Nobody Wants A Leaking Business.. (Full Video Out Now)
Summary
- Imagine your business as a bucket. If it has leaks, it won't fill up no matter how much you pour into it. Fixing those leaks is crucial to growth.
- Focus on keeping your existing customers. If your bucket isn't leaking, you can keep and compound your revenue over time.
- Once you fix the leaks, you can increase how much you pour into the bucket, leading to an overflow of customers and cash.
- Retention is just as important as acquisition. By maintaining what you already have, you ensure long-term success and financial abundance.
Video
How To Take Action
I would suggest first imagining your business like a bucket. Look for leaks, which are things causing customers to leave or not purchase again. This might be poor service, bad quality products, or confusing processes. Identifying and fixing these is crucial because if your bucket is leaking, no amount of effort will keep it full.
A good way of doing this is to ask for feedback. Talk to your customers directly or send a simple survey. Use this feedback to improve what needs fixing. This costs very little and can have a big impact.
Next, focus on keeping your existing customers happy. Retention is super important. Try creating a loyalty program or sending them thank you notes or special discounts. This small effort keeps customers around and can lead to them spending more over time.
Once your bucket is steady, think about increasing your efforts to bring in new customers. Now, the extra cash and effort you put in will actually make a difference because you’re keeping more of your revenue.
Continuously evaluate and tweak your customer experience. This can be as simple as walking through the buying process yourself to spot what could be smoother or more enjoyable.
Remember, consistently working on what you already have while slowly adding more is how you ensure long-term success and financial growth. Keep your bucket strong, and it'll spill over with success.
Full Transcript
imagine this bucket is your business and imagine this is customers coming in the door if you don't fix this leaky bucket you stay at the same level forever and so once you fix it you can flow all as much as you want but now you're keeping your customers and your Revenue compounded and if you keep doing it over dive you'll have more money than you know what to do with and you'll be overflowing with customers and cash
