or scroll down to get the highlights

Supercharge Your E-Commerce Business: A Friendly Guide to Boosting Profits

So, you’ve got your shiny new e-commerce store up and running. You’re selling products you’re passionate about, and customers are starting to trickle in. But, there’s this nagging feeling in the back of your mind – “Am I making enough money?”
Today, we’re diving into one of the trickiest questions that can haunt the dreams of anyone running an online store – Gross Profit. Clear as mud, right? But trust me, it’s super important and can make or break your business. So let’s break it down in a way that’s easy to wrap your mind around.

Gross Profit = Dollars in Your Pocket

A while back, we had a podcast episode where Karen, one of our fellow e-commerce rockstars, shared her cash flow struggles. Sound familiar? She was working tirelessly month after month but felt like she was chasing her own tail, not sure why she wasn’t getting ahead. The answer was simple – not enough Gross Profit.
Now, Gross Profit might sound like jargon, but it’s just a way of saying, “how much actual money are you making after covering your product costs?” If that dollar amount isn’t high enough, it’s like trying to fill a bucket with holes in it.
Many of us start with a product, think, “I’ll sell it for twice what I paid,” but forget about all the other costs lurking in the shadows – Shopify fees, email service providers, advertising expenses, and more. Suddenly, that $5 profit looks more like pocket change.
So, we did a follow-up episode #167 (if you want to check it out) where we ditched all the confusing percentage-based pricing strategies and focused on the cold, hard dollars – Margin Contribution Dollars. Margin Contribution is simply the selling price per unit, minus the variable cost per unit.

Alison’s Journey to Profitability

Our podcast guest, Alison, who runs a successful e-commerce business (and happens to be an e-commerce coach in the Inner Circle,) had the same question many of us have – what’s a good Margin Contribution Dollar target? She’s been in the game, mastered Facebook ads, Google ads, and all the things, but finance still left her scratching her head.

Alison sells all sorts of products on her site, from high-margin socks to lower-margin walkers. Her socks might have a whopping 100% margin, while walkers are hanging out at 25%. But here’s the kicker – the actual dollar profit on walkers might be higher!

So, what’s the magic number? Well, there’s no one-size-fits-all answer, but here’s a trick – set a minimum Margin Contribution Dollar you’re willing to accept for a product. For Alison, it was around $20. If it doesn’t meet that threshold, she’s not interested.

A Bird’s Eye View of Your Finances

Before you start scrambling to redo your entire pricing strategy, take a breath. Instead of drilling down to individual products, focus on the big picture. What’s your monthly run rate? Let’s say it’s $12,000. You need to generate enough Gross Profit to cover that and leave some sweet cash for yourself. How much is up to you.

Get Your Financial House in Order

First things first, you need an income statement every month. Yes, just like clockwork. This is your financial compass, helping you navigate the e-commerce seas.

Some folks out there do their accounting on a “cash basis.” What does that mean? Well, if you receive a massive order of socks, for instance, they expense the whole shebang in that month. You can’t run an e-commerce ship that way. It’s a big no-no.

What you need is “accrual accounting.” Fancy term, but it means your cost of goods is only what you sold that month. This will give you a much clearer picture of your expenses.

If you’re working with a bookkeeper who hasn’t navigated the e-commerce waters before, they might mess up your numbers big time. Imagine them pushing that big order through every invoice. That’s a recipe for disaster, skewing your cost of goods and margins.

So, step one, make sure you’re working with someone who has e-commerce experience. And step two, get that accrued income statement every month. It’s your financial lifeline. 

Putting Data to Work: Analyzing Your Sales

Here’s where it gets exciting. Don’t be afraid to get down and dirty with your data. What products are your heroes? Which ones are playing hide and seek? Anything below, say, 10% of your total sales? Well, they might as well be invisible because they’re not making a dent in your profits.

Now, imagine this – you’ve got your sales data in one hand and your expense report in the other. You can see the pieces of the puzzle coming together. You’re not just throwing darts in the dark. You’re making informed decisions based on your business’s unique needs.

