If you’re like most of us, you started your business to do what you love AND make a living. But you probably want more than just paying your bills. I’m guessing that you want to make serious bank at what you do. And you know what? I don’t blame you.
Unfortunately, too many of us start with big dreams of massive expansions in business and revenue, only to end up hovering in the neighborhood of $30,000-40,000 a year for years on end.
With all of the blood, sweat, and tears that go into running a business, after a while that might feel like a pretty lousy return. It might even make you entertain the notion of giving up, getting a J-O-B, and letting someone else do the heavy lifting.
If that’s where you are right now, listen up. You don’t have to give up your dreams in favor of a life that is more “realistic.” There are ways to turn up the heat and jumpstart your business, no matter how deep in a slump you might feel. And with a minimal investment of time, energy, and money, too.
You see, when your business is hot, you’re inspired and motivated. The good energy is flowing, you’re in sync with the market, and pleasing your ideal clients is a breeze. The hotter you are, the more qualified leads, ideal clients, and dream team members show up for you. This ultimately translates into happier clients — and explosions in revenue.
But what if your business is feeling more like yesterday’s leftovers instead of a five-star meal? When you’re in a slump, it’s easy to fall head-first into that downward spiral. That negative mind-chatter steps in and before you know it, you’re wondering if you’re just not cut out for this entrepreneur thing.
Don’t let it come to that! I’ve got some easy ways to inject some adrenaline into your business and get your mojo going again, no matter how things seem.
Turn up the heat and revive your business STAT with my top six slump busting tips!
Tip #1: Get social (Or Update HOW You Get Social). Whether you like it or not, social media isn’t going anywhere. If your business is not active on at least one platform, it’s time to take the plunge. You don’t need to be on everything from Snapchat to LinkedIn to Pinterest, but be on SOMETHING. Different businesses require different platforms, so consider where your ideal clients hang out and start showing up regularly.
One other tip: tailoring your business social media presence is a must. Posting pictures of your cats and dogs aren’t going to sell your products or services (unless of course, you sell cats and dogs!). Sure, you can include your personality when you’re posting. But use your imagination and creativity to relate what you post to what you sell.
Tip #2: Ask For Referrals. It might seem like an obvious one, but about 80% of salespeople and entrepreneurs just don’t ask. And if you’re looking for new leads, referrals from happy clients are low-hanging fruit. Best of all, they don’t cost you much more than a referral fee (if you offer one) and the courage to ask. Don’t hesitate to ask for what you want. After all, you have a 50% chance of being pleasantly surprised!
Tip #3: Make Your Subject Lines Catchier. You didn’t take the time to write an email that nobody is going to open, right? That’s why you need an eye-catching subject line that stands out in an overcrowded inbox. Do what you can to make your subject lines as snappy as possible so that your subscribers want to hit “open” rather than “delete.”
Tip #4: Recognize What You’ve Already Got (Your Current Clients!) We all want to get new clients. But too many times, “in with the new” is the ONLY focus. As irony would have it, often the best place to find something new is by looking at what you already have: your current client base. I’m talking about your most devoted fans, the ones who more than likely provide the majority of your current revenue. Not only do these clients make up your foundation, but they’re also the ones most likely to give you quality referrals, too.
So don’t get so wound up in what you don’t have that you lose sight of what you DO have. Treat your best customers and clients like gold, and they’ll do the same for you.
Tip #5: Create a Mental Movie For Your Prospects. How do you want your potential clients to remember you? What feelings, visions, and potential for the future do you want to create for them? It’s all about how someone remembers you, and most of all, how you make them FEEL. That’s what I mean by “mental movie.” What do you want to leave them thinking, feeling, and seeing in their mind’s eye?
For example, when you watch Coffee Is For Closers, listen to Success Unfiltered, or connect with me on social media, what takeaway do I want you to have? I hope that you think to yourself, “Wow, Michelle knows how to sell without being pushy or sleazy! She makes sales sound like fun!” I want you to have a vision of what loving the sales process can do for you, your business, and your life. So the experience that I envision you having is my “mental movie.”
You can do the same thing for your target audience. Envision how you want your ideal clients to remember you, then show up in a way that inspires those visions for them.
Tip #6: Find a Sub Niche Within Your Niche. My specialty is teaching people to love sales. But more specifically, I cater to entrepreneurs and business owners that sell high-end services between $3000 and $30,000 who are ready to focus on quality over quantity. That is the sub-niche of my niche, and it’s where I put most of my focus.
No matter what you’re selling, there are more specific tribes within the tribe that you already have. What is the best way to find them and create products and services even more tailored to their needs? Just ask…and listen!
Chances are that what you currently offer covers about 80% of your ideal client’s needs. If you listen to your clients, you’ll probably find new ways that you can serve them even further, not to mention surprising and delighting them! By listening, learning, and taking action, you can create additional products and services that will truly blow your ideal client’s minds (and create customers for life)!
Now that you know how to revive your business, what specific steps can you take to get out of the slump and get the cash flowing again?
Here are just a few ways you can sweeten up your sales revenue:
Bundle or Add Services and Products. Did you find a sub-niche that needs to be served? Use what you learned to create a service that can either stand alone or be added to a current package. It’ll add energy and uniqueness to what you’re already selling.
Create Subscription Options. If you’re good with autoresponders, setting up subscription services based on what you already offer is a relatively low-stress, sustainable income stream. For example, one of my clients is a high-end boutique gym that offers a subscription service for optimal nutrition planning. It’s a way to enhance the client experience, and it doesn’t cost the business a lot of time or cost to set up.
Create a Premium Package. If you’ve been playing in the $300-$600 range for your monthly services and working with 100 people, consider this: What if you could double your income and cut your workload in half? It might be time to create a VIP premium package and make it for your MOST ideal clients only.
That means putting together the ultimate client experience, taking on fewer people, and making the price reflect the value. Quality over quantity.
Have a Limited Time Offer Promotion. Have a new idea that you want to put out there without investing a ton of time and money into a full-on launch? How about creating a limited time offer that allows you to share something new, test the waters, and catch your ideal client’s attention? This serves two purposes. First, it makes you take quick action on an idea (which is ALWAYS the way to go when inspiration hits). Second, it doesn’t cost you a lot of time, it’s quick market research, and you just might bring a few new clients and some fast cash while you’re at it. There’s nothing to lose.
Raise Your Prices! It’s the most obvious one of all, but can also be one of the hardest to implement. But remember: you have to own your value and your worth. You have to be your biggest fan. If you don’t know your value, how will anyone else? So know your value. Own your worth. And charge accordingly.
Everyone has ups and downs in business. If you find that your business is feeling like cold toast, give any or all of these tips a try. They just might provide the spark that’ll start the fire to ignite your business (and your sales)!
Has your business gone cold? What’s keeping you stuck, and what can you do to get your mojo (and your cash flow) back on FIRE? Click HERE for my NEW Quiz, “Has Your Business Gone Cold? A Quiz To Help You Bring Back The HEAT!” Don’t let business slumps stop you! Get the fire burning again TODAY!
Michelle, these tips are fantastic! Great ideas and simple to implement. I’m going to implement a few. Thank you for the great insights.