Every year I ‘crunch the numbers’ to see where the money came from. I’ve been doing this for more than 10 years.
Want to know what single activity results in 80% of my new business?
Sure you do ….So where did clients come from?
It was pretty shocking to me the first time I figured this out. See what you think.
* 60% came from attending my events (training/speaking)
Almost two-thirds of my new business came from EVENTS ….
* 20% were referred. Often becoming “D” grade clients 🙁
On in five clients were referred … Not my favourite way to get business because it turns out that most of these “referrals” became “D GRADE” clients and cost me money.
Basically … Referrals SUCK!
OK, not really, but most people are crappy at referring clients for a host of reasons. Unless you do something so damn simple a 4 year old could describe it … I’d skip hanging your hopes on referrals!
* 20% came from reading my materials: email, blog, freebies etc
Stuff I wrote. This was encouraging for me.
80% of NEW BUSINESS came people who consumed my content or ‘experienced’ my content. Put another way, that’s people who attended my seminars or read my articles/blog/emails.
Where did I make money?
– 50% Services
– 30% Consulting
– 20% Events
* 40% Social Media “DFY” Service
This was me providing SMBs with social media management services. This is a real money maker [hint hint.]
* 30% Consulting & Direct “Helping”
This old but trust-worthy activity made one-third my annual income.
Personally I despise trading time for money … BUT it’s a sure-fire winner when you need cash in flash!
* 15% Group Training Seminars
One of my favourite activities: training.
* 10% Other writing (articles, emails etc)
Things I can do “in my sleep” … Practically. I’ve been writing almost as long as I’ve been talking – and that’s a LONG time 😉
* 5% Public Speaking
1/20th of my annual income comes from public speaking. Not bad considering I really DON’T focus on this. Come to think of it – I should.
There you have it.
The bulk of my clients come from ONE THING, and I typically make the bulk of my revenue from service packages … NOT TIME TRADING (although it’s good for a cash infusion when you’re tight on funds!)
I hope you found this information useful.