What’s working in your business and what isn’t?
I’m asking this question because I’m genuinely curious. I’m also seeing a lot of busy work that isn’t generating real results. Worse yet, I’m hearing stories from really smart and savvy people about how they’ve been duped in business. Perhaps you’ve been promised one thing and someone delivered another or maybe you didn’t receive what you expected at all? That’s NOT OK in my book. In fact, when it comes to ROI (return on investment) not receiving what you agreed upon is not a fair exchange at all.
I know that’s the worse case scenario but it’s happening all too often. One way to avoid being disappointed or duped is to do your due diligence by checking references and speaking to satisfied customers.
One of the things I take great pride in is over-delivering.
I absolutely expect people to deliver on their promises and I’m sure you do, too. When they don’t it hurts. It hurts your bottom line, your business relationship and their reputation. It’s important to me to make sure my preferred clients get a solid return on investment (and that goes beyond “getting what you pay for”).
Here’s a super simple formula to determine ROI (return on investment):
Benefits of Investment – Cost = ROI.
1) List the benefits of a recent investment (time saved, money earned, goals achieved) and assign a value to the outcome or list the actual money made from a specific project.
2) List the cost of the project (what did you pay a person or company to do for you?)
3) Now subtract the cost (what you paid) from the Investment/Benefits (total results produced)
Use this formula to estimate ROI on a recent project (Seriously, just take a few minutes to do this).
Okay, so this formula isn’t an exact science and I’m not a mathematician but I do know this… this will give you a good idea of how to gauge ROI.
What did you discover? (I want to know, so, please share in the comments below so we can celebrate your successes or maybe chat about ways to improve them).
Here’s what I know. My clients are getting some really incredible ROI. Recently one of my preferred clients followed my advice to add a VIP day to their offerings and in one sale they more than tripled the cost of doing business with me. YAY! I’m still doing a happy dance for them. We partnered on a web copy and strategy package and the consulting/coaching included is what gave them such a great return on investment.
A couple of weeks ago a new testimonial landed in my inbox and it made me cry (tears of joy, of course). One of my preferred clients shared her success with me.
She reported that after she invested in my Content Strategy Plan process and we collaborated on her BIG vision, mapped out ways to reverse engineer her most powerful solutions into even more profitable revenue streams, her business is a million dollar business.
I cannot even fathom the ROI on that investment but I do know that the benefits far outweigh the initial cost (investment) of doing business with me.
I cannot guarantee you’ll get the same results AND I can guarantee when we work together, my focus is on your BIG vision. I will serve as your critical thinking partner and together we’ll map out ways you can achieve your goals no matter how BIG they are.
So, think about what’s working in your business and think about what isn’t working and make a plan to partner with the right people to help make your dreams become reality.
Tell me about the greatest ROI you’ve ever achieved in the comments below?