Last week we had a great little Planning Session in the Inner Circle. After giving it our ALL for the craziness of Black Friday, Cyber Monday week, many of us are out of steam and out of ideas. There are still weeks of selling to do before you close for the holidays....
Our Inner Circle Member Jen had a sales increase 950% last year.
And, she started paying herself.
I love this because she’s set herself up for financial success as she grows.
But even though she’s had all this success, this week, she posted in our member’s Group, and it started with this:
“I’m feeling a bit lost — I have SO many ideas and I’m unsure where to focus my energy this year.”
And even though it might seem like everyone else has it all figured out, here’s what I know.
Pretty much any one of us could have written this at one time or another.
So, how do we know what to focus on? We can’t do everything.
Because this is a common issue, I thought it would be really helpful to demonstrate how you can break it all down, organize it, and then get clear on what you should focus on to get the growth you want.
And then you can make your plan.
And I thought it would be fun, just to grab Jen and jump on a live, so you can see how it will work for a real business!
Watch here to see the 4 steps you can take to untangle all your thoughts and get clear on your next steps.
Here are the 4 steps:
Identify what got you this far. What was the work you did that got you here?
When you take the time to do this, it forces you to use data.
And when you know what really worked to get you sales, you’ll find clues, and identify the important work in your business.
Example: Jen’s 2020 Sales breakdown by source
- 34% of sales – Zipper pouch collaborations with artists
- 26% of sales – Masks
- 23% of sales – Limited Edition / One of a Kind Bags
- 8% of sales – Wholesale
Identify the Marketing you did to get you sales.
Take the time to make a list of all the activities you did that you can directly connect to sales. In Jen’s case, she did very little advertising. Her growth was organic.
She promised herself to send an email campaign every week in 2020, and she followed through. A big chunk of her sales growth came from email.
She also committed to sharing new products with her audience before they launched. She focused on “newness” and focussed her social media posts and email campaigns each time she introduced a new product.
Example: Jen’s activity that directly resulted in sales
- Limited /one of a kind bag releases and treating each one like an event
- New artist collaborations, treating each like a launch
- Weekly Email campaigns, (especially related to a launch/event)
Make a clear list of ideas you’re thinking about.
Get these “ideas” out of your head, and on paper.
Review the list, and make a note of the time and money you’d need to invest if you decided to run with any of them.
Example: 4 ideas Jen is thinking about for this year:
- Make myself one of the artists and release a limited edition zipper pouch monthly that features my own art
- Add more artists for zipper pouch collaborations (ones that have an audience of buyers)
- Sell zipper pouches wholesale to artists (with their artwork on it) for them to sell in their own shops
- Focus on creating limited edition collection – release a new limited style monthly
Refine the List.
Your goal is to identify the “ideas” that are aligned with what’s already working in your business.
Eliminate any ideas that either require more time or more money than you can commit or ones that are not scalable.
- How do I double down on what’s already working?
- How to do I find my best opportunity for growth, based on clues from what’s already working
In Jen’s case, she identified that her #1 source of revenue is her zipper pouches. And her #1 marketing activity is releasing new pouches and treating it like an event.
When we reviewed Jen’s ideas, it was clear.
Selling zipper pouches at wholesale to other Artists would take a big investment of time because it’s not something she’s already doing.
Creating a new Limited Edition bag every month is not scalable, because even if she outsourced the sewing, Jen would have to design a new bag, and spend time creating a new pattern each month.
Jen’s best bet is to continue launching new zipper pouches each month, and use her own art for the designs on the zipper pouches. This idea is scalable, aligned with what’s already working, and she has already perfected the marketing for this approach.
As her audience grows, she doesn’t have to reinvent the wheel, she can simply print more pouches with each release.
If Jen implements this one idea (instead of many) and she focuses on growing her audience and email lists, she’ll be able to reach her goals without having to work longer hours or invest in new marketing strategies.
If you have questions, comment below and ask me!
So, here’s what I need you to do next.
First, sign up to get updates in your inbox:
Then, be sure to Like and Follow my page on Facebook. I’ll be posting regular updates there!
That’s it! It will be a fun adventure, all the way from 0 to $50K on Shopify!
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