So you want to make more profit in your business – right?! I mean, come on, who doesn’t??
How do you go about it?
(note that I’m talking about profit and NOT your income! A lot of people in the online business world rave about their income – forgetting to mention that er 80% of it goes towards expenses! )
There’s only three ways to increase your profit
  1. You increase your revenues
  2. You reduce your expenses
  3. You do 1 & 2 in parallel 😂
Let’s talk about increasing revenues first.
Increasing revenues doesn’t always mean signing up more clients. In fact, that’s a sure pathway to burnout because heck, there are only so many hours ina day and only so many clients you can offer exceptional service to.
That means you need to leverage your growth …
You could create packages instead of single sessions
You could create group programs or courses
You could focus on a higher end niche
You could focus on mass market…
There’s a million different ways
(Oh, I’m going to talk about some of them in the Heart Centered Summit next week! Have you signed up for it? )
Which path to take, depends on WHO you are, HOW you work best, WHERE you are in life right now, WHO your target market is, HOW they work best.. etc etc.
It’s a decision YOU need to make.
There’s no one right way.
Anyone who tells you that THEIR way is the only way is er, severely deluded!😜 Run the other way! 😂
Now about reducing expenses…
There are different kinds of expenses
There are those that are solid investments
There are those that are just water down the drain
Figuring out which expense is which kinds requires being brutally honest with yourself.
Le’ts take two simple examples
Paying a VA/team $1000 per month to send out your newsletters and make pretty graphics for you – but you’re only bringing in $2000 a month? Cut down on VA hours. Hire someone to help you restructure your packages and marketing instead and focus on increasing revenues.
Paying $1000 a month on house help that frees up 10 hours each week for you enabling you to make $2000 doing work you love? That’s a solid investment ! 😂 See how you can free up even more hours to work on your biz AND hire someone help to you with strategiest to increase revenues.
The numbers in both of these examples are teh same. The situations are different. Numbers don’t always tell the full story. You have to use your judgement. And be brutally honest with yourself.
Whether you’re bringing in 2K a month or 20K – there’s only 3 ways to improve profits
  1. You increase your revenues
  2. You reduce your expenses
  3. You do 1 & 2 in parallel 😂
What are you doing to do?
Share with us in teh comments below!
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