As we prepare to celebrate a killer Q4 with our RMG Clients, we wanted to check in and see…
Have you been keeping up with your numbers?
Are you on track to hit your 2022 Goals?
Not quite sure… no problem! Take a look at the steps you can take today to make the best of Q4.
- How to Reverse Engineer Your Quarterly Revenue Goals
- How many calls you ACTUALLY Need
- What you can track to STAY on Track
- Where you can start today to hit your Q4 Goals
Hey, Jamie here from the restoration success show in this episode, we’re gonna talk about reverse engineering. How many leads you need per month to hit your growth goals for your restoration company. Right? So a lot of companies, um, that I talked to, I think they’re really just like, yeah, I want more leads. I want more business. Right? And they kind of just leave it at that. Well in this episode, I’m going to talk about ways that you can really reverse engineer based on your average ticket size. You know, it’s gonna matter whether you do just mitigation or if you do the, the build back. Um, and basically, we’re gonna factor in your closing rate to really figure out how many leads you need per month To hit your revenue goals, right? And since we’re going, this is, you know, we’re starting to creep on Q4 in 2022. So maybe you can kind of, you know, look into this and reverse engineer it to finish 2022 strong and you can figure out how many leads you need in Q4 to hit your 2022 goals and then you’re gonna have to figure out how to get those leads right. Like you can’t, a lot of people are, even if you’re doing paper lead models or whatever. But I think a lot of companies that they realize too, like there’s a very, very good chance if you, if you’re ambitious and you’re trying to get to multiple multiple seven figures or even 10, 15, 20 year. You’re, you’re not gonna get there just from paper lead alone, right? Um, at least I haven’t seen anybody get to 20 million yet with just for that piece. So this week’s episode is just kind of, you actually figuring out how many leads you get and then you take that and you, and then you reverse engineer to like, you know, let’s say you need 100 leads a month. Well then you gotta figure out where you’re gonna get those 100 leads from, right? And a lot of restoration comes. Just don’t take the time to do that, I’ve noticed, right? So hopefully this kind of helps you zoom out and work on your business instead of in your business and kind of just, you know, to kind of start planning Q four and what you need to do to finish the year strong and hit your growth goals that you have for 2022. So enjoy this, this episode and we’ll talk to you guys soon. The key piece number one is, you know, set clear goals and again, some of this might seem kind of elementary, but I think we all need, especially once a year, which again, it’s in the 2021 is perfect timing, but we need somebody to remind us. Um, hey, maybe it’s, it’s, you know, a time to step back, work on your business instead of in it and figure out where we’re going, what are our goals for next year? How many leads? We need to get there? And, and a good metaphor for this is kind of like a sailboat, right? If you, if you don’t know if anybody, anybody on here has been selling before or not. But I mean if you’re on a sailboat and you don’t know the wind patterns of that day and you don’t set the mast and the sails correctly, I mean you can end up running in circles um, if you don’t do it right, and you don’t know where you’re in point is, right? So when it, it’s, this is comparatively like having clear goals, it’s like having wind in your sails where there’s no wind blowing, you’re not gonna get anywhere right. But if it’s a, if you have the goals set, the mass set, you know, for the sailboat metaphor, it’s, you can head in the right direction and tracking it along the way and then what do you do on a sailboat, You adjust it accordingly to make sure you end up in your final, your final destination. And I always thought this was a kind of cool study. I don’t know if you guys have seen this before, but there was a Harvard study done and interviewed a bunch of grads about goal setting, not goal setting and here’s what’s crazy. The 13% of the class who had goals were earning on average twice as much As the 84%, um, twice as month, right? That, that’s, I’d say it’s enough to like take goal setting seriously. And this is what’s crazy the 3% that had them written down, you know, because it’s, again, we’re human beings are funny, right? If we’re not reminded of something consistently, our minds just, you know, we’re in La la Land and we just kind of forget about, right, we all have intentions, but we might not necessarily remember to do that unless we’re reminded of it, right? So that’s why I think writing it down and then bringing it more in your brain is so powerful, but 3% were earning 10 times as much as the other 97% put together, all of them put together. It’s like so long story short as you’re working this today, make sure you take notes and actually map this out. Um, and, and you know, not to go on a side note, but I’ve read this a little bit too and I don’t even do this honestly, like I said, I don’t do this as often as a ship. But this is a great reminder for me to like, even if you want to write down your company goals every morning, um, with pen and paper, I don’t have to study with that. But again, that that’s that you can take this to a whole other level. But um, you know, reactivate, it’s like your particular activating system in your brain or whatever. It can help hard wire it to, to keep you focused on where you’re going? Um but this is just proof that that doing this and you guys, you know, appreciate you showing up today and taking action and doing this because obviously I’m assuming most of you guys are going to achieve achievers and if you’re not, you’re about to be right. So you, so you kind of want to, so here’s like a general framework and again, you don’t have to do it a specific way. This is kind of what we do that works for us. Um but, and this is simple, but you know, today, excuse me a second. Um well, you know, we’ll talk more about annual goals, but then reverse engineering them the quarterly week or monthly