In 2000 Michael was named the new manager of a division inside of Thomas Nelson Publishing. The division was 1 of 14 that existed inside the company, and was dead last in every meaningful financial category. Michael was charged with turning it around and given a 3-year deadline to ‘put the train back on the tracks.’ With a lot of hard work, Michael and his team took that division from dead last to first in every financial category in only 18 months.
This was the spark that ignited Michael’s career, and from here, Michael was quickly promoted eventually becoming the CEO of Thomas Nelson Publishing in 2005. Michael led this 9-figure company for 6 years before stepping down to do what he had always wanted to do. Write and speak full-time. So in 2011 Michael started an online training company, www.michaelhyatt.com.
How To Solve The Problem Of Failed Payments:
It quickly became a multi-7-figure business, and is currently performing very well. But Michael and his team discovered a problem that was quickly becoming a significant issue for their business. Failed payments.
Michaelhyatt.com is a subscription-based business, which operates with recurring membership payments and revenue. What Michael and his team realized was that they had no legitimate strategy for dealing with transaction failures that occur each month. Michael and his team took advantage of Gravy’s Free Discovery Call and realized that Gravy could bring in a significant amount of revenue back into their business, which was currently being written off as a loss.
During the free discovery call, the Gravy team did a deep analysis of the payment failure problem that Michael and his team were experiencing. With just one of their products they were losing more than $10,000 dollars a month to payment failures, and they had no strategy in place to recovery this lost revenue. Gravy suggested a two-pronged approach to solving this failed payment problem. A manual approach that would utilize Gravy’s full-time focus and proven recovery system, and Gravy’s automation optimization package that would allow Michael and his team to fully leverage the software they were using to maximize results.
Using this strategy, Gravy recovered $30,000 dollars in just the first 3 months. Michael and his team are currently on track to recover $100,000 dollars this year that was previously being written off as a loss!
Book A Call With Gravy:
If you’re ready to see how Gravy can inject fresh money back into your business, then book a free strategy call with us. We can help you find out exactly how much money you are losing to payment failures and we can design and implement an effective strategy for dealing with your payment failures. Book a call today!
Gravy is a proud sponsor of the 7-figure CEO Podcast. This is a podcast dedicated to helping entrepreneurs break through the million dollar barrier facing them in their business. This podcast moves past the ‘theory’ of business and focuses on practical strategies that you can implement right away.
At Gravy, we exist to help entrepreneurs and CEO’s solve the problem of failed payments and credit card declines in their business. We know that this one problem alone costs small businesses billions of dollars nationwide each year, and we want to help. We are passionate about entrepreneurship, and we want to help as many businesses leaders as we possibly can build healthy, thriving businesses that will continue to serve people, solve challenging problems, and provide jobs for years and years to come.
Today’s guest is Justin Lofton. Justin started his first business at the age of 8. From then on, Justin knew he would always be an entrepreneur. In the years following, he has owned and operated businesses in all kinds of industries, many producing 8-figures of revenue. With so much experience in so many different businesses, Justin has learned what it takes to build a great 7-figure business and how to leverage marketing to bring great companies to market.
He is now the founder and CEO of SyncSumo, Zenfusion, Fresh Agency, and many other eCommerce brands dedicated to helping entrepreneurs, business owners, and marketers grow their business through coaching, automation, and done-for-you services. You can check out all of these businesses using the links below: