In today’s episode of the Heart-Centred Business Podcast, I’m going to share with you five ways to increase your business income quickly and easily.
Sound good? Of course it does!
Here for the links referenced in the show notes?
Episode 147: How to increase your prices: tashcorbin.com/147
Fast-Track Your Start-Up free training: tashcorbin.com/fasttrack
Let’s get started…
When it comes to increasing your business income, it doesn’t have to be hard.
For most of us, the biggest issue that we have around increasing our income quickly and easily is our mindset, for example:
- If I’m going to make more money, I’m going to have to work harder
- If I want to get more clients, I have to do more marketing
- If I want to have more profits, I have to make more sales
For most of us, there’s mindset stuff we need to unpack first before we even start to think about the strategy.
We need to embrace this idea that it can be easy, fast, lazy and fun to make more money.
Once we are clear that we can increase our income quickly… what are some of the strategy options?
1. Increase your prices
Most womxn entrepreneurs NEED to increase their prices ASAP. How long ago did you increase your prices?
If you’re a womxn, and you have a business… chances are, you’re undercharging.
Do other people tell you that you’re undercharging, and yet you still don’t put those prices up?
Perhaps you believe you need to stay in line with industry average. Or that people won’t pay any more than your current rates for the services that you provide. Or maybe you believe that you just need to get that qualification first?? Sound familiar?
For many entrepreneurs, increasing your prices is the best way to start increasing your income (and it’s quick and easy).
Quick warning: Giant leaps in prices can sometimes be disconnecting for your audience. If increasing your prices is something you would like to explore, make sure you read about how to increase your prices first because it’s a whole strategy in and of itself.
When done right, price increases can actually bring in MORE customers, not less! You’ll be surprised I’m sure.
2. Launch and relaunch
Even if you’re just selling VIP services, you can launch them.
Even if you’ve got a course and you’ve already launched it, you can relaunch it.
Even if you’ve got a membership and it gets a few new clients every month on autopilot, you can relaunch it.
A large portion of entrepreneurs don’t take a launch mentality with their business.
It’s easy to dismiss the fact that you can take people through your launch process many times. It’s a great way for people to get to know you, achieve some quick wins, and learn about next step to work with you. That can be in a membership, program or VIP package.
The launch process is really powerful for short-term income, growing your business and growing recurring income quickly.
When I first launched my Take Off program, I made the epic mistake of not relaunching it for many months.
If you have existing courses, programs or VIP offers, and you don’t have enough clients yet, I would 100% recommend you focus on launching and relaunching what you already have.
Don’t build new things – building new things is not one of the five ways to increase your business income quickly and easily. Why? Because new things require a much longer learning process, more experimentation, and more time to build and launch… so they are a lower return on investment in their development and first launch.
Building new things is not quick and it’s not easy.
But a relaunch of a course can be, especially if you systemise the way that you launch, learning and refining your process as you go.
My launches of the Take Off program are so easy for me now because it is literally reviewing two documents, scheduling the launch for the new dates and away we go.
It’s also so easy for me to facilitate and run that launch and every time I do, it’s $30,000 to $70,000 business income.
In summary, relaunching can be a quick and easy way to get that extra income in your business and grow your baseline income as well.
Of course when you first launch, it is going to be harder. But it gets easier and easier as you go. PLUS I’ve got a really great freebie on launching your course or program.
We have #leisurelylaunching in the Ladyposse and it is so much more fun than “freaked-out-fly-by-the-seat-of-your-pants-burn-yourself-out-launching”.
3. Follow-ups and calls to action
If you’re not following up, you are missing out on sales.
I bet that in just 10 minutes you could make a long list of people to follow up with.
They have said that they’re interested, maybe some have worked with you before, or you’ve had sales conversations. What about people on your mailing list? When was the last time you connected with them?
I follow-up in a range of ways: There’s the one-to-one version, and one-to-many follow-ups.
For example, if someone visits the link to the Take Off sales page, they’ll likely be followed up with ads. I have a great ad that simply says ‘Hey, it looks like you were checking out the Take Off program. Have you got any questions? Let me know.’ I get at least three messages replying to that ad every week.
