A lot of business owners and entrepreneurs are frustrated. Why are they frustrated? They aren’t getting the sales they want. Business is slow and they are desperate to increase revenues.
There are many debates and discussions on how to generate more sales, but there’s one way that can’t be ignored: Volume.
A great example of this is stores that sell items for $1.00, like the Dollar General, Dollar Tree and Family Dollar. The profit off one item sold for $1.00 is pretty small, but when they sell thousands or MILLIONS of items for that cheap price, that’s when things become interesting.
The key is volume, and a similar rationale applies to you and your business. Chances are your product or service costs more than $1.00. How volume would work for you is to have millions of people simply see what you have to offer.
Understanding The Law of Averages
This is where the law of averages comes into play. It is defined as “a particular outcome or event will over certain periods of time occur at a frequency that is similar to its probability.“
When applied to you and your business, it means the more people who see what you are selling, the more buyers there will be. For example:
If you reach 1,000,000 people, there’s a chance that just 1% of those people will do business with you. That doesn’t sound like much, but that translates to 10,000 people. The next question is how much is your product?
The more your product costs, the more money you will make. If 10,000 people buy your product or use your service, the dollar breakdown is as follows:
- $5? That would generate $5,000 in sales.
- $10? That’s $100,00 in sales.
- $30? That’s $30,000 in sales.
Thanks to the internet and the world wide web, these sales could occur within minutes or hours.
If the percentage of people who buy your product or service increases, that translates to more revenue as well. Here is a chart showing various numbers of people reached, sales conversions, price, and total sales:
|Number of |
|Percentage Converted |
|Total Number |
As you can see, the key is reaching as many people you can. The law of averages will take care of the rest. Remember: not everyone will like your product or service, and that’s ok. The people who aren’t interested in what you have to offer will keep scrolling. We just want to find those that will stop scrolling. It’s a numbers game.
The Power of the Internet
Thanks to the internet, reaching millions of people has never been easier. At any given moment, more than one BILLION people around the world can be online. Millions of people are looking at their cell phone as you read this. Why can’t they be looking at your product or service?
Having an online presence is mandatory. If you want to achieve greater sales going forward, you must build your online presence. Here are a few of the top social media platforms for selling and advertising:
In addition to your own website, each of these sites (and many others) allow you to interact with your followers as well as gain new ones. Both videos, pictures and written blog posts are great ways to connect with online users. Which site is best? Whichever one you like the best. Each have their own qualities and user characteristics.
In addition to you own social media sites, there are many great websites where you can sell products as well:
The beauty of using the internet is it takes advantage of passive income. While you are sleeping, people can be looking at your blog, website or videos. They can also be placing orders for your products on Amazon, while you sleep.
A great option would be to use multiple sites to increase your online reach and internet presence. For example, you may have a website or blog to sell your products, a YouTube channel where you discuss your products and services, and sell on Amazon as well.
Patience is Key
Not only is having patience key, so is being consistent. It took Amazon, ESPN, FedEx, Tesla Motors, and Turner Communications 5 long years to become profitable. Are you willing to work that long as well? Will you get discouraged and quit? Will you let friends and family convince you to quit?
Getting millions of people to view your website or see your products can take time, but it’s not impossible. As more people around the world shop online, achieving the sales you desire may be one viral video, blog post or Facebook share away!
Would you like to go to sleep and wake up to $50,000 in online sales? How about $250,000 in sales? Thanks to the internet and reaching millions of people around the world via their tablets and cellphones, that is a very real possibility for you. All you have to do is believe.
Setting lofty goals is essential for success. in 2021, step out of your comfort zone and make your dreams come true! Get more tips in my books in the Success Series, featuring Book 1: Success Principles 101: A Step By Step Guide to Setting and Achieving Goals. Available on amazon.