Join Jay on this critical episode as he discusses the number one reason businesses fail. The difference between your company going out of business and being a seven-figure business is the list. Go to www.BEBMillionDollarList.com for a free list-building checklist.
Many entrepreneurs are solely focused on the product or service that they sell, and they totally ignore the number one reason businesses fail. They do not understand the importance of building and nurturing a database. The success of your business is really a function of the numbers. If you make an offer that is aligned to your database (list), you will make a certain percentage of sales; of course, this percentage will vary based on the offer. If you make the same offer to a list of 126 people versus a list of 3,000 people, the percentages will still hold true. If your conversion rate is 4%, that means if you have a list of 126 people, only 5 people will buy your offer. If you have a list of 3,000 people, that means that 120 people will buy your offer. That’s the difference between going out of business and building a multimillion-dollar business. Go to www.BEBMillionDollarList.com for a free list-building checklist.