What business makes the most money?
It’s a business that has smashed through breakthrough strategies.
Often, this is where the missing pieces lie.
These fundamental breakthrough strategies are key for success as a business owner and help business owners be more productive and profitable as they grow.
Mindset:
- Take complete responsibility for your results.
- Stop blaming everyone else or your circumstances.
- Eliminate your limitations eg. I can’t do it or It won’t work for me or I’m not good at
that. Be aware of it and then change it. - You can make money, or you can make excuses. Your decision.
- Get clear on your WHY as that will continue to motivate you.
- The cost of ignorance vs the cost of education. You don’t need to do it on your own.
Invest in yourself. - Be a person of ACTION
For me, here is where I identified that my mindset, money mindset, self-belief, self-talk, limitations, and trust all still needed some work. So, I constantly am checking myself and working on it.
Marketing:
- Get super clear on your audience and where to find them as its expensive to market to everyone.
- A lead magnet can improve your website conversion to 10-25% vs those with no lead
magnet of 1-3% - Less on your landing page or you can lose them
- A marketing strategy should have at least 4 legs to balance and can improve your
website traffic by 400%. (My HOT leads on repeat program will cover the creation of
this) - Test and Measure (and I say Tweak)
Yes you may not be good at it or don’t enjoy it, but your success comes down to how good your marketing is.
Sales:
- If you are negative about making sales, you’ll make less sales
- Money is in the follow up. Have a CRM and follow up process
- Include videos to position yourself. Conversions up 11%
- Use social proof everywhere
- Magalog (magazine and catalogue): 42.5% conversion with less sales time. Include
success stories, handle objections, education and product information.
Consider that you are not selling to them, you are servicing them. Focus on helping them to make the decision that this is for their benefit. Of course you have their best intentions at heart.
Systems:
- Save Your Self Time Energy MoneyAsk yourself “will I ever have to do this again?” and create a system for it
- It is not faster if you do it yourself
- People can do it like you do it, if not better (when you have a system and strategy)
- Start by mapping out what’s in your head (https://www.mindmeister.com/ ) I call it a
braindump. - 20% of your time is spent on income producing activities (WOW)
- Workflow: Try https://lucid.app/ or https://miro.com
- I use https://trello.com/ as a project management system
- https://tango.us/ records your workflows
If you don’t have a system, then you are the system.
If you could do it on your own, then you would have already.
Opportunities are never missed; they are just picked up by other people.
I learnt this the hard way when I got the opportunity to travel around Australia and train business owners in social media management for client generation. It was a dream come true; however, I still had to service my clients, handle enquiries and manage my team whilst travelling and presenting. The need for improved systems became super evident.
Outsourcing:
- Recommended to have local and virtual
- Ill share with you a list of what you can look to outsource (if you have the funding to
do so. Profit First suggests that businesses earning under $200 000 per year should
only spend 15% on staff – outsource responsibly)
I believe there is a season to outsource and a season to invest in yourself. If you want to be a business owner, then you need to own your business. In chatting to virtual assistant business owners and digital marketing agencies, they all agree, the business owner must have a marketing strategy and know what they wanting to achieve with a good foundation, or it makes it impossible for them to succeed.
Leadership:
- Write a 5 year vision for your business
- Develop a mission statement that inspires you
- Create you company values
- To be successful as a leader, it comes down to education, getting a coach and your
environment.
It is imperative that as your business develops and grows that you work on becoming a good leader. It will help with staff and customer retention.
With regards to long term planning, I personally struggle with it as I’m an activator. I act and then figure it out along the way as I feel into things. It has always served me well. So instead, I focus on the feeling of what I want in 5 years.
Technology:
- VOUCH is video recording for testimonials
- Google Optimise tests the images on your landing pages
- Mobimag is a digital magazine
- https://answerthepublic.com/
- Bonjoro can send people a personal video in email when they take action on your
website - Rapid reply can reply to emails with voice
What works for some may not work for you. Start with looking at the problem you need solved and then always research the tech.
Websites:
- Mobile friendly website
- Optin on every page
- Install HOTJAR, it is better than google analytics
- Add videos to the website 5-10% more conversions
- Learn about SEO
If you want your website to get more traffic it has to have an overall strategy all- encompassing of the lead generation funnel.
Social Media:
- Set up a facebook group (with a strategy)
- Leverage youtube (its google)
You have to be where people are and millions of people are using it and often. You need to remind them to check out the website and push them down the funnel.
Finance:
- Learn the basis of accounting
- Get a good bookkeeper and accountant
- Improve your pricing structure (Time based vs Value based selling)
- Improve your collection process
- Profit First principle income-profit = expenses
Wealth building:
- Create positive beliefs around money
- Keep your credit file clean
- Good finance / investment broker
Lifestyle:
- 100 things you want to achieve (I have a bucket list)
- Goals for giving back
- Create a dream book.
The coward and the hero have the same fear. The hero does it anyway.
I recommend you read or watch the video, and take note of what next action you will take from this. One small step in the right direction can contribute towards your success in the long term.