Ep 43. Do You Know Your Number? Hold Yourself Accountable To Achieve Your Business Goals In 2022!
Troy Sandidge: I have one big question for you to think about this entire episode. And you know my episodes are no more than 30 minutes. So by the end of this episode, you need to have an answer to this question. What's your number? I ain't talking about your weight. I ain't talking about your height. What's the number you need to see, you need to achieve, in 2022? Too many times, people lead with New Year resolutions and that's good, but we're going to put all that to aside. And for this moment, I need you to come up with a number, and I need you to come up with a number quickly. And I'm going to tell you why in just a little bit What's a word I emphasize a lot on iDigress? Growth. What's the action that runs parallel with growth to make it sustainable? Retain. And what's the thing we get navigating through growing pains? Gains. Well, luckily for you, the Gain Grow Retain Podcast hosted by Jeff Breunsbach and Jay Nathan is here to inspire SAS and tech leaders through the day to day challenges of scaling their business. Jeff and Jay talk all things growth and scaling subscription businesses with a holistic customer- first approach. Along with their inaudible of dynamic guests, they dive in deep into the key insights, frameworks, processes, and trends that will help customer success leaders thrive in this ever changing B2B SAS landscape to grow more, drive retention initiatives, and get more gains. Some episodes I listened to recently that still has my head moving is the 10 Customer Commandments, Creating More Brand Advocates, Difficult Customer Conversations and Customer Success at Scale. Listen to Gain Grow Retain wherever you get your podcasts. Gain Grow Retain is also part of the HubSpot Podcast Network.
Speaker 2: Troy, if folks were going to start today and say," You know what? I'm going to make'22 my best year yet. I'm going to own it," where would you tell them that they need to start with this as the strategy hacker? What's the number?
Troy Sandidge: What's the number? That's the first question you need to figure out, because when you're asking other people to pay you, it feels awkward. You feel like, ooh, the tension. I don't know. But you have to deal with that for yourself. What's the number? So is that 500, 000? Is that 250? Is that 150? Is that a million? I don't know your number. What's the number? That's the first thing you need to do for 2022. Everyone talks big about platitudes and mentality and all that stuff. That's great. Put that in the box somewhere and sit down for a minute. What's the number? Once you have the number, that puts you in accountability check. Now you have 12 months to get to that number. Do the math, divide it up. If you do a hundred thousand dollars, you have to do$ 274 a day to get to a hundred thousand dollars at the end of the year. We did 274 times 365. So whatever your number is for whatever you need to do, divide it up into 12 months. Maybe you want to do 10 months because you want to give yourself some grace. I want to be done early. I don't want to show up in Q4. I want to just cruise in the Q4. So if that's your goal, take whatever your number is, take two months off, 10 months now. Now that you have the number and you've divided it up, that's your average. That's how much money you have to generate every single month to get to your end goal. People don't like that pressure because it feels like it's tight. But if you're in business, we need a framework. We need an understanding of what we need to do and a constant blinking reminder of what we need to achieve. Now, from there, we overlay content. We overlay marketing and strategy. We budget ourselves out and we sing what's the ROI, what's the OKRs of everything, and work our way through it, month in and month out, quarter in and quarter out. And that may seem very robust, but growth is not easy, and growth doesn't happen without change. So have boundaries, ask what's the number, iron it out and apply yourself accordingly.
Speaker 3: What's up digital world? You're listening to the iDigress audio experience with Troy Sandidge, social media, marketing, storytelling, business, culture and more, coming to you in three, two, one.