The Great Outsourcing Dilemma

But wait! You’ve analyzed your data and your expenses are creeping up. Maybe you’re using a 3PL (Third-Party Logistics) to handle your shipping, or have been paying a Virtual Assistant to manage your social media posts or customer service. Wouldn’t it make sense to bring it all back in house?

It’s tempting…but that move might not be the best for your business.

The truth is, slashing expenses won’t necessarily lead to long-term profitability if it’s going to drain your time and energy. If you have to take a course to understand Quickbooks and it still takes you 3 times longer than it would to hire out your bookkeeping…it’s not worth doing yourself.

If you sell a high price-point item and your buyers expect white glove customer service, is it worth the risk that you won’t be able to answer their questions in a timely manner?

Avoid making knee-jerk reactions to cost-cutting, and take the time to consider your long term profitability. Your focus should be on growing your business, not on menial tasks that someone else could do better and faster.

Overcoming Pricing Paralysis

Have you ever struggled with pricing your products? It’s common, especially in the e-commerce world where competition is fierce. Here’s a secret: Pricing isn’t all about being the cheapest.

Sure, some shoppers hunt for bargains, but others value factors like fast shipping or excellent customer service. Especially in the high-end market, customers are less likely to spend hours comparing prices.

Stop stressing about a couple of bucks and focus on delivering value beyond price tags. Your unique selling propositions, like superior service or unique product features, can be the reason customers choose you over a cheaper competitor.

Facing the Hard Decisions

As your business matures, you’ll need to make some tough calls. Whether it’s discontinuing a product that isn’t performing or parting ways with an underperforming team member, remember: It’s about what’s best for your business’s growth.

Don’t hold onto things that aren’t moving your business forward. Consider the data, analyze the numbers, and make informed decisions. Sometimes, you’ll need to try different approaches a few times before finding what works best.

Crushing Your Debt and Raising Your Profits

If you’re juggling business debt, focus on a plan to pay it off. That debt won’t disappear by itself, but once it’s gone, you can re-allocate those payments to give yourself a nice raise.

Map it out on a spreadsheet: Set a target date for becoming debt-free and visualize that financial freedom. Take responsibility for your financial results and don’t let past mistakes weigh you down. You didn’t know then what you know now, and that’s okay!

Remember, every business has startup costs, and not everything will bring immediate returns. Think of it like making a down payment on a house—it’s an investment in your business’s future.

Don’t Overcomplicate Things

It’s easy to overthink unfamiliar territory, especially when it comes to finances. You don’t need to understand every single detail, but you do need a grasp of the essentials.

Focus on the part that directly impacts your bottom line: making profit. Once you embrace this mindset, you’ll find that financial management becomes more enjoyable and less daunting.

Keep Your Eye on the Prize

Set clear financial goals and track your progress. If you want to pay off debt, give yourself a raise, or boost your profitability, start by visualizing the outcome. Create a plan, and don’t be afraid to adjust it along the way.

So, what’s the next step for your e-commerce business? Keep hustling, stay focused, and watch your profits soar. The struggle is real, but so are the opportunities. Don’t be afraid to dive into your numbers, make data-driven choices, and, most importantly, give yourself a raise when you deserve it!

Related Links:
Find Alison’s website here: www.easeliving.com

Pricing to Maximize Profit: https://thesocialsalesgirls.com/pricing-to-maximize-profit-episode-167/

The Secret To Getting Paid: https://thesocialsalesgirls.com/the-secret-to-getting-paid/

How To Have a Business That Pays You Well: https://thesocialsalesgirls.com/how-to-have-a-business-that-pays-you-well-episode-2/

Ditch Your Decision Fatigue: https://thesocialsalesgirls.com/ditch-your-decision-fatigue-im-giving-you-my-framework-its-brilliant-episode-186

New FREE Course

GROW YOUR SALES

(without breaking the bank)

Conversion School is a step by step process to grow your sales,
without spending a fortune on risky ad strategies, or discounting your products.

