Make More Money From Your Business
Making more money from your existing business does not need to be rocket science or ridiculously hard work. You don’t need to produce ten times more of your product or book in hundreds more clients. You don’t need to work yourself to death, network until your blue in the face or invent more hours in the day. Of course, each of those IS a way to generate more income; but is it really the most productive and efficient use of your time?
You’ll have heard the term, work smarter, not harder. And it’s true! But what does it actually mean? Sometimes, it’s thinking about the skills, knowledge and talents you already have, and applying them to your business in new and exciting ways.
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So, how do you think those making huge amounts of revenue are doing it? I promise you, they have not got a time machine to create more hours in the day and they don’t have some magic tonic that makes them work at a thousand miles an hour!
There are 3 ways that women running 6 and 7 figure empires are doing just that. These women are JUST LIKE YOU! They probably started their business in their living room, just like you did. So for starters, lets get rid of the mindset that success is for other people. It’s not. Success depends entirely upon what YOU WANT IT TO BE. Not what society thinks it is. And although that’s a lesson all of it’s own, it needs saying here, because it’s important for you to understand that these keys to financial abundance don’t apply to someone else; they’re yours to take, implement and profit from too.
You can invite more money into your business by applying these 3 simple principles to your business:
- Boosting Sales
- Increasing your active income streams
- Implementing passive income streams
By up-levelling each strategy, you invite more business and additional income streams into your business. This results in your receiving more than one income into your back pocket each month. Whether your existing offer is an MLM product, your own product or a service, you can add other income streams into your business that are all complimentary.
Let’s look at each of the three strategies in more detail:
Selling more of your existing offer seems like the golden ticket to hitting the big bucks. And actually implementing some basic strategies can create more sales in your business quite easily. However, you always need to consider how you might cope with a sudden surge in sales? How will you create more without investing all your time into your business? How will you sell more appointments with clients when there are only so many hours in the day?
Some ideas that you might want to consider:
- low cost and strategic niche advertising
- upping your social media game – being in the same places that your audience hangs out
- joint ventures with relevant partners
- starting your own affiliate program
The 6 figure business owners I know have one of the best solutions to the problem of hours in the day. When they are in such demand that they simply can’t do any more, they do one thing:
- increase their prices
This, above all other things, is what makes you start to become an exclusive brand. You will really niche down to your ideal client, selling the same number of offers but at a higher return.
Active Income Streams
Active income streams are still exchanging time for money but in a more efficient way. Once you’ve niched down to your speciality, it’s possible to see a wider range of options of how you can deliver your product or service. Our big business ladies are doing just this:
- grouping products or services to deliver to more than one customer at once (specifically for service providers)
- actively teaching your craft/skill in a workshop setting
- attending relevant and niche events to network and sell your offers to the appropriate audience
- offering consultation services based on what you do best in your business
Passive Income Streams
Passive income, in very simple terms, is creating something once and it offering financial returns over and over again. These types of income streams are almost always automated, with very little hands-on action once it’s set up. These are THE BEST possible way to diversify where the money in your business comes from because, you can keep doing what you love while having consistent income pouring in from one or more of these additional streams. If you want to be a 6 figure badass, then you need to think outside of your current creative box and earn more, without doing more!
Some of the passive income streams that our awesome bossbabes are using:
- teaching an online course
- teaching skills or offering an opinion or advice via ebook
- writing books/ebooks and self publishing
- affiliate marketing via social media, blogs and vlogs
- membership programs
You can find out more about affiliate marketing here and passive income here. I highly recommend starting to brainstorm ideas that you can apply in your own business here too. If you’re struggling, why not check out the shop page for some products and services that will help you to take that next step?
OK! I don’t want to overload you so I’m stopping now! But take away from today that there are options that can take your business to 6 and 7 figures if that’s what you want!