If you’re in business, then you’re in sales.
And no matter how you spin it, sales is tough on your mental health.
The problem with sales is that it’s full of rejection.
And when your livelihood depends on making sales, the rejection hurts.
Most people deal with this problem by trying to avoid the rejection at all costs.
As a decorator this might manifest itself with the following symptoms:
- Charging less than you’re worth to make sure you get nearly every job you go for
- Taking on any job that comes your way because you’d rather take the easy money than risk getting rejected going for the work you really want.
However, to be successful in sales you need to embrace the rejection.
You need to see it as a necessary evil.
With this in mind, I wanted to share the most powerful tactic I’ve used over the past 10+ years to help manage the stress of making a livelihood from selling.
The key is to take the emotion out of the situation.
And the best way I’ve found to do this is to turn everything into numbers.
You may have heard the saying ‘Sales is a numbers game’
Well, in this case, it most definitely is.
To turn everything into numbers you need to start tracking your efforts.
As a self-employed painter and decorator this means tracking the number of enquiries you get and how many of those turn into jobs.
You need to write it all down and measure it over a long period of time.
You see, the problem with rejection is that it doesn’t take much to get you worried.
If you quoted for 20 jobs and got 16 of them, that sounds pretty good right? 80% conversion rate.
But what if all 4 of the rejected quotes came in a row?
You’d be a mess.
Because it only takes a couple of knock backs to fill you with stress and have you re-evaluating your whole business.
This is why so many people do everything they can to make sure they get every job they quote for.
Even if that means charging less than you’re worth!
You see, when you start viewing it all as just numbers, you’ll become more comfortable with rejection.
And when you become more comfortable with rejection you can start charging more.
You just start viewing the process as one big funnel
Enquiries go into the top of the funnel…and a smaller amount come out the bottom as jobs / contracts.
Put enough in the top and you’ll get enough out of the bottom.
So how does this make you more money as a decorator??
Let’s say Derek the Decorator currently charges £140 per day.
And for every 20 jobs he quotes he tends to get at least 18 of them.
His conversion rate is 90%. And this process usually keeps him booked up about 4-6 months in advance.
What do you think would happen if he started charging £160 a day?
Realistically, he’d probably win fewer jobs. Say 15 out of 20.
Giving him a conversion rate of 75%.
But, as long as he stays busy, he is earning £100 per week more. (£5k a year!)
This is about as far as most people will let their conversion rate drop.
However, the real money is made when your conversion rate is around 40%-50%.
What if Derek put his price up to £200 per day?
He won’t get as many jobs, but I bet he’d still win a few.
Let’s say 8 out of 20 (40% conversion rate)
Now he’s earning way more money. £300 per week (£15k per year).
A conversion rate this low can seem scary…but break it down to the numbers.
Realistically, the average decorator does 4-6 jobs a month.
If his conversion rate is 40%, this means he needs to get 10-15 enquiries a month, to get 4-6 jobs a month.
So, as long as Derek gets 10-15 enquiries a month, he’ll always have enough work to stay busy. AND he’ll be earning an extra £15k per year.
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