E149: Traction Part 4 – One Year Plan and Quarterly RocksMay 28, 2018 in Ecom-Crew-Podcast
This is the fourth and final episode of the series I’m doing on the book Traction. In Episode 1 we discussed setting the company’s core values and communicating them to the entire team. We followed that with Episode 2, where we talked about defining the company’s core focus and setting the company’s 10-year goal. Since the 10-year goal is ideally a BHAG (Big, Hairy, Audacious Goal), we’d need to break it down into a more achievable 3-year goal, which is the topic for Episode 3. We close everything by further breaking down the 3-year goal to a 1-year plan and defining quarterly rocks, which is what we’ll talk about in this episode.
Obviously, your one-year plan needs to be in harmony with your bigger goals. For example, one of your 3-year goals is to develop a total of 100 new products and in order for us to achieve that, we set to develop 50 new products as one of our 1-year goals. We know how hard it is to constantly develop new products, so developing 50 this year will give us a running start for the following years.
In order to make sure every person in the team is working towards the company’s goals, you need to set quarterly “rocks”. Your quarterly rocks determine what each employee’s priorities are and govern where they spend their time and effort on. These are specific action items for each of your employees to make sure they all work towards the company’s goals.
This episode also covers the following:
- Setting one-year goals (our company has 8 goals for the year)
- Identifying and setting quarterly rocks
- Examples of quarterly rocks and individual goals of some of our employees
To end this series on Traction, it’s important to point out the ultimate purpose of the steps lined out here and in the previous episodes. In many companies only C-level employees know what “the plan” is, leaving all the other employees unaware of where to actually focus on, apart from what’s currently on their plate. Letting them know exactly where the company is heading and the role they have to play to get the company there makes them accountable, proactive, and empowered to do their part.
Traction: Get a Grip on Your Business (Amazon afiliate link)
E138: Traction Part 1 – Company Core Values
E140: Traction Part 2 – Company Core Focus and 10 Year Goal
E143: Traction Part 3 – Marketing Strategy and 3-Year Plan
E147: Amazon PPC Strategy – Step by Step Guide on Saving Thousands of Dollars
Thanks for listening! Leave a comment down below if you have any questions about this episode. Until the next one, happy selling!
Full Audio Transcript
Mike: This is Mike, and welcome to episode number 149 of the EcomCrew Podcast. You can go to EcomCrew.com/149 to get to the show notes for this episode. And today I’m going to continue on our progress here with Traction, part four of our series on Traction. If you haven’t heard these episodes before, if you’re new to EcomCrew, please go back and listen episode 138, 140, and 143 for parts one, two, and three on Traction.
This isn’t something that we typically do, having a multi-part series on something. But it’s a big topic that’s too much to tackle in just one part. So we’re at part four here which is going to be our one year plan and our quarterly rocks. We’re going to dig right into that right after this announcement. Go to EcomCrew.com/149 to get to the show notes for this episode. And right after the break here, we’re going to get right into it.
Hey everyone, welcome back to part four here on Traction, the book that I’ve been talking a lot about lately. A lot of people in my circle I’ve been talking about lately, the book that has revolutionized our business. I’m really proud of what we’ve been able to do. After reading this book it’s a completely different place around here. And today we’re going to dig into our one year plan and then our quarterly rocks.
So let’s dig right into it. And as a reminder just real quick, you can go to episode 138, 140, and 143 for parts one, two, and three. So our one year plan, let’s talk about what that is and how that kind of comes to fruition and why it’s important. And it all stems off of the three year plan which was episode number 143.
So in that episode we’re talking about our three year timeline. What is it we want to accomplish, what we feel that we can accomplish, big goals, the BHAGs, the big hairy audacious goals over the next three years, what we think we can realistically accomplish over three years. And as an example here, goal number one for the one year plan is to develop 50 new products while our three year goal is to develop 100 new products.
So we sat down and said, okay, well we need to be able to develop 100 products over the next three years. And the reason it’s 50 for this year and 25 each of the next two years is we’re trying to front load a lot of this. We’re looking to grow at 100% this year, and next year grow at a slower rate so we wouldn’t need to develop as many new products. Plus we also realize that developing new products at this pace, you sacrifice a little bit on quality number one.
Number two the idea has become harder and harder every time you launch a new product. You cherry pick the best ideas and the easiest things to develop first and it gets harder and harder to come up with new ideas, things that you can innovate with, things you can differentiate with, things you can bundle with and things of that nature, things that we talk about in our courses like on how to have a really good brand and product line. That becomes more and more difficult as time goes on.
So we do think that if we develop fewer, better quality products over the next couple of years we’ll be in better shape. But we do have the need to develop 50 products this year to hit our overall goal for the year, our sales goal. So that’s why it’s 50 and it stems right out of the three year plan. So some of the things that are in the three year plan like launch all viable products in our catalog on Amazon Canada, UK and EU, well that’s a part of our three year plan, but that’s also something that we just want to come completely accomplish in this year.
So the reason for this is I think I’ve talked about this on other podcast before. It’s really important to sell more of what you’ve already got developed, and focus less on launching new products. If you have the ability to do one or the other so you can go down only one path, selling more of the same product is a much better path to be on than developing another new product to be able to meet your sales goal.
Now of course for us we have to be able to do things concurrently and think multi-dimensionally and play 3D chess as they say. So we’re going down both paths but we’re putting a lot of focus on trying to sell more of the same product and a part of that is international expansion. So we can put our products in Amazon Canada, Amazon UK, Amazon EU, eventually Amazon Australia. It’s the same photography and the same descriptions that we’ve written, and the same product.
We just got on the purchase order put a bigger number on there. It doesn’t take any more time to type in a bigger number on a PO. It’s much easier to do that than it is to develop a whole brand new product. And at the same time you get efficiencies and economies of scale that you don’t get by launching new products, things like hey Mr. Manufacturer I’m now ordering 10,000 of these widgets a month from you instead of 5,000, I want to better price. These are things you can do by ordering more of the same thing, something that we’re really going to be focusing on.
So this year we’re launching all viable products on Amazon Canada, UK, and the European Union and eventually will get to Australia. And the idea here is that we hope to double our business basically on Amazon at least overall by adding all this up, or at least do at least 50% more through selling through Canada, UK, and EU. We think we can get even to 100% by basically doubling our business by having these channels and letting them come to fruition.
It will take some time and quite frankly as I record this episode I can tell you it’s been a little bit harder than we thought in the UK. Canada is pretty much on pace and doing very well. But definitely long term it’s going to be way easier for us to sell stuff there than it is to deal with selling more stuff or more products here. So that’s our second goal here for the year and we’re well on track for this already at the recording of this podcast, something I’ll talk more about as we go through our quarterly updates, which I’ve been doing for you guys.
So, the next one here is to optimize all listings on Amazon to increase sales by 50%. I’ve talked a great length about this. This is a massive project. It’s been a bigger project than I ever thought it would be. When you have the number of projects that we have and we’re trying to create images at the quality that we’re trying to do, it takes a lot of time. And we have multiple full time people working on this project and it’s still not happening at the speed that I really would like it to. But it certainly will be done by the end of the year.
And I think that we can get an uplift of at least 50% sales by just having better listings, because what ends up happening is when you have a better listing, when you have really top notch photography and infographics again the things that we talk about in our Amazon launch course, in the templates that we have there for that like really help with this, you are going to have a better conversion rate. So if your listing converts at 15% instead of 10%, you will rank higher this bottom line.
Amazon is a sales velocity conversion rate ranking engine. So I mean the better your listing converts, the higher it’s going to put placement for it. We have listings that convert at 40%, it’s crazy. I’m not even kidding, four, zero percent. Most of our listings are now converting over 20%, at least the ones that we’ve revised. So that’s something you can go back and look at your listings.
If you’re converting at a lower rate, you probably aren’t putting enough effort into the photography, or your listing isn’t geared toward your audience in the right way, or you’re doing something wrong because the conversion rates on Amazon are just so darn high that we feel like if we’re say 20% on a listing that we still have a lot of work left to do. And even if it’s above 20% we feel like we can improve a lot of times.
But again this goes back to what I was saying before; it’s easier for us to put the effort into creating better listings. As hard as that might be, it’s still a lot less work than creating brand new products from scratch. And from an efficiency standpoint, again it’s easier for us to just order more of that same product than go out and develop a whole new product from a different manufacturer that has to be shipped in a different container, or figure out a way to consolidate that. That’s much more work.
And when you’re doing things at scale the efficiencies are what will matter especially in a business like this that’s a lower margin business. This is where all the money is really to be made is in these efficiencies. So this is something we’re going to put a lot of work into in 2018.
Our fourth goal here is to optimize Amazon PPC for every skew to achieve our target ACOS and lower our ACOS and increase our profit margin while not decreasing our sales with PPC. I just did a PPC episode about this and we were well on track for this for this year. We’ve lowered our PPC by – our spend by $6,000 a month already this year with zero decrease in sales. Like within $100 our sales are the same on PPC sales, a couple of hundred dollars and our spend is down significantly, and we’re making an additional $6,000 a month off of PPC that we weren’t making before, pretty significant.
So this is the fourth goal for the year. It’s a high level goal for our company. The fifth goal here is to implement a bonus program and other parks for our company. This is something, again it’s part of our three year plan. This all trickles down in the things that we want to get done. We can’t do everything in year one. But we are going to implement a bonus program which we’ve already announced to our entire company, which is a 10% bonus program that’s divided up into five chunks quarterly.
So if someone is making let’s say $500 a month, then that’s $6,000 for the year they’re going to have $600 for the year total bonus pool. It will be $150 per quarter, and whatever 150 divided by five is. I’m trying to do math on the fly on the podcast. I guess 30 would be what their quarterly bonus would be per goal per $500 of salary that they earn per month. So what we do is we have one overall corporate goal of a sales goal for the company. So everyone is on the same page and is rooting for us to do well sales wise.
And the other four goals are things that we hand out that match up to our quarterly goals that we can assign to each employee to get done to make sure our quarterly goals get done. And we’ll talk about the quarterly goals right after our yearly goals here. So people are very excited about this and are taking it very seriously because they want to earn their bonus, and they obviously want to go and tell their coworkers that they earned their bonus. It’s a way for them all to compete, but also gets our interests aligned.
These are our big things that we want to get done for the quarter. We want you focused on them as well. Now this doesn’t preclude you from having to do your normal job, but these are the important things that we also want you to focus above and beyond what you’re doing. And that’s something that we implemented already this year so we’re on track for that. And then other perks that we’ve done, we did a 50/50 match on our health care.
You remember one of our three year goals is to provide complete health care for everybody, something we can’t quite do yet. But we did add a 50/50 match. So people are able to go out and get insurance however they want through any exchange or program it doesn’t make a difference. And whatever bill they bring us, we’ll pay half of it. And that covers them and their immediate families, so their spouse and children as well. It doesn’t include grandparents or cousins or brothers or sisters and things like that, but will cover immediate family. So their health care burden is a lot less than it would be if we didn’t have that perk.
And there’s other things that we’ve done, our vacation policy and some other things that we’ve added that we’ve already added this year. And we’ll continue to work on doing things over the next three years to get health care completely paid for and then add in the other benefits. But you can see how this is kind of a stepping stone to getting our full three year plan in place.
The next one here is to create and implement a quarterly survey with the goal of being rated a nine or higher in three core areas. This is something we need to actually get out because we’ve talked about this now. We want to see how we’re rated as a place to work. But it’s really important to me that people enjoy where they work.
I mean obviously it’s important to me that they come and do a good job and they produce good results, and they help us achieve our goals, and obviously make money, that at the end of day it’s what a business’s goals are. But we can do that in an environment where people actually enjoy it. We’re getting just as much out of them being here as they do. And most companies can care less about that but this is something that makes us unique. It’s very important to me.
Yeah at some point we have to take some of our profits and put them in the benefits and doing some other things for our employees. Actually the day that I’m recording this podcast is one of our monthly outings that we do which is one of our employee benefits. So we went out and did a monthly outing today which includes lunch on us at a nice restaurant. And then our monthly outing today was to go on a five mile hike. There’s lots of amazing hiking around San Diego. And then everybody went home and I came back here, I’m recording this podcast.
It’s just one small example of some of the things that we do for our employees. And the hope is obviously that this makes it an environment where they want to be that makes them happy and then obviously they produce good results for us as well. But I think anyone listening this podcast, 99% of people out there either have a job or once had a job. And if you once had a job, you probably worked at a job that you didn’t feel appreciated or enjoy at some point in your life.
And I just don’t want people thinking that of me, and my company and what we do here. I want people to legitimately be able to get up in the morning and think, man I’m looking forward to going to work as much as you can look forward to going to work. I’m sure most people would rather be at the beach every day, day in day out until it gets boring because I’ve been there, it does get boring. But you want they are work and they have to go through being at work and being an employee, we want them to enjoy it and legitimately enjoy it and feel like they’re furthering their career.
And once they part here someday whether — everything comes to an end no matter what. No matter what it is everything comes to an end. We want them to look back years later and think, man those years that I was at Terran; that was like the best years of my life. I really enjoyed being at that company. That’s our goal. So that’s what we’re looking to achieve over the next three years. And a part of that now over the next one year is to start the survey and see what we’re doing and get feedback on things we can do better to continue to be on that goal.
So number seven here is to attain a 92% or higher customer satisfaction rating. Our goal would be to make that higher over three years. We’re already at a high rating. I think we’re at 90%. So we’re looking to inch that up to 92% this year just by making our customer service better. So we’ve gone through training with our employees on how to do that. And Mia sits down with employees on a monthly basis, and talks about specific examples of things people can be doing better, and how they can respond differently, and have more empathy with the customer. And that’s something that’s slowly but surely increasing our customer rating which is really important to me.
Again not only do I want our employees to come to work and enjoy what they’re doing and be happy, but I want our customers to feel the same way, whether it’s someone buying something from ColorIt or Tactical or WildBaby or the same thing with our courses with EcomCrew like the same principle applies. We want people to feel like they got a good value out of what they’ve purchased from us and not feel like they got scammed or they hate it, or they would not want to recommend us.
Our goal is to legitimately have people that are really enjoying our products and services. And this is something that we’ve made a goal for our employees to the point where like their bonus depends on making sure that people get the service that they deserve. And then our last one here is to hire four people in Escondido and eight to ten people in the Philippines. We’re well in the way of doing that.
This isn’t necessary a goal. Some of the things you put on this is what you think your company is going to look like as much as a goal it’ll be kind of what your landscape is for your company. We think that we’re going to need four starting in January, and we’ve already hired three people this year here. So we probably have one more hire to make in Escondido in California and we’ve hired several people already in the Philippines. We’re at 13 full time people as of recording this podcast.
I’m not sure how many that is for the year, but I know it’s at least five. So we probably have something like three people left to hire there this year at a minimum to kind of keep pace with our growth and the things that we’re doing here. So those are our goals for the year. And it comes with a revenue target of 9.8 million by the end of the year. That’s what we’re targeting on doing and I’ll talk more about that.
