OK, so you would like to make more money in your business, who wouldn't right?
Whether you are planning to help more people or have a bigger impact by getting your message out or even just treating yourself to a well earned gift, it is always helpful to have money available.
To be successful long term in business and in life, money definitely can't be your focus but if you haven't embraced money as one of the things you would like in this world the chances are lack of money is keeping you small and holding you back from doing the heart felt things you would love to help others with.
The good news is making more money in your business is simple. There are 3 distinct ways.
3 Ways to Make More Money in your business
Increase Your Prices
Sell More of Your Products or Services
Attract More Paying Customers
So if it's so simple why doesn't every business have more of everything they want?
The simple answer....
Everyone has their own way of thinking, their own model of the world but the difference between those that succeed and those that fail (or have a long hard learning experience) is, when they look at these three strategies, those that struggle ask themselves "HOW can I..." ....and those the succeed focus on just the intention of that out come.
It's not that the people that succeed know what to do, in many cases they don't but they approach the outcome with the view that they will find a way.
Now I would like to take you a bit deeper into each of these.
Lets Go Deeper
Increase Your Prices
Is it that simple? - Yes BUT, increasing your prices is an inner game, it is more to do with your mindset than it has to do with the mindset of others.
A few years ago a business owner came to us for help. After they started our coaching they revealed to us that although their prices were at the top end of what the "market" was charging, they hadn't increased their prices in 10 years, they were struggling to pay the bills and their own accountant had recommend they file for bankruptcy.
So why hadn't they put up their prices? Because they were too afraid to lose a single client and their account felt they would price themselves out of the market.
Unbeknown to us our client had used a loan to pay for our coaching, confident that with our help they could turn the business around. This move upset the account who had halved his prices to "help out!" his struggling client.
With our help our client recognised the value they were offering which was different to the "market", increased their prices with confidence and let go of two clients that were actually costing the business money.
With this move the business attracted more clients at a higher level and lost very few resulting a fast turn around. It also resulted in our client being able to help change their accounts mindset around their business so he was able to support them grow again.
Was this a case of just putting their prices up? No. This took a process that we walked them through to see their relationship with money and their clients differently!
Sell More of Your Products or Services - Whether you sell more comes down to how to see yourself and your offering in the market. Sometimes you can do better for selling less.
Did you know many of the exclusive brands in the clothing and fashion industry actually prefer to burn their stock than sell it at a reduced price?
Why? Because if the market was flooded with last seasons range at a reduced price the brand itself becomes less exclusive meaning they would sell less to those that want something exclusive next year.
Attract More Paying Customers - This is an interesting one for many people.
Did you know, in general people fear public speaking more than death itself and although you don't have to necessarily do public speaking to attract clients and customers the feeling of drawing attention to you can bring up a lot of unprecedented fears for many people.
So, although many people would like to see their business grow they also can feel conflicted deep down with a subconscious fear of not wanting to draw negative attention towards themselves.
I spent many years in Australia and over there they often talk about "tall poppy syndrome" where people love to support the underdog but the underdog doesn't stay the underdog with all the support. So the flip side of this is people also like to pull people down who they feel are growing too "tall".
So attracting more customers for some people can bring up the fear of being seen as getting too tall.
Changes like these can can make a huge impact to our business but we can often be held back by our thoughts and feelings when we try to do these things alone.
If you prefer to do this with us, please feel free to get in touch to see why we can help you make 2020 your best year yet!
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