Troy Sandidge: I know you've heard me tell you this before. When it comes to growing a business, our mindset is everything. If we want to scale and be able to help more people, we must understand not just how to make money, not to just how to make more money consistently. We must learn how to help ourselves make more money so that we can build the system and the processes to help others after the fact. We can't go in trying to help everybody else when we haven't helped ourself. And that's understanding boundaries and structures and systems and processes, and knowing your weaknesses, knowing your strengths, knowing your threats and knowing your opportunities, your SWOT, your strengths, weaknesses, opportunities, and threats. Do do a SWOT analysis on yourself. Do do a SWOT analysis on your business, on your marketing, on your sales, on every phase and facet of your being as your business. If you don't do that, you're behind. You're not going to achieve that number. And I'm going to keep asking what's your number, because it's very important you define clearly what the number is. I have many folk coming to me in conversations. We have potential onboarding calls. We have strategy assessment calls before we sign the contract and they get to work with yours truly in a DIY, DWY, or DFY capacity for actual inaudible services or strategy solutions. You know where to find me, findtroy.com. You know how to get to me, @ FindTroy everywhere. Obviously, listen to this podcast episode. So you have the links available to you to get to me if you need strategy, but I digress, no pun intended. I don't want you to fail 2022 already. I don't want you to fail 2022. Too many businesses are going to fail before they even begin 2022. Troy, how do you know that? They don't have the proper strategy, the structure, the clarity, the awareness, the understanding, the process, all that. They don't have none of that. And they're coming into 2022 hopeful, but with no plan. They do don't even know where they need to be. They don't even know where to go. That's why I asked you, what's the number? When you know the number, you can reverse engineer that number and divide it up into 12 months, 52 weeks, into X amount of days. I've used this example before and I'll use it again. If your goal is to reach the bare minimum equivalent of six figures a year, that's 100, 000, you must make precisely$ 274 a day. So we see six figures and like, this is an astronomical hard number. However, if I reduce it down to$ 274 a day, that seems a lot more doable, doesn't it? And you can adjust and modify your strategy, your marketing, your process, your systems accordingly to hit that goal. You know the benchmark. You know the goal. If we took this a step further, you want to reach seven figures, again, that's$ 1 million, you just add another zero. Just adding zeros here. We're just adding zeros today, y'all. That would mean you have to make$2, 740 a day. And if you want to reach eight figures, you know you got to dream big to get big, add another zero. That means you have to make$ 27, 400 a day to get to eight figures. And the process continues on and onward. When I ask you, what's the number, you have to be honest with yourself. I want you to eliminate all the friction. I want you to all the... what everyone else says, the best practices, what so and so told you, what so and so said. When you look up on the internet, when you Google other folk in your industry, in your space, offering your products, your services, your offerings, your competitors, what's your number? And once you establish your number is, we can do that exact same process and reverse engineer it. And now I'm going to tell you this. Once you have your number, you have 12 months. You have 365 days to achieve that number. Go. The problem a lot of businesses have, we try to go into the next year, go into the next quarter, go into the next month without a plan or notion of what the number needs to be. Because we don't want to put that pressure on ourselves. It's not all about the money, Troy. Sure, no, ethically and morally, it is not all about money. However, if you don't achieve the money, what inaudible you can't create the life that you want to live. If you don't achieve the money, you can't build better systems for you to do less work, but make more profit. If you can't get the money, you can't then go to sleep while making money because you need to invest money to make more money. Are we following the money trail? We understand what we're coming from when it comes down to money. But without the number, we don't know how to plan the year accordingly. I don't care about your strengths. I don't care about your weaknesses. I don't care what the competitor says. I don't care what the blue book says. I don't care about nothing, trends, whatever. What is the number? And from there, we're going to figure it out. When people come to me, the biggest thing, they don't have clarity. They're not honest and transparent about where they are, about their situational awareness at point A, and they have no idea what point B is, where it is, what it looks like. And they're like," Do something." If we don't know where point A is and point B is I can't build a roadmap around it. I can't build you a GPS around it. You need to have point A and point B coming into the conversation. The moment, you know what your number is, you have your point B. And if you're really honest about where you are right now, you have your point A. And we just connect the dots and figure it out. It's that simple. Businesses are failing because they don't come in with A point and point B. Now they may say," I have aspirations. I want..." No, no, no, no, no, no, no. Where are you right now, and what are you going to be? Now, that doesn't mean you're going to necessarily get there, but you can't put restraints and talk in terms of I'm not going to get there. Draw the line in the sand in saying," That's where I have to reach." If you're running a mile, I want you to finish the mile. So when you get to a certain point... Maybe you're out of shape, maybe you're in shape. Either case, you know what I'm talking about. When you take those deep breaths in and out, things start to burn. You get tired, your head gets a little lightheaded. Your mouth gets dry. You're thirsty. You're wondering why you're running. Why am I doing this? Your knee's about to buckle. Your toes hurt all the steps. I don't care. You put a line in the sand. We got to finish that mile. And what do I need to do