125 | A Case Study in Turning Around A Struggling Business with Drew Pearson
Have you ever struggled to make payroll? Have you ever stressed over taking your business to the next level? Well, most entrepreneurs have been there before; however, it does not have to be that way. Drew Pearson, Owner of Ninja Multimedia, shares his journey so that it may help you. Drew took a chance by attending an event with me. Afterward, we had one coaching session to fine-tune his strategy so that he could turn around his business. Drew has always done excellent work, (and get lots of referrals) but he needed to change his business development approach. Listen to Drew tell you how he turned around his business so that he could be proactive in his sales strategy.
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Drew’s Target Audience: Drew now mostly targets medical communication clients.
Drew is the owner and founder of Ninja Multimedia – an interactive company that helps marketing sales and educational teams increase user engagement. Although Drew had a lot of experience in entertainment and sports, he found that his best efforts were with medical communication clients. He soon realized that he should be placing more focus on those clients rather than being general about his target market.
Before meeting Gene and attending one his events, Drew was going after any kind of business he could get. As mentioned in the previous paragraph, some of his one of their best clients were communication clients. This prompted him to create a new division where he focused only on them. He also chose to focus on the solutions and successes in working with communication clients. He saw that this increased profits in the past year.
The increase in profits was because he made the shift in the conversation he was having with his clients. He began to look for the real issues and explored those things rather than just having a surface type of conversation.
Before his business took a drastic positive direction, the used to simply reach out to his network, or people he had worked for, or clients who had repeated business. He even reached out to his personal network. In contrast, he now knows how to identify prospects he wants to work for, how to reach out to them and converse with them. Having conversations with complete strangers was a fear he overcame.
Additionally, he and his team took a sample of 50 of the companies and did a survey to find out what their biggest challenges were. This also generated good business. The data he collected truly helped his business grow because it lead him to go after people who actually needed his services. This was another element that was missing last year.
Drew admits that getting the support he needed also helped him to think outside the box and ultimately create the payroll he really wanted.
In this episode we’ll cover:
- Why Drew knew he had to get more focused on his target market
- What changes Drew made in the client conversations he was having
- The changes Drew made in the types of prospects he was reaching out to
- How he created a clientele that truly needed his services
- Why creating a survey increased Drew’s sales
- Why Drew reached out for support to grow his business
Practical and Actionable:
Make up your mind to change. If you are doing the same thing over and over you’re going to get the same results. Be confident – do it and fail fast. Then make modifications where needed. Don’t be afraid to fail.
Resources and Links
Connect with Gene on LinkedIn or Twitter at @genehammett.
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