Did you know there are 3 key ways to increase how much revenue you close?
#1 Increase your activity
This is the obvious one that most leaders pound on.
Yes, technically if you increase the number of meetings you book, you will close more.
BUT it's not the highest leverage as more activity eventually leads to burnout.
Let's move onto number 2, which requires more skill.
#2 Increase your win-rate.
Let's say you average:
20 new disco's per month
20% win-rate
$50,000 average deal size
That means you'll close $200,000 on average.
Now if you want to increase that, let's start with Option #1: Increase Your Activity.
Let's say you get to 30 new disco's and keep everything else the same.
Then you'll close $300,000.
Not bad.
What if you did #2: Increase Your Win-Rate, instead?
What if you had kept everything the same and increased your skills so you close at 35%?
Now you've closed $350,000 while only doing 20 Discos - AKA less work!
Then we have another great option...
#3 Increase Your Average Deal Size
So what if now you kept everything else the same at a 20% close rate but we focus on deals that are $100,000?
Now you're closing $400,000 instead.
Now between all 3, which one are you going to earn the most with? 🤑
(Obviously #3)
This is the power of focusing on the high leverage of big deals.
But here's the thing:
Charging premium prices or going after larger deals takes skill.
You need to be able to run a tight sales process and be a strong negotiator on the backend.
The better you are at this, the better you'll actually improve your skills for both 2 and 3.
Which is a powerful combo.
I recently chatted with my buddy Dan Deigan on this.
We discussed how to charge more, how to handle objections so you can get the price and deal size you want, and so much more.
It's a 26-minute masterclass on selling premium deals.
You can check it out here.
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