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#1 Reason Businesses Fail

 

Let’s talk about the number one reason why businesses fail.

 

If you have done the research before becoming an entrepreneur, you might know that 20% of small businesses fail in their first year and up to 50% of them fail by year five.

I’m going to tell you exactly why that happens and how to make sure it doesn’t happen to you.

My name is Ryann Dowdy and I am a sales coach. I help brand new entrepreneurs build a six figure foundation in their business by mastering their sales conversations and are mindsets. I am the host of Uncensored Sales TV, and I’m super excited that you’re here to have this conversation today.

I’m usually one who tries to be positive. I don’t love to talk about failure, but I think it’s super important because I think there is one big thing happening that why so many businesses make it never make it past that fifth year.

 

Impatience.

 

I think impatience kills more dreams than anything else ever will. Yeah, we get inpatient working for whatever it was we thought we would have when we started a business and we quit, and we give up.

Hopefully, you’re reading this thinking, that is not me. I am not giving up. And thank you. Thank you for not giving up on your dream. But I truly believe that impatience and expectations kill more dreams than sales and marketing problems ever will.

So many of us are out there looking for solution to our sales and marketing problems. And we’re not checking in on that patience and expectancy problem. So many of us expect that we should open the doors to our business and have immediate success. It should be easy to get clients.

It should be easy to be able to quit our full-time job and pursue our dreams. It should be easy to do these things. And we expect that. And when we don’t experience that immediately, we get impatient and we stop showing up consistently. We stop doing the money-making activities in our business every day. Then, we stop, and we start and we stop and we started, and we never hit that level of success that we want.

And then we quit, and we give up because we’re being impatient and because we’re not giving any one strategy enough time to really work. I think is why most businesses fail – because we don’t stick to the plan.

So, what is the plan and what plan should we be sticking to?

 

The number one, things that you need to have a successful business is to learn how to sell.

There are a lot of people that disagree with me on that. Many of you think that you should need marketing, branding, a logo, a mission statement and an offer that makes you a lot of money.

I am going to make your argument as a sales coach, that the most important thing that you need in your business is sales. You need to make money. You need to learn how to have a conversation with another person about your service and ask them for money.

Because once you learn how to sell everything else, my friends, can be outsourced. If you want it to, if you learn how to sell, you can outsource your marketing. If you learn how to sell, you can outsource fulfillment. If you learn how to sell it, you can outsource the other things in your business like the tech, the website, the funnels, the emails, all the other stuff that everybody tells you that you need.

If you learn how to sell human to human and solve problems, then you will have enough money to outsource the rest of those things. You will have a business that continues to persist despite challenging times. Because once you learn how to build relationships, solve problems, talk to strangers, generate leads and run productive sales conversations, you will never struggle to make money ever again.

Your business will never struggle to succeed because those are the fundamentals of money making. Those are the fundamentals of business, right?

What I see happen so much and why we’re talking about failure today, as we go out into the world, you’re networking, you’re talking to people, you’ve run a handful of sales calls and maybe you got no, or I can’t afford it. That’s not in my budget right now.

Maybe you can’t even get somebody on the phone with you to have a sales conversation.

And so you stop networking and you chase another bright, shiny object. Then that one doesn’t work as well as you thought that it should. So then you take a week or two off, and then you come back with a vengeance because you don’t quit. You’re not a quitter, you don’t fail. Then, you chase down another path of bright, shiny objects. That one doesn’t work either and you stop and you start and you stop and you start and you’re beating your head against a wall and you’re frustrated and you’re mad and you’re angry and you cannot figure out why this thing won’t work for you.

 

And my friend is your impatience.

 

And I can say this with a hundred percent certainty, because I was you, because I did this early on in my business building journey. I kept looking for the magic bullet, the secret sauce, the thing that was going to work for me, the thing that was going to make it easier.

 

And what I found is that that thing does not exist. Business is built in building relationships with other humans.

 

And we build relationships with other humans by going out there and talking to them. We can do that in all the different places. We are so lucky to live in a world where you can do this on Facebook. You can do it on Instagram. You can do it on LinkedIn. In a post COVID world, you can do this in person. You can do this at your kid’s birthday party. You can do this at church. You can do this at a networking event, go out, serve people, solve problems, be a problem solver, and the money will follow.

But the problem is, is we are trying to solve problems behind our computer screens without actually talking to people because we get impatient that it takes time to build relationships and build trust, and have people feel really comfortable giving us their money to solve their problem for them.

Everything takes time. It takes consistency. It takes patience. It takes learning, and trial and error, and getting it wrong, and falling on your face, and doing all sorts of other crazy, ridiculous things to get success.

