Day two of the Acquisition.com/Alex Hormozi event was just as awesome as day one! If you didn’t read my recap of the first day…check it out here. On day two, we broke out into small groups and had each of the department heads for Acquisition.com cycle around and answer our specific questions about our own businesses.
That was really helpful. It gave us perspectives on recruiting, retention, marketing, sales, and operations from a 50 thousand foot view.
I also met a ton of great business owners. There was a wide range of business sizes and business types. Most of us were in the service industry, but there were some that sold products as well. I talked to business owners who were at the $1 million level per year, up to those bringing in $30 million plus a year. It’s fascinating to see how well some people can do when they master a few basic business concepts.
The biggest levers I saw from those business owners I spoke to were:
1. Lead generation
2. Lead conversion
They had mastered the art of generating leads. Lots and lots of leads. Mostly from paid ads, but also from organic and referral partners.
After they figured out the lead generation game, the next most crucial aspect was lead conversion. Those who are succeeding at a really high level have a very dialed in and optimized lead conversion process. I inquired about some of their specific numbers, and those at the low end were only converting 20%-30% of their leads into clients. The more profitable companies were in the 50%-60% range.
A big part of lead conversion was the skillset and scripting process of their sales teams. Funny…that’s what we do. Of course I was naturally most interested in how these companies sell what they sell. How their sales process is designed and executed.
The thing I’ve noticed with most companies is that you have to have a really good script and really good training. But, the companies that do the best have sales people who can also operate off-script. That’s where the real money is made.
I told you I was revamping our lead conversion bootcamp training. The core premise is teaching agents the principles of sales conversations, so they can expertly work any kind of lead source and any level of readiness, from hot and ready, all the way down to ice cold. That set of skills will feed you for a lifetime.
I’ve even introduced a fancy new workbook for you to fill out with your own scripting and messaging, based on our principles.
Smart Offer: I’m getting amazing feedback on the new bootcamp format. The concepts of sales conversations that we are teaching are game changers for our students. If you want to know more about it. Grab a time on my schedule here: https://calendly.com/sis-sales/bootcamp-solo
-Dale