How do you make more money without trading time for dollars? Finding out what your customer needs will tell you what kind of revenue streams you need to add to your business.
And at the end of the day, most of that is going to come from your customer saying NO.
Focusing on multiple revenue streams will save your bottom line.
When I opened my first business, I thought I knew business. But really, I just had a lot of ideas that didn’t hold up in reality. Many coaches are just not selling enough. They think the act of selling products is as dirty and slimy as the old idea of selling used cars or stolen watches in a back alley.
The reality is – it’s necessary to increase and track out sales. Think about your business and what you can offer other than your time. You want your business to increase and profit over time.
Think about your business – what can you offer OUTSIDE of just your time?
Look at how you can leverage every single client every single time. For many of you, that will include retail products.
Remember, retail can mean physical products, books, webinars, or anything you are selling outside of just your time.
When a client says “no”, what does that mean for you? We tend to think is means we did something wrong, but they may just not understand your product or the value. Objections are just tools that lead to the inevitable Yes.
Find out what is missing for them to make a powerful decision, either way.
Emphasis and explain the benefits, but don’t sell them more than they really need. Don’t sell the client more than they really need and don’t ever say never to a sale.
Even if they leave without a purchase, those benefits will sit in their mind and they will return when they’re ready. Many times, those people who said NO in the first round become our best clients.
When you’re looking at what products to add to your product suite, you need to go back and look at what your clients need.
In reality, all of the products I have created in my business have come from what my customers needed. Find the need, fill the need.
The best way to do that is to go and ask your clients. Use the feedback you’ve received from those who have said no and go deeper with the people who have said yes.
What else can you add to your product suite to leverage?
Don’t try to add 5 new products all at once. Start with one product and go for it. Then once you have that foundation, add another one. And then another one.
By leveraging and expanding your product suite, you’ll be able to better serve your customer AND add new revenue streams to your business.
All without just trading time for dollars.
Your Partner in Prosperity,
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