I truly believe that there are no overnight successes in the world. I think if you went out there and interviewed any person in the world that you deemed successful, and you asked them to tell you their story, it wasn’t because they showed up and on day six became super successful and had all the keys and had all the information that they needed.

 

  • It takes time to build a business.
  • It takes time to build relationships.
  • It takes consistency for people to trust you and to be able to invest in you and your services.

 

The stopping and the starting of the inpatients is killing your dreams.

 

Ask yourself:
Am I struggling because what I’m doing is not working or am I struggling because I am impatient that it is not working as fast as I want it to?

I keep stopping and starting and stopping and starting and never building enough traction to have the results that I want, which is a business that makes money.

Take a step back, be patient. Stick with a plan – that is what will keep you from failing.


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How Do I Find Clients that Can Afford Me?

 

How do I find clients who can afford me?

 

This is the question I hear all of the time from brand new entrepreneurs, as they get started in their business building journey. We are going to break down ways you can find clients that have money to invest in you and your services.

 

If we have not met yet, my name is Ryann Dowdy. I am the host of Uncensored Sales TV, and a sales coach that helps brand new entrepreneurs build a six figure foundation in their business by mastering their sales mindset and sales conversations.

 

This is one of my favorite topics because what happens when you are brand new to business as you go out into the world and you start networking. You start talking to people and you meet a lot of people, but what winds up happening is you network with a lot of entrepreneurs that are also brand new in their journey, who unfortunately aren’t yet ready to make an investment in their business.

 

Usually people wind up frustrated, and they think that something is wrong with their pricing. They believe that is the reason that they’re having a hard time getting clients. But instead, I want you to kind of shift that mindset to – there are people out there that can afford your services and frankly are desperate for your services.

 

So, how do we find those people?

One way to find people who can afford your services is to not look for people who are looking for you. I talk about this a lot. Your person who has a thousand dollars a month to invest in social media management, isn’t likely asking for social media help in a free Facebook group. BUT – they are networking in that Facebook group. They are providing value. They’re the ones in the comments that are giving great advice. They’re the ones that are posting great content inside of groups and sharing their expertise with other people. They’re the ones getting super visible inside of their own social channels.

 

So, look for people who are providing value, who are showing up consistently, who are getting visible. You can make some assumptions about those types of people and start building relationships with them. That is a fantastic way to find more advanced entrepreneurs.

 

Another way is to look for leaders.

Look for the leader of the group. Look for somebody with a popular podcast, with a well watched YouTube channel, with a large following on Instagram, with a big following on LinkedIn, with a more mature business. Start looking for the leaders. Not necessarily the people participating in the groups, but people leading the groups. You can make some assumptions by their business based on how they show up in that group, and on the price of the services that they sell.

 

Someone who is selling a lower ticket program (there’s nothing wrong with that. I started my business with low ticket offers) maybe their business is not as far along as somebody who sells $10,000 coaching packages and is talking about signing three to five new clients every single month.

 

So again, this is similar to my first thought, but really looking for the leaders of those communities.

Look for people who seem to have larger audiences. I know that audience size does not always equate to revenue, but I can promise you that somebody with no audience is definitely not making any money in their business. So look for those people that are leaders.

 

Another great way to find clients that can afford you is in local networking in your local community.

There’s an entire community of offline business owners that have no idea that you exist as a virtual service provider and they have money to invest.

 

It could be anybody from your local chiropractor, your local dentist, to the insurance agent in your town. Any kind of office that needs some support that doesn’t warrant a full time employee, or even a part time employee, or they’re looking for something short term or temporary.

 

These are really, really great ways to get in because they don’t know you exist.

And once they find out that you do, they’ll be so excited to know that they can find the support that they need for their business. Getting involved in local networking groups is a fantastic way to find clients that have more money to spend.

 

The final way to find clients that have money to spend is to choose your clients.

In my 15 year corporate career, we chose our clients. We went out and prospected. We only called on the clients that we wanted to work with, and that we felt were a good fit for whatever it is we were selling.

 

Rather than waiting for whomever you come across, or waiting for someone to find you, go out and choose the type of client that you like to work with. We call this prospecting, and you can reach out to these people via email, via cold call, via LinkedIn, or via direct message. However you want to reach out.

 

It will be some cold outreach, but it’s a fantastic way to choose your clients. If you know that there’s a specific brand that you love, that you’ve been following, or a specific influencer that you just really like their story or something along those lines – reach out. It’s definitely a great way to control the lead generation in your business in your business. Choose clients, build relationships with those clients and reach out to those clients and offer your services. And of course, offer a ton of value! Cause we’re not cold pitching.

 

Another one is to look who was advertising on social media.

I know that people will tell you that advertising on social media is cheap, but it’s not. If it’s working, it’s not cheap. It is an investment. Those businesses, again, oftentimes are growing and scaling and taking on clients in large numbers. So, we can make some assumptions about what’s going on in their business model.

