Golf Math: How Much Less Would It Cost To Do Business On The Links?

Yes, you read it right… LESS!

My favorite expression I hear often and love to debunk is when a business owner tells me they want to golf more but it’s too expensive. My second favorite is when they say they don’t have time. I’ve helped hundreds of business owners grow their business and it just isn’t true – unless, of course, you’re a complete idiot and after 4 hours with you no one ever wants to see you again.

As a matter of fact, I would challenge anyone to prove that they have a better conversion rate anywhere else.

In corporate America, I can leverage similar examples around building teamwork, making critical decisions, getting key decisions turned in your favor and even raises.

Being in a beautiful environment where you can’t rush, there’s lots of downtime to be human, and you have people’s undivided attention is a gift. It helps us decide if this relationship is a good fit for you or not. Rather than me spewing hundreds of statistics about how you’ll earn more – do a simple Google search.

Despite all of the research done on the topic – there are those who still don’t believe. I’d like to fix that today.

Let’s look at your last sale. Chances are you probably spent time and money trying to find a lead that was right for you. Lead and brand marketing? Networking to get to the person you want to know? Phone calls and pre-meetings before you got actual time with them. If you use Gary Vaynerchuk’s boxing metaphor, minimally, it’s a ‘JAB, JAB, JAB, Right Hook.’ (For those who don’t know this strategy, Vaynerchuk says you have to give 3 times before you can ask for the sale.) All that giving takes time. Why do you have to give? Relationships fuel sales and it takes time to build relationships.

I might argue that in 18 holes you can build 3 solid new relationships at one time. Seems like a productive use of time – nevermind being a better way to spend everyone’s afternoon.

So let’s use a real example:

Bob is a client. Bob spent $23,500 on marketing last year and acquired 14 new clients. This did not include travel, entertainment expenses or time spent. On average, this averaged about $950 per client. This brought his average client acquisition cost to $2,629 and doesn’t account for the time spent romancing prospective clients and managing his sales funnel.

Bob and I looked at his acquisition costs together and asked, “What if he had leveraged Network&Golf?” His first response was, “Well then I’d get back out in the field and sell, too!”

We did a little golf math and he strongly believed he could cut his acquisition cost in half! Bob also believed that they would not have wasted their time with a couple of clients who they ended up losing money on had they played golf with them first.

It’s hard to fake it for four hours.

Turns out, by the way, when we asked his 3 salesmen, the one with the best results always golfed with his clients and accounted for half of the company sales and had the lowest expenses.

Here’s Bob’s math:

Today’s COA (Cost Of Acquisition): $2,629/per client

After looking at his top salesman’s results and the Network & Golf program, Bob believes he can:

  • Cut his marketing costs by 60%
  • Add 10% of what he saved to his travel/entertaining budget to now have meaningful conversations with twice as many clients each year more simply
  • Have a happier team who produces even better results.

Bob also decided he would leverage Network & Golf internally to plan team building events and hold monthly business statuses with his sales team. Our favorite line?

I bet we start seeing leads come to us just because some of these guys know we’re going to bring them out on the links to talk business. Everyone needs an excuse to golf more!

Based on industry sales and marketing statistics, this quick chart will show you how golf can actually save you time as well.

It shows how much time the average sales rep spends from acquisition to close (of course there are exceptions, but this is based on national averages.) Think of all the networking meetings and handshakes. Add in phone calls, coffee meetings (and travel back and forth) and trips to their office. Now compare that to using Network&Golf to capture a meeting and then having a relaxing 18 with 3 potential clients at a time:

The math adds up. Doing business on the links is not a luxury, it’s a savvy strategy to build better relationships and grow your business.

Share your success story with us!

 

Relationship Sales

770 marketing images daily. 5 new contacts daily. 10 sales calls daily. 300 emails daily. 2,500 new content posts on your area of expertise daily (this one is totally a guess.)

How do you stand out?

The holy grail of any sales person is the ability to get the appointment that reaps time to build a relationship with a prospective client. Perhaps you’ll meet 3-4 times prior to closing a deal; maybe more. If you’re lucky, after a couple meetings you’ll get some time on the golf course with them. Smart business leaders know that 4 hours on the links proves to be just as valuable for the client as it is for the salesman. Several studies have actually verified that business owners whom golf earn 17% more than those who don’t while 84% of executives surveyed found golf to be an important currency in the business world. It simply gets you where you need to be, faster.

So what if you don’t golf?

Well, it’s time to learn. NetworkAndGolf (www.NetworkAndGolf.com) will be creating handicap specific networking events starting spring of 2017. You can learn the sport with other business leaders while you get to grow your business. Visit their site to get an early invitation.

And if you do golf?