Works for Ecommerce stores at all stages.

Start getting consistent sales, and see significant sales growth every month.

New FREE Course

GROW YOUR SALES

(without breaking the bank)

Conversion School is a step by step process to grow your sales,
without spending a fortune on risky ad strategies, or discounting your products.

Works for Ecommerce stores at all stages.

Start getting consistent sales, and see significant sales growth every month.

or scroll down to get the highlights

The Customer Acquisition Game

Let’s cut through the jargon and dive straight into something crucial for your business: customer acquisition cost (or CAC.) Yes, it sounds funny, but it’s actually a pretty big deal. Let’s break it down.

The Basics of CAC

If you’re running your e-commerce store, or just starting out, you’re likely hustling hard to get those first sales. And you’re probably relying on organic efforts (like social media or word-of-mouth) to bring in customers. The good news? It doesn’t cost money! The bad news is, it does cost time. Potentially lots of it. And unless you’re a natural social media wiz…there might be a steep learning curve.

However, when you’re ready to kick things up a notch and scale your business, you’ll likely need to put some money into marketing, like ads. This is where the customer acquisition cost (CAC) comes into play.

CAC, in a nutshell: Ad Spend/New Customers
Imagine you spend $1,000 on ads this month, and you get 100 new customers. Your CAC is $10 (that’s $1,000 divided by 100 customers). This simple number is a game-changer.

Why CAC Matters

Why should you even care about CAC? Well, it’s like a reality check for your business. It reminds us that growth isn’t free. You might have been frustrated, wondering why your sales weren’t soaring. But now you know—it costs money to acquire each customer.

Knowing your CAC gives you power. You can compare it to different platforms like your website, Etsy, or Amazon. This helps you make informed decisions about where to focus your efforts.

Customers > Sales

Let’s shift gears a bit. Instead of solely chasing sales numbers, let’s talk customers. This is super important. Sure, you can sell more to your existing customers, but they likely won’t keep buying forever. Everyone has a limit. Eventually, you’ll need new customers to sustain growth.

Picture this: You’re looking at your sales numbers, and they’re good. You can boost them by selling more to your current customers, but deep down, you know you need fresh faces. That’s where focusing on customers, not just sales, comes into play.

Beware of Magical Thinking

Now, let’s talk about something that can sneak up on all of us—magical thinking. It’s when we set goals and create plans but forget about the nitty-gritty details.

You need to connect the dots between your goals and your CAC. Say you want to increase sales by $25,000. Awesome! But you can’t just wing it. You need a marketing budget that aligns with your goal. Don’t fall into the trap of thinking everything will magically fall into place.

How to Calculate Your Acquisition Cost

Ready to tackle your CAC? Let’s break it down in a few simple steps:

1. Start with a significant timeframe, like year-to-date. Take your total ad spend, including platforms like Google, Facebook, and Instagram.
2. Find out how many new customers you’ve gained in that timeframe. Divide your total ad spend by the number of new customers. Voilà! You’ve got your CAC.

Remember, this is just the beginning. To dive deeper into the nitty-gritty details and apply it to your business, grab our free downloadable workbook HERE [LINK TBD]

Putting It All Together

Now, it’s time to connect the dots. Let’s say your CAC is $14.69. That’s your starting point. If you want to boost sales by $25k, divide that by your average order value. This tells you how many orders you need.

But here’s the kicker: Not all of those orders should be from existing customers. You need new blood to keep growing. Adjust your marketing budget accordingly. In the end, you’ll have a clearer picture of what growth truly means for your business.

Figure out your cost of Acquiring with this workbook:

Related Links:

Want More Sales? You Might Be Missing These 3 Things: https://thesocialsalesgirls.com/want-more-sales-you-might-be-missing-these-3-things-episode-179/

The 10-Minute Checkup – A quick, 10-minute guide to understanding customer metrics and benchmarks: https://thesocialsalesgirls.com/a-10-minute-checkup-you-should-do-today-episode-157/

How to Have More Cash in Your Business: https://thesocialsalesgirls.com/how-to-have-more-cash-in-your-business-episode-164/

New FREE Course

GROW YOUR SALES

(without breaking the bank)

Conversion School is a step by step process to grow your sales,
without spending a fortune on risky ad strategies, or discounting your products.

