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136 weeks ago, by Tim
What the biggest loss of money to your business?
It hit me this morning about 7.45am that, regardless of what you spend or how you economise, the biggest leakage of cash out of your business is by and away the sales you fail to close.

No doubt, James Coakes will disagree, but what is more costly, especially when you factor in lifetime value?
136 weeks ago, by James
How can something leak out that hasn't come in? The biggest leakage of cash in my case is expenses that I didn't factor into the sale. Another situation is clients that I went further to get who turn out to be clients I shouldn't have gone after in the first place. These are two leakages.

I'm sorry if you think I disagree all the time, Tim. Rephrase your lost opportunity question though because it's worth discussing.

136 weeks ago, by Tim
You're just creating debate, I expect it.

I meant for the heading to be what it is because by saying your lost sales are 'leaking cash' highlights how vital there are and how they should be in the bank None of this, "IF we get the sale," loser talk. It's far more positive to assume you have the new client and from that new perspective, by NOT having him, you've now lost money .
136 weeks ago, by James
I think that assumes a level of control. Sometimes you don't gain a new client because the thing doesn't actually happen. You don't lose it to someone else, plans just change.

I'm not a fan of overly positive blue sky thinking. I think that you have to be very specific about the things that happen in your field and then work out how to address them.
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Tim Coe

Profile Tim Coe
Member Since:
28th May 2013
Personal:
I run my business from a High Street office in the Georgian seaside market town of Lymington on the edge of the New Forest. I've lived there since the age of 11 apart from a 6-year spell in Walton on Thames, Surrey.. I love music, food, boats and sport [see interests below for specifics] Since the age of 18 I have worked exclusively on my own businesses; from plans to launch an 80-van mobile car valeting franchise, that were scuppered last minute due to a 3 month emergency hospital visit, to importing Nissan vans from Dublin, my career has been a lot of fun. I have started businesses in transport, music, automotive, sales, franchising, catering, development land, conveyancing, tax and of course…unavoidably and unsurprising to me I have ended up where I knew I would one day... marketing. I know James Coakes [at a distance] and have eaten a sandwich in his office located a sausage roll throws away from my own HQ.
Professional:
BUILD UNQUESTIONABLE CLIENT LOYALTY FOR YOUR B2B SERVICE BUSINESS AT THE UK’S ONLY REGULAR MARKETING BASED WORKSHOP Business is about standing out & not blending in Implanting your company’s offer into the minds of your intended buyers should be your no.1 priority. Encouraging people to talk about your business in the way you want them to isn’t easy, but it’s vital. It is possible though. All you need to do is decide what do you want to be known for & how do you want others to describe you. Next, create your USP [your Utterly Seductive Proposal] and forcefully rubber-stamp it across the entirety of all your marketing. Your Utterly Seductive Proposal is the all-conquering headline by which you wish to be known by. It powerfully and succinctly conveys why your ideal target client should do business with YOU over any of your competitors. I run events in the south of England where the entire focus is on creating your USP. http://www.myusp.biz/events
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