Do you have a plan to scale your sales and earn more profit? The path to growth isn’t linear, that’s for sure – but it’s possible with sound strategy, time and dedication.
This week, an entrepreneur shared her story and then asked two questions in a group (question has been paraphrased and some details have been changed to protect her identity):
In my first year in business, I made a little over $10k. That next year I more than doubled it. The year after that, we grew a bit more – and then last year, I almost hit six-figures. We’re growing. I have an ultimate dream goal of $600k a year ($50k a month).
For those of you who have busted through your financial goals, can you share some insight? What was the mindset shift or aha moments you had that got you there?
I saw her post and typed out a response. Here’s what I said:
I’ve been in business for several years now, and have averaged huge growth every year – sometimes tripling in size.
I started like everyone else, in start-up mode. I earned an OK salary. Then, when I started my 1:1 coaching, my sales skyrocketed, doubling in just one year. As time passed and I noticed specific needs in the market, I addressed them with more services my clients were looking for – like group coaching, marketing services and an online Books & Business club.
In just eight years, I’ve been able to scale my business, bring on 10+ team members and earn more profit than ever. And – we continue to grow this year.
Your path might look different for you, but growth is possible. And exponentially so, too.
How I grew my sales – in 6 ways:
Skyrocketing your sales is possible. Here is what has worked for me:
Focus on your big rocks.
Figure out what the highest-selling item is in your business, and go all-in on selling it. Too many people try and sell the small stuff and it takes way too much time and energy to build and grow that way.#SalesStrategy: figure out what the highest-selling item is in your business, and go all-in on selling it. Focus on your big rocks. Click To Tweet
Creating a recurring model for revenue.
Look at your goals. If you don’t have any – set them. You need to be able to simplify exactly how many new customers with recurring revenue you need to double your sales.
Do some math, and focus on that. By doing so, I was able to grow rapidly in just one year.
As the demand for your services increases, so should your fees.
My half-day advisement fee is not the $800 I charged back in the day. The same goes for my full-day consulting fee. As demand increases, so do your fees (and mine are due to go up again this year).
Offer ridiculous value to everyone who works with you.
Don’t provide the bare minimum. Go all in. Provide quality. It matters not only for your current clients but for future ones too. I receive an average of 1-2 qualified leads every week from existing clients.
Know what you’re great at, and let go of the rest.
Identify what tactical stuff is taking away from your ability to make big bold moves that create growth in your business and remove them. That’s right, delegate.
Focus on what you do best.#BizTip: identify what tactical stuff is taking away from your ability to make big bold moves that create #growth in your #business and remove them. Click To Tweet
Find a coach or mentor.
And not just anyone – you need someone who has already done the work and is ahead of you. You need to respect and trust them. You need someone who can help you break down your business numbers, what your marketing needs to look like and how many leads you need to convert the business sales you desire.
When you know these things and have someone in your corner pushing you to achieve them, you can get uber-focused at getting the results you want.
A note about mindset:
My next book is called Money over Mindset. I personally did not find one shred of usefulness in the Badass Money book – or any other business money mindset books for that matter. Business is a math game more than it is a mindset game.
You can’t manifest wealth from the couch – you have to create it. And that requires focus and aligned action.You can't manifest #wealth from the couch - you have to create it. And that requires focus and aligned #action. Click To Tweet
Which strategy are you going to put into action? Tell me below.
Founder and CEO of the Lisa Larter Group, master strategist, author, speaker, podcast host, social media expert, consultant, and business coach. Lisa inspires entrepreneurs and business owners to see the possibilities for their organizations when it comes to strategy. She uncomplicates modern marketing and creates (and implements) strategies for businesses that are guaranteed to increase visibility, inbound leads, and revenue.