How to start generating cash flow into your business today.
I was recently at a women’s entrepreneur conference and I went into a session titled, “Profit Planning.”
Who isn’t excited to learn about financial planning when it comes to their business?! However, at the very beginning of the talk, she laid out some harsh statistics. I’m not going to lie… it was shocked.
Don’t worry… I double checked these stats through SBA (Small Business Association) to make sure they were accurate. Here goes:
- 30% of new businesses fail in the first 2 years.
- A whopping 50% in the first five years and
- 66% over the course of 10 years.
The number one reason for business failure was a lack of cash flow.
Which leads me to ask you, “What are you doing TODAY to bring money in the door?”
Making money in your business being productive vs. busy.
I use to say the word busy like it was my J-O-B.
“So busy today, I was slammed!”
I associated working hard with making money. If I worked hard. I would make money.
But I’m here to tell you that isn’t true. It’s a false belief that we tell ourselves!
If there was a purple heart for “being busy but not hitting my financial bottom line”. I would have it by now!
When I launched my business I spent hours posting on social media. Hours spent working on projects that I never even marketed! Yep, zero follow-through after spending 30 hours taping and editing! I had no end game when it came to my day to day tasks. But I was busy!
If you have fallen into that trap, leave a comment below. Tell me how many checklist, videos, worksheets, or workbooks are sitting on your computer that are not making you money right now!
This is the thing, you and I need clients to make money in our business.
For service-based businesses, when I talk about being productive. It’s when we are actively meeting and engaging with people that could be potential clients.
I ask you, “How many people are you meeting per day? Or per month? That can lead into clients?”
For me, my top ways of landing clients are:
- Meeting In Person- I find this to be the easiest way to make connections and land business.
- Linked In- I have a system I use and find it way more powerful than say a Facebook group.
- Pinterest- The largest organic traffic driver to my website.
- Facebook Groups- Interacting and adding value.
- YouTube- Right now I am committed to building my YouTube Channel to build a broader audience base. (Click here to check out my channel!)
You need to be interacting with people and building relationships to grow your client base. The more clients you have, the more money your business is making.
What can you do every day to ensure you’re bringing money (clients) into your business?
Also, this should be the top 3 items on your to-do list.
Making Money In Your Business: The Game Plan
Before moving forward, I want you to make a solid commitment. You will commit to introducing yourself to 3 new people every day to expand your network.
Where: They may be virtually (online) or in person.
Who: This could be other business owners or people you meet at your workout class.
The Goal: To learn about them and share what you do! To start building a solid relationship.
Let’s chat about a few places you can expand your network to start developing authentic relationships. Relationships that will convert into clients (i.e. money).
I, personally, commit to one networking event per week. This could be a conference, business networking event, or even a happy hour.
The idea is to meet businesses owners, a potential client, or someone that may have a connection with someone that needs my help.
The game plan is to meet as many people as I can and learn about them. After the event, I connect with them on Linked In and I send them a follow-up message.
If we have decided to meet we are a great match, we should meet up soon. I immediately request a date and a time and put it into my calendar.
Pro Tip: Schedule an actual time and date immediately in person, don’t fall into the trap, “let’s get together soon”. That translates too, “no meeting will ever happen.”
There are virtual ways of meeting and connecting with people.
Linked In is a great way of networking and connecting with business owners. Especially as a service-based business.
I spend approximately 30 minutes a day, connecting and developing relationships on the platform.
This is by no means a, get-rich-quick scheme. It creates authentic relationships and takes a bit of time to develop. But trust me, you will reap the benefits long term.
Of course there are Facebook Groups and other social media channels that you can connect with other business owners or your potential clients.
Making Money In Your Business With A Solid Marketing Strategy
When it comes to marketing and developing content. The struggle is real for most business owners. I get it, I use to spend tons of time haphazardly posting on social media and writing blogs with no actual strategy. This cost me HOURS and MONEY.
Let’s talk about marketing for a hot minute! It’s really simple.
I want you to envision your end goal and work backward when it comes to marketing. For you and I, the goal is to make money in our business. We need clients to make money.
