Episode 427: 4 Business Systems That Took Me From 60-Hour Weeks to £2M+ (Step-by-Step)

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What can a business owner do to free up day-to-day management and boost revenue? Adam Stott reveals four crucial business systems that can help you do just this.

In this episode, Adam Stott unveils the four critical systems every business needs to thrive. By effectively setting up these systems, business owners can free themselves from daily operational tasks, heighten their income, and reclaim their personal time, leading to both professional and personal growth.

Adam shares actionable insights on structuring these systems, offering listeners a road map to streamlined business operations.

Show Highlights:

• Implementing a lead generation system, particularly through paid media, enables businesses to scale their customer base effectively.
• A streamlined sales process system is essential for converting leads into customers, requiring strategic communication and qualification steps.
• An operational system, supported by a CRM, enhances customer management, delivery scheduling, and nurtures ongoing business relationships.
• Finance systems are crucial for tracking monetary transactions, understanding financial metrics, and ensuring business profitability.
• Combining these four systems creates a robust framework for business growth, while minimizing operational burdens on the owner.

Links Mentioned:

Get your Business Growth Secrets SUCCESS PLANNER for FREE and profit like a pro: https://adamstottplanner.com/free-book47315172

Adam’s website: https://adamstott.com/?el=Pod

Watch the Episode on Adam’s YouTube Channel: https://www.youtube.com/adamstottcoach?el=Pod

Connect with Adam on Instagram: https://www.instagram.com/adamstottcoach/?el=Pod

Join Adam’s network on LinkedIn: https://www.linkedin.com/in/adam-stott-coach/?el=Pod

Coaches, consultants, and business owners – lower your marketing costs, increase ticket prices, and get more high-ticket clients: https://3daybrandbuilderworkshop.com/start-here?el=Pod

Transcript:

Please note this is a verbatim transcription from the original audio and therefore may include some minor grammatical errors.

Adam Stott: What if I told you that there were just four areas of a business that you need to set up systems in order to free yourself of the day to day, start to generate more income, see your incomes go up. and get you your time back in your life. Well I’m sure that you would be pretty interested to learn and discover more about those systems and we’re going to walk through all four of them and the first one is that lead generation system.

[00:00:39] Imagine for a moment you could literally turn a tap on and it would bring leads and inquiries into your business and then if you got too busy all you simply had to do was turn the tap down and have less coming in. What would that give you and what would it enable you to do? Well, let me tell you, if you did have that tap in your business, if you wanted to drive more revenue, you wanted to drive more cash into the business, you simply turn the tap on and get more leads coming into the business.

[00:01:05] And all of a sudden you grow. What we want to look at in terms of a sustainable, consistently generation system is using paid leads. Paid media is where you are going to invest in the purchase of eyeballs. You are going to buy people’s eyes looking at your offers and we can do that in a number of ways.

[00:01:23] We can do that one with Meta ads, which are ads that are going to go out on Facebook and Instagram. And we’re going to run those ads to our target market and clients to make an inquiry with us to generate revenue. Now, the important metrics and things to understand about testing meta ads is how much, if I have a customer there, they’re standing there, and I can deliver them to you, like literally deliver them to you, they will come to you with a credit card in hand, they’ll buy your product or service, you can have them right now.

[00:01:52] How much would you pay me to give you that person? That’s the question you’ve got to answer. Let’s say you sell a product that is 5, 000 pounds or 3, 000 pounds, a thousand pounds, whatever it is, then you can go, well, look, I sell a product for a thousand pounds. If you were to give me a customer, I’ll give you 250 pounds for that.

[00:02:10] Because I still make 7. 50, it will still be profitable, minus some costs and stuff. Your Cost Per Acquisition, your CPA, and your Target Cost Per Acquisition, tells you the amount of budget you’ve got to go and buy clients. Now the absolute winning game, is having a lead generation system where we can go and buy leads in our lead generation system, which is our first system, and then put them into our sales process system, which is system number two, which then generates us that cost per acquisition, which is the cost per sale.

[00:02:42] So you want to make sure it’s consistent. Turn tap on, turn tap off. Make sure That you can generate enough leads for you to be able to grow your business consistently and be able to control the flow of new inquiries into your business. Once you’ve done this, the possibilities just become huge for you and your business.

[00:03:00] Why do they become huge? So you now can hire somebody to convert those leads for you. Call those leads for you, dialogue with those leads for you, chat with those leads with you and convert. So what have you done now? You’ve able to step out of the business and have the business generating leads and start converting them.

[00:03:17] This is going to allow you to grow consistently. Hey everyone. Hope you’re enjoying the podcast. We’ve got a free training that I’m doing right now online from the comfort of your own home called stand out brand. What this does is it shows business owners how to get noticed on social media, stand out.

[00:03:34] Get more leads and get more sales. So if you want to make more money in your business, head over to adamstop. com forward slash SOB that’s adamstop. com forward slash SOB and join us on the free three day workshop, stand out brand. So the next system you need is you need a sales process system. This is very, very important.

[00:03:59] And if you don’t have a sales process system, you don’t have a way to turn leads into paying clients. Your business is gonna struggle. Step one of system two, is you bring someone into a mechanism where they spend more time with you or more time with your team, phone call, zoom call, consult call, mood call, webinar, event, whatever it might be.

[00:04:23] Now you’ve got more time with that person. You can start your sales process system. The sales process system should include you really pre framing and controlling the conversation where you get to know somebody and you spend time with them and you’re very clear about your intentions and your intentions will be look, really love the fact that you’ve made the inquiry to us.

