Very few things irritate me more than hearing from a business owner who’s been (deliberately ?) misguided in business. They’ve gone to someone they trust, and said, “My business isn’t working. I don’t make enough money.” And that someone offers their advice.
Perhaps they suggest a new website, an aggressive media campaign, SEO work, blogging conference, hiring a virtual assistant, or — one of two newly crowned top favorites — a program to help you create additional programs to sell or a new app. lol…
Are any of these things inherently bad? Of course not. Last week, I spoke to one of my clients about hiring a PR person. He’s making $60K each month in his practice, and this is the next logical step. I often recommend updating your website AND blogging.
BUT, when you have an income problem, any “business expert” who doesn’t FIRST DEMAND you have some foundational, well-choreographed plans for 1) generating leads and 2) converting them into sales should be — at least — fired. And maybe worse. =)
Bottom line: When you have an “income” problem, you have a SALES problem. You’re not struggling because you don’t have the right “stuff” to sell. You’re struggling because you don’t have enough paying clients. Period.
The simpler we DEFINE an issue, the quicker we can fix it. My hope is that this article helps you create your own customized “fix.” Any questions, you can find me hanging with our members in our free Facebook group.
With no further ado, here are 7 steps to take… 7 things to do… when you need money now. Right now.
Below isn’t just 7 steps to “right now” money… it’s also an example of what a SOLID income plan looks like:
1) Set a Monetary Goal.
Don’t yawn just yet. You’d be surprised how many business owners attach a non-income goal to an income problem. They say, “I need to generate sales.” But their (often prescribed by an “expert”) goal has something to do with “increased traffic, more impressions,” etc.
So, start with a goal that has two components: 1) it is monetary. 2) It has a deadline date.
2) Define what you will sell to reach that goal.
Quick note: This isn’t an overall business or marketing plan article. Our singular focus is on GENERATING INCOME now. That’s why we’re putting “what you’ll sell” before who you’ll sell it to. I AM assuming that you decided on your own “menu items” of services or products based on your exact target market. A perfect fit is a great sale — every time. But, what will you sell and how many will you need to sell to reach your income goal above? Be specific.
3) Who will you sell to?
Make a list. A real list, not a demographic sketch. WHO will you sell to? Maybe it’s a list of neighborhoods around your practice. Maybe it’s a list of 50 people you’ll invite to your event. Maybe it’s your current list of paying clients. Again, be specific.
4) Make them raise their hands
You must generate interest before you generate sales. SOMETIMES you need to more accurately define their need before they feel it. BUT, either way, you need to do something to generate the INTEREST of your target market.
You want them to nod their heads, raise their hands and say, YES — I know what you’re saying… I need more information about that. SPEAKING — whether you’re a speaker or not — is a fantastic way to accomplish this.
5) Let them trust you.
As you’re speaking with those on our list, be sure to 1) highlight points on which you know you and your market agree, 2) identify issues over which you share a common bond or affinity and 3) show clearly how you’re DIFFERENT from those they’ve trusted in the past.
6) Take them beyond a reasonable doubt.
Show them evidence that what you’re saying is true. Show testimonials, interview your own clients, share stories that offer PROOF.
7) Let them taste it.
Give them a “taste test” — a sample. Now, this is easy if you sell ice cream or macaroons. You have to be a bit more creative about this sampling if you’re selling windows, chiropractic care, or tummy tucks. But it CAN and SHOULD be done.
Our market — yours and mine — have fingers that are burned and bruised by buying from and trusting the wrong people. So, they (your clients and mine) are very likely apprehensive about whatever it is you’re telling/selling them. So, give them a taste. And then, ask them if they’d like to continue with you.
Does this help? If so, let me know. Have additional questions, catch up with me and our other members in the Facebook group.