3 Places You’re Leaving Money on the Table

(and How to Fix Them Today)

Leaky Tap like Leaking Cash from Business

Good business coaches are able to look at a your business objectively, ask pertinent questions, and guide you, the owner through the process of creating a plan for future growth.

Consider a business coach your objective third party, the one who can sort through the processes that work and those that don’t work and help mould your business into a profitable one.

For any business owner with an online presence (and EVERY business should be online!) there are many ways to build income streams into your business that will bring in extra money while you focus on serving your core clients.

Additional income that doesn’t require any additional work to deliver will help your bottom line while you actively market your core business. You’ve invested good money into your business and your website; why not make it work harder for you?

REFERRALS & COMMISSIONS

Providing add-on services or services and products that are complementary to what you do is a simple way to make commission by recommending products or services to your audience.

This process is similar to telling your friend or neighbour about the great pizza place where you just ate dinner.

Simply sign up for the product’s affiliate program and place a unique link within a product review on your blog or on a web page listing all the business tools you recommend. Every time someone clicks on your link, they are brought to the product’s site and if they make a purchase, you get a commission.

Affiliate links can also be added to eBooks or other digital products you sell. However, review the Terms of Service for all the social media platforms before posting an affiliate link.

As a general rule (that you might like to adopt as well) I would never recommend a product or service that I wouldn’t use or trust. If there are any tools and services we recommend it’s because we use them ourselves in our business (like our funnel builder Click Funnels or CRM Active Campaign) or other ebooks or resources that have been instrumental in helping us grow.

CREATING CONTINGENT SALES IN YOUR SALES FUNNEL

Profit Pyramid

This is another overlooked place where you can bring in extra money.

Some of my clients think that by offering another option or service they are being pushy – this is where they are mistaken.

You’re missing out on an opportunity (or two or three) to offer your prospect either:

(1) a much more viable option, say a down sell if they cannot yet afford your primary offer, or

(2) speed and automation ease once they have already purchased your primary offer.

The key is to choose relevant upsells or down sells that still have value and that makes sense.

Let me explain…

If your audience is not ready for your main program / service, it may be for various reasons. You might want to down sell a trial of your program, or a less in depth version that still enables your client to get a taste of the program at a high level.

And for those that have already purchased your coaching or consulting practice, perhaps they would like to fast track their results and book (an upsell) VIP day with you to kick start their coaching session.

BACK-END EFFICIENCY

People & Processes

This is super important to any business, whether it’s strictly online or whether you also have a physical location.

These days for my operations and team expert sessions for my mentor Scott Oldford’s MBA program, I help clients objectively assess whether they’re working most efficiently with their business systems and team.

Automation can be an easy win for any business. Think about the steps involved in customer service, billing, and customer fulfilment (just to name a few areas) where speed and accuracy can be vastly improved.

Very often business owners are too close to the situation to see how everything flows (or doesn’t flow) together, similar to why having someone else proofread your sales copy is ideal because they are more likely to pick up typos, strictly because they didn’t write the copy.

However depending on where you are at, there’s a very specific next best step that we need to address.

1. Launching: Need to validate your offer, target audience, pricing and business model

2. Growing: Focus on building your marketing and sales systems so that you have a sustainable and repeatable way to generate leads and sales. Plugging any leaks here will amplify your growth.

3. Scaling: Time to focus on increasing profitability with some solid systems in place based on automation, delegation and building up your core support. Plugging leaks here will increase profitability.

If you want to get clear on exactly what your next best steps are to get to where you want to be, then fill in this intake form and we’ll be in touch to let you know if we can help you with your next steps.

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3 Places You’re Leaving Money on the Table

REFERRALS & COMMISSIONS

CREATING CONTINGENT SALES IN YOUR SALES FUNNEL

BACK-END EFFICIENCY

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