jerred

1. Track Engagement Religiously

Understanding and tracking customer engagement is your first line of defense to reduce churn. For every business, the metrics might differ, but the goal remains the same: catch the warning signs before a customer departs. In an online setting, this might mean monitoring login frequencies or interaction rates. In a physical storefront, it could be tracking visit regularity.

The key is to establish clear metrics for engagement and then monitor these indicators consistently. This allows you to gather data which can reveal patterns or predict when a customer might be at risk of leaving. Automating this tracking process can save time and provide real-time insights that are invaluable for quick action to reduce churn.

2. Proactively Engage with Solutions, Not Just Check-ins

The second strategy shifts from passive observation to active engagement. The typical “just checking in” messages are not only ineffective but can also be annoying to customers. Instead, focus on engaging customers by addressing their specific problems or needs.

For instance, if you run a physical therapy clinic and a client is dealing with knee pain, tailor your communications to ask about their progress with specific exercises or pain levels. This personalized approach shows customers that you are attentive and committed to solving their problems, not just keeping their business.

3. Utilize Exit Surveys to Learn and Improve

Finally, implementing exit surveys can provide crucial feedback when a customer decides to leave. These surveys should aim to uncover the real reasons behind their departure—be it confusion about a service, dissatisfaction with the product, or pricing issues.

This direct feedback is essential for identifying and fixing the weak points in your service or product offering. Each response should be treated as a valuable piece of data to refine your operations and reduce future churn.

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

Time-Stamped Show Notes

• [00:00:30] Introduction to churn and its impact on businesses
• [00:01:30] Detailed discussion on the importance of tracking customer engagement
• [00:03:00] Exploring effective customer engagement strategies beyond basic check-ins
• [00:04:00] The benefits of using exit surveys to gather actionable feedback
• [00:05:00] Summary of how these strategies integrate to reduce churn effectively
• [00:06:00] Closing thoughts on the long-term commitment needed to minimize churn

How to Maximize Your Earnings Online by Avoiding Overload and Boosting Productivity

In the whirlwind of entrepreneurial endeavors, it’s all too easy to find yourself buried under a mountain of tasks, wearing multiple hats, and ultimately, spreading yourself too thin. This not only impacts your personal life but can significantly hinder your business’s growth and your ability to make more money online. Today, I’m going to share insights on recognizing when you’re taking on too much and how to streamline your efforts to maximize efficiency, productivity, and profitability.

Recognizing the Signs of Overload and Its Impact on Productivity

As someone deeply entrenched in multiple businesses and personal commitments, I’ve felt the pressure of juggling too many responsibilities. Whether it’s handling finance, marketing, or leadership roles across different companies, the challenge is real. The key to understanding overload lies in setting a high standard of excellence in every area of operation.

I employ what I call the “Building Superman” exercise, where I define what the best version of myself would look like in various roles—be it as a father, a business owner, or any other capacity. This exercise involves jotting down a virtual job description for the ideal state of each role I am responsible for.

The Cost of Falling Short

Once you set these standards, it becomes clear how far short you may be falling in each area. For example, if the optimal marketing strategy involves setting up new campaigns monthly and rigorously analyzing ROI, but all you’re managing is the occasional Facebook ad, then there’s a significant gap. This gap, believe it or not, costs you money—money that could be utilized more effectively to boost both your productivity and profitability.

Hiring as an Investment

Realizing these gaps allows you to calculate the potential earnings lost by not optimizing each sector of your business. This calculation can then serve as your budget for hiring someone to take over certain aspects. Early-stage entrepreneurs often hesitate to make hires due to cost concerns, but the reality is, the cost is already there in the form of lost opportunities.

Streamlining Tasks with the 3-6 Method

To further enhance productivity, I implement what I call the “3-6 Method” in my weekly schedule. This involves committing to three major tasks (focus tasks) that will significantly push the business forward and six smaller tasks (buffer tasks) that manage the day-to-day operations. This method forces critical thinking about task prioritization and helps ensure that I’m not just busy, but productive.

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

Time-Stamped Show Notes

• [00:00:30] Introduction to identifying personal and professional overload
• [00:01:30] The importance of setting a high standard in all aspects of life and business
• [00:02:30] Exploring the “Building Superman” exercise for role optimization
• [00:04:00] How to identify gaps in performance and their impact on business growth
• [00:05:30] The rationale behind using hiring as a strategic investment to fill performance gaps
• [00:07:00] Explanation of the “3-6 Method” for task management
• [00:09:00] Summarizing the benefits of managing workload to accelerate business success

The Foundation of Financial Growth

First off, if you’re not seeing the growth you want in your bank account, there’s a good chance you’re not paying enough attention to your finances. It’s a simple truth that “what gets measured gets managed.” Setting up systems and checks for your financial health can radically change how you manage your money and help you grow your bank account.