 

So pay attention to who’s showing up in your newsfeed, who’s advertising, even who is advertising in your local community. Who is buying radio ads?  Who are you getting local popup ads for as you navigate the web? These are really great places just to begin to make some assumptions about the investments these people are making in their business.

 

Quick Recap:

  • We are looking for people who are providing tons of great advice.
  • People who show up consistently.
  • People who are providing value
  • People that are actually leading the communities.
  • People in our offline communities.
  • People that are advertising.

And then of course, there’s the awesome opportunity of choosing your clients by going out prospecting and doing some outreach.


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4 Ways to Generate Leads for your Service Based Business

Let’s talk about four ways to generate leads in your service-based business.

 

Welcome to Uncensored Sales TV. My name is Ryann Dowdy, and I am super excited that you are here with us. Let’s talk lead generation. What does that mean? What does that look like? You have got to have people to sell to in order to get clients, and you’ve got to have people to sell to, but this is not a conversation about niche.

We’re not going to talk about “where do I find the exact right person at the exact right time and the exact right space in order for me to be able to serve them?”

No, I don’t actually believe you need a niche early on in your business. I think you’re better suited to get really clear on the problem that you solve for your ideal client. Go work with a lot of different clients and then determine your niche.

So how do we even start with lead generation?

 

#1:  In-person networking

I probably generated about $30,000 in my business just through in person networking. Generate leads by finding networking events that appeal to you that your ideal client might hang out at.

So, that could be anything from a local chamber of commerce. Maybe it’s a women’s networking event. Maybe it’s a mom group, it depends on the type of business that you have, but actually meet people in person.

It ups the know like, and trust factor. The ability to shake hands, build relationships, have a cup of coffee, is the fastest way to build relationships in a really, really great way. Depending on when you’re watching this, we might still be in a COVID world where unfortunately, in person networking isn’t happening as often as we would like. But the good news is that a lot of those organizations still meet virtually. So, don’t be afraid to look at those organizations and get involved. Check out their zoom meetings and things like that. Because as soon as we can get together in person, it’s a really great way to generate leads.

Oftentimes people who are members of networking organizations, they have large networks. Remember, for every ONE person that you meet can introduce you to more people. So in person networking is by far best way to generate leads, and is the fastest path to cash in your business.

 

#2: Leverage your warm market.

Who is your warm market? It’s people you already know. Remember, I said it before, we do business with people we know, like, and trust – who already knows you. Your warm market has a network of people that you could potentially serve.

So make sure everyone that you know, knows that you have a business, knows the problem that you solve, and knows the type of work that you are looking to do is super valuable. So, if you’re coming out of a corporate job, which previous professional contacts do you have that might be able to get you in front of a crowd of people? Maybe it’s a speaking engagement or a podcast guest.

But who already knows you? Who is willing to make those introductions and help you generate leads and connect you with those people? Those are always going to be your fastest path to cash because it’s in person, it’s building relationships and there’s nothing wrong with being an online entrepreneur. In-person relationships are just a lot easier and a lot faster to build.

 

#3: Facebook Groups

I love using Facebook groups as a networking option. For me, hanging out in Facebook groups of my ideal client has by far generated tens of, if not hundreds of, thousands of dollars in my business.

What does that look like? It looks like showing up as serving. Same as I would at an in-person networking event. When I go into a Facebook group, I want to meet as many people as possible. I want to build relationships. I want to be seen as a helpful person, as a useful person, as a person with good ideas.

I do that by just showing up to serve and connect and get involved in conversation.

Choose three to five Facebook groups where your ideal client hangs out. Don’t worry if you don’t know where your ideal client hangs out, just find groups that you enjoy hanging out in. Find people you have things in common with, people that you can connect with and you would want to have a cup of coffee or a glass of wine with. Pick those groups, hang out in those groups. It’s the fastest way to get into conversation. And it’s the best way to generate leads.

 

#4: Instagram

I’ve been fighting Instagram tooth and nail … call it generational. I don’t know. BUT – Instagram is such a connection friendly platform. That is literally what Facebook or Instagram wants you to do on their platform is connect with other people. They want you to spend time there.

So, what does that look like? How do we generate leads using Instagram?

 

Use Instagram stories: Show up in your stories, provide value, share ideas, be helpful and valuable and connect with your audience.

Utilize your Instagram feed: A great way to build trust and authority is by putting out simple content. Don’t spend a ton of time on it, but content that really allows you to educate, connect, and provide value to your audience.

Network on Instagram: Go through and interact with potential ideal clients. It is such an easy way to get into conversation. Comment on their stuff or reply to their stories. DM them and tell them how awesome you think that they are and that you love their brand.