Works for Ecommerce stores at all stages.

Start getting consistent sales, and see significant sales growth every month.

New FREE Course

GROW YOUR SALES

(without breaking the bank)

Conversion School is a step by step process to grow your sales,
without spending a fortune on risky ad strategies, or discounting your products.

Works for Ecommerce stores at all stages.

Start getting consistent sales, and see significant sales growth every month.

or scroll down to get the highlights

Simplify Decision-Making and Unlock Success in Your E-Commerce Business

Picture this: you’re facing a tough day in your e-commerce business, and the weight of numerous decisions is pressing down on you like a heavy burden. We’ve all been there. Maybe you’ve even thought, “I want to bash my head against the wall” in sheer frustration. Running an online product-based business can sometimes feel like an uphill battle. The daily grind of making crucial decisions can leave you feeling overwhelmed and exhausted. In this article, we’ll introduce you to a game-changing concept that will transform the way you make decisions in your e-commerce journey.

Meet Krista Williamson: Your E-Commerce Business Coach
The brain behind this brilliant solution is Krista Williamson, e-commerce business coach extraordinaire. Krista specializes in coaching store owners just like you, helping them navigate the often tricky waters of decision-making.

The Power of Decision-Making
Decision-making is such a crucial aspect of your e-commerce journey. As an e-commerce entrepreneur, you’re the captain of your ship. Every decision you make, whether big or small, has a ripple effect throughout your business. It affects your time, your finances, your operations—everything!

Now, think about a typical day in your business. Do you often find yourself overwhelmed, spinning your wheels, or procrastinating on important decisions? If the answer is yes, you’re not alone. Many entrepreneurs face these challenges, and it all boils down to…

The Hidden Culprit: Decision Debt
It’s not just the decisions you make; it’s also the decisions you don’t make that can lead to chaos in your business. Krista often refers to this phenomenon as “decision debt.” It’s like a stack of unpaid bills, only in the form of unresolved decisions, piling up in the corner of your mind.

These unresolved decisions can make you feel overwhelmed, exhausted, and even paralyzed. It’s that feeling of “spinning” or “stacking” decisions that leads to frustration and drains your energy.

Fear Factor
Let’s talk about why we often find ourselves in this predicament–FEAR. Fear of making the wrong decision, fear of not having enough information, and fear of the unknown can paralyze us. It’s that nagging feeling that we might mess things up if we make a choice. Maybe you don’t even know what you’re afraid of, or you’re telling yourself a story that you can’t make a decision about something.
You’re stuck in your perception of what the problem is, instead of really looking at the facts and backing it up with data. 

The Decision Filter: Your Path to Clarity and Confidence
If this sounds familiar, Krista has a brilliant tool in her arsenal—the Decision Filter. It’s a straightforward yet incredibly effective way to take control of your decision-making process and banish decision debt for good. Here’s how it works:

Step 1: Define the Outcome
– Grab a pen and paper.
– Ask yourself: “What is the outcome I’m looking for?”
– Write down the specific result you want to achieve. Be clear and concise.

Step 2: Align with Your Goals
– Next, ask yourself: “Does this decision align with my big-picture goals for the business?”
– Ensure that the choice you’re contemplating is in harmony with your long-term vision.

Step 3: Now or Later?
– Here’s where the magic happens. Write down: “Does this make sense for now, or is it something for later?”
– Give yourself permission to delay decisions that aren’t time-sensitive. Not everything needs an immediate solution.

Step 4: List the Benefits
– At the top of your template, list all the benefits you’ll gain from making this decision.
– Think about how it will bring clarity, focus, organization, and a potential for better outcomes.

Step 5: Evaluate Criteria for Success
– Before you dive in, identify the criteria that will determine your decision’s success.
– What will you measure, and how will you know if it’s working?

