“The longer you’re not taking action the more money you’re losing.”
Carrie Wilkerson, author
When it comes to making that money in our business, most of us need very little motivation. For some, the idea of going into business is a means of creating supplemental income to our salary. For others, like myself, owning your own business is about the purpose and fulfilling a long-term dream – a way to build wealth for yourself and your family as well as give yourself time and flexibility. Whatever the reason for getting into business, none of it would be possible if your business isn’t making any money.
So you do what you must, as a business owner, to connect with potential clients, make your presence felt in the niche and sell, sell, sell. Makes sense right? All of these activities are important to getting those transactions that bring cash into your business.
What if I told you that there are some activities which have great potential to convert into income. However, you haven’t been giving them the attention that they deserve. These are income-generating activities. These are activities that are not direct sales-related but will make the process of converting potential clients into actual clients much easier.
So, let’s get right into it…
7 Business Activities to help you make more money and get better results:
1. Your email list gets results so ADD VALUE there
I’m sure you have heard this over and over…I certainly have. So, why is building an email list important? I want you to think of your email list as an asset and insurance in one. Most of you have probably been focusing on building your social media platforms. You have been ensuring that you put out the content and that you are building your following. That’s so important and definitely, you should be doing that. I have one question to ask you though, if your preferred social media platform crashes, how do you keep in contact with those followers that you have so carefully curated?
You see, without an email list, all of your information is located outside of your control and you have no insurance. When you build your email list, you now have a curated list of potential clients who gave you permission to contact them. Your job once you have this email list, is to continue to add value to them just as you do for your social media followers. This makes it easy when it comes time to sell, to get them to give cash for more of that value.
2. Establish a follow-up process for potential clients
Up to today, you have probably been leaving so much money on the table. Why? Because you have no process in place to follow-up with potentials. I have seen it time and time again. Someone reaches out to you for an item or a service, you give them the information to purchase. What do you do next? You wait for them to take action. Or, you may follow up with them if you see they haven’t purchased. But you only follow up with them one time. That’s not nearly enough.
Now I want you to think about how you purchase from Amazon. Something may catch your eye- you may be interested in it. What do you do? You add the item to the cart but you may not purchase it right away. Why? You may be thinking over the decision, you may be looking at reviews, you may be looking at alternatives. Consumer shopping habits are pretty standard. Why would a potential customer is interested in your product and not buy right away? Because you may simply be in their ‘mental’ Amazon cart. The way you get them to check you out of there and pay is your follow-up process.
3. Check up past and existing customers (money comes through repeat purchases)
Sometimes you are so busy trying to get new clients, you are actually leaving money on the table with existing and past clients. Think about it – they have already experienced what you have to offer, they already went through the decision-making process – they are the perfect potential clients because they were already actual clients. Take the time to connect with your past and existing clients. Create a relationship with them. Wish them a happy birthday or congratulate them on some success. This is an income-generating activity that pays off like no other.
4. Create a system to curate testimonials (give your results a voice)
For too many businesses, testimonials are left up to chance. A key income-generating activity is the intentional collection of testimonials. How do you go about doing this? The answer is found in your systems. Your sales process should not end at the point of the sale. It must include post-sales activities. These post-sales activities ought to involve an email, a form or a message to get client reviews of your product or service and your customer service. These testimonials can then be shared on your pages as reviews on your products. As I mentioned, most times your potential clients are looking at reviews to buy your product or service. So if you invest time into this income-generating activity, you are more likely to get those sales that you’re looking for.
5. Intentionally seek referrals so that you make more money
Apart from testimonials, you should definitely be seeking referrals from past clients. Again, they are already sold on your product. This is a way to take that word of mouth marketing to the next level. Just like you should create a system for testimonials, you must create a system to curate referrals. Here’s a tip – you can actually have an incentive program that encourages past clients to refer your products or services to friends, family, etc.
6. Network with other likeminded business owners
In business, we are most focused on getting clients or getting collaborations. So much so, any connections that don’t fit into those categories don’t get your attention. Honestly, though, entrepreneurship can be such a lonely journey at times and that alone can be counterproductive to income-generating activity. Take the time to network with other motivated, like-minded entrepreneurs. Become a part of entrepreneur-based communities. Because, in environments such as these, you get the benefit of business inspiration to keep you motivated. Also, you are exposed to a wealth of experience. This experience can help you to be better at finding your niche, landing your sales, and growing your business. Success is built in community.
7. Volunteer your voice to suitable spaces
I know this may sound strange. But sharing your voice on different platforms can help you make more money because it gives you real estate. What do I mean? Sharing your voice helps you build your authority. Also, it puts you in front of more diverse audiences than you would reach on your own. It helps you to build your network. You should be actively looking for opportunities. Opportunities to the guest podcast, be a guest speaker at a conference, or a guest on another entrepreneur’s page. This even works if you sell products. You can speak on how you deliver high-value customer service experiences, high-quality products, or your entrepreneurial journey. So, lending your voice to these conversations helps you to convert sales (sometimes better than a direct sales pitch). Why? Because people buy into people first and then the product.
So there you have it! Seven activities so that you start making more money now and more effortlessly. These activities have worked for me and I am certain they will work for you.
Leave a comment below, let me know your thoughts.
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