Episode Show Notes
The Digital Entrepreneur's 3 Biggest Mistakes When It Comes to Sales
I see so many coaches and the digital entrepreneur not reaching their earning potential due to common mistakes. In episode 24 of the Breakthrough Babe Podcast, I am sharing the top 3 mistakes I see the digital entrepreneur making when it comes to sales and how you can overcome these mistakes.
But before we dive right in, let me introduce myself in case this is your first visit. I am your host, Jen Gitomer, creator of Breakthrough Babe and author of the best-selling book, Sales in a New York Minute.
And it is time to make massive breakthroughs in YOUR life. With each episode, you are going to move past your fears of asking for the sale, learn to build deep connections that lead to meaningful business results, and master sales strategies that will help you grow and scale your business. Each week, I will be providing you with tips to avoid common mistakes in your business, teach hacks to help you grow and scale faster, and teach you to ALWAYS ask for the sale with confidence.
It is time for you, the Breakthrough Babe, to create more sales, income, and connections in your business. Let’s get started!
In this episode, we are diving into the top 3 biggest mistakes the digital entrepreneur make when it comes to sales. And for even more juicy details, listen to ALL of episode 24 of the Breakthrough Babe Podcast on your fave streaming platform.
Digital Entrepreneur, Point #1: I see too many people taking a shit ton of time to build out their course and not making revenue while they build out the course.
What this tells me is that the course creator wants to do a good job and deliver something amazing for their audience, but they spend all this time building the back end of the course rather than creating revenue to build that course while you attract people and bring them into the program. I truly believe you can create the components in the first round and explain to people that they will be your founding members. This way, you can create it while you take them through the program. Cash flow is QUEEN, and that means it’s important you have to have cash flow in your business.
If you spend 3-6 months building out the course and then launching it, but ultimately don’t have as many sales as you anticipated, you are already behind. You spent all this time creating with no revenue coming in, and nobody bought during that time. Yes, people will buy it when it’s finished in 6 months but when you’re an entrepreneur counting on cash flow to support yourself, that’s not the right mentality. I have strategies that allow you to create that course while you are selling it, remember you can build it while you’re being paid to build it. For example, I’m talking to a company that’s interested in purchasing a custom course for their audience, if I make that custom course, what do you think happens? I get paid before making the custom course, that’s a logical business decision when you deal with companies. When you deal with consumers, we don’t think in that way and we need to start doing so.
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Digital Entrepreneur, Point #2: So many entrepreneurs are going down this rabbit hole trying to do everything.
What I want you to think about for a second is if you’re guilty of this, are you doing it right this moment in your own business? So many people are focused on all the social media things, they believe they have to be on every platform and showing up in all ways. From Pinterest, Facebook Ads, Instagram Reels, it goes on and on. These things distract us from actually putting offers out and making revenue. The scariest thing business owners tell me is putting yourself out there to ask for a sale. If you aren’t putting out offers and getting out of your comfort zone, how is it helping your business? It’s not.
When I go down these rabbit holes too, sure I’ll feel good and have fun, but then I realize I spent a whole hour creating a thumbnail when I could’ve done something that brings in revenue. We do things that feel easy to us. When I was in sales managing a team of reps all over the country, some reps were really into sales and would do the sales-oriented tasks first. I had other reps who would be shy about cold calling and selling, they would do all the admin tasks first. These other reps would still believe they had a productive day. Being organized and getting admin tasks is great, but if you are behind on your quota where are the activities that bring you in money?
About your host
Jen Gitomer gained her prowess in NYC as both a salesperson and award-winning sales leader for a Fortune 500 company. She left corporate America to fulfill her entrepreneurial dream. Jennifer helps entrepreneurs increase their revenue and profit through her proven sales strategies. In addition to the Breakthrough Business Babe Podcast, Jennifer co-hosts the Sell or Die podcast with her husband, Jeffrey.
She is the best-selling Author of Sales in a New York Minute – 212 Pages of Real-World, Easy to Implement Sales Strategies to Make More Sales, Build Loyal Relationships and Make More Money, the CEO and Founder of Breakthrough Business Babe and a master business growth coach. When she’s not working, you’ll find Jen planning her next Paris trip, taking a yoga class, playing tennis, or hanging out with her family and Cavalier King Charles fur babies.
Digital Entrepreneur, Point #3: Being unsure and hesitant with the pricing of your offers.
I was hosting a presentation last night for an hour and a half online to a group of female entrepreneurs, one of them asked me whether she should sell a small or big offer. She was wondering whether it’s easier to sell a lower-priced offer versus a higher-priced offer. Let’s do some math with this, let’s say your goal is to make $10k in the next 30 days. If you have a $5,000 offer, you have a few options. If you get 2 people to pay for that offer, you already have hit your $10k month. If you get 4 people to pay for a $2,500 offer, you hit your $10k month.
Now, if you have a $27 product, you will need 371 people to buy this to make $10k. You tell me, is it easier to get 2-4 people to buy in the next 30 days, or is it easier to find 371 people? For me, I’d rather focus on finding 2-4 people and have them be bigger sales than 371 people. That amount seems overwhelming in 30 days. In my upcoming masterclass, I talk a lot about pricing and how to determine that. For entrepreneurs, many think they don’t have the right audience size and people won’t buy if their offer is priced too high, that’s not true. People are buying, they just aren’t buying the products and services from you because you aren’t offering them.
The Digital Entrepreneur's 3 Biggest Mistakes When It Comes to Sales: The Bottomline
I hope you’ll consider these 3 mistakes I see people making and think about how they impact you in your business. Can you relate to some of these or all of them? Be sure to join me in my upcoming masterclass, www.jengitomer.com/vipmasterclass – see you there.
Here’s your breakthrough game plan: Revenue first. Income first. Money first. If you put service out and you sell, you will win every time.
Don’t forget to tune in to episode 24 of the Breakthrough Babe Podcast. And if you love this episode, don’t forget to take a screenshot, share it on your Insta stories and tag me @jengitomer so that we can spread this important message to even more entrepreneurs and biz babes!
