Does it help at all? The do-able checklist to grow your service revenue without working more hours, that you received last week?
“Remember, if you don’t have revenue, you don’t have profits to live on or keep the outfit running.
It’s that simple. ”
OK, let me set this straight - simple vs. easy. Getting into shape is simple, it is eating less and exercise more. Is it easy? With that said, you have some work ahead of you. But I promise, there will be money going to your pocket!
The simplest way to increase total revenue is through higher price.
This is assuming you keep working the same hours. And I know from your - and my - painful experiences that, you only have so many hours in a day. You can’t keep working the same long hours. And in your heart of hearts, you don’t want to.
So, you can grow number of ideal clients, who can pay for premium pricing. And you can charge existing clients more.
“Sabina”, you cry, “they will leave!” Have you tried raising the prices yet? If your services are valuable to the right market, those clients who leave on price alone, do you want to keep them anyway? Who is to say they won’t leave when someone else offer $1 less?
As for growing ideal clients? Please check back on this post .
2. The second way to increase revenue is to provide more services or products.
Sell more to the same clientele (and bigger one if combined with Method #1). If you maintain swimming pools for the clients, can you sell the parts? Provide DIY video courses on YouTube for those clients far-away who hesitate to pay for you to go out there?
If you are selling services, based on knowledge or experiences you have accumulated, such as consulting or coaching, can you package those valuable nuggets of insight into eBook, guides, checklists? You can then choose to either use them for attracting your ideal clients in Method #1. Better yet, sell them to generate passive income.
3. The third way to grow your revenue is increase number of times the clients return to you.
Research shows it is 6 times more difficult to win a new client than to get an existing client to purchase from you again.
Have you been diligently serving your client and delivering outstanding services? (key: serve/service)
Have you nurtured the relationships? Send them a card on their birthdays or anniversary? Update them on industry news that may affect them?
Bonus here - an easy and simple way too… Did you ask them to return?
Each method will require change of your mindset and tweaking your current operation. It is simple, and it can be easy.
Focus on why you start your business, then get out of those busy-ness things that don’t fit your vision, but fill up your days.
Bounce ideas off other entrepreneurs, who may or may not in your field. I find talking to someone from a totally different field give me the most refreshing idea.
Get advice from trusted advisors who have seen other successful examples. Know your ABC’s – attorney, banker, CPA.
And most importantly, commit to an action plan of changes.
Change for more time, more revenue, more profits.
Change for the better.