Every driven entrepreneur who wants to consistently grow their business needs to have proven strategies they can count on to increase their income. It's crucial to create more revenue in order to hire additional employees, purchase new equipment and technology, and expand marketing efforts.
Here are four strategies you can immediately implement into your business to help you ramp up your revenue.
1. Map out your strategic sales plan: Any business plan worth it's salt should include a well thought our sales funnel. Having a wide variety of techniques that attract clients is the first step. Once you have the attention of prospective clients, you can implement drip marketing campaigns that automate your marketing process. Be sure your marketing plan includes plenty of valuable content as well as profitable offers.
2. Create recapture programs: Many businesses can count on 80% of their revenue to come from the same 20% of their clients. If you aren't getting repeat sales and customers, it may be time to examine what you have to offer to past clients. Is it possible to create a maintenance program, or services that would benefit clients who you have already worked with? Have options to present to clients to encourage them to continue working with you.
3. Be prepared to down sell: Many of my clients find that they're missing the boat by not having services that can accomodate clients who have limited budgets. If your client can't afford to work with you privately, do you have a group program, a virtual program, membership resources or an apprentice coach to offer as an alternative way for them to get the results they want within the budget they have?
4. Leverage your efforts: Look for ways to leverage your resources to create additional streams of income. Compile previous workshop content into a product that you can sell at live trainings, via your newsletter or autoresponder, or on your website. Look for other ways to leverage your skills, your resources, your talents, and the most important resource you have… your time. Many business owners forget that the whole point of working for yourself is to not have to work hard. Implement strategies which will automate the process of attracting leads, provides value, builds relationships, and ultimately creates revenue on auto pilot.
Which of these strategies do you need to implement into your business? Feel free to leave me a comment, I"d love to hear what you have to say.