EP278: 60% Failure Rate & The Mendoza Line (Weekly Compass)

The Pond Digger Podcast

Eric explores the 60/40 principle in business, highlighting that a 60% failure rate in areas like sales calls or email open rates can still represent significant success when viewed through the lens of a low batting average in baseball or email marketing metrics. The discussion also emphasizes the importance of tracking numbers and constantly evaluating processes like pricing and sales training, with participants expressing a renewed commitment to consistent role-playing and sales practice for continued growth.

Key Takeaways:

• Always take time to recognize your wins, including the micro wins, and don't take simple things for granted.
• Embrace the 60/40 principle, understanding that a failure rate, especially in sales or marketing, can sometimes indicate success or proper pricing.
• Commit to consistent and immersive sales training and role-playing to significantly improve your skills, rather than just doing occasional sessions.
• Track key numbers in your business, such as sales closing rates and email open rates, to understand performance and identify areas for improvement.
• Actively maintain contact with your past customers through methods like email and text campaigns to revive old leads and generate new business.

Resources:

• Contractor Sales Secrets: ContractorSalesSecrets.com
• Fitz Fish Ponds: Koi Trips
• Book A Call With Triplett: Call with Triplett
• The Pond Digger: https://theponddigger.com/
• LA Pet Fair: https://www.lapetfair.com/
• Atlantic-Oase: https://www.atlantic-oase.com/
• Helix Pond Filtration: http://helixpondfiltration.com/
• TWT Contractor Circle (Facebook Group): TWT Contractor Circle
• TWT Contractor Power Circle (Facebook Group): TWT Contractor Power Circle
• The Pond Digger Instagram: Instagram
• The Pond Digger Facebook: Facebook
• Train With Triplett TikTok: TikTok