Is it possible to fast-track your income growth in your business?
Whether you’re starting out or you’re more advanced in your business journey, we all have times when we really want a big boost to our business income.
Maybe you’ve plateaued, or you have a big goal, or maybe you need money to invest for that next big launch… whatever the reason, in this episode I’m giving you four practical ways to do just that!!!
Here for the links referenced in the show notes?
Episode 147: How to increase your prices: tashcorbin.com/147
30-Day Business Blast Udemy course: tashcorbin.com/udemy
Let’s dive in!
The first thing you need is a strategy. It really comes down to a matter of logic – there are a limited number of ways that you can get more money in your business…
Here are the four core ways you can achieve those big leaps in your business income:
1. Increase your prices
If you offer one-on-one services and you’re starting to get booked out (or even if you’re not), increasing your prices is a great way to increase your income.
There’s one caveat: You don’t want to increase your prices and significantly reduce the number of sales that you make, in such a way that you decrease your income overall.
When you DO increase your prices, it’s a good idea to have a strategy around how you’re going to do it.
Whether you’re selling one-to-one, one-to-many, or completely passive income products, increasing your prices can be one of the fastest and easiest ways to increase your income, with the right strategy.
You can check out my price increases podcast episode for more help with this: CLICK ME
2. Get more clients
If increasing your prices isn’t an option for you, one of the other logical ways to increase your income is to then increase the sales you’re making.
Get more clients, sell more courses or sell more products.
But again, you need a strategy. If you have the capacity to bring on more clients, what are the steps that you’re going to take in order to get more leads, improve your conversion and get more clients in the door? And it’s usually a matter of picking one focus area: Increase your reach, or increase your conversion rate?
3. Launch something new
Going down the next logical option pathway, your next option is to launch something new.
If you are going to do something new, make sure that you have a strategy to ensure that the time that you invest in delivering and marketing that new thing gives you a bigger return on investment for your time than your current activities in your business.
Often the shiny new thing isn’t the best option, it’s actually focusing on what you’ve already got working, and just scaling that instead.
4. Check your mindset
This has been a big one for me personally. I have had many times in my business where I thought I had a solid strategy to increase my income but it just didn’t happen. Many times, it was because my default mindset (subconsciously) believed that to make more money, I needed to work harder… so my strategies to increase my income without increasing my workload triggered some wobbles and self-sabotage most of the time!
With this approach of paying attention to your thoughts and mindset, when you consider the previous three very logical options for increasing your income, you may just find that you were making some assumptions about what it would take to make more money. Often, people think they need to make a new thing, but they don’t. It’s a mindset issue.
Make sure you have the support, tools, techniques and strategies to continuously check in with your money mindset.
You might just notice those limiting beliefs or programming are pushing you to take action and implement strategies that aren’t necessarily best for you.
(By the way, if you want to nail both your income AND your mindset, check out my Udemy course 30-Day Business Blast here: CLICK ME)
I’m SO curious to hear what you think. Pop over to our group, the Heart-Centred Soul-Driven Entrepreneurs community, and share your comments and questions using #podcastaha and the episode number (181).
Until next time, I cannot WAIT to see you SHINE.