Inaction is the death of any business. Without taking regular action every single day to grow your business, inaction will cause your business to become stagnant. Clients will disappear, your sales funnel will be empty, and your revenue will dip to zero in a heartbeat.
Let’s avoid this scenario! Here are five action tasks that will lead to increased income and business growth.
1. Email Your Customers Regularly
Email is the easiest way to stay in touch with customers and prospects to let them know about your new offerings or to recommend an affiliate product which pays you a commission.
2. Focus on Customer Service
You will never please everyone but you may as well try your best. Inevitably customers will contact you with questions or refund requests so be prepared to answer these requests in a timely manner. Stick to your rules about refunds but never disregard or disrespect a customer. Negative online reviews are easier to find than positive ones.
3. Raise Your Rates
When was your last rate increase? Are your prices competitive with the current market of products or services of your caliber? Can your ideal client still afford your new rates? Be confident that your expertise is worth that new rate and break the news carefully to your current clientele so they don’t jump ship.
4. Repackage Your Offerings
Don’t reinvent the wheel. Simply take your older content – books, programs, blog posts, etc. – and create new bundles or create an entirely new product. The information or products should obviously be related in topic to appeal to the most people and be sure to price it accordingly.
5. Create a New Offering for Old Clients
People buy from those they know, like, and trust. So open up that old client list and create an exclusive offer just for them. Make the offer exclusive and time-sensitive to get quick action results.
Businesses of every type need a business plan. And don’t think you can skip by on this important step because you offer a service instead of a physical product. Every business can benefit from a business plan.
First Step, Focus.
When you create a business plan you need to focus on the reasons for the business: Who do you want to serve? What do you want to provide? When do you want to start? Where will you set up shop? Why do you want to start such an endeavor? How will you meld all these things together to create a prosperous business?
These are the primary reasons why you’re going into business and they should always be at the forefront of your mind when making decisions.
Something else to focus on is your big dream. How much money do you want to make over the next five years? Do you want to sell multiple products or have several locations? Everyone’s big dream will be different but you should write it down as part of the plan.
Second Step, A Plan.
Think of your business plan as a mountain. Your mission statement is at the base of the mountain while your big dream is at the peak. Everything in between is what you need to plan and these steps should also be incorporated into a business plan.Ask yourself these important questions and write them down as part of your business plan:
What products do you want to create? How often do you want to produce a product? How can you implement some passive income or affiliate income into your business? Are there any speaking engagements or online summit opportunities that will expand your reach and your followers? What can you add to your sales funnel for those not yet ready to commit to your product or service?
Third Step, Action Steps.
This is where your planning steps are broken down into smaller, actionable steps. Instead of just saying I want to write a book, break the process down further. How much time can you dedicate each day to writing? Do you want to self-publish or find a publisher? You’ll need to hire an editor and someone to design the cover. These are actionable steps that can easily be crossed off your to do list once completed.
Don’t be thrown off here. You don’t need to plan five years’ worth of action steps at one time. The idea is to plan a year at a time, keeping your focus in mind, so that the action steps become a pathway or a blueprint to your big dreams.
Overwhelmed, overworked, and not seeing a profit in your business yet? This needs to change!
Hands up if you have tons of half-finished items are on your to-do list! I hear you.
I used to be in the exact same position. I didn’t have a strategic plan of action to implement and I was working 12 hour days on things I wasn’t even sure was helping my business. I was scatterbrained and tried a little of this, a little of that, and more, thinking it might help but not knowing for sure. After working 12 hours I couldn’t look back and pinpoint what exactly I was working toward other than just trying to keep my head above water.
Now, I work less, make way more, and work more efficiently! Woohoo!
What changed? I created a profit plan and my friend, Haley Burkhead, taught me exactly how to do just that.
I joined Haley in the Profit Planner Lounge and I found out which tasks bring me the most money. I also cut out everything that was draining my energy and automated what was driving profit! (This automation was HUGE for me!) The tools you work with Haley on alone are business-changing, but then you get so much more help from Haley and the awesome community.
So, what exactly is the Profit Planner Lounge?
It’s a place to automate your:
- High Priority Tasks
- To-Do List (on a color-coded, recurring calendar)
When you join, you’ll be able to break your income goals down into daily, actionable, color-coded tasks that make you more money, not migraines!
It might just be the most stressful decision you ever have to make: what to charge?
You’ve got the competition to consider, your own skill set, what you perceive to be your skills (yes, this is different from the former for most of us), what your market will pay, your location, and a host of other variables. Working it out can feel like a hurdle you can’t quite get past.
