BRX Pro Tip: Fix the Leak Before Adding Water
Stone Payton: And we’re back with Business RadioX Pro Tips, Lee Kantor and Stone Payton here with you. Lee, let’s chat a little bit about filling the pipeline, populating the funnel.
Lee Kantor: Yeah, this is interesting. And I think this came up recently for me with one of the coaches I recently interviewed. He said something, he said fix the leak before adding more water. And what he meant by that was we were talking about people’s go-to move when something happens. Say, revenue is slowing. So, the first move usually is I got to get more leads because revenue is slowing. So, I need more leads to fill the pipeline so I can get more revenue.
Lee Kantor: But sometimes the real problem isn’t at the top of the funnel. Sometimes the problem is that customers are leaving faster than you’re getting new customers. Maybe the problem is that opportunities aren’t being followed up. Maybe the problem is that referrals aren’t happening at the speed you’d like, or prospects aren’t kind of making their way through the pipeline and actually becoming clients. More marketing or more leads aren’t going to solve any of these problems. If you have a leaky funnel, then just more isn’t going to be helpful. It’s going to just make the problem worse.
Lee Kantor: So today, I recommend look at your last ten lost opportunities and see if there’s a place where revenue is leaking. Before you spend any more time looking for more prospects, figure out if your problem is your funnel, a leaky funnel. If that’s your problem, fix that first before adding more prospects to it.
