3 Ways To Double Your Income THIS Quarter As An Entrepreneur

You’ve heard before that there are only 3 ways to grow a business (and it’s true) as an entrepreneur.

  1. Get more customers or clients.
  2. Make existing customers and clients buy more often.
  3. Increase transaction size (raise your prices!)

Within these 3 is vastly more than most clients realize.

This is why revenue CAN double and triple so quickly.

When you’re so close to the action, we are often seeing but not SEEING, hearing but not HEARING.

First, stop thinking “competition” and start thinking “domination.”

Triple the effort on everything you do with your business, especially in untapped markets under your nose.  Your competition IS NOT doing this.  A focused, singular, action-orientation will usually set you apart by itself.

And it’s what will make these 3 suggestions actually work for you.

PRO TIP: The 90-day time frame is not arbitrary. I’ve discovered that the 90-day focus has produced the greatest strides in my businesses.  One-year, three-year and even five-year plans and goal-setting are fine, but the 90-day sprint is something that the brain can latch onto more easily. And the tighter timeframe tends to translate into more action and strategic implementation.

Like EVERYTHING ELSE I TEACH, what I’m about to give you requires that you BE a commitment to it.

Once you have decided THAT, get started with these 3 focused activities:

1) The List You Forgot You Have

Let EVERYONE know how you serve.

I’m surprised at how many of those who come to me for help have friends and family still left who DON’T EVEN KNOW WHAT THEY DO.

Do your friends know what you do? Does your family know?

Write out a “reconnection” email and start getting the word out to everyone in your network.

Start with an apology for not staying in touch.

Ask what’s going on in their world.

Then share a little of what’s going on in yours.

Wait to hear back.

When they reach back out, then elaborate some more on what’s going on in your world (some results your getting for clients) and then ask if anyone in their world might be interested in getting the same results.

This ONE STRATEGY could change your business… even if you only spend 20 working hours doing it.

Next, reconnect with past clients who got great results with you.

Tell them you want to give someone else the same results by offering a FREE TASTE of what you do… as a gift from them.

Maintain your exclusivity by not cheapening yourself.

Assuming you are using some form of exclusivity, remind them 1) this offer you are giving their friend invitation-only through trusted past clients. And 2) it’s to be offered as a gift from the past client you are speaking with, honoring their existing relationship with you.

Referrals using this method can open more doors you’ve left untapped. It’s an 80/20 move.  Your best advertisement is your current “avatars” — past clients that represent what you accomplish for others through your unique ability.

But something that often happens inadvertently:  past clients start to find reasons to sign up with you again.

2) Transaction Size Goes Boom

Second, raise your prices. With most of my clients and friends, raising their prices requires only that they get out of their head-trash and make that bold decision.

But it yields these results: 1) elite positioning, 2) elimination of time-suck, hyper-critical clients and customers, and, 3) more money with less effort.

Enough said.

3) Convert More

The answer to all the wrangling in your head (and that’s the ONLY PLACE the problem exists, by the way) about raising your price (a.k.a. what I just said above, succinctly) is getting more people to convert into paying customers at whatever the price.

That happens with one conversation for most of my clients.  Because when you are high-ticket, you’re closing over the phone 95% of the time. Which means optimizing your conversation is the key to making the sale.

Here is the paradigm that can solve most problems.

  • Your prospects only care about themselves. Act like that’s true.
  • Your prospects only care about the results they are after in regards to themselves. Act like that’s true.

Delete from your language all the ego-stuff about you that you feel the prospect “just hasta know!” about you and what you do… but only distracts from the sale.

Focus on them.

Think about only them.

Feel only THEIR pain, THEIR frustration, THEIR lack.

Serve only THEM in those moments.

I like to think of sales as the ability to gracefully persuade, not manipulate, a person or persons into a win-win situation. – Bo Bennett

Make the conversation as deep and powerful as you can.

Listen in confidence. Then you’ll speak with confidence.

And the more you hear and “feel” their GAP, the more you can confidently sell into it, without even selling…

… because you and they will see clearly that the price they will pay you is so much less expensive than NOTHING CHANGING in their life.

Lean into mastering the empathetic sales conversation and experience more “yes” than you’ve been getting.

When you combine the higher price with showing up POWERFULLY with the prospect, in the moment, they experience something that is innately “higher end” that they can’t get anywhere else in their world. You’ve immediately taken yourself out of the world of “commoditization” and into the world of unique, meaningful, soul-shifting EXPERIENCE — which is what people happily pay for the most and most often.

Putting It All Together

Combining everything I’ve talked about here, you can increase revenues faster than you thought possible.

Commit.

Take action.

Serve with empathy and passion.

Stand unwavering in your value because of the transformation you confidently bring.

Work on this EVERY DAY.

And enjoy the rewards.

 

Scott N. Smith
Scott N. Smith
Scott N. Smith is a master coach and mentor. Speaking, training, coaching and leading leaders to help them grow personally, financially and organizationally.
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