scattered, diffused, and inconsistent.”

Extract from The Hedgehog Concept, by Jim Collins

Answer these three questions:

1. What are you deeply passionate about?
2. What can you be the best in the world at?
3. What best drives your economic or resource engine?

The intersection of these is where you shift to great.

TIP ??Learn From the Best

Hubspot came up in our research. ?If they’ve moved their focus from a funnel to a flywheel, then I think we’re onto something.

Watch their video explaining why it’s time to shift ??

TIP ?? Replicating Success

• Who are your best clients? ?
• Where did they find you? ?
• What has their journey with you been? ?

By listing and understanding these replicable successes you can then start to draft your flywheel. ?And repeat the success.

QUESTION ?

Is Your Sales Funnel Working Right Now?

If not, let’s try a new strategy that’s turned companies like Amazon and Hubspot from good to great.

If yes, it’s possible a flywheel can elevate this success.

Your Turn!

Download this guide I’ve put together for you. ?In it we include:

• Our framework for documenting our flywheel
• Benefits of a flywheel
• How to measure and execute your flywheel
• Resources to help you understand more about the flywheel concept

Let’s find those leads … actually let’s find your success!