By following these simple steps, you’ll bring your decisions out of the chaotic mental whirlwind and onto paper, where you can see them clearly. It’s like flipping on a light switch in a dark room of confusion. Suddenly, you have the clarity and confidence you need to make informed choices.

Power Tool

What makes the Decision Filter so potent is its ability to demystify decision-making. It helps you see that there are no wrong decisions—only decisions with different outcomes. And guess what? You’re fully capable of handling whatever comes your way. It’s not the end of the world; it’s just another step in your entrepreneurial journey.

Common Challenges Solved with the Decision Filter

• Project Overload: If you’re overwhelmed by a multitude of projects, the Decision Filter can help you prioritize and decide which ones align with your goals.
• Time Management: If you struggle with managing your time effectively, this tool can guide you in choosing tasks that truly matter.
• Team Management: Making decisions about your team’s roles and responsibilities becomes clearer when you apply the filter to your choices.
• Financial Decisions: When it comes to spending resources or investing in your business, the Decision Filter will help you make informed choices.

Unlock Success with Krista’s Decision Filter

Now that you’ve discovered the power of the Decision Filter, you have a valuable tool at your disposal. Say goodbye to decision debt, overwhelm, and fear. Embrace clarity, confidence, and control over your e-commerce journey.

Whether you’re struggling with time management, team decisions, or any other challenge in your e-commerce business, remember this: you have the solution right at your fingertips. Just like Krista’s other clients, you too can transform your business by mastering the art of decision-making.

Don’t let fear and uncertainty hold you back. Take charge of your decisions, and success in your e-commerce business will be within reach. 

Ready to simplify decision-making and unlock success in your e-commerce business?

Start using the Decision Filter today, and watch your business thrive. Remember, your journey to success begins with a single, well-filtered decision.

Related Links:

Connect with Krista on Instagram: https://instagram.com/kristawilliamsoncoaching

Stop Spinning and Get More Done: https://thesocialsalesgirls.com/stop-spinning-and-get-more-done-episode-114/

The One Thing Even Smart Business Owners Get Wrong: https://thesocialsalesgirls.com/the-one-thing-even-smart-business-owners-continue-to-get-wrong-episode-174/

Slash Your To-Do List and Get Better Results: https://thesocialsalesgirls.com/slash-your-to-do-list-and-get-better-results-episode-168/

New FREE Course

GROW YOUR SALES

(without breaking the bank)

Conversion School is a step by step process to grow your sales,
without spending a fortune on risky ad strategies, or discounting your products.

Works for Ecommerce stores at all stages.

Start getting consistent sales, and see significant sales growth every month.

New FREE Course

GROW YOUR SALES

(without breaking the bank)

Conversion School is a step by step process to grow your sales,
without spending a fortune on risky ad strategies, or discounting your products.

Works for Ecommerce stores at all stages.

Start getting consistent sales, and see significant sales growth every month.

or scroll down to get the highlights

Unlocking Your Business Potential: Rethinking ROI for E-commerce Success

If you’ve ever felt like your business is a rollercoaster of expenses, frustration, and unmet potential, you’re not alone. But what if I told you there’s a way to flip the script, maximize your returns, and finally see the results you’ve been longing for?

In this podcast episode, we’re diving deep into the world of ROI (Return on Investment). 

The ROI Conundrum

We’ve all been there – you’re investing time, money, and energy into your e-commerce venture, but the results you expect just don’t seem to materialize. It’s frustrating, right? It’s like you’re stuck in a loop, always busy but never quite satisfied with your business’s performance.

But my guest Ciara Stokeland (a seasoned entrepreneur with a wealth of experience in the e-commerce world) is changing the game with a fresh perspective on ROI that can transform your business.

ROI ≠ ROAS

Traditionally, when we think about ROI, it’s often tied to advertising spend. You invest X dollars in marketing, and you expect a return in the form of increased sales. While this is a crucial aspect, Ciara brings something more holistic to the table.