We were able to hit our revenue goal for the first quarter. I will give you a little bit of a preview that we are not on track for that on our second quarter forecast which I’ll get into detail when we have that episode. We are definitely going to fall a little short. There’s been some issues with some stock out items and also Amazon in their infinite wisdom flagging things for hazardous materials that aren’t really hazardous and then you’re out of stock, or the thing isn’t for sale for six to eight weeks.
That can really screw up your forecast when it happens to your second and third best selling products, life from an Amazon seller I guess. So those are things we’ll talk about in our quarterly review. But these are our one year goals. And what I’m going to do is take a quick break here and then I’m going to get into the quarterly rocks.
Did you know that EcomCrew has a new program called EcomCrew Premium. You can find at EcomCrew.com/premium. And what we’ve done is we’ve combined all of our courses that we’ve done to this point and all the courses we’re going to release in the future and put them under one umbrella called EcomCrew Premium. It’s a monthly or yearly subscription that’s one fee that gets you access to courses that we’ve done and will ever do.
We’re also going to have twice monthly webinars just for EcomCrew Premium listeners. We’re going to be talking about exact products and ads that we’ve launched, things that we’ll never talk about publicly. But to our subscribers, they’ll see exactly what’s going on behind the scenes both in my business and in Dave’s business. And finally we’ll have a monthly Q&A that will be available to all of our members as well.
And actually there is one other thing we want to mention. You get full access to both Dave and I through e-mail, through a private email address that we set up just for people that are members of EcomCrew Premium all for one low price. So just go to EcomCrew.com/premium to sign up today, and now on with the show.
All right, let’s get into our quarterly rocks now. And this is going to be for our second quarter since I’m putting this episode out in the second quarter. And this is the first quarter where we also had quarterly goals for each individual employee. And I’m going to talk about all that as well here to wrap up this episode and wrap up the whole series on Traction. So this is actually really exciting, and you get to see how this all comes together.
So what we have here now is a quarterly goal of 1.8 million dollars in revenue for the quarter. And we broke down all of the product launches that we need to do. So remember that one of the things that we have is to launch 50 products in 2018. So I have here and I’m not going to disclose the exact products here that were in development on, but there are ten products that are already in the final stages that we were going to order for this quarter, the things we’re going to actually launch in this quarter.
And then we have must develop products is eleven on this list, the individual products and this covers all of our brands. We’re trying to launch products for Tactical and for WildBaby and for ColorIt and IceWraps in a pretty consistent basis throughout the year, and that includes all those products. So that gets us to 21 products just for that. And then we have a note here that this puts us at that total of 26 products for the year.
And we have another 30 products basically to go by the end of the year to get to our goal. And then we have a bunch of other opportunities here that we have on our list of things that we’re looking at launching. There’s eight more things on this list. So that covers that goal. So we know now as a company these are the things that we need to do, the exact products that we need to launch, and things we need to do to further our cause for the yearly goal for that product.
And then on the international Amazon front, we have replenish the United Kingdom and add all ColorIt products for the UK. So what that basically means to replenish part of it is we already had some products in the UK. So we had to send a replenishment order there, and now we’re adding all of our ColorIt products as well to the UK in this quarter. Then we have, replenish and optimize Canada. So it’s the same thing, we want to make sure that we get all the rest off up to Canada and we start optimizing our listings for Canada, and optimize the supply chain. That’s the goal for this quarter for Canada.
We’re a little bit ahead of the game on Canada because the stuff gets there much quicker and we also started there sooner. So we have a little bit different goals for Canada than we do for the UK. But we also want to make sure that all products are available in Canada, all the viable products get there by the end of the second quarter which I know we are on track to do. That’s actually all back in the warehouse right now and getting ready to get picked up next week. And we’ll have every product up in Canada and our sales there are doing quite well.
We are excited about the prospects for Canada. Not only are the sales doing well, but the PPC spend there, the ACOS is way under ten. Things seem to be way easier to get done in Canada than they are anywhere else. We want to update all listings for products that are for sale for the international listings. So when you create listings, there’s a lot of times that listings are already there, either someone else created them or Amazon has created them.