mentally, emotionally, physically to continue my pace, to continue to go toward that mile? That may mean you reduce your pace. That may mean you speed up your pace. That may mean you have to scream out loud to yourself. That may mean you exert more air. That may mean you may be more conservative. Whatever the process and substance may be, I don't care. I'm not a nutrition. I'm not a physical therapist. I'm not a trainer. That's not my profession. I'm a strategist. I'm giving you an analogy to help you bring things to light, simplify it all to make it make sense. You put a line in the sand. Now, how defeated will you be if you don't finish that mile? I'll be more defeated if after only 30 seconds, I got tired and I stopped versus I got 85% of the way there and I stopped. Perspective. But I want to finish. And just because I stopped running the mile, the goal was to finish the mile. So sure, maybe I started out sprinting and then I slowed it down and started jogging. Then I did a fast walk. Now I'm just barely walking. Maybe now I'm crawling, but I'm still moving, displacement. I'm still moving toward the finish line to complete my mile. And in the same way with your business, when it comes to marketing and sales and content creation and content distribution and conversations and branding and all the things, you must continue the race and you must put all you can into finishing, to achieving that goal. I want to get to that number. You have 12 months, figure it out. Let's take a minute to talk about time. Maybe you're looking to spend time. Maybe you're looking to save time. And maybe you're looking to time travel to summer because it's already too dang cold outside. Either way, in business, your customers are looking for same thing. Time. Your time, to be specific. Because time equals attention and attention means feeling understood. HubSpot wants to help you be efficient with your time while helping your customers feel understood. HubSpot has rolled out a ton of new customer- centric tools that help your business, show your customers all a whole lot of love, every step of the way. New payment tools like native payment links and recurring payment that directly embed in HubSpot's quoting tools and emails mean seamless delivery and payment collection. And now with the CRM powered CMS, your marketers and developers can personalize the customer experience and ensure that the attention your customers give you is reflected back at them in data that is timely and relevant. Learn more about how a HubSpot Sierra platform can help you build, maintain, and grow your customer relationships at hubspot. com. It's an economics game. It's a psychology game. It's a sociology game. It's a lot of different games compiled into this thing that we're playing chess to make this business work. But so many businesses don't even establish a number. Funny thing is, they aren't willing establish a number, but they sure will paint the picture of what the vision they want. I want that new Rolls Royce. I want that new Gucci. I want that house. I want that vacation, that five star vacation in the Bahamas. I want to travel the continental United States, travel the world. I want to eliminate debt. I want all these things. But they refuse to put down a number and work their way backwards. Because now you got to do one big thing when it comes to business and strategy is accountability. When I think back to my personal trainer, Coach Lonnie, one of the biggest things I struggled with is accountability, where every day I have to meal prep and I have to log what I eat, my macros, my micros, how many calories have I consumed, how many carbs. Did I drink a hundred ounces of water? Did I do 30 minutes of cardio? Did I do the weight training? Did I do the exercises? And it feels painful when you don't feel it all out. And it's supposed to. If you care, you want to do it right, because that, over a period of time, of days, of weeks, of months, by the year's end, I'm going to be much more closer to the results that I wanted to if I stay consistent and if I keep my number on top of mind. If no one can find you online, if no one knows you exist, if someone Googles you and you don't show up in search, doesn't matter how amazing your product or service is because no one can find your website. No one can find you. Half the battle to increasing your traffic from your website is understanding what you need to fix on your website in the first place in the hopes of attracting the right people to say yes to start the process of the sales conversations. This is where our friends at Ahrefs comes in handy. Discover optimization opportunities for your website. You'll see which keywords your pages are ranking for. You'll understand how Google sees your content. Visit Ahrefs, A- H- R- E- F- S. com/ AWT. Sign up for free tool. Connect it to your website, and you're all set. As a Honey Nuts Cheerio slogan would say," Be happy, be healthy." That's the goal. And in the same way in your business, be happy, be healthy. We want a healthy business and want a happy business. And we want you to be happy and healthy in the process of building scaling and growing and living through your business. Ooh, come on now. Come on now. We here, we here. Stay with me. So the core goal is to have discipline and accountability, striving for that number. We're taking this big gigantic astronomical number and we're dividing it up into 12 months, and then again in 52 weeks, and then again to 365 days. And if you want to get done early, let's say you want to get done in 10 months, you take off two months. You don't want to do anything on the weekends? You take off the weekends. That means this is what you have to deal with to get to that goal without these things. I want to grow, but I don't want to lose the quality of life that I deserve or that I have. Maybe you have a family, you have kids, a loving partner. Whatever your personal case, business case might be, you want to of get the growth that you want, but not sacrifice the quality of life to get it. Now, sure, there are some sacrifices, but this whole hustle culture is not healthy. And there are seasons, there are moments where you have to hustle and grind. No denying that whatsoever. But romanticizing that as the be all, only way to achieve astronomical growth to the growth that you're trying to achieve that number, is not the case. You put down the number. You put down all the inputs of money that you have coming in, all the outputs of money coming out, you put together a budget. How