Ryan Reynolds (0:00)

Ryan Reynolds here from Mint Mobile with a message for everyone paying big wireless way too much. Please, for the love of everything good in this world, stop with Mint. You can get premium wireless for just $15 a month. Of course, if you enjoy overpaying, no judgments. But that's weird. Okay, one judgment anyway. Give it a try.

Mint Mobile Announcer (0:19)

@Mintmobile.Com Switch upfront payment of $45 for 3 month plan equivalent to $15 per month Required intro rate first 3 months only, then full price plan options available, taxes and fees extra. See full terms@mintmobile.com and we're back folks.

Jim (0:32)

It looks like Jim from sales just got in from his client lunch and he's got receipts.

Sales Team Member (0:37)

His next meeting is in two minutes. The team is asking can he get through his expenses in that time?

Jim (0:42)

He's going for it.

Sales Team Member (0:43)

Is that his phone?

Jim (0:44)

He's snapping a pic. He's texting.

Sales Team Member (0:46)

Ramp Jim is fast, but this is unheard of.

Jim (0:48)

That's it. He's done it. It's unbelievable.

Mint Mobile Announcer (0:51)

On ramp expenses are faster than ever. Just submit them with a text. Switch your business to ramp.com.

Omar Zenhom (1:11)

Hey. Welcome to the $100 MBA show. Business insights delivered on a silver platter every single day with our daily 10 minute business lessons for the real world. I'm your host, your coach, your teacher, Omar Zenholm. I'm also the co founder of Webinar Ninja, an independent software company I started with my co founder back 2014. And today's episode is Q and A Wednesday. On Q and A Wednesdays, we answer a question from one of you, one of our listeners. If you got a question you want to ask, go ahead and email me over@omar100mba.net Today's question is from Frank and Frank asks, hey Omar, I need to make some quick sales right away. I got a surprise bill from my web host. I got a surge of bot traffic that caused my hosting bill to be quite large. I've been able to adjust my hosting plan so it doesn't happen in the future. But I need to make some quick sales to cover this expense. What's your advice? Thanks so much for your help along the way. Frank. Frank, there's going to be some times in business like this one where you're going to need to make some quick sales. You need to get an injection of cash, especially at the start of your business where you just don't have a lot of buffer or Runway. Now if you're listening and you might be just like Frank looking for a quick injection of cash or you just want A boost of sales in general to give your business some life so you can invest it into making more sales. This episode is for you. I'm going to share with you some of the best ways for you to make a quick sale or quick sales in your business. Now I should preface this with the fact that you must have an existing product or offer. Whether it's a course or a training or a consulting package. This makes things a whole lot easier. If you don't have one, you better create one and apply today's techniques. So let's get into it. Get down to business. So Frank needs to make some quick sales in his business. Here's my best advice. The first thing I want to mention is in this process, you don't want to sacrifice quality or do something that you can't fulfill or promise something you can't fulfill. Like say I'm going to give you XYZ and you just don't have the time to give XYZ or don't have the resources to give xyz. So don't over promise give something. That's why I suggest give something or sell something that you already are selling. Something that you already are offering. Something that is tested. If you don't have something like that, then create something that's minimal viable. A minimal viable coaching package or consulting package or even just a consulting hour. Don't over promise in the hopes of making money or trying to sweeten the deal to make it easier to sell. So how do you do this? The first thing I always recommend is to tap into your existing customer list. Anybody that is buying from you right now or has bought for you in the past, there are the most likely person or or most likely demographic to buy from you again. They have already have gotten value from you. They trust you. They know that you can deliver. You've built a relationship with them. These people are primed to buy. They're super warm because they've bought before. So emailing your existing customers an offer is one of the fastest way to make a sale. A lot of people use the formula of the four day sale. There's a lot of versions of this online. You can Google this or YouTube it. Some people call it the 4 day cash machine. Some people call it the 4 Day Sale. But basically it's an email sequence over 4 days making the same offer. And this is pretty straightforward. You're just emailing your list of existing customers with an offer that is up their alley. Now some people might have bought that offer before. That's okay. May want to exclude them from getting these emails. But those who haven't bought it might be interested. Fastest, easiest way if your list is big enough, this probably will solve your problem in a matter of a few days. Now, if you don't have an existing list of customers or you don't have one that's big enough for you to cover the amount of sales you need, then the next best thing is leveraging somebody else's audience, partnering up with somebody, finding somebody who has an email list or an audience that would be interested in your product or service. Reach out to them. This is why relationships are so important. Because with partnerships, you can say, hey, I want to get in front of a new audience and make them an offer. Whether you want to run a webinar for them or they just send an email promoting your product or service and you can cut a deal with them, whether you do the same for them, or maybe you do some sort of affiliate commission or referral fee for every sale. Now, this is not the quickest way emailing your existing list is the quickest way, because it's just a matter of how long you can take to craft an email sequence. This is an afternoon, right? But partnerships take time because you got to manage calendars. Maybe somebody's not free tomorrow or the next day. The next time they're free is a month from now. This is why you should always have partnerships on your calendar. You should always have them all lined up in advance so you're constantly doing partnerships. But if you haven't done this yet, this is still a great option and some people might be able to squeeze you in next week to do this partnership. Of course, if this is a webinar, you're going to need a little bit more time and a little bit more lead time if this is an email campaign to their list, not as much lead time required. Another option is emailing your leads the offer. Now, I put these in a particular order. Easiest, fastest and most effective is, number one, emailing your existing customers or past customers. Number two, partnering with an audience that you want to get in front of. These are fresh leads people have never heard of you, never heard of your offer, haven't been fatigued, so it's going to be effective. And then number three, your leads. Your leads probably are aware of your products and services, probably have seen a couple of your offers and said no because they're not customers yet. But if the offer is right and it just might be timing, they'll be willing to buy right now. It's right time for them and they just needed a reason to buy because of this promotion, this sale. And really if you want to have an impactful effect on your campaign, you're going to want to make sure your offer is solid, meaning it's compelling. It solves the whole problem completely, it's a no brainer and gives them what they're looking for. So emailing your leads is a great way for you to tap into some people that may be ready to buy right now. So sometimes we don't recognize the fact that we don't offer our leads an opportunity to buy enough. Your lease should be given an offer minimum once a month. So if you haven't given them an offer recently, it's time to do it now so that you can make that revenue notice with all these options. Whether you're emailing your own customers or you're partnering with somebody to promote you to their audience, or you're emailing your leads, these are all warm contacts. People that are familiar with a brand, familiar with the person that's emailing them or messaging them or running the webinar. These are not cold leads. Cold leads are more long term, meaning if you're going to run some ads to get them to go to your website to get them through your opt in, this is going to take some time for them to get warmed up. But depending on what you mean by asap, this might be an option for you. Depending on your deal size, your funnel and how good your nurture sequence is, you might be able to convert people within a month. In my experience with, you know, paid advertising really going through the roof, the best bang for buck across a lot of industries has been Facebook lead ads where they capture the lead right on Facebook. Now remember, these leads are still cold. You need to warm them up in your email sequences in your marketing before you start making offers. So they are educated on what you offer and the value and why they want to buy from you. But if you got a month, you got five weeks, six weeks, you could probably warm them up in that time to get them to a point where they're ready to buy.