Well here we are, my journey is finally over… or it has just begun?
I am lucky enough to be writing this latest update from Bali, not on a train for a change but sat here on the beach, enjoying the warm soothing air and the buzz of summer life. I am here with my entire family, which is the first time we have all been away together for a long time. Playing catch up with my 9-year-old and 11-year-old has been a blast.
I spent two spectacular months in Scotland, building a sales model from zero into a healthy pipeline that will create a sustainable business in the long-term. It’s been the most incredible journey and I have loads of people to thank for their amazing support, but let’s wrap up the last week first.
Note that I have two more blogs to write up that summarize the follow-up week-by-week and what the results are from all the work that the team and I have done over the last 8 weeks. Keep your eyes peeled for that!
It’s my last week and it has been a short one, [3 days and a flat clearance] but probably one of my most productive yet. I can clearly see the pipeline coming together now, which is extremely satisfying after almost two months of tireless building. The quality of the meetings has been far better and my interaction with Scottish folk seems to be improving too. Getting used to the culture, the style, and the softer approach was clearly a learning curve and I am still not reaching the crest.
Let’s start with the metrics and results from this week:
Booked: 7 firsts, 2 thirds, 1 partner, 1 networking.
Sat meetings: 6 firsts, 2 thirds 1 networking.
9 meetings sat, 9 from referrals, 1 from LinkedIn, 1 from networking. Of the 2 postponed, both were referrals. Of the revenue, 94 per cent came from referrals. 6 potential sales from this week.
All in all, you can see that this has been super healthy. It’s a week in which we can clearly see that everything has slotted nicely together, which is largely thanks to the groundwork we have put in over the last nine weeks. My cancellation rate is sitting at 18 per cent, my levels of referral-based meetings are extremely high at 80 per cent plus, the conversation to second meetings is great, and the pipeline from the meetings is really healthy.
What changed, why have the last three weeks worked out so well compared to the first 5 weeks, and where do I go from here?
We refined our target market. Simple as that. About four weeks ago, we did a deep dive into the metrics of who I was talking to, what the company did, what size it was, who the person I was discussing it with was. It then became really clear that, although I was having a lot of meetings, the meetings themselves were not the right ones to be having as they were not going to take us in the right direction.
We know we are good when it comes to working with startups, but this partnership needs to take place at a certain point in their journey. Also, stepping in cold, or even from networking or LinkedIn, was also not nearly as effective in getting over the initial trust barrier as bringing in referrals. A referral is worth its weight in gold and we needed to focus much more on bringing them in consistently and from the right people. This, for us, turned out to be angels and VCs. They have such a vested interest in their startups that getting a referral made sense for them, especially with our track record in this space. This change in tack was critical for us, the target market switched to more mature startups and how we got in front of them.
Why have the last three weeks worked:
The metrics tell the full picture. The right volumes of meetings, the right people, and meeting them through the right methods, bringing referrals has been at the heart of it. Word of mouth is critical in business in this day and age.
Where do I go from here: It’s all about the follow-ups. I am about to step back into the Singapore world for a minimum of six weeks, but probably 2 months. So, it’s therefore critical that I do three things:
- Follow up diligently on the meetings that I have had
- Follow up diligently on the leads that I generated but did not see
- Make sure that I am doing lead generation in Singapore and don’t drop the ball on bringing new Singapore business into my funnel, whilst still optimising my Scottish efforts.
Week nine will consist of follow-ups with regards to the Scottish work, doing a minimum of four firsts in Singapore, and getting prepped for the next two months. I am going to carry this blog on for next two weeks to keep you updated on how this plan is going, what the follow-up is, and then wrap up with a final piece on the big takeaways over the two months.
Here is me getting home after two months
Surfing with the kids