much do I need to maintain my business? Where is my profit margin? Where does my profit margin need to be? We'll determine how much I need to charge as a product, as a service, as an offering. And how do I create a marketing sales conversation to attract those individuals, close those individuals, get them to sign, and have a process and system of in place to maintain proper alignment, whether you're retainment, repeatable buyer, whatever the case might be? But it all starts to breaking down what is your number. And see, people have... They struggle with these type of questions. They struggle with these type of episodes because it feels like you're calling me out. It feels like how do you know? Stop telling my tea. I feel uncomfortable. Guess what? Growth is uncomfortable because you're literally leaving one state of thinking and place of being, and you're forcing yourself into a new state of thinking, a new place of being. It's navigating the unknown trail to get to the other side, to reach your destination. We are so focused on the how, but we haven't done enough work to determine the what. The what and the who. What's the goal and who is going to help me get to that goal? The what and the who. Once we know the what and the who we can figure out the how, but understand that the how is going to constantly changing. We have talked about this. Clarity, leverage, optimization, vision and value, execution, and results. Direct, authentic, resourceful, and tactical. Legion, engagement, authority, demand, sales. My CLOVER, my DART, my LEADS. These acronyms though, constantly reminded and repeated through all multiple episodes through this series on iDigress is meant to remind you constantly where you are, what you need to do, what steps you need to take, that once you have your number and you line it all out on the spreadsheet, you line it up on a piece of paper in your Excel, whatever the case might be, and you break it all down, this is what I need to do to get to that number. If I do these five things every day for 365 days, giving myself grace to maybe adjust and modify myself accordingly as things come up, as culture change changes, as life changes, but I stay the course and modify accordingly, I should be able to get to that number. Because that number is not just a number. That number is freedom. That number is my business being where I need it to be, where I want it to be. That means I've made the growth I needed. That means a new house, the new car. That means a lot of things. It's riding on this... But it's just a... But that number unlocks the door to so many things. So hopefully, you know the number you need to achieve in 2022. I shared this post on multiple channels and I'll show this here and I'll be done. And this is a declaration to myself. I'm breaking away from the circles that don't serve me in 2022. You know those circles that give the perception it's helping you, but in reality, it's more one- sided and you've been giving more value than value received? Yeah, those circles. Bye- bye now. They got to go. We honestly have to evaluate where our time goes. My hope is, next year, is to not, this is for, me be that token Black professional that people only say is, air quotes, amazing, but be that professional who happened to be Black, that can scale and client work and opportunities that people reference my work and know what I actually do. And a lot of that is by brand positioning. But it's also in who I communicate with, who I allow access to my mind, what I listen to, what I feed my brain, who I engage with. It's one thing to give time strategically for free. It's another thing when people constantly use you strategically for free under the conditions of friendship, awareness and inaudible diversity that's really more of a PR stunt to the benefit, knowingly or unknowingly. And again, this is for me. But if you don't do something about it, when you recognize these circles, these situations, these groups, this process is not working for you. You will be trapped. You will be limiting your reach, your opportunity and your possibilities. But then once you also identify, you then must therefore speak up. Speak up to yourself so you can hear, this is no. This is bad. This doesn't work. I must leave this, though I may be comfortable in this. I must leave because it is not serving me, and it's not aligned toward the number. People will take advantage of your kindness, abilities, talents, vision, and business if you don't set proper boundaries, if you don't update their perception of who you are, if it's not accurate and not be clear about your who, what, where, when, why and how. Again, this is for me. And again, my podcast is iDigress, and I'm all about multicultural communities, BIPOC, my Black professionals out here. I know many people of color who are trying to break through don't like to talk about it. And many times we compartmentalize the reality of what's happening because you see more people air quote talking about you, but it's not the right people. It's not the right channels. It's not the right mediums. Therefore, it's not serving you. If you aren't making money from the situation to sustain yourself, your business, your livelihood, you must therefore leave because it's not serving you. Those interactions aren't helping you. They're not helping you be successful. Without change, growth cannot take place.
Speaker 4: And that's a wrap. We hope you enjoyed this episode of iDigress. What was your takeaway? Care to share your thoughts and tag Troy on social media? You can find him on all platforms @ FindTroy. Don't forget to like, subscribe and leave a review or comment for this episode from wherever you're listening. Looking for a marketing strategist to build the structure, strategies and systems you need to get the success you want and the ROI you desire in your business? Book a discovery call to talk with Troy at findtroy. com. And as Troy's philosophy goes, imagination is the engine, content is the fuel, social media is the highway, marketing is the roadmap, sales is the destination, culture is the GPS. Thanks for listening.
There's only one question you need to have the answer to in order to create a roadmap to make 2022 your best year yet in your business: 'What's the number?'
Understand that number also represent everything you want your business to do for you. And when you have clarity about the cost that comes with the success you want, you then can reverse engineer it into actionable tasks you must achieve daily to get it.