We want to go through and optimize all of our listings using the same title, bullet points and images for our international listings that we have on our domestic listings. And that’s a lot easier said than done, because we go to modify listings, a lot of times Amazon gives you a hard time about it and it’s not as easy as you might think to get that stuff done. So it’s quite frustrating. We have someone assigned to do that.
And then for Amazon listings, we want to optimize 80 Amazon listings to include our high quality images and enhanced brand content. So we’re feverishly working on that right now to improve all of our Amazon listings as I talked about. This goes from our yearly goal, so we’re biting off a chunk of this. We want to do all of our listings and we are going to try to do 80 over this period. We also want to start split testing more our main images with Splitly.
We’ve done a lot of stuff with Splitly in the past but we want to do more of it and get very systematic about it. And we also want to add coupons, the new Amazon couponing feature to a bunch of listings to optimize our Amazon listings more. We’ve seen those coupons produce pretty interesting results for conversion rate even though there’s a cost to doing them both of a discount, and the cost. Amazon charges sixty cents to facilitate it. They’re hard to miss. They have that big orange banner that shows up on listings and they seem to help with the conversion rate.
The next thing is to continue to evaluate if there are things that we can be doing to improve our PPC and launch PPC for all products on international marketplaces. We had kind of a mist there. We didn’t get all of our products done for PPC internationally. So we’re going to be working on that making sure that that’s completely implemented. I actually just had a meeting with our PPC girl Laurd over in the Philippines recently about this.
And then we have some other stuff on our list, other clean and organize the warehouse and set up our photo studio, come up with a plan for some of our slow moving inventory and chop out kind of the 80/20 rule. We’re going to remove a bunch of skews in our catalog that are just don’t move very well. They do add up to some profit, but we want to take the overhead that is involved because every product has overhead whether you think about it or realize or not, just looking at it in your catalog takes up time. And this is something that we’re going to remove just to help streamline our inventory process, because again I think everything’s about efficiencies in this business.
We want to continue to build our WildBaby and Tactical email lists. This is something that we kind of lost our eye on the ball from a little bit because we cycled through our marketing person earlier this year. So like our old marketing person left us and we had to replace that and just it’s hard to get a new person up to speed quickly on every single thing. And this is one of things that we just weren’t working on a lot over the previous quarter, but we’re working on a lot this quarter to continue to build our lists for both WildBaby and Tactical.
It seems like ColorIt always gets all the love and that’s been fine. And then we want to set goals for each employee and implement their quarterly bonus program which I’ve already talked about, and we’ve done. So let’s talk about goals that we’ve set for each individual employee so you can get an idea on what that looks like. And I’m not going to go through every single goal because it’s just too long of a list, there’s too many employees. But I’ll go through a couple of people here so you can get an idea on exactly the goals that we’ve set for each employee.
So for instance for our marketing director, our marketing manager, her goals are to launch a new version of IceWraps.com. We want to redo that site and make sure that the conversion rate is higher than our current site. So the goal has to be very black and white. So she has to launch a new version of the site. We picked out a template and work with a developer and do this herself to launch a new version of IceWraps.com. And when she does it, the conversion rate needs to be higher than the current site.
So it’s not just a matter of putting something up there. The benchmark is that the conversion rate is higher and we look at our conversion rate up until through the beginning of the year to the date that we switched it, and then we look at what the conversion rate is after that, and that will be the test on whether she earns that bonus or not.
We want to audit our e-mail flows for ColorIt and IceWraps, and replace with updated flows for the following. We want to redo basically our abandoned cart, new customer welcome series, VIP customers, win back series, bought this and not bought that e-mails and send at least one newsletter per week for each brand. So we’re basically going back and auditing, and making sure all this stuff is in place and there isn’t conflicts that kind of end up happening over time with this stuff.
I mean after two, three years of doing email marketing and Facebook ads and leave magnets and free plus shipping offers and contests and giveaways, a lot of times the communications will overlap and conflict with each other. And this is something we want to go back and audit.
