“Can you please give me a step-by-step guide to what I need to do in order to get my first payment from a client or customer to money in the bank?”
This question came in from one of my subscribers, Trish. And, first of all, I say ‘thank you Trish’ for sending this question in – I have to say you are a woman after my own heart because you are focusing on what I think is the most important part in any business, the place where money changes hands.
You might think that’s obvious, that’s key. But, in my experience, I’ve seen it’s not obvious to so many people. They are doing a lot of what I call creative avoidance. They’re doing anything and everything. They’re doing things that they hope will translate into money in the bank. They are focussing on growing an Instagram following or Facebook page or creating webinars or starting a YouTube channel. There’s lots of stuff that you can add to your to do list and hope that it will put money in the bank, but that’s not good enough for me.
Start with The End In Mind
My attitude to goals and outcomes has always been this – If you know that your desired end result is money in the bank, what are the steps to get there? The best way that I know to figure this out is to reverse engineer. So, as Steven Covey would say, “You begin with the end in mind.” If we’re now at the end-point of money in the bank, what are the steps that have to happen to lead up to that point?
To get paid, you’ll probably need to have some interaction with a customer. When you’re starting out, the best way to do this is through conversation. We call these conversations, sales conversations. Can you sell from a webpage? Yes, you can, but you’re gonna find that your conversion rates can be anything between 30 and 80% from having an in-person conversation (it doesn’t have to be in person, it could be done over Skype or it could be done on the telephone)
So, whereas a website and setting up a wholly commerce platform could take a fair bit of time and energy and money, it doesn’t take a lot of effort to have sales conversations. And having a sales conversation is the last step before money in the bank.
So what’s the step before the sales conversation? How do you get those sales conversations? You could go and create a lead magnet and set up a funnel where people download your lead magnet and then invite those people to a sales conversation. But when you’re starting out – there could be a quicker way. Just looking at your own warm network, you likely have people who are your ideal clients. I would suggest that instead of going and creating a whole funnel that takes time, energy, and money, why not do what you can with what you’ve got, where you’re at?
Just by reaching out or making a list of people you already know, or people that you’re connected with, you could secure your very first sales conversations. Bear in mind, even if you get a one-in-three conversion from conversation to sale, that means you only need three conversations to get your first paying client. Mm-hmm (affirmative), excited now?
So, it’s not like you have to over complicate this.
Three Steps To Make It Happen
Now, let’s get clear on what you need to do to make that happen. What else are you gonna need, in order to have those sales conversations?
You’re gonna need to have an offer. You’re gonna need to have something that you’re promising to do or deliver to the customer or client in exchange for them paying you money. How do figure that out? The best thing is to figure out the problems that people already have that they would pay to solve. So, you need to get clear on what your offer is. You need to make sure that your price is right, but pretty much, that’s all you need in place.
So, if you wanna have money in the bank, you need to focus on having sales conversations, and if you wanna have sales conversations, you need to generate those sales conversations and you need to have something to offer on those sales conversations.
Focus on those three things, and eliminate all the other stuff that’s distracting you. Focus right now on your most important outcome, which is money in the bank. If you wanna know more about this, I’ve done a special in-depth training called Get Paying Clients Now. Click here to register your place for free.