There are so many ways you can increase your business’ revenue and boost your income. In this blog post, I’ll outline the most effective methods you can use to make more money in your business. It’s time to stop hiding and get clear on what you need to do so your money situation stops feeling like “ugh”! Let’s dig in…
1. Increase the NUMBER OF LEADS (Double your leads and double your revenue!)
- Increase the number of lead generation opportunities you produce
- Increase the amount of traffic you drive to your lead gen tools
- Increase the frequency and placement of your lead gen tool
- Increase your brand awareness and visibility
2. Improve the QUALITY OF LEADS (Boost your income by getting in front of the right people)
- Improve your targeting to be better aligned with your ideal client avatar
- Improve your messaging to call in your perfect client and disqualify those who aren’t a good fit
- Improve the specificity of the problem you solve
- Create different content and ads that target the leads in the various stages of awareness that they’re in so they’re getting the right message, at the right time
- Create a systematized and quality referral program
- Engage affiliates
3. Improve the CONVERSION RATE of your LEAD GENERATION PROCESS (Solving the right problem will help boost your income)
- Test different copy (content, tone, messaging)
- Test different images (colours, black & white, colour block, photos, …)
- Test different lead gen tools
- Survey your audience and get feedback
- Establish yourself as a trusted authority in a specific niche – be known for something specific – the “go-to” expert in a well-defined area
4. Improve the CONVERSION RATE of your SALES PROCESS
- Use your customer’s own words to mirror back and illuminate the pain they are experiencing
- Clearly communicate the solution you provide and hone in on the vision of the benefits your customer will experience once they achieve that outcome
5. Increase your MARGIN so you can boost your income
- Increase the prices of your services
- Decrease your expenses
- Streamline your operations to get the same results in less time
- Optimize the use of all of your resources
- Upsell your clients to other offerings
- Bundle offers
6. Increase your CAPACITY
- Leverage your time by creating offers that can service more clients in the same amount of time
- Systematize and automate your back-end processes and workflows so that everything is more lean and streamlined, freeing up more time to serve clients on a deeper level
- Onboard a team who can take on the client fulfillment on your behalf, using your signature methods and processes so you don’t cap out at a maximum number of clients you can serve
7. Increase the FREQUENCY of sales to boost your income
- Launch your service more frequently
- Create an upsell (or down-sell, or cross-sell) option
- Create different offers that serve different segments of your market
- Create a high-value, low barrier to entry tripwire offer that will boost your client acquisition rate (because it’s much cheaper to make sales to existing clients than it is to constantly try to acquire new clients)
- Improve the engagement with your customers
- Improve your follow-up strategy
- Utilize more automation in your sales processes
8. Increase your CUSTOMER RETENTION RATE
- Create fantastic customer experiences
- Create offers that are only available to existing clients
- Overpromise and then overdeliver so they receive massive value
- Be authentic throughout the entire customer journey so they don’t feel a disconnect between your branding and your actual service delivery
- Be picky about who you will take on as a client so you’re only letting in people who are a great fit for the offer, thus reducing potential negative experiences
9. Build your TEAM
- Onboard the right support for the right tasks at the right time
- Build momentum by focusing on your zone of genius and delegating out other responsibilities that suck too much of your time
- Set up your business model so that YOU are not the bottleneck to growth and your business engine will continue to run, even if you aren’t there 24/7
- Hire people who are better than you because you’re probably not an expert in all areas of your business, but you want to
- Have experts who can maximize your results for you
- Get used to building trust with your key staff and handing off responsibility for achieving outcomes
10. Gather DATA and be responsive
- You don’t have to be a data analyst yourself, but you’re going to want to have someone on your team to keep their eye on your performance so you can double down on what’s working well and improve or ditch the things that are dragging you down
- Let the data and feedback guide your decisions, even if the results seem surprising to you
Now, after reading this you might be feeling like this:
You know something needs to change if you ever want to get your life back again. But you’re rolling your eyes and pulling the blankets further over their head because “HOW ON EARTH AM I SUPPOSED TO DO MORE THAN I’M ALREADY DOING???”. You’re already overwhelmed and MAXED OUT in time, in patience, and capacity to take on even one more project right now. I hear you!
But let’s be real – you know and your intuition is telling you, that if you don’t want to burn out and crash and burn, you have to start making some serious changes in the way you run your business. You need to boost your income so you can stop worrying so much about money and focus on serving your people in a meaningful way. You want more flexibility and freedom in your schedule and how you spend your time. And you want to stop having your revenue tied to YOUR TIME.
CHANGE IS HARD!
It’s easier to just keep doing what you’re doing now, even if it means you might not achieve your goals.
And yet, your drive and ambition are nudging you. You know you have more people to serve. You know you want to create your impact and start building your legacy work.
Next steps to boost your income
You don’t need more content. You don’t need another course. You don’t want to get overwhelmed and you definitely don’t want to start trying to do everything. Trying to DO ALL THE THINGS is not the answer.
And not every business should be focusing on the same things. Each individual business will have a unique need based on their current state and their desired outcomes.
You’re a busy person, with a business to run, you don’t have the time to be randomly throwing ideas at the wall hoping something will stick. It’s time to get off the revenue roller-coaster and stop spinning your wheels trying to grow your business past this plateau you’ve been at. You’ve wasted so much time trying all the latest tricks, tips, and tactics, not to mention signing up for all the DIY courses, but now you’re ready to move forward with intention and purpose so you can finally get some tangible results.
You want to boost your income, but how do you know where to start?
So how do you know where you should be focusing your time, attention, and resources, when everything seems urgent and needed? If you end up focusing all of your time and energy on solving the WRONG PROBLEM in your business, even if you get that thing perfect, you’re not going to see an improvement in your results. Knowing what the right problem to solve is, can open the floodgates to the success you’ve been working so hard to achieve.
If you have a perfect team in place and everyone works efficiently and they all have great workflows to follow, but your business isn’t generating enough leads to make enough sales to cover payroll and the other overheads in your business, your team won’t do you any good. You won’t be able to pay them and they’ll be gone.
When you’re concentrating all your time and effort on constantly acquiring new leads, but don’t have the capacity to actually deliver on your service fulfillment, there’s a problem. You’re going to end up with unsatisfied clients and your opportunities for referrals and repeat sales vanishes into thin air.
Here’s what you DO need: Identify your business and lifestyle goals and PRIORITIZE based on the most pressing need based on your specific situation, and start there, and work your way up.
You may find my FREE Quick Start Guide to Increasing Your Income helpful. You can grab your free copy here.
Business owners who are ready to get the access and support you need, I encourage you to connect. Cut down your learning curve, maintain your sanity, and take the headache out of scaling your business.
If you’re interested in discovering how I may be able to support you so you can do more of what you love, let’s chat!
You can book a consultation here.
Alison Beierlein is an experienced Operations Consultant with well over a decade of hands-on small business management experience. She’s also a certified business coach. She helps small business owners and entrepreneurs grow and scale their businesses. Moreover, she helps them do it sustainably, so they can make a bigger impact and live their dream lifestyle.