And this is a part of her goal. She can document that she’s added and make sure that there is an abandoned cart, new customers, welcome series, VIP customers, win back series, bought this not bought that for all of our brands, which I know isn’t fully in place for all of our brands because what ends up happening is we do it for ColorIt and then we forget about our red headed step children IceWraps, WildBaby and Tactical which is something that we’re working very diligently on fixing moving forward.
So some other goals for another employee here launch product listing ads for IceWraps. We’re having an agency do that now. We’re going to take that back in-house. ColorIt, we haven’t been doing them which is ridiculous. WildBaby and Survival Food, make sure that our ROI is at least 500% or more. We haven’t been doing YouTube remarketing videos as well as I want. So that’s a goal for him as well. Launch a new version of WildBaby.com.
We’re going to use the same theme as ColorIt, and they can work — the other marketing person can work with him side by side to just kind of use the same theme but just replace the images. But we want a new version of WildBaby up there. We’re going to get very serious about WildBaby throughout the rest of this year especially as we go on the holidays because we’ve really worked on our marketing, our message, our branding, and the product lineup that we have coming out versus something that we haven’t really worked on that as well as we should have before. And I’m excited about what we’re going to do with WildBaby there moving forward.
And then we also are going to go back and audit all of our freebie offers for ColorIt and revitalize them within an SEO focus. One thing that really frustrates me when we put these freebie offers out, we didn’t really focus on a SEO, put a good title on the page, and put all tags on all the images and make sure that we had a good H1 tag and a good description etc, and decent text on a page. These freebie offers are a good way to organically get people in our ecosphere and give us their email address, and get them pixelled. This is really important.
And then just to go over just some last goals here for like our supply chain, the supply chain person responsible for international shipments. So getting all of the international shipments replenished, adding ColorIt and IceWraps products in the UK, add all products to the UK and replenish inventory, and add WildBaby. So this is one goal for him. And again these are all black and white. You can’t have subjective goals. Either you get the stuff there or you don’t, either you meet your goals or you don’t.
Identify slow moving inventory. We want to remove 10 to 20% of our slowest moving skews. And we have a threshold here that we developed internally and we need to remove those skews from our website, liquidate them on eBay or someplace else, and not order them again. That’s our plan is to just get them out the door. And so that kind of gives you an idea.
Again, without running out of time here, individual goals that we’ve set. The important thing is for each individual employee is that they’re very definitive. They have to be black and white. You can’t give someone a goal that they you feel like they didn’t complete but they did. It’s launch this website and the conversion rate has to be higher than it was before, send down an e-mail with an open rate above X, Y, Z four times this month for a particular brand.
Whatever the goal is, it has to be again very black and white, very definitive. It’s important to make sure that you’re not going to have expectations that aren’t aligned with your employees. So make sure you do that. It’s really important. And man, with that we are at the end of our Traction series. It’s been a long road. For those that listened to all four episodes, I hope you enjoyed almost two hours of content here on the step by step things, real behind the scenes, under the hood stuff of our business that most people just don’t talk about for Traction.
So I feel like if you have a company with more than one employee, you should read this book and implement the stuff. Get these goals down on paper and start working through it. So, with that guys, we’re done with the Traction episode. Again you can go to EcomCrew.com/149 to get to the show notes for this episode.
EcomCrew.com/premium if you want to join us in our private area and then also be able to attend our bi-monthly webinars that are exclusive for premium members and get access to all of our training. And if not that’s cool too. We hope you enjoy the podcast and everything else that we do here. And until the next episode everybody, happy selling, and we’ll talk to you then.
Michael started his first business when he was 18 and is a serial entrepreneur. He got his start in the online world way back in 2004 as an affiliate marketer. From there he grew as an SEO expert and has transitioned into ecommerce, running several sites that bring in a total of 7-figures of revenue each year.