She suggests we broaden our perspective and apply ROI thinking to every aspect of our business, not just marketing. Here’s the key: everything you invest in, whether it’s money, time, or effort, should yield a return. It might be a monetary return or a time return, but every investment should have a purpose.

The 2-Step Process

Ciara shares two essential filters to apply when considering any business expense:

1. Budget Check: Start by looking at your budget. Understand the raw cost of the investment and its impact on your net profit. Are you comfortable with the potential effect on your bottom line?

2. ROI Expectation: Once you’ve assessed the budget impact, shift your focus to what you expect in return. What tangible results do you anticipate? Will this investment save you time, increase sales, or improve your business in some other way?

ROI in Real Life

Let’s break down this concept with a couple of real-life examples:

• Attending Trade Shows

Imagine you plan to attend a trade show, a common expense for product-based businesses. Before committing, calculate the costs – travel, accommodation, and time away from your business. Then, set clear ROI expectations. Will this trade show result in new products, new contracts, or significant sales growth? Approach it strategically to ensure a positive return.

• Adding New Product Lines

Many entrepreneurs get tempted to diversify their product offerings without considering ROI. Before introducing a new product line, analyze the potential impact on your net profit. Then, ask yourself: What return do you expect? Will it lead to more sales, save time, or fulfill a market demand? Specific ROI expectations will guide your decision.

Remember: Resources Are More Than Money

In our quest for e-commerce success, we must recognize that resources extend beyond just money. Time, effort, and attention are equally valuable. Consider the impact of each investment on these resources and set realistic ROI expectations. This shift in mindset can make a world of difference in your business journey.

The Life-Changing Magic of ROI Thinking

Ciara’s insights remind us that e-commerce success isn’t solely about hustle and hard work; it’s about making strategic choices. By applying ROI thinking to every aspect of your business, you can optimize your investments, streamline your operations, and ultimately achieve the growth and profitability you know your business is capable of.

So, before you swipe that credit card or commit to a new project/course/strategy, take a moment to reflect on ROI. It’s the key to unlocking your business’s full potential and ensuring that every resource you invest – whether money, time, or effort – works tirelessly to bring you closer to your e-commerce goals.

If you’d like to connect with Ciara and explore her expertise further, visit her website at https://www.Ciarastokeland.com/

Related links:

How To Get Control of Your Money https://thesocialsalesgirls.com/how-to-get-control-of-your-episode-158/

A Profit First Expert Shares How To Manage Inventory https://thesocialsalesgirls.com/a-profit-first-expert-shares-how-to-manage-inventory-episode-82/

Grow Up Your Business and Get More Profit https://thesocialsalesgirls.com/grow-up-your-business-get-more-profit-episode-77/

New FREE Course

GROW YOUR SALES

(without breaking the bank)

Conversion School is a step by step process to grow your sales,
without spending a fortune on risky ad strategies, or discounting your products.

Works for Ecommerce stores at all stages.

Start getting consistent sales, and see significant sales growth every month.

New FREE Course

GROW YOUR SALES

(without breaking the bank)

Conversion School is a step by step process to grow your sales,
without spending a fortune on risky ad strategies, or discounting your products.

Works for Ecommerce stores at all stages.

Start getting consistent sales, and see significant sales growth every month.

or scroll down to get the highlights

When I started our Podcast, the Ecommerce Roadmap, three years ago. I had no idea what I was doing, or if anyone would listen. At the time, I was listening to podcasts myself, and I loved the episodes that left me with something that I could take action on. Even if it was one small thing.

I started out knowing that I don’t have all the answers, but as a long time, and somewhat successful store owner, I could share what I was working on, and let everyone see what real results look like.

My goal was to leave listeners with something they could take action on every time they tune in.

Three years later, I still don’t have all the answers, and I still want to leave you with real strategies that you can implement.

I’m sharing this today because I want you to be clear on the one strategy that has had a huge impact on our Members’ success this year. I think it’s crucial for every store owner.

If you prefer to listen, you can hear about it here if not, read on.