and then yeah, you can even dial it down even further, which I kind of like do, you can take it down to weekly and daily as well. Right. But again, start high level, you reverse it and you know, reverse it down to what, what actions have to take to hit the goals. Um and then, you know, something that I started doing that will help you guys, if if you guys use, you know, I don’t know if you use I calendar outlook or google calendar, but you can schedule a meeting with yourself In your calendar like now or do it after this webinar um say, Hey, you know, let’s say March 31, or maybe just do April 1, 2022. A 2-hour block in your counter. So you remember a meeting with yourself too? Hey Where are my 2022 goals? How am I tracking? And that way you can kind of keep back on track and you can do it, you can break that down a weekly monthly. However you think however often you think you need to be reminded. Um But that’s something that I’ve done that. That’s worked out great again because we all say we’re gonna do it but unless it’s in the calendar um I mean there’s actually a quote. I can’t think of it now, but I’ve heard a quote about that too. You know, we all talk a big game, but once until it’s in the calendar is when it’s um that’s that’s when it’s official, right? It’s like if somebody wants to talk to you whatever it’s like, well a lot of people say that but it’s like until we book a meeting and we’re gonna talk like then it’s real right? Once you schedule it becomes real. So schedule a meeting with yourself to do your um you’re checking on. I mean this could be personal goals and company goals. I mean, I know today we’re focusing on, you know, your your restoration company. But you know, you can apply this to any any area in your life that you’re looking to improve. So Alright, let’s think. Here’s some questions to ask yourself um What’s your revenue target for next year, How much is that gonna be monthly? How many leads or calls are you gonna need to hit that? Um And what’s your average transaction value? Right. So once you you guys can write this down um and and work this together, I’ll just give you example right here. So let’s just say you’re, you know, you’re a smaller restoration company and you’re only doing, you know, 7 50 a year and you want to double next year. Right? You wanna do 1.5? Um So that’s 1 20 525,000 a month. Most of our clients, what we see is, you know, anywhere this this will vary for you. Just put your number in here. Um But an average job size of 3000, right? Some of our clients is closer to 25. Some of it creeps up to 45 5000. If you do the rebuild, put backs, it could be, you know, 89, 10,000 month. Right? That that will kind of be but on average across the whole, I think 3003 thousand’s a safe target. So in this instance That would be 42 jobs per month. Um I don’t know. Let me make sure that math is right. 42 Yeah, 1 26 close enough. Right? So it’s 100 26,000. Um You guys understand the point, right? You just divide this by 12, divide that, you know, I don’t, I think you guys understand how to get there. Right? You divide that by the number of months divide, you know, and then multiply how many leads or divide, you know, your monthly target by your average transaction value. They’ll tell you how many jobs you have to get on a per month basis. Right? I don’t think a lot of, a lot of restoration companies don’t necessarily take the time to focus and like map this out. Like I hear it all day every day, you just want more leads. Like, um, I mean everybody wants more leads, right? If you’re trying to grow your business um, and then you want more leads, but having an actual goal and target allows you to allow this is what we do with our concept. Like allows you to reverse engineer. All right. This is how we can get there. So there’s one more piece to this though. If you get this many lead or you need to know how many leads you need to get that many booked jobs. So here’s how you guys can do it. You know, what’s your, um, Your average conversion rate, you know, leads to, you know, it could be anywhere from 55 to 95%. Right? I mean, I know, you know, everybody tells me they close 100% and like, you know, everybody thinks they’re good at closing until you actually track it and you’re like, man, I actually didn’t, but we do see like a lot of our clients could be anywhere from 70 to 90%. Um, Obviously if it’s more emergency based type work, that conversion rate will be a little higher or it should be, um, if you do a lot, a little bit more rebuild, you know, remodeling type work, mold removal type work, the conversion rate typically be uh, is typically a little bit lower because people shot that out a little bit more than they do the emergency stuff. So in our example, I showed you guys earlier If you’re trying to double next year from 750 to 1. 5 or you just want to do 1. 5 next year Million. Um, you need a 76 leads per month on average. If you’re closing, um 55%. Right? And then, so like what I like to do to is, let’s say a lot of you guys are probably 24 7, right? If you’re restoration, most of our, unless you guys are 24 7. So let’s take 76 divided by 30 2 1⁄2 leads a day on average. Um, is what you need, I kind of like saying, I like seeing it on a daily basis because it makes it seem, I don’t know, a little um, I don’t know, I just like to take it down because then you can kind of like, all right, I need 2. 5 liters a day. How are we gonna get 2. 5 liters a day? Um And you guys obviously tweak these numbers for your particular situation, but this is just a great simple framework um for you guys to think about. Um And I’m gonna give you guys uh here at the end, I’m gonna give you guys this uh a worksheet. So, if you wrote that down, I mean, you know, that’s good too, but I can I’ll share this with you and you can kind of plug in your own numbers um and kind of play with it here after the call. So hang tight. Um Alright, so hopefully you guys took a minute to kind of think about that. Hopefully you didn’t fall asleep, he fell asleep, wake up, and I was kidding, but Alright, let’s uh let’s keep rolling. So now we kind of talked about the main, the first main pillar was the gold thing, right? So now, you know where you wanna go in 2022