Don’t assume the only way to follow up is one-on-one.
Sometimes it’s as simple as having a call to action.
How many posts do you put up on your Facebook page and don’t tell people what the next step is?
Calls to action on your posts could include:
- Go and check out a blog
- Go and check out a podcast episode
- Sign up for a freebie
- Join my mailing list
- If you want to work together on this, get in touch!
Putting a call to action on some of your posts on your Facebook page will help you increase your business income because you’re telling people the next step.
It doesn’t always have to be buying from you, it could be getting them on your mailing list. When you get them on your mailing list, they’re getting your regular communications, and then they end up converting into a paying customer down the road.
Those consistent follow-ups and calls to action are the lifeblood of your conversion in your business and so many people skip it, particularly the one-to-one follow-up.
People are so afraid of rejection that they miss out on conversion.
Ask yourself: ‘Am I avoiding rejection? Is that decreasing my conversion rates? Am I therefore stifling my income in my business?’
4. Scale your reach with paid strategies
I know so many entrepreneurs who can easily get 200 people signed up to a webinar, and get a good conversion rate. They roll the same thing out over and over again, and it works. But they’re not increasing their audience size. They’re not increasing their reach quickly, so their results don’t scale.
There comes a time where you know it’s converting, and you know you can get a certain amount of reach organically… that’s when it’s time to start putting money in to get more money out.
You can scale with things like ads or SEO (Search Engine Optimisation) or maybe using SEO-building platforms such as Pinterest.
There are multiple ways that you can scale.
It all depends on your target market, your conversion rates and your budget.
Look for ways where you can scale to grow that business income. The bonus is, that when you pay for the reach, it can be some of the fastest growth you’ll experience!
It’s not costing you time and energy – it’s costing you money.
For example, if you know that you can get 200 people to sign up for a webinar organically, what’s the harm in putting an extra $200 in ads behind it and seeing how many more you can get?
If you got 100 more people, that’s a total of 300 registered with pretty much the same energy and effort. Especially if you outsource to an ads manager. (This will contribute to your costs, of course, but if it’s converting, it’s usually worth it!)
So you can see that scaling your reach is a really easy and quick way to increase business income, especially if you know it’s already converting.
5. Hire a team member
Increase business income by hiring a team member.
The big leaps in my business income have come when I’ve had a great working relationship with my team, and I’ve scaled up my team in some way. That time I’m freeing up, I can now invest in my presence and growing my conversion strategies.
I know the more present I am with my audience:
- The higher conversion I get in my launches
- The better my sales funnels convert
- The more people reaching out and asking ‘How can I work with you? How can you help me do this?’
- The higher that income is in my business.
I’ve just taken a big leap in my business recently and hired a couple of permanent employee team members, and I know that that’s the next step for me to go to that next level of income in my business.
Outsourcing creates better opportunities for income growth.
Even though you’re doing tasks that you’re probably good at doing, and you’re probably really fast at them, they are still things that could be outsourced to someone else relatively easily. And when you do, you can grow your income so much.
That extra time can be invested in you showing up with more presence, being more connected with your audience or implementing other strategies that can grow your organic reach and grow your conversion in your business as well.
In summary, the five ways to increase business income are:
- Increase your prices
- Launch and relaunch
- Follow-ups and calls to action
- Scale your reach with paid strategies
- Hire a team member
I want to know what your strategy is and which of these do you think is the next step for you?
Come on over to the Heart-Centred, Soul-Driven Entrepreneurs Facebook group, use #podcastaha, let me know which episode you’ve been listening to and tell me any light bulbs or questions that you might have as a result of this episode.
If you’re ready to “fast track” your business, get it off the ground, and build a business model around your strengths, I have a great free resource for you!
It’s called Fast-Track Your Start-Up.
It’s all about building your business and getting money in the door quickly by building it to your innate strengths.
Until next time, I cannot WAIT to see you SHINE.
