The following is a short excerpt from our eBook “The 30/30/30 Formula That Will Double Your Business Success within 12 Months”. The 30/30/30 formula is one of the most powerful and effective business development tools available. I know exactly what it’s like to be an entrepreneur; the long hours, the stress, the never-ending demand for more clients, and more revenue. As a result of always being in “sale mode,” you tend to lose out on developing strong relationships with your current clients says Brian C Jensen. It’s just not something that naturally happens when you have a million other things going on.
But if you can stop focusing so much on selling new business all the time and take some time to focus on servicing your existing client base; you’ll see your sales more than double within the next 12 months. I know, because this is exactly what has happened with my business after many years of trial and error.
The 30/30 Formula in Action…
When I started my agency over ten years ago, I made the same mistake that most entrepreneurs make when they start their first business; I tried to do everything myself as cheap as possible, and as a result, I struggled to find clients and never made any real money.
When I started my second business four years later, I decided that would be different. I was going to hire the best people and give them their marching orders and let them do their job explains Brian C Jensen. Even though this method gave me more time to sell, it still wasn’t enough for me to see explosive growth in my business. And then it finally dawned on me – if you want your team members to work harder than you ever could by yourself, they need to know exactly what’s expected of them. In other words, they need KPIs (key performance indicators).
In order for my team members,’ KPIs not only to make sense but also to be effective, they had to be SMART. Here are some examples of KPIs I would use for my marketing team members:
KPIs have become some of the most important tools that I’ve used since implementing this strategy into my business. With these simple tools, I was able to achieve more in three years than I did in my previous company in ten years; and it’s not just me – every single business owner who has started using KPIs has seen similar results. Here is a graph representing our revenue over the last four quarters (our busiest one being Q3 of 2015) with no major marketing activities (a little bit of blogging maybe).
The 30/30 Formula…
As you can see, we managed to grow our company by 50% YOY without doing any marketing at all. And even though we have no hard stats to prove it yet, I’m confident that our clients’ businesses have seen similar growth as well.
Now you’re probably wondering how this relates to the 30/30 formula. Well, not only is it a great way to double your sales in less than a year, but it’s also an effective tool for helping you prioritize your tasks and manage your employees. Brian C Jensen says most entrepreneurs have a tendency to take on too much or focus on the wrong things when they’re first starting out because they simply don’t know what’s most important. However, you can eliminate this issue completely just by following the 30/30/30 rule (and a little bit of self-discipline).
The 30/30/30 Formula…
As you may have guessed, the 30/30 is broken down into three sections: 30% of your time should be spent on prospecting new clients. This doesn’t include following up with existing ones or keeping in touch with potential prospects that you met at networking events – it’s about finding new people who would benefit from what you’re selling. 20% of your time should be dedicated to servicing current clients says Brian C Jensen. By “servicing” I don’t mean billing them every month; I mean actually helping them solve their problems and answer their questions for free. You can do this by tweeting helpful tips or writing blog posts to help out other entrepreneurs (and prospective clients) like you. 30% of your time should be spent on everything else (including blogging, networking, etc.).
As far as KPIs go, I’ve found that if you manage to keep your prospecting efforts above 30% and you’re follow-up/service at around 20%, you can successfully grow any business in a year’s time. If you have an intrest in learning more about how to apply the 30/30 formula into a simple 5-step action plan, then check out my book “Double Your Revenue in One Year”.
Chances are you’re an entrepreneur and you know your business can grow, but despite how many hours you’ve spent trying to figure out the best way to do it, growth seems like a far-off dream explains Brian C Jensen. You might even be thinking that simply doubling your revenue and making more money is impossible (it’s not). I know this because I’ve done it before – twice in fact. And so have hundreds of other entrepreneurs just like me who were able to achieve explosive growth by implementing the 30/30 rule into their businesses.