 

Building relationships and starting conversations on Instagram is super easy. Instagram is a really awesome way to connect with people and very quickly generate leads.

So, there you have it four ways to generate leads.

 

#1 In-person networking.

Even if you’re doing it virtually right now is by far the fastest path to cash in your business.

 

#2: Leverage your warm market.

What contacts do you have that can get you in touch with potential clients?

 

#3: Facebook Groups.

Hanging out in Facebook groups of your ideal client, providing value, viewing it as a networking opportunity.

 

#4 Instagram.

Using all of the tools that Instagram gives you in stories and in the feed, and then most importantly, interacting with other people by commenting, liking, and messaging.

 

When you are brand new to business, my friends, you are not in a place yet in your business where people are reaching out to you often and consistently and saying, “Hey, how do I work with you?”

We actually have to go out into the world and build those relationships and make invitations to be part of our world. All four of the ways I just mentioned are fantastic ways to do that.


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3 Sales Call Mistakes to Avoid

Let’s talk about three sales mistakes that I see entrepreneurs make all the time in their business.

 

Welcome to Uncensored Sales TV. I am your host, Ryann Dowdy, and I’m a sales coach. I help brand new entrepreneurs build a six-figure foundation in their business by mastering their sales conversations and their mindset.

 

I talked to a lot of entrepreneurs, and there’s a lot of drama around sales. Which, you’re probably not surprised about. Maybe you experienced that yourself, but I see these three mistakes in sales conversations all of the time. I wanted to cover them with you today, just in case you’re making these mistakes.

 

Mistake #1: Talking too much.

Believe me. I’ve heard this my entire life. I am a talker. I am an extrovert by nature, and I get really excited and really passionate about the work that I do. I have a tendency to talk a lot. However, when you are in a sales conversation with a potential client, you should actually only be doing about 20% of the talking and your potential clients should be doing 80% of the talking.

This is not an opportunity for you to try to convince someone. This is not an opportunity for you to talk someone into something. This is an opportunity for you to learn. Are you a fit to work together? Does this person have a problem that you solve? Do you guys have chemistry from a personality standpoint? Is this someone that you would want to do business with? So, it’s super important in your sales calls, your discovery calls, your concept calls, whatever it is that you call them, to make sure that you are not talking too much and you’re letting the prospect do the talking.

 

#2: Letting the prospect lead the call.

Cause when you’re new to business, you’re probably a little bit nervous. You’re super excited to win the business. So, you have a tendency to let the prospect drive, you are a business owner. You are a business owner that solves problems for businesses, and you are the one running the call. You need to take control of the call. You’re not being interviewed for a job. You’re not being interviewed by someone else. You are the person who should be in control of the conversation.

I recommend jumping on that sales conversation and right in the beginning, set the expectation, and set an agenda.

“Hey, I’m super excited about our conversation today. Here’s what we’re going to cover.”

“Here’s my goal. And then here’s what we hope to accomplish. Does that work for you?”

Then, you’re already driving the call, and you can jump right in to asking really great questions and letting them do the talking.

 

#3: Leaving the conversation without a scheduled next step.

I saw this in my entire corporate career. I see it with my entrepreneurs all of the time. We have a tendency to say, “I’m going to follow up on Monday” or “I’m emailing over a proposal.”

What we have done is we have let go of our control of the process. We are no longer in control. The prospect is in control. They’re the one who you are waiting on to make a decision.

What I want you to do is take control of the situation. Always, always, always, always, always, always, always schedule a next step.

If you weren’t able to come to a conclusion as to whether or not you guys would be a fit to work together in that first call, maybe you’re scheduling a follow up step to get an answer. Maybe you’re scheduling a second meeting to go over your custom proposal. Maybe you’re scheduling a second meeting with an additional partner or somebody else who needs to be involved in the conversation. Maybe you got a yes.

Regardless, you never want to get off the phone with a potential client without that next meeting scheduled.

 

BONUS TIP

Please stop emailing out your proposals. I see this happen all the time with my virtual assistants, my freelancers, my bookkeepers, my digital marketers. They email over the proposal and wait and see.

I really like to walk clients through proposals because I want my proposal to be super customized. Also, I can’t overcome objections via email. If somebody gets my proposal and responds to the email saying it is too expensive, I can’t overcome that objection. I can’t talk them through. I can’t ask questions. I can’t better understand if we’re just communicating via email.

I always want to be able to handle those objections while I am in conversation with the potential client. I want to make sure that we’re on the same page.

Because the more I can confirm that I’m on the right track, the higher likelihood I get signing on that client.

 

Let’s Review: 3 sales mistakes that I see entrepreneurs make all the time in their business:

  1. Talking too much
  2. Letting the prospect drive
  3. Leaving the call without a scheduled next step

 


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