A year ago, as a Team, we were preparing for a cookie-less internet by investing a little money on increasing our visibility and focusing on audience building. We created training that walked our members through the process and they learned how easy and affordable it is to build a huge audience of people who have seen their products and have awareness of their business.

Our members are actually able to see how many people have “eyeballs” on their products each month. They can measure and track their total audience size using their total monthly reach.

The training we created is called Ads Made Easy. It’s available for all Inner Circle Members, and if you’re not a member you can purchase it here for only $39.99.

It’s crucial for all store owners to have a big audience because it’s a pool of people you can retarget on Social Media easily, and with only a tiny ad spend.

When you do that, and you give this audience a call to action, here’s what happens:

• Your audience is 2x more likely (than a cold audience) to click a link and visit your website
• Your audience is 2x more likely (than a cold audience) to enter your giveaway
• Your audience is 2x more likely (than a cold audience) to watch your videos
• Your audience is 2x more likely (than a cold audience) to become a buyer

…and, it will cost you 20% – 50% less per click.

The results we get when we retarget our audience are consistently good, and taking the time to build an audience has had a great ROI.

If you haven’t built your audience yet, I would encourage you to not skip this step.

This year, we’ve created a tool that our Members use to get even more control over their results. Our Members build out a unique Sales Funnel for their stores. Their Sales Funnel is a visual representation of their customer’s journey from the awareness (eyeballs) stage all the way down to the bottom of their funnel to the “purchase” stage.

Our members can see how many people are in each stage of their Sales Funnel.
This allows them to see the big picture for their business at a glance.

When they implement this strategy, they understand why they’re not reaching sales goals, and they know how to course correct by filling up the weak spots in their Sales Funnel.

They can even make a plan for steady, sustainable sales growth, by adding more people to the top of their Sales Funnel, and nurturing them down the funnel until they become buyers.

A year later, our Members are getting results that have transformed how they approach growing their sales.

See a sample Sales Funnel graphic and learn more about building a sales funnel for your store when you listen to Epiosde #147.

Next week – come behind the scenes with me, and see what’s possible when you do this work every month. I’m talking with a long term member – Renee Harris, you’ll get a peek at insider info that most people never share.

Here’s what happened when Renee started using her Sales Funnel. You won’t want to miss this.

“At the end of Feb, our YTD was only up by 3% over the same period last year. Today YTD we’re at 28% over last year YTD and I expect Q4 to be amazing. I’m working to get that set up and ready. What’s crazy is that June and July of last year were HORRIBLE. I had to lay off VAs, stop my FB ads and quit expensive paid coaching outside TSSG. This June/July compared to last year’s June/July: up 83% (“J” months don’t HAVE to be bad!)”

New FREE Course

GROW YOUR SALES

(without breaking the bank)

Conversion School is a step by step process to grow your sales,
without spending a fortune on risky ad strategies, or discounting your products.

Works for Ecommerce stores at all stages.

Start getting consistent sales, and see significant sales growth every month.

New FREE Course

GROW YOUR SALES

(without breaking the bank)

Conversion School is a step by step process to grow your sales,
without spending a fortune on risky ad strategies, or discounting your products.

Works for Ecommerce stores at all stages.

Start getting consistent sales, and see significant sales growth every month.

or scroll down to get the highlights

The one thing even smart business owners continue to get wrong

A few weeks ago, I was in one of the small groups of clients I’m working with right now, and something happened that stopped me in my tracks. When it happened, I knew I had to share it, because it’s something that we all get wrong. And if nobody points it out, we do it over and over. It keeps us stuck. 

Hear it on the Podcast

First, here’s what happened:

And as part of the support for our Reliable Revenue program, I work on strategy with a small group of Reliable Revenue students. We work together for 6 weeks, and at the end, the students in this small group have created a Strategic Plan for their store. 

When we’re creating our plans, we use the same process and a Strategic Planning document that I’ve been using for years. It’s how I create my own strategic plan.
I’ve been creating my Strategic Plans this way for many years. It’s transformed the way I operate as a business owner, and as a result, my business has grown by leaps and bounds.