Strategy 1: Weekly Finance Meetings

One of the most impactful habits I developed is holding a weekly finance meeting. This routine, inspired by the principles from the book Profit First, has been crucial for keeping my finances in check. During these meetings, I:

• Pay off credit cards weekly to stay on top of expenses.
• Transfer funds to appropriate accounts for taxes, savings, and investments.
• Get a real-time pulse of my financial health, making adjustments as needed.

This frequent review helps me address issues promptly, ensuring small problems don’t turn into big ones.

Strategy 2: Tracking Your Net Worth

Many people focus on monthly budgets or cash flow but overlook their net worth. Your net worth — the total of your assets minus your liabilities — gives a more comprehensive view of your financial health. By making decisions based on how they will affect your net worth, you shift from short-term gain to long-term wealth building. For instance, refinancing a mortgage might save you monthly, but what does it do to your overall debt and assets?

Strategy 3: Monitoring Personal Profit from Your Business

As entrepreneurs, it’s vital to distinguish between business profitability and personal income. Tracking what you actually pay yourself versus what is reinvested into the business can illuminate whether your business is truly serving your personal financial goals. This perspective helps guide decisions on reinvestment and ensures that your business profits are indeed improving your personal financial situation.

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

Time-Stamped Show Notes

• [00:00:30] Introduction to financial growth strategies.
• [00:01:30] Importance of paying attention to finances.
• [00:02:30] Benefits of a weekly finance meeting.
• [00:03:30] How tracking net worth can influence financial decisions.
• [00:04:30] The impact of monitoring personal profit from business activities.
• [00:05:30] Summary of key strategies to grow your bank account.

Simplifying Your Marketing Strategy: The Key to Promoting Your Online Business

As the host of the Better Human Business podcast and a seasoned entrepreneur, I’ve navigated the complex waters of marketing online businesses. Over the years, I’ve learned a crucial lesson: simplicity in marketing is not just beneficial—it’s essential. Today, I want to share a straightforward framework that transformed my approach to crafting effective marketing messages.

Embrace Simplicity in Your Marketing Efforts

We often fall into the trap of overcomplicating our marketing strategies, thinking complexity will bring better results. However, the reality is that simplicity resonates more powerfully with audiences. A clear, concise marketing message not only communicates effectively but also enhances customer engagement by making it easy for them to understand and act on your message.

The Who, What, Why, How Framework

One transformative approach I adopted is the “Who, What, Why, How” script, inspired by marketing guru Russell Brunson. This framework compels you to clarify the essentials of your marketing message:

1. Who: Identify yourself and establish credibility. Whether it’s through your name, title, or accomplishments like being listed on Inc 500, make it clear who you are and why people should listen.
2. What: Clearly state what you are offering. Is it a service, a product, a discount? Your audience needs to know exactly what you’re selling.
3. Why: Explain the benefits. What problem does your offering solve? Why is it the ideal solution for your audience? Articulating this connects your product or service directly to the needs of your potential customers.
4. How: This is often the most neglected part, yet it’s crucial. Tell your audience how they can purchase or engage with your product or service. Whether it’s clicking a link, filling out a form, or calling a number, make the action clear and simple.

The Power of Clarity

Utilizing this framework ensures that every piece of marketing content you produce is streamlined and effective. Whether it’s an email, a podcast episode, or a social media post, applying these four components can significantly enhance the clarity and impact of your marketing efforts.

Implementing the Framework

Implementing this approach doesn’t require complex tools or systems. A basic understanding of your audience and a commitment to clarity in your messaging will suffice. Regularly applying the Who, What, Why, How framework helps maintain focus and relevance, ensuring that your marketing efforts are direct and effective.

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

Time-Stamped Show Notes

• [00:00:30] Introduction to simplifying marketing strategies
• [00:01:30] The importance of not over-complicating marketing
• [00:02:30] Introduction of the Who, What, Why, How framework
• [00:03:30] Detailed explanation of the framework
• [00:04:30] How to establish credibility (Who)
• [00:05:30] Clarifying your offering (What)
• [00:06:30] Explaining the benefits (Why)
• [00:07:30] Importance of explaining how to engage or purchase (How)
• [00:08:30] Recap and encouragement to apply the framework across all marketing channels