3 Ways to Increase Your Income
Want to make more money in your business? Then keep on watching ’cause we are going to discuss three ways to increase your income. And be sure you stay to the end because at the end of this video, I’m going to be sharing with you a free gift that will help you get more clients.
Maybe you’re just starting oyur business and you need some cash flow so that you can quit that nine tofive. Or maybe you have a stable business and you just want to scale it up further. Or maybe you want toleverage your attention and further expand your offerings. Whatever your reason is for wanting to createmore income inside of your business, we’re going to take a look at three different ways that you can do sotoday. So let’s dive right in, shall we?
So the first way that you can increase your income is to sell high-ticket services and raise your prices. Now you might be thinking, “Duh Heather. Well how do I do that when everybody else is charging just about the same as what I do? I can’t just go ahead and double my prices. Can I?” Actually, you can. The way that you do that is to niche and specialize your offer.
Let me give you an example here. Let’s just say that you are a local wedding photographer. So wedding photographers already charge a pretty premium price tag for the service that they provide. But, let’s justsay that you have a very unique and special editing style that people fall in love with, and maybe som eother people really hate. When you niche and specialize and have this real uniqueness about your offer, it allows you to stand out. And now instead of price shopping, people will want to come to you for a very different reason.
So when you niche and you specialize, you wan to make sure that your offering something that is going toattract and repel. For example, inside of our Client-Hatching Formula Program, we teach people how tosell without a platform. So we teach people to go out there and be able to sell their offer before theyamplify it with marketing. Marketing actually becomes step four in the process, not step one in theprocess.
Now some people come to us and they’re like, “We want all the sexy marketing things.” And we’re like,“Cool, we’re probably not for you. We can teach marketing, we actually have a marketing masterymentorship program that we teach. However, if you can’t close the deal then all of those leads that cometo you from marketing don’t mean boo. And also, we don’t want you to become a slave to our platform.”So that is our very, very specific niche, is helping people who don’t want to become a slave to thealgorithm. When you do that it allows you to stand out and it allows you to really niche down andspecialize and to set the prices that you want to set.
Now if you want to know more about our Client-Hatching Formula Program, which teaches you how tobuild a high-ticket, high-value offer and sell it with a lot of love and without all the awkward, then use thelink in the description box below to message me and just say, “Client-Hatching Formula.” And I’ll shootover all of the information in Messenger.
The second strategy to increase your income is to increase the number of units that you sell. So in order toincrease the number of units that you sell, I don’t really have a lot of time to service that many people. Sotime is a limited resource, right? This can work really, really well for people who are in the coaching andconsulting area where you can move to a one to many model. So instead of coaching people one-on-one,you could instead coach people one to many.
Now the trick to this is that in order to get the same level of results for people, you need to be able todevelop a really strong process to move people from point a to point b. If your process is different forevery single person that you serve then you’re not going to be able to scale it in this way. So it’s very, very,very important that you have a single process to move people into the result that they come to you for.
Now you might also be in an area that doesn’t allow you to serve one to many. That’s okay. You can stillimprove the number of units that you sell when you scale through people. Now this can be really, reallyscary to a lot of us because many of us think that we’re special and we’re unique in what it is that we dofor our client. But the fact of the matter is that we can teach the things that we do. We are not thatparticularly unique that we can’t teach what it is that we do. And if we can’t teach what it is that we do, it’sprobably because, again, we don’t have a process that walks people from point a to point b.
So the first thing that you need to do is really take a step back and think, “What is my process with myclients? And if I don’t have one, I need to create one.” That is the only way for you to scale is if you havea singular process to work clients through. So let’s just say that again, you’re a coach and you might bethinking, “Well I can’t teach others to coach people in the way that I do.” Here’s the fact, if you canactually teach your clients, then you can teach other people to teach your clients. That’s a truth bomb.Okay.
Many of you might have a specialized artistic skill where you’re saying, “Well I can’t duplicate or have somebody else replicate my artistic talent.” What you can do though, is you can hire out other people todo the sales portion and to do the fulfillment portion, so that it frees you up more time in order for you to make your creations and to spend time creating. You could also look at things like prints. How are you able to get more skews out there? How are you able to get more products out there in the same amount of time or less amount of time?
The third way that you can increase your income is to improve your average revenue per client. Now thisis my favorite way to do it because it doesn’t require you going out and finding more people to serve. It isa lot easier to sell to somebody who has already bought from you and to improve the amount of moneythat they’re spending with you over time. So you might be thinking, “Well how the heck do I do this?”Well there’s a number of different ways that we can do it.
Number one, we can improve the number of revenue sources that we have for that particular client. So forexample, we can include things like affiliate marketing. Let’s just say that you are able to recommendother products or services that compliment what you’re offering. You can get paid an affiliate commissionsay through Amazon Affiliates, where you’ll make about 10% on anything that they buy by clicking yourlink. They pay the same amount of money, but you get a bit of a kickback for recommending thatparticular product.
You can also look at different ascension offers. So what is the logical next step for your particular client? For us, now that they know how to sell, they need to know how to systemize their business and also how to market their business and put it on a platform so that they can accelerate their growth. So once they’re able to get their core offer down, and once they’re able to get their conversion systems down, that means that they’re getting clients. Now they need to learn how to keep the clients and also how to amplify the results of their entire system so that they can grow and scale.
If you are a chiropractor for example, the logical next step might be that once you get your back fixed,that massage is something that will help you to really keep your back in good health. So that might be anascension offer that you could offer through a chiropractic office.
Always be thinking about, “What is that logical next step that I can take people through? There is a logical next step with just about anything that you buy. For example, car dealerships do this all the time, you buy a vehicle and they sell you a maintenance package, so that you continue to come back and bring money back to that dealership through your service package.
So you might be thinking, “Well, this is all fine and dandy, but how do I find those extra clients?” Maybe you can put step number three into effect right away, but you’re thinking, “I would also like to do number one.” Which was increase your pricing, and number two, which was to improve the number of units that you sell. But you might be thinking, “Well how the heck do I find people to sell this stuff to? I’ve been trying marketing for so long.” And maybe it’s not working for you and you’re frustrated.
So I wanted to let you guys know about a free training that we’ve created. It is a free training about how to book more sales appointments. We call it The Prospecting Training. We have that totally free for you. You do not have to sign up for anything. You just need to go on over to heatherprestanski.com/prospecting. At the end of that call we also have another free offer for you if you’d like to get a bit of free coaching with us. So head on over to heatherprestanski.com/prospecting and we will see you guys inside of the next video. Thank you so, so much for watching. Bye for now.