Are You Ready To Increase Your Monthly Revenue?
The burning question on everyone’s lips… How do I increase my income?
I’m going to cover 6 simple steps you need to follow to increase your monthly revenue exponentially! By implementing these easy-to-follow methods along with the proven marketing techniques, you’ll be well on your way to driving up your income and having your greatest-ever month in revenue.
Step 1 – Revenue Goals
First off, write down your revenue goals for the month. It is so important to have clear, outlined goals when you’re trying to reach new levels. Work out what your revenue goals would be for next month and write them down.
You want to base your goal on the following month, to allow enough time to implement the strategies. So if we’re planning on earning our dream revenue in January 2022, then we would begin to implement the following methods in December 2021.
Step 2 – Your Existing Menu
Draw a grid on a sheet of paper with 4 columns and label this ‘Your Existing Menu’.
You want to cover your service or offer, the cost of this, who your target audience is and your top 40 (I’ll explain this in step 4). Like a menu at a restaurant, this is a visual aid to see what you offer.
On the grid, list out your top 5 current offers or the product you sell in order of the highest price first. So if you had a coaching program for example, it could be your one-to-one coaching, then maybe a mastermind, and then your group session. You may offer something a little more bespoke, so try to average these prices out, but always with your highest first.
Step 3 – The Breakdown
For each of your items, divide your revenue number by the item price to come up with your client number. So an example formula would be:
30k Per Month (revenue goal) DIVIDED BY 5k private coaching session (item price) = 6 (no. of clients needed)
That simply means that if you were to reach your revenue goal for the month, then you would need 6 clients to fulfill this. Once you have done this for each item, add the number next to each relevant offer or service in your grid.
Step 4 – Your Top 40
Now grab a separate piece of paper and make a list called your ‘TOP 40’.
On this sheet, you’re going to brainstorm the top 20-40 people in your current CIRCLE that are most likely to say yes to you if they were presented with the right offer, incentive, or invitation.
With this information, go back to your grid and beside each menu item, write the names of people in your TOP 40 that may be interested in each opportunity.
Step 5 – Your New Menu
Using the same grid format, duplicate your original grid and label this ‘new menu’.
Now, this is where your creative thinking comes in.
Your mission is to curate new offers that you can create for people in your circle where the invitation happens this month, and delivery starts next month.
So what does this actually look like and how could you offer this? There are many ways you can think to repackage your services.
Below I’ve broken down one simple method into 3 parts to drive up your income and have your greatest-ever month in revenue.
This technique has worked for businesses all around the world and will work for you too with the correct implementation.
- Raise Your Prices.
Now we know what you’re thinking…
But simply raising your prices for an existing item or service in the near future, and then using the price increase as an incentive for someone to join TODAY at the current rates can be really effective. By doing so, you’re creating the fear of missing out and urgency to buy.
- Create Resonance In Your Invitations.
A common mistake we see entrepreneurs make is they talk about THEIR solution and make it all about THEM. It can be hard to hear but it’s so important to remember it’s all about THEM and not about YOU.
Your dream client has huge ambition and plans for their future, and it’s your job to bridge the gap between their dreams and your services.
Show them how you can get them to their dream and you’re onto a winner.
- It’s All About The Follow-Up.
Did you know that 80% of sales comes not in the initial offer, but the follow-up! So many believe that when a potential client doesn’t say ‘yes’ they mean ‘no’. When in reality it could simply mean not right now.
Once you’ve had a chance to think this through and how it could apply to your business, simply add your potential new offers or methods into your ‘new menu’.
From here, you can complete the rest of the grid in the same way as before, with your pricing, your top 40, and client number.
Step 6 – Big Fat Yes
Finally, rank all of your menu items from 1 – 10 in terms of:
A. Which will be the easiest to execute?
B. Where are you most likely to have people to say yes?
C. Which has the highest revenue per relationship?
And there you have it, your ready-made revenue accelerator outline is ready to go!
If you’re interested in learning even more techniques including step by step playbooks to implement and would like to join The World’s Largest Community of entrepreneurs who are on a mission to build our dreams, share our gifts & change the world, then click the link below to get started for FREE.