Juan Ortega explains business coaching, why it works, and why your company should consider it.
One of the things that we've all learned through different research and studies that have been done is that 80% of the chance of us getting our next customer is going to be from a customer that we've already met or serviced at one point. Only 20% of those next sales are coming from people we've never met. Of that 20%, almost 90% of that is coming from referrals, so it might have been someone that I've never met, but it's coming through somebody that I've done business with. So, what I ask my business owners to do is, do a mini-research study in your business. If you find that 80% of your business is coming from your existing clients and referrals, then devote 80% of your resources and allocate the time and money to focus on it. So, it needs to be equivalent to the business that's coming in at the moment.
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Show host Bill Black helps business owners develop Succession & Exit plans. Learn more at www.Ersi.biz