Marketing is when you authentically show-up, add value, build like and trust and offer people an opportunity to work with you. Simple.
If you struggle with marketing, I have you covered. I have a 5-day mini-course that will put it all together for you… I promise you, it’s life-changing check it out here!
Marketing is pretty simple.
Your clients have a problem. You have the solution. Show them the journey they need to take to get to where they want to be.
For example, my client’s challenges are:
- Gaining online visibility,
- Bringing in consistent clients and
- A desire to increase sales.
I realize the solution for each of my clients is different, but I can offer them different ways of showing up that feels authentic to them and their business. This radiates and their clients are attracted to it and in most cases their sales increase!
I develop content related to their problem areas. Show them different solutions.
Create valuable content to gain like and trust. And to convert readers into buyers.
Your content has an end goal. Showing your clients you understand their pain and have the solution. Offer them an opportunity to work with you.
But keep in mind, that introducing yourself and building deep one-on-one relationships will result in clients. Prioritize your day based on what is going to have the most impact, as I mentioned, me meeting and introducing myself has a larger impact. It results in more clients.
If You "Despise" Marketing... But You Know You Need To Do It!
I have you covered, I have compiled a 5-day video series (20 minutes or less videos!) that will take you from, “I hate marketing and my marketing plans always fail” to laying out your entire marketing strategy. In 5 easy days!
Trust me… I am breaking it down into simple easy steps!
Let’s talk about other areas where you can broaden your network to make more money in your business:
- Pitch yourself as a guest speaker in another person’s Facebook Group. (Make sure to have a Call To Action)
- Being interviewed on a podcast.
- Having your own Facebook Group to build your target audience for you to connect and add value.
- 5- day challenge (partnering with a like-minded business to piggy back off each others audience)
- Video challenge (gain momentum have your clients do videos)
- Giveaways (make sure they pertain to your target audience… give away an iPad and EVERYONE will enter– including people that are NOT your target audience)
It’s me not you…
With everything in business, let’s talk about the mental aspect.
One of the largest reasons I see my clients give me push back when it comes to going out and introducing themself and their business… it’s the dreaded “R” word. Rejection.
Let’s chat about this.
Imagine, if a vacuum cleaner sales guy pops by your house on a Saturday afternoon. He is super excited about selling you the latest innovative vacuum cleaner.
Chances are you’re not in the market for a vacuum cleaner. You would have ordered one offline or gone down to Target! You smile and politely decline.
You are not rejecting the person that is selling the vacuum cleaner. You are merely telling the enthusiastic vacuum cleaner sales guy, you are not interested in his product.
Same goes with our businesses. We are not here to serve everyone. Not everyone is going to be the right fit as a client. BUT when they say no, that isn’t a reflection of you in a negative way!
This is business. It isn’t personal.
Can you commit to making money in your business?
Today I ask you, what are you working on to bring clients into your business?
Setting aside rejection, are you willing to commit to reaching out to 3 new people per day? If so, leave me a comment below! I want to hear from you!
Think about this, if you reach out to 3 new people per day. With 30 days in the month, that is 90 people you are reaching out to monthly.
90 people that you are genuinely interested in meeting and connecting with you. There is no doubt that you can grow your business and meet the financial numbers you desire by reaching out to 3 people a day.
How easy is that?
You got this… you now can prioritize exactly how you are going to bring clients in and add it to the top of your to do list. (yes, before all the content creation, etc!)
I suggest checking out the article I wrote, “How to confidently price your services to never question your pricing or (even worse) discount your services AGAIN”. (You’ll need to have a solid grasp on your pricing model once clients start coming in the door with this challenge!)
If this article resonates with you and you are ready to grow your business. A business that is authentically you and feels good. A business where you are connecting with people and making a difference in their lives. But you are struggling to make the right strides.
And you’re ready to grow your business with strategy and a little help. Let’s jump on a 15-minute clarity call and discuss your business objectives and find out what is holding you back. Click here to schedule a call.
LinkedIn is a goldmine when it comes to growing your service-based business. Mary Fain Brandt is sharing tips on how to start using LinkedIn the RIGHT way to grow your network and leads.