What if I told you there was an exact formula to double your sales—all while working less than you do right now? Sadly, most salespeople just wing the math, trying to get themselves to increase sales in a roundabout way. This can lead to very disappointing results.
But a few years ago, I actually developed an exact mathematical formula to double sales. It involves three components to increase sales—and combining all of them together creates multiplicative growth. I call it The 2X Formula.
What’s amazing about this formula is that it lays out a strategy to blow up your sales without making you work harder than you do right now. It’s all about working smarter to increase your sales.
In this video, I’m going to show you the exact formula to double your sales while working less than you do now. Check it out:
Double Your Sales Video Summary
If you’re looking to double your sales, you might consider three ways to do so. The first way to double your sales is to increase your number of customers by prospecting more and improving your closing ratio. The second way to double your sales is to double your average sale size—you can do this by increasing your price or adding more into your average sale. The third way to double your sale size is to double your frequency of purchase, getting existing or new customers to buy more often from you.
It’s pretty difficult to double your sales with just one of these three techniques, but by pulling them together, you can double your sales without working much harder than you do right now. This is what we call the 2X Formula, and it works like this: In order to double your sales, you’ll start by increasing your number of customers by 26%. Find this new number by multiplying your current number of customers by 1.26. Next, you’ll increase your average sale size by 26%—by, again, multiplying your current sale size by 1.26. Finally, you’ll increase your sales frequency by 26%, multiplying by 1.26.
By increasing each of these three components by just 26%,
you’ll effectively double your sales. Before you freak out over the math, let’s look at an example.
Denise is a client of mine who owned a marketing business, and I’m going to show you how we applied this formula to her business to help her actually double her sales.
Denise’s business broke down quite simply. She had about 1,000 customers, so she was selling mostly to small businesses. Her average sale size was pretty close to $1,000, and her customers were buying from her once a year on average. This was a pretty decent business, but at the time she wasn’t really earning that much profit. You can multiply those three numbers together to see she was doing $1 million in revenues, but her profit was considerably lower than that—she was just kind of getting by.
It would be really difficult for Denise to double her number of customers, average sale size, or frequency of purchase, so instead, we applied the 2X Formula. First, we increased her number of customers by 26%—from 1,000 customers to 1,260 customers. This is a much more reasonable goal than going from 1,000 to 2,000 customers. Next, we used a few sales strategies to increase her average sale size by 26%, taking her from $1,000 to $1,260. Finally, we increased her sales frequency to 1.26 purchases per year by putting packages and programs in place to encourage her customers to purchase every 9.5 months rather than once a year.
Once we applied the 2X Formula for how to double your sales, we multiplied her new number of customers, average sale size, and sales frequency together to reveal her new annual revenues—$2 million. That’s double her sales from the previous year! No matter how much you’re doing in sales right now, you can double your sales by following this very simple formula. By increasing each of these three areas by just 26%—which is very doable and attainable—you can double your sales without doubling your efforts. It’s as simple as it sounds.
So there you have it. Now you know The Exact Formula to Double Your Sales While Working Less Than You Do Now. I want to hear from you. Have you ever used this approach before? If so, what was the result? Be sure to share below in the comments section. Ill respond to every comment I possibly can.
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About the Author Marc Wayshak
Marc is is the best-selling author of three books on sales and leadership, including the highly acclaimed titles Game Plan Selling, The High-Velocity Sales Organization and his forthcoming book, Sales Conversations, Mastered.
Marc is a contributor to Inc, HubSpot, Fast Company, Entrepreneur Magazine, and Huffington Post Business. He also hosts a popular YouTube channel on sales strategy with over 103,000 subscribers.
Marc helps thousands of people his data-driven, science-based approach to selling that utilizes all the best tools available to sales organizations today.