The Most Dangerous Number for Freelancers
This week we've been discussing the top five lessons I learned from master copywriter Dan Kennedy. So far we’ve covered:
- Why you must market your business every day
- How to create an abundance of clients
- What to do to build a consistent six-figure income
- How to turn one client into ten
And now for this week’s final lesson …
My son, Dalton Cyr, is an up and coming singer/songwriter and fast becoming a local celebrity. He's also growing in popularity across the United States and around the world. Tremendous opportunities are really starting to come his way.
People always ask me, how did this happen?
The answer is the same one I tell any business owner selling any service or product. Follow this lesson and you'll attract better opportunities continually and be able to name your price.
So how do you do it? The truth is it’s not just one thing that makes you successful, it’s doing a variety of things.
In Dan Kennedy’s book, No B.S. Success in the New Economy, he says, “One is a very bad number, anywhere you find it … if one media produces a disproportionate percentage of your customers, you are subject to being summarily put out of business.”
Same if you have too much of your income coming from one client. Or if you have one lead source that regularly attracts all your business. If something happens to either, you’ve lost your main source of income.
Another reason why you need variety is that regulations and industry shifts can have dramatic and immediate impact on your business. For example, last spring Google made changes that caused some small businesses to scramble because the majority of their business and income came from Google searches. Their visibility online (and sales) plummeted overnight.
The solution is to set yourself up for success by creating a “feeder system” like we discussed on Tuesday, with a variety of methods to generate leads:
- Create a direct mail campaign to drive traffic to your website.
- Make a free report that prospects opt-in for via your website to capture prospects’ names.
- Send a monthly newsletter to build relationships, gain trust and sell your services.
- Attend networking functions and speak at events in your niche to establish credibility and attract leads.
- Use social media to build relationships, drive traffic to your free report, newsletter sign up, and speaking events.
Relieve stress and protect your business by building up multiple clients on your roster and not relying too heavily on one client for your income. And put your business on autopilot using a variety of information products in your “feeder system.” When you do, you’ll earn your desired income and no longer fear turning away a client that is a poor fit for your business.
By the way, Dalton has added variety by regularly sending out newsletters, creating and posting videos, using social media, promoting events with advertising, and sending out press releases to the media … Ideas any business can use.
How will you add variety to your business? Post your comments here.
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