We are constantly getting upgrade reminders from our phones and computers to upgrade to the latest version of the software so they work better. Have you gotten your upgrade notice for your business?
Are you working harder and harder but still finding it difficult to continue to grow your business? Maybe it’s time for an upgrade.
Years ago I heard a very successful life insurance professional describe why at age 40, after 18 years in the business, he was handing it off to someone else. He said “It no longer made sense for a 40 year old to run a business that a 22 year old built.” He needed to upgrade in order to grow to the level he wanted to reach his personal goals.
Do you need an upgrade, only you can answer that question. It might be time to upgrade if:
- You are you continuing to call on prospects that look like the bottom 20% of your current customers.
- You are using the excuse that you can’t make enough time for prospecting because you have too many “small” accounts to service.
- Your business is flat or declining because you are not adding enough new customers.
How do you get started?
- Build a success formula with the right metrics and hold yourself accountable.
- Create a profile for new customers that generate the amount of revenue you want.
- Share your profile with everyone who might know where these customers are and be willing to introduce you to them.
- Add 1, drop 1. Each time you add a new client; drop one from the bottom 20%.
How will you know when your upgrading efforts are beginning to work?
- You stop using a mirror to qualify your prospects.
- You have fewer but larger opportunities in your pipeline.
- You are telling more prospects no.
- Revenue is up and number of accounts are down
- You are accomplishing your personal goals.
When should you upgrade? Whenever the people you are calling on cannot help you reach the goals you have set for yourself. That’s when.
