Business Concept of the Day: Leads 🌟

Today’s business financial concept you need to know is leads.

Hey Business Owner 👋, today’s business financial concept you need to know is leads.

Why? Because leads are the first of five drivers (or influencers) of revenue. Over the next five days, we’ll look at each of the five revenue drivers.

Leads 🌟

Leads are the number of potential customers that have interacted with your business through any marketing efforts.

Let’s break this down.

Potential Customers = These are people that fit your target customer profile.

Interacted = They took some sort of action (e.g., walked in, called, submitted a form).

Marketing Efforts = Anything that you’ve done to influence target customers interacting with your business (this includes word-of-mouth from existing customers).

All three elements must exist. In other words…

If a non-potential customer interacts with your business as a result of a marketing effort, you most likely won’t get a sale.

If a potential customer never interacts with your business despite any marketing efforts, you most likely won’t get a sale.

If a potential customer never interacts with your business because there were no marketing efforts, you most likely won’t get a sale.

So, to get a lead, you must, first, create some sort of marketing effort designed to get potential customers to interact with your business…

…all so you’ll hope to convert them to paying customers.

📬If you were forwarded this email, we invite you to subscribe to get a 2-min daily email that explains a business financial concept in a way that actually makes sense. Click here to subscribe.

đź’ˇWant to see some of our past emails? Click here.

✍️We read every email we get from you. So, if you have a question/thought/comment/idea/suggestion…we’d love to hear it. Just hit reply!

We ❤️ business owners.

Business Owners Only is written with love by a team of small business owners and managers who are on a mission to eradicate business failure.

Have a suggestion? Send us an email to [email protected].

Join the conversation

or to participate.