I always recommend that we apply systems thinking to our businesses. The above is ”rocket ship” analogy that I have found to be very effective in getting that message across.
There are five main modules to the total system. These five modules are all subsystems of the total process.
- The TRAFFIC System
- The CONVERSION System
- The DELIVERY System
- The LIFETIME VALUE System
- The REFERRAL System
Invariably, we tend to focus on delivering a great product or service to our clients i.e. the DELIVERY System. However, for our business to realize its full potential we need to have all of the other systems in place – and working optimally.
In my experience, I have found that the most effective system of all (for most businesses) is the REFERRAL System – but referrals generally happen by accident. This does not have to be the case. We can get tremendous benefit by systemizing our referrals.
Also, we tend to think we need more TRAFFIC. However, the constraint for most businesses is usually the ability to convert from unique web visitors to qualified sales leads and then to clients i.e. we need to work on our CONVERSION System.
In other words, we need to be able to CONVERT our existing traffic before we start spending money on new traffic.
These are just a few of the principles that I will be covering in my soon to be released book:
How To Grow Your Business with S.P.E.E.D. – scheduled for release in August 2014 – stay tuned for more updates.