Of course, there are some strategies you can employ. These will quite quickly tell you what you need to be charging to reach your income goals, and they’re a great place to start.
Your Competition. This might take a little detective work, since a lot of coaches and service providers don’t publish rates. But if you pay attention to their websites and social media, ask a few discreet questions, and get on their mailing list, you can figure it out.
Be realistic about who, exactly, your competition is, though. Don’t undervalue or over-sell yourself. In other words, make sure you’re comparing yourself to another provider who shares the same skills, market, and track record, rather than simply looking at who you strive to become.
Your Skills. In some fields, this is easy. There are certifications and educational programs that allow you—by virtue of having achieved them—to charge a certain rate. If you’ve followed this path, then pricing will be easy for you. If not, take a solid look at what you can legitimately claim as a skill.
Look, too, at your track record. Have you proven yourself by helping former clients (and do you have the testimonials and case studies to show for it)? Have your former clients moved on to bigger and better coaches after working with you? (That’s a good thing!) These are all reasons to maybe consider a higher price range than you might have first thought.
Your Market. In the game of setting rates, it’s your market that has the final say. As any first year economy student can tell you, the price of anything lies where what the buyer is willing to pay meets what the seller is willing to accept.
If your goal is to give newbies a helping hand and lead them down the path to success, that unfortunately means you can look forward to low paying gigs. That’s not a bad thing—everyone has to begin somewhere—but it does need to be acknowledged. If, on the other hand, you’re target market is more established and economically stable, then a higher fee isn’t just warranted—it’s a must. They will expect a higher price, and will not find value in the lowest-cost provider of anything, whether it’s coffee beans or business coaching.
Finally, don’t forget that pricing is never set in stone. It’s flexible. If you find you’re attracting the wrong market (or no market at all) you can always change your rates. Working too hard for not enough return? Raise your rates.
It’s your business. You get to call the shots.
In today’s fast-paced world of SEO and SEM, its easy to overlook the one element that a lot of web design lacks—common sense! It is easy to become so obsessed with seducing traffic and boosting your search engine rankings that we overlook the simplest details.
I like to think that my approach to business is one part experience,one part research and two parts common sense. I know our business; that’s my experience. I read as much as I possibly can to strike a balance in my efforts between tried and true and newer methods of business planning and marketing. But to me, the most important, and often lacking in my opinion, is the common sense part of running any business, especially online.
In working on both our own business and our client’s, I have found that too often I can get too focused on the technical aspects of my website and business. We are constantly inundated with tips, tricks and techniques for getting more traffic and finding new leads. Please don’t think I’m discounting any of those or disparaging those giving advice. On the contrary, I think it is necessary to take in as much information as possible in determining your own strategies. The problem, in my eyes, lies in getting too involved in these “new” concepts and losing sight or doubt your innate sense of how to do things.
I am not suggesting any hot new modes of marketing, nor am I guaranteeing any way of making thousands of dollars a week! I am merely suggesting that before, during and after implementing any new techniques, you always take a look at your website and all your materials from your customer’s point of view. Better yet, have someone else take a look.
Make sure that you have had your site designed and written your copy in a way that is accessible to both ends of the spectrum: the techies and the technically challenged alike. In a perfect world, each visitor to your site would be very computer and internet savvy. Unfortunately, we all know it is not a perfect world. You must make your site as user-friendly as possible.
I spent a lot of time designing our website. I put a lot of thought into what we wanted to say, how we wanted to say it and how we wanted it to function. Those are all important things to consider and steps that must not be skipped. However, shortly after launching the site I discovered what we could improve.
The first thing I did when I uploaded our new website design was to inform all my friends and family. I knew within two days that I needed to make things a whole lot simpler! I had not taken into account that I have grown up in the internet age and things that I take for granted like knowing how to navigate a site via a site map or navigation bar are not second nature to everyone. I got the best feedback from my 91 year old grandfather who really wanted to see the whole site and know what it was all about. He tries so hard to keep up with the technology, but using the internet is not his cup of tea.
After speaking with him and a few other relatives, I sat down and took a hard look at our site. I tried to simplify things as much as possible. I didn’t change the copy because I had made a point to write copy that was inviting to potential clients from any background. I used my keywords as much as I felt comfortable doing without sounding like a broken record.
Albert Einstein once said, “Everything should be made as simple as possible, but not one bit simpler.” In our excitement to boost our search engine rankings and generate traffic, I think it’s important to remember those words. The more people who can use your site and hear your message, the more customers you will have!