Golden Ratio Podcast | Hundred, Ten, Two, The Golden Ratio
What’s up everybody? It’s your boy Drewbie here to share some insider knowledge that's been a game-changer in my two-decade sales journey. I reveal my personal sales mantra and the proven formula that has catapulted my success across various industries – the 100-10-2 method. This is not just about numbers; it's a strategic approach to maximize your daily efforts, focusing on the volume of outreach and the quality of engagements to drive your sales through the roof.
I talk about the importance of setting and hitting daily KPIs that lead to actual closed deals, where we all know the real payday lies. Discover how making those 100 outbound contacts and converting them into meaningful conversations can set the stage for a stellar 2% closing ratio. Remember, it's the relentless pursuit of these goals that turns a good salesperson into a great one. Tune in and don’t miss the opportunity that could very well redefine how you perceive effort and output in the sales game.
Key Moments:
-Explanation of the 100-10-2 methodology.
-The 3 crucial components of the methodology.
-How to compound your earnings using this sales process.
Hey, what's up everybody? Welcome to Call the Damn Leads, the show by sales professionals for sales professionals. I'm your host, Drewy Wilson. With more than two decades in sales, I've seen it, lived it, been through it, and now I'm here to bring it to you, my favorite people in the world, the sales community. In this journey of sales and entrepreneurship, there's a lot of stuff we can learn and many more great stories to tell.
Today, I'd like to bring you something personal regarding sales KPIs, the key performance indicators measuring your effort. That is truly where you find success. One of the things I was told early on is that your output will equal your input, meaning the more work you do, the more you will make. That is a sales axiom that you can take to the bank.
That said, I'd like to introduce you to a formula, a ratio, and a number system that works well for me in creating success in any industry I've been a part of. So, this is called the 1102 rule. The way this works is that there are three main categories that you're trying to achieve on any given day: your total number of outbound contacts, the total number of serious conversations that you've had with someone where you make them an offer to solve their problem or to use your service, and the number of closed sales you have for the day. Closed sales are where we get paid, the ultimate number we're working towards.
Ready to dive deeper into success strategies? Tune in to the Golden Ratio Podcast for expert insights and inspiration. Check out our latest episode on 'Skipping Steps Won't Get Success.'
Golden Ratio Podcast: Maximizing Sales Performance Through Conversations
The biggest thing is understanding, though, that to create closed sales, you've got to go and have a lot of conversations. So, when I look at any given sales performance metric, it's straightforward. Most of us are working 50 weeks a year, 40 hours a week. You've got a typical 40-hour work week, you're working four weeks every month, and of that, you're only working Monday through Friday, maybe Monday through Saturday for most people, right? And again, I know you're in sales, so you're different from most people. Just bear with me here. Let's say you're working an average of 20 to 22 days a month. That gives you some weekends and a couple of days off. It's pretty standard.
In that 20 to 22 days, your daily goal must be making at least 100 outbound contact attempts. Now, that could be 100 phone calls, it could be 100 text messages, it could be 100 DMs on social media, it could be emails that you send out, whatever your preferred contact method, shaking hands, knocking on doors, whatever that is, make your goal a minimum of at least 100 touches a day, 100 outbound contacts. Now, you can automate a lot of this and use AI and these tools. Still, I want you to think about this: If you're not putting in the work yourself as a sales professional, you may not be developing the skills that you need to increase your closing ratio, to increase the number of sales that you're making by the things that you're learning through these conversations.
Now, out of those 100 outbound contacts, those attempts that you're trying to make, if you can get at least 10 of those people, that's just 10%, 10 of those people to have a conversation with you where you're able to build rapport, ask specific questions, and understand if that person is a good fit for your product or service, that's what I consider a serious conversation. And a 10% conversion rate from cold traffic is not terrible. If you can get ten people out of 100 to converse with you, you're doing pretty good. If you can increase it, all the better.
"Golden Ratio Podcast" related to leveraging LinkedIn for maximum sales impact
In that 20 to 22 days, your daily goal must be making at least 100 outbound contact attempts. Now, that could be 100 phone calls, it could be 100 text messages, it could be 100 DMs on social media, it could be emails that you send out, whatever your preferred contact method, shaking hands, knocking on doors, whatever that is, make your goal a minimum of at least 100 touches a day, 100 outbound contacts. Now, you can automate a lot of this and use AI and these tools. Still, I want you to think about this: If you're not putting in the work yourself as a sales professional, you may not be developing the skills that you need to increase your closing ratio, to increase the number of sales that you're making by the things that you're learning through these conversations.
Now, out of those 100 outbound contacts, those attempts that you're trying to make, if you can get at least 10 of those people, that's just 10%, 10 of those people to have a conversation with you where you're able to build rapport, ask specific questions, and understand if that person is a good fit for your product or service, that's what I consider a serious conversation. And a 10% conversion rate from cold traffic is not terrible. If you can get ten people out of 100 to converse with you, you're doing pretty good. If you can increase it, all the better.
"Golden Ratio Podcast" related to leveraging LinkedIn for maximum sales impact
Golden Ratio Podcast: The Secret Sauce to Sales Success
Now, of those ten conversations, you're trying to get at least two of them to agree to do business with you and to close the deal. That's a 20% close ratio of 10 serious conversations but only a 2% close ratio out of 100 contacts. If you can get at least two of them to buy from you out of 100 people, you're doing pretty good.
Now, here's the secret sauce to this. You're thinking, well, Drewy, if I've got to make 100 calls daily. I've got to talk to 10 people and have honest conversations; a real conversation could take anywhere from 30 minutes to an hour, and then I've got to close the deal, which might take another 30 minutes to an hour for paperwork. How am I supposed to get all of that done? You're right. You may be unable to do all those things in a single day. If you can, fantastic, you're crushing it. What I'm looking for is consistency and long-term consistency.
So, every day of the month that you're working, you're trying to get at least two out of the three of those main categories. You're trying to get at least 100 outbound contacts, trying to have at least ten conversations, or trying to close two sales. Because I know that if you're getting two out of three of those metrics daily, the law of averages says that through the entire month, if you're making somewhere around, you know, 2200 to 2500 outbound contacts, you're having at least, you know, 200ish conversations, and then you're closing, you know, 30 to 40 of those deals, that should be a heck of a month for you. And when you look at it, whatever your average commission is per deal, you just multiply it.
Unlock the Sales Mindset with Adam Niec on the Golden Ratio Podcast! Dive into Episode 11 for valuable insights on navigating the realities of sales.
Golden Ratio Podcast: The Power of the 1102 Rule in Boosting Sales
Hey, I know that if I want to make, let's just be accessible here, let's say you make 500 bucks a deal, and you want to make, um, $10,000 a month, we know that you have to close 20 deals that month to make your 10,000 bucks. So you reverse engineer it, and you're like, cool, I know I need to make this number of handshakes and contacts daily. I need to have this number of conversations, which will lead me to close this number of sales 20, which will get me my ten grand.
If you continue to compound those efforts, you'll find that in months Two, three, six, nine, and twelve, all of the seeds you've been planting with this 1102 methodology will lead to more closed sales, more referrals, and more closings, which will take you from that 20 to 30 deal a month range up into the 50 to 60 deal a month range.
Then you're doubling tripling your income all through the efforts that you've been putting in consistently. It's not having massive spikes one day or the next. It's consistently doing the 1102 rule every single day that you decide to put in the work for your business. Don't believe me? Try it for the next 30 days: 100 outbound contact attempts, ten serious conversations, or two closed sales. Get two out of the three on any given day for the next 30 days, and you'll find that your sales have increased and you have put more money in the bank.
Don't believe me? Call The Damn Lead.
Ready to skyrocket your sales with humor and memes? Dive deep into the art of salesmanship on the Golden Ratio Podcast! Listen now for expert insights and actionable strategies to boost your sales game.
Connect with Drewbie:
If you continue to compound those efforts, you'll find that in months Two, three, six, nine, and twelve, all of the seeds you've been planting with this 1102 methodology will lead to more closed sales, more referrals, and more closings, which will take you from that 20 to 30 deal a month range up into the 50 to 60 deal a month range.
Then you're doubling tripling your income all through the efforts that you've been putting in consistently. It's not having massive spikes one day or the next. It's consistently doing the 1102 rule every single day that you decide to put in the work for your business. Don't believe me? Try it for the next 30 days: 100 outbound contact attempts, ten serious conversations, or two closed sales. Get two out of the three on any given day for the next 30 days, and you'll find that your sales have increased and you have put more money in the bank.
Don't believe me? Call The Damn Lead.
Ready to skyrocket your sales with humor and memes? Dive deep into the art of salesmanship on the Golden Ratio Podcast! Listen now for expert insights and actionable strategies to boost your sales game.
Connect with Drewbie:
Your Host, Drewbie Wilson:
With over $15 million in online sales, Drewbie's vast experience spans multiple industries. His journey from a 300-pound weight loss to becoming a sales powerhouse has shaped his perspective on life and success.
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