Quantum Leap

Lesson 10 Chapter 1 Module 2

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Video Transcript

My name is Neil Morecraft and this is Autom8, and in this module, we're going to look at taking a quantum leap. Now you'll see on the little screen here, the quantum leap guys, back in the eighties, if you remember that show, I know I certainly do. You remember that guy used to jump around from you know, different bodies into the future and all this kind of stuff. I'm not necessarily talking about that type of quantum leap. I'm talking about more making a quantum leap in your business. And in order to do that, we need to understand where you are now, what success looks like. What's your why, set some smart goals, and then understanding that you don't actually have to go the traditional way. It's interesting. When I talk to customers and clients, when I go out and I consult and they start talking about growth and they may say, well, we add, you know, 10% growth year on year in our sales department.

And I start thinking about why we thought about a hundred percent growth or 200% growth. And a lot of the time that just seems really daft and unrealistic and scary, but the truth is it isn't. And you can set some really big, scary goals and doing the right things in the right order means that you can actually go from A to Z. You don't have to go through the traditional stages of growth. You can make a really big quantum leap in your business. So that's what we're going to cover in this module. There's no doing in this. This is just going to be a quick overview of me talking about some stuff and maybe giving you some pointers. So we can get really clear on these things here, where you are now, what success looks like, why you do the things you do, and then just integrating some SMART goals into the project process that we're going through so that you can realistically achieve the things that you want to achieve.

So on that note, where are you now? So I think it was Peter Drucker that said we cannot manage what we cannot measure. And that's really important to know. At this stage you may not have thought too much about it, but you need to know exactly where you are. So I've given you a few examples here, but this is only because this is kind of the course content. This could be anything, but you know, how many leads are you getting right now? How much web traffic you're getting right now? What's your average order value? How many appointments do you do each week? Those kinds of things are important to know, because you're going to want to know in the future, I, at the end of this course, that you've made improvements on those and actually you've, you have transformed. So you need to think a little bit about all of that.

And as I say, this might be just a, you know, an example where I'm saying whatever glitch, again, that might not be relevant for you at this point. It might be where you are in your life right now, and you may have a vision of your business, but it's important to kind of get that solidified so that you really know where you're at. Now, this little book here, you two are you squared is, was from a guy called Price Pritchet. I've actually got it in front of me here. It's a very small booklet. It's quite a costly booklet for the price of it. I think it was about 17 or 18 pounds on Amazon. It's only 36, 38 pages long, and half of those are kind of graphic, but there's some really good nuggets of wisdom on how you can do exactly this, make a quantum leap in your business and in your life and go from A to Z and all the bits in the middle and start to think about, yeah, you know, what is a really big, exciting, scary goal, rather than just think about these small incremental changes, what would make a massive difference to you?

And, and how would you want to be able to get there? So, as I say, if you've got the time, pop onto Amazon and get this book, as I say, it's a very small, thin paperback is about 20 quid, but it's probably 20 quid worth spending.

What does success look like? Now, I want to talk a little bit about this, and I've given you some examples here in monetary terms, because it's easy for me then to measure this and you might want to do the same thing, but success isn't about money. And certainly goals should not really be money orientated. Money is not the goal. But you know, business is about making revenue and if you're not making money, then you're not in business. So, as an example, I've given you some things here and I'm just going to talk you through it, because this is a very real example on a particular project that I'm working on, and it may be very similar in your business.

So if we invest a thousand pound a month in online advertising, and we know that our cost per lead is for example, 200 quid, but don't know that yet, but we will do after we've done some advertising and that we need, let's say five leads to generate two prospects. We know then, what it takes to generate a good prospect and we can calculate the cost per acquisition.

Now the cost per acquisition is the lead to sale ratio. How many leads do you get, or do you need before you actually sell something? And for this example, I'm going to assume that one in two, although ultimately one in three point something is probably more the norm we will, and you will understand these metrics at the end of this course, because that's what we're going to focus on. It's really important that we know what your cost per lead is, what your cost per sale is, what your customer acquisition cost is.

Because as this last point demonstrates if we know that the average revenue, and I think the average revenue for this particular project I'm working on is about 5,000 pounds. We know that if we generate two good quality leads and we close one in those, we're going to get a 5,000 pound return on a 1000 pound investment. And that's a 400% ROI.

Now I say, it's not as easy as that. It kind of is as easy as that, when you understand the metrics, now these numbers may change of course, it might not be 200 quid a lead, it might be 280 quid a lead. It might not be five leads to generate two prospects. It could be seven, but you understand that ultimately there is some science going on and there is some metrics that if we understand them, we end up with a customer acquisition cost and that customer acquisition cost is, will, how much does it actually cost to get a customer?

And when you know that you can get your water out and you can spend your money on ads, knowing quite confidently that for every X amount of money you spend, you're going to get X amount of money in return. So I want you to have a little think about what that success looks like in a format that you can measure. So not just, Oh, what I'd like to be doing something in a year's time or whatever. You know, how many customers would it be that you're serving? How much revenue would it be that you're making that type of thing. So you can write it down, think about it, measure it and move forward. I want to talk here about what's your why?

And like I just mentioned there, money is not the goal and it really isn't. The goal is the by-product of your success. So don't be driven by money. If you are driven by money in this business of yours, you're probably in the wrong business, you need to be doing something that you're passionate about because ultimately there are going to be times when you think, oh, hang on a minute. I can't do this. And you're going to need something to drive you through. And that's something is your passion for whatever it is you're doing. The more you think about this, the more you then you start to solidify what your value proposition is, and that's really important. So we're going to talk a bit more about your value proposition later on in the process. But I want you to think now about why are you in the business that you're in and start to think about the reasons that you do your things you do, because that is the driver behind this.

And if you don't have that passion and commitment to what you're doing, at some point in this process, you're going to think it's not worth it. And drop-off, and if that's the case, now be the time to tell me because at this point we're moving into a week two, if you haven't seen the value in this, week one, I'm quite happy to give you your money back. So it's as simple as that. So if you think, you know what, maybe I've made a mistake here and the type of business that I'm in and you're not fully committed to it. Tell me, now I'll give you money back and we'll part ways, but if you are in the right business and I hope that you are, and you're in the business for the right reason then now is the time to really start thinking about your why, and getting clear on what are your SMART goals.

Now, this isn't a sales course. This isn't a sales and marketing course as such. It's more about automating your business. And I don't want to teach you how to suck eggs, because if you're in business, you're going to understand goals and targets and all that kind of stuff already. But I want you to think a little bit about these SMART goals, because quite often I see that people set a goal and it isn't realistic, or they set a goal and there's no way to manage it. And, and ultimately they set a goal and they maybe don't put the right timer on it. So this smart methodology is really important. And actually you'll see that if you could dive back into your Asana workspace, all of those tasks are effectively smart goals. There are ways that we can measure them. There are ways for you to achieve them. They're realistic, they've got a timestamp on, and they're very specific. And that's the point. If you go through this process bit by bit task by task, understanding that this is a smart methodology at the end of the six weeks, you're absolutely going to get the result that you look for. As long as your goals are realistic and timely and achievable, measurable.

So I want you to just think a little bit about that if you haven't done so already start thinking about one big, nice, hairy big goal that you can have for your business. And maybe write that down on a piece of paper and use that as your driver every day, to make sure that you do the things that you need to do. So on that note, that's the end of this module. I will see you in the next module.