Join golf networking groups or leverage NetworkAndGolf (www.NetworkAndGolf.com) to meet the people you want (and need) to meet directly on the links. Stop wasting time looking for appointments. In late spring you’ll be able to invite others to golf and set up tee times for both of you in seconds. You’ll be able to see whose golfing and join foursomes while you travel or at home with other business golfers looking to network.

Here are some other steps to help you build better relationships and stand out from your competition:

  1. Do your homework

Do you pick up the phone and call someone and have nothing to talk about besides getting an appointment or selling your wares? This happens to me 10 times a day from solicitors. When I pick up a phone and someone has done his homework (i.e. has read things I’ve posted, knows about my companies, has checked out my Facebook page and has taken a genuine interest…) that’s a call that’s easier to take.

2. Appropriately target your audience first.

While I was in temporary housing and looking for a new home, I started becoming aware of the irrelevant phone calls and email I received. I received calls from contractors, solar panel and electric companies, landscaping companies and more. In several cases, I asked if they knew my current address (an apartment complex), which they did. Why I wondered, would they be wasting their time with me?

What do you do when you receive irrelevant (read “annoying”) calls or emails? If you’re like me, you permanently block them with your phone or spam filter – never giving them an opportunity to spam or call you again.

What if those contractors were instead reaching out to build relationships with realtors who were selling outdated homes? They could then become part of the sale process – a far better way to reach me.

3. Don’t sell!

Dear Lord, don’t sell! Build. Build relationships, connections, rapport, laugh… going in for the sale will NOT build a relationship. Yes, there are some exceptions. Every time you go for the sale first, you risk the relationship forever. Take your time. Once the rapport is built, you’ll be surprised how easily the sale can come.

84% of sales are built on trust. -Gallup poll 2014

So please, please, don’t cheat on the golf course.

Colleen Ferrary is the founder of Small Business USA and CEO and Founder of NetworkAndGolf. She has been helping businesses grow for 30 years.

Selecting the Right Golf Clubs for Your Game

Choosing the Right Clubs for your golf game

Selecting the Right Golf Clubs to Drive Your Game

Choosing the Right Clubs for your golf gameGolf is a gentleman’s game. Stalwarts of the game usually mull over which club to choose. A golf club can make or mar your game. You should be well informed before buying your golf clubs. Here are a few guidelines for choosing the apt club for a great game.

Golf rules allow you to carry a maximum of 14 clubs. They are

  • Driver
  • Fairway Wood
  • Hybrid
  • Iron Set (4 – PW, AW or SW)
  • Wedge (SW and/or LW)
  • Putter

The 4 principal categories of golf clubs are woods, irons, wedges, and putters. These have several components common to all the golf clubs available in the market today. They are the grip, shaft, hosel and club head.

Firstly, you need to decide between an expensive but lighter graphite shaft and a steel shaft. Graphite shaft will allow greater swing and greater speed to increase the distance, especially if you are a beginner. Steel shaft is for accomplished players and they help you to be accurate. Professional players love the feel of steel more than graphite.

Secondly, you have to choose from five different types of flexes of shafts. The range is from ladies shaft with the most flexibility to extra stiff shafts that barely bend. When in doubt, you can consult a professional fitter who can help determine the speed of your club head. Alternately, you can buy one by judging how far the ball travels after you hit it with a driver.

The Newest Clubs From Callaway Are Here! Be The First To Shop The Great Big Bertha & MD3 Wedges at Golfsmith.com!

Thirdly, you should choose a club head made up of titanium or steel. Titanium is more expensive than steel and lighter. With less weight, the drivers’ club heads can have larger surface which will make it difficult to mishit the ball. Graphite shafts and Titanium heads are the best combination for a golpher.

golf clubs on greenFinally, you have to combine your woods, clubs, irons and wedges to make the most of your game. Most people replace irons by hybrids because it is easy. There are many kinds of wedges to choose from. The gap wedge or the approach wedge, the sand wedge, pitching wedge and the lob wedge are the commonest. The putter is the most important club in any bag. There are two types of putters 1. Blade putter and 2.Mallet putter.

Which club should you use?

A driver can be used to swing a ball for 230 yards, 3 wood – 210 yards, 2-iron – 190 yards, 3-iron – 180 yards, 4-iron – 170 yards, 5-iron – 160 yards, 6-iron – 150 yards, 7-iron – 140 yards, 8-iron – 130 yards, 9-iron – 120 yards, a pitching wedge – 110 yards, a sand wedge – 90 yards and a lob wedge – 65 yards.

 Care for your clubs.

If you look after your clubs, they will look good and last long.

Always clean the club face with a towel after each shot.

Use a tee to clean the grooves.

Clean your grips with lukewarm water and soap.

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New Callaway X2 Hot Woods & Irons Now Available at Golfsmith.com!