 I’ve developed good focus, and referring back to my Strategic Planning document is the reason for my focus and consistency. It keeps me on track, and I accomplish more.

The Strategic Planning process is effective because it requires you to focus on outcomes, and the document is the tool I use to stay on track.

This work is important for all store owners, but it’s even more critical for 6 and 7 figure store owners. I use this Strategic Planning process with the members of my Mastermind Accelerator group to make sure that they stay on track to reach their goals every year. If you’ve been looking for a place to learn and collaborate with others that are in a similar stage of business, you might want to join us. We accept new members twice a year. Get more information here: https://thesocialsalesgirls.com/mastermind-accelerator/

When I was working with this small group of motivated, and smart business owners, one at a time, I asked them to tell me about the “current status” of their business. 

One after another, they gave me a laundry list of all the things they’re doing. Things like; they have a brick and mortar shop, but they also sell on Etsy, and they also have an online store, and they sell on Amazon, and they do some in-person events.

And that led them to “who” is doing “what” and, who’s doing the social media and all the things they have to give the social media person, and it went on and on. Everyone was doing so many things.

One by one, these smart and motivated store owners used a laundry list of all the things they were doing to tell me the “current status” of their business. 

And then I asked this simple question:
What is your vision for the next 12 months? 

Guess what? It was more the same, a laundry list of all the things they wanted to do. 

Someone was adding a new product line. Somebody else wanted to rebrand, another wanted to start a second subscription, somebody wanted to start a festival in their town.

I forgot how that used to be. Sitting there listening to these people spill out all the things that they were doing and all the things that they wanted to do, a lightbulb went off, and I thought, oh my gosh, I remember doing this. 

Everything in their “future vision” was a list of more things to do. 

And that right there is exactly why we’re all exhausted and overwhelmed.

We set goals that are “more things to do” as our goals, thinking it’s going to get us somewhere.

We all do this, and it’s what keeps us stuck.

Because we’re not actually even clear on where we want to go. 

You can’t be strategic if you don’t have clarity. You have to have clarity first.

Start here to get clarity on the current status of your business
Answer these questions: 

1. What was your revenue for the past 12 months?
2. What did you pay yourself in the last 12 months? 
3. How many days and hours are you working each week?
4. Are your books up to date?
5. Is your business profitable?
6. What’s working well in your business? (make a list)
7. What’s not working well in your business? (make a list)

Write out your answers to each question. This is how you get clear on where you are right now.

When you have the answers to these questions, that’s the current status of your business. 

Start here to get clarity on your future vision

Evaluate  each of your answers to the current status questions, and ask yourself this question:
“If I woke up a year from today,  how would my answer to this question have changed? 

Write out your answers. This is your “future vision”.

Notice that your answers are not more things to do, they’re the outcomes you want most.

Create your Strategic Plan

Once you’re clear on your current status and your future vision, your next steps are:

• Prioritize your “future visions” in order of most important to least important.

• Assess the “gap” that exists between each “current status” and “future vision”.

• Make a list of projects that will “close the gap” between your current status and your future vision.

Your clarity on what you really want will make you go back, and look at that to-do list. 

You’ll assess it from a different perspective.

Look at your to-do list and ask yourself if the work you’re planning is going to get you to your “future vision”?  Is that work even aligned with your future vision?

If it is, that’s great, but if it’s not, then it’s a no. 

Give yourself permission to take it off your list and feel confident that you have a good reason.

If the work you’re doing is not aligned with your goals, why on earth are you doing it? 

When you have clarity, decision making becomes easier. You’ll experience less overwhelm and feel more confident that you are doing the work that will actually lead you to your goals.

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New FREE Course

GROW YOUR SALES

(without breaking the bank)

Conversion School is a step by step process to grow your sales,
without spending a fortune on risky ad strategies, or discounting your products.

Works for Ecommerce stores at all stages.

Start getting consistent sales, and see significant sales growth every month.