[00:04:45] I’m going to ask you some questions. I want to really get to know you. Want to get to know where you’re at and how. We can help you potentially moving forward in the future. If we feel that we can work together and do some great things together, then there are some options where we can talk to you further about you becoming a client of ours.

[00:05:02] And provided we got really well, we’ll walk through that process with you. So you controlled the conversation. You’ve let them know that there is an offer and you let them know that you can ask lots of questions, which brings you into the next step, which is qualification. You want to make sure that you’re really qualified and get to understand what problems your clients got, what needs they have, where you can help them, what it is they need help with.

[00:05:27] Once you’ve qualified, you can then go and present. Your solutions, then you can go into the financials and from the financials, you can then move into the closing of the business in order to close that sale now. Right? So these are the simple sales process system to move clients from lead to To sale. So when you generate your lead, you have to be asking yourself the nurture system for your sales process.

[00:05:54] Have we got automated emails, communicating with them, telling the next steps? Have we got automated text messages that we’re texting them, nurturing them, getting them to show up to their webinar, their meeting, their event where they’re spending more time with us? Have we got a team, a team potentially that’s calling them up and making sure that they’re going to come on and have a further conversation with us?

[00:06:15] And have you got a follow up system for after the call where they’re in your sales process? So that means you’ve got your lead generation system in place to bring new people into your world. You’ve got your sales process system in place to nurture, sell, and grow. And follow up new leads that come into the business.

[00:06:35] We now have got to deliver the product or service that we’ve sold. So lead sale deliver, and we call this an operational system. You want to set up operational systems within your business. So you should be looking at having a CRM system in your business. Now that stands for customer. Relationship management, and we want to manage the relationship of a customer coming into our world.

[00:07:00] And there’s a few things to consider here. First and foremost, the automations that we just talked about in the sales process, and the automations in nurturing, the automations in following up, like the emails, the text messages, these can all be done in a CRM system. The other things we really want to focus on on the operations is Making sure that we deliver the product or service.

[00:07:19] We make sure that their calls are scheduled. Any type of delivery is scheduled and everything is organized. We want a seamless process of generate lead, sell lead, deliver products in a lovely way. And the right CRM system will do all of that for you as well as manage the review system as well to make sure that we get good reviews from our clients and we look after them.

[00:07:40] There are all different types of business owners out there and Things that business owners are good at. You have some business owners that are amazing at sales. So they love selling, they love offering their products and services and they’re amazing at sales. Often they’re not the most organized people in the world.

[00:07:56] And that’s why it’s super important. If you’re really good at sales. That we have a good operational system to back that up. So we highly recommend that you use a CRM system within the business to track your inquiries and make sure that you track the delivery of your products or service. What’s also really important.

[00:08:15] A good CRM system will include project management. So when you generate a lead and sell a product, you now have to deliver that product. Often there are different elements of the delivery of the product that need to take place. So for example, say your recruitment business, just as a, as a random example, you get the employer says, yes, I want to recruit this person.

[00:08:34] That’s part one of the project. What you’ve got to do now is part two of the project. You’ve got to go and figure out. Find the right candidates. You’ve got to get all those candidates in place. You’ve got to then go and interview those candidates. You’ve got to screen those candidates before you present the candidates to the business owner.

[00:08:49] Once you’ve presented those candidates, that’s going to narrow it down and you end up with one candidate that’s probably one, two or three that gets to final interview stages. One of them gets a job. But what you’ve got there is a whole project. Based off of one role. And the reason that you want systems and you want to have a system is for your business.

[00:09:04] You should have that all in one place. Cause what you don’t want is just mountains of paperwork and files and different stuff. Not in today’s world. You don’t want that. You want a really solid operational system that delivers your products or service. And when we’ve got these three systems together, lead sales operations, you can seamlessly start to generate more inquiries, create more sales.

[00:09:26] and deliver the product or service to your new customers with minimal fuss. And the fourth system is you need a finance system within your business. You need to make sure that you are fundamentally knowing your numbers, looking after your finances. This completes the quartet of systems, leads, sales, Operations and finance and the beautiful thing here is that your finance system can link to your operational system And your operational system can link to your sales system to your lead gen system So all in one place you’ve got the different elements running together And you’re literally running your business in one place.

[00:10:07] So what is the finance systems that you should be looking at? Well, you’ve got finance systems such as Xero and QuickBooks and these types of systems where you want to be making sure that all of your transactions go on there. You want to be making sure that That you’re staying up to date with who owes you money.

[00:10:22] What are you collecting from your sales? Cause you don’t want to be selling loads and then missing out on collecting the money. You want to make sure that you’re up to date with your numbers. So you’ve got monthly profit and losses where you can see, Hey, every single month, how are we tracking how the sales going and really understanding the financial performance of your business.

[00:10:41] So this is how putting the systems in place. can really transform your results. Now, finally, if you’re a business owner that wants to grow, you’ll want to scale. You want to understand how to do that in a very safe way. There is a link in the description, which talks to you about our gold circle mastermind, a gold circle coaching program.

[00:11:02] It’s an incredible resource for taking business owners just like you from wherever they are now to really driving and growing their business to incredible results. And if you liked this video, check us out. Give us a big thumbs up, give it a like, and make sure to subscribe to see more. See you very soon.

[00:11:18] Thanks again.