Q&A Friday: Building A Great Email or Newsletter List
May 22, 2009Examples of Needle Movers – Part Two
May 24, 2009Examples of Needle Movers – Part One
Okay, I’ve had a lot of feedback over the last two days about my Needle Mover Blogs. This is an area I’ll cover EXTENSIVELY at my Results Now Summit in June, but I want to offer enough examples to drive the topic home right now. In these four examples, I’ll provide the TARGET, MINIMUM, and MIND BLOWER for some, but not all, examples. Generally, you will want to have annual needle movers — and monthly and quarterly to help you reach those goals.
Example 1: George had a dreadful experience with his last business. He didn’t use needle movers to build his business and didn’t have a mentor, so he made a series of costly mistakes. When he came to me he had lost over $100,000 on his last business. He was ready start a new business, a media services company.
He is mired in bookkeeping and admin work (not his key skill set), needs sales leads, and wants $120k in revenue in the next 12 months, and to get to $500k in revenue as soon as possible thereafter. He wants 7 digits in sales within 5 years. His annual needle movers are:
1. Reach $120k in revenue (Target = $120k, Min = $90k, Mind Blower = $250k)
2. Spend 80% of time on his core expertise (Target = 80%, Min = 50%, Mind Blower = 100%)
3. A sales pipeline of $200k as he heads into the new year (Target = $200k, Min = $100k, Mind Blower = $450k)
He can create monthly needle movers to get him closer to those goals. The 3 needle movers that will make the biggest difference in his business NOW are:
1. Hire a virtual team to do the work he hates: and admin and a bookkeeper
2. Ramp up marketing fast: get 1,000 leads in 30 days
3. Generate revenue pronto: make $5,000 in the next 30 days
Example 2: Carol is a consultant. Her annual needle movers are:
1. Become recognized as an expert in her field
2. Travel only 25% of the time (she travels 50% now)
3. Increase revenue to $300k annually
To achieve these results she’ll need to refine needle movers 1 and 2 as they are vague or need to be more easily tracked. Let’s change: Become recognized as an expert in her field to Build a following of 10,000 (that’s the TARGET, the MIN is 3,000, the MB = 20,000)
To travel only 25% and yet increase revenue, she’s going to need to productize her services. Let’s change that needle mover to Develop Product Path and launch 4 products (that’s the TARGET, the MIN is 2, the MB = 6)
So she really only has 2 needle movers. She’ll think of a third one soon! This blog could be fifteen pages long with examples, so I’m going to let you digest these two, and I’ll post two more later this afternoon.
THIS is a HUGE topic that will be covered on June 5 and 6 at my Results Now Summit in
To your continued success!
Christine Comaford, Business Accelerator
CEO of Mighty Ventures, Inc.
NY Times Best Selling Author
http://www.ResultsNowSummit.com
