You probably have no idea what a lead is. So I’ll start from there.
A lead is a potential client. Period!
It can’t get simpler than that…
However, whether that lead (potential client) has the ability to pay for your services is another thing entirely. Some professionals just have leads and only successfully convert very few to clients.
But this post isn’t about conversion optimization, so I’ll stop there.
The thing about hard truths is that you probably already know they exist, but you just don’t want to admit it.
Well, if you must grow your practice online to the point where you have something successful, you’ll have to face these truths. The worst thing you could do to yourself is start out online with some out-of-this-world expectations, only to fall flat on your face after 6 months because those expectations weren’t realistic.
The following hard truths should help you determine whether building an online business for your service is something you want to do at this time.
1. You’ll Probably Go Broke
The idea of building your practice online probably looks so enticing to you that every time you think about it, all you see is the million dollar rainfall! Wow! So much money…
Snap out of it!
There’s a process to everything, and the same applies to lead generation. The first step is always to set yourself up online by first having a website. During this phase, you’ll agree that you won’t be getting any paid clients yet.
But that’s not all. You also need to attract the leads. Depending on how you set your business up online, some leads could pay for your services at the first instance of spotting you (through your services page), while others simply won’t (they’ll need to trust you first) until after a period of time.
2. It Is Not For Lazy Asses
Entrepreneurs are the most hardworking people I’ve seen. But, we tend to be the laziest of people too. Why? Being that we have no Bosses to answer to, we’re not accountable to any other person; of course that is if you don’t have a business mentor or coach.
The last thing you want to do when building your professional business online is to “drag your feet”. The end result of lead generation is to actually get the clients and the amount of time that takes depends on how fast and accurate you are. The lazier you are, the slower your results.
3. You’ll Need To Know How To Sell
Most professionals are actually really good at what they do. But a lot suck at marketing…I mean, really SUCK! Well, the good thing is that online marketing doesn’t really entail the kind of marketing you’re used to offline.
All it involves is you talking about what you do in the right places. Before you can convert a random internet user to a lead, you need to sell your expertise by sharing a little about what you know. It is only when you do this that you get noticed online. For example, this post is me sharing a little about what I know, and since you’re reading it, then I’m getting noticed :).
4. Not Every Lead Will Become A High Paying Client
Don’t expect every lead you convert to pay you six or seven figures. If that’s what you’re looking for, then you‘re probably in the wrong business. Start doing real estate.
As long as humans exist, there’ll always be low paying and high paying clients. It then depends on which ones you close deals with. It is possible to tweak your site to only attract the higher paying ones, but trust me when I say that low paying clients will always “hack” that process.
5. Some Leads Will NEVER Pay You A Dime
The ultimate peril of the online entrepreneur is only having freebie seekers to sell to. They’ll never buy anything…if it’s not free and completely effortless, then it’s not for them.
Repel such people at all cost! They’ll never make you any money and they’ll never even help you promote your business.
We all have them- they’re there to make up the numbers. And a lot of times, it’s hard to get rid of them too. But when you can, sieve them out. The last thing you want to do is to pay your email marketing service provider a recurring fee to keep such leads.
Note: Freebie seekers are different from leads that are not ready to buy. Freebie seekers already have a purpose- get your free stuff and move on. For leads that are not ready, they’re still yet to make up their minds about you. So your job is to help them do this.
6. You Can’ Be Successful At It Without A Website
There’s the option of using a lead generation service where you tell the service providers what you need and then they sell you leads related to your request. Most times, these leads are often terrible and many don’t convert. Also, when you give such an integral part of your business out to someone else, you’re at their mercy. Avoid it!
Having your own website means you control everything, from lead generation to customer conversion. However, you don’t need to know how to do everything. That’s why I offer writing and design services to professionals who don’t know how to generate their own leads. The point is, don’t be fully dependent on an external source, whether Facebook or Twitter or Lead gen services, because you’ll always be at their mercy.
7. Some Leads Will Fall In Love With You
Some people will only stay on your email list simply because they probably like the way you sound via email, or the kind of message your express. They probably aren’t there to buy anything or get any freebie from you.
Even though you may not make a dime from such people, you need the encouragement they give. Trust me, if you need a testimonial on a new product you’re developing, you’ll definitely get something positive from such people.
8. One Lead Can Give You That Big Break
The big break! That instant shoot to stardom and financial power that we all want. Sometimes slow and steady doesn’t always win the race, especially if your opponent is fast, steady and smart.
This still boils down to knowing where to talk about your services. Do this where the big shots are and you should expect that big break anytime.
9. You’re Most Likely Not Qualified
Offline, if you don’t have the certifications and professional qualifications to go with your service, then you’re not qualified. So yes, if you don’t have any certifications, then don’t even think about building a business.
But online, anyone is qualified to do anything. The hacker is qualified to hack your website, the scammer is qualified to take your money and I’m qualified to teach you lead generation :). It’s only a thing of the mind. If you think you know a lot about something and can teach someone else about it, then you’re qualified. So get rid of that mental trash.
10. You Have To Show Up Everyday
It’s easy to set everything up. But consistency is always the hardest part. Showing up every day comes after you’ve generated your first few leads. To ensure you’re always the first thing on their mind whenever they think of that problem, you need to communicate with them consistently. This is where email marketing comes in handy, but that’s a post for another day.
It doesn’t have to be daily, but be regular.
That’s it!
10 truths to get your head in the game of online entrepreneurship. There’s a whole lot more, but I narrowed it down to this number just to get you started.
Don’t let any of the points I mentioned above scare you from getting started. In fact, the purpose of this post was to make you realize your pitfalls so you can fix them, not chicken out.
If what you have to do is get rid of all the mental trash you have about getting people to pay for your services online, then please do yourself that favour. The important thing is to get started because once you do this, everything else starts to fall into place.
What truths do you agree with and which ones scared you the most? Share your thoughts in the comments below.