Building a business can get overwhelming, but it doesn’t have to be as long as you’re not getting stuck at the information overwhelm stage or analysis paralysis. Not taking action really is the death of any business. As an entrepreneur your #1 goal each day is to make money. Sometimes we forget that and find ourselves consuming too much of other people’s content! Below are three things you should be doing in your business to move it in a profitable direction.
Build & Nurture Your Audience
Cash is King, but consistency is Queen. Without consistency in your
I like to use the BATH method when it comes to finances. If you have a bathtub with only one faucet turned on (that’s your income stream) you only have one way of filling up that tub (your bank account). This is why building an audience is so important because now you have multiple people turning on that income stream for you. You’ll also want to create multiple ways for people to pay you. More on this at the end of this article.
The best way to build an audience fast is to show up. You just have to do it. This means getting over your fear of being visible, getting over your fear of public speaking, getting over your fear of not feeling worthy. People need a way to see you as the expert in your field (even if you don’t feel like one). Our visibility fears are deep-rooted in our limiting beliefs and because of that, it can feel difficult to move forward. I love helping my clients find a visibility strategy that works for them WHILE they overcome those fears and learn to show up and lead (if that’s their end goal).
Back to the BATH model. So as we know, inaction is the death of any business. Without taking the necessary consistent action to grow your business (until the momentum is strong enough to maintain, sustain and scale) inaction will cause your business to become stagnant. The water in your bathtub will eventually leak out. Clients will disappear, your sales funnel will be empty, and your revenue will dip to zero in a heartbeat. It’s helpful when you can identify what you should be doing in your business monthly, weekly, and daily. Inside my free training over at www.planforsixfigures.com, I teach you a simple breakdown for identifying those monthly, weekly, and daily tasks.
Here are a few different ways that you can nurture your audience.
1. Email Regularly
Look friend, email marketing is NOT dead. It’s one of the easiest ways to stay in touch with your audience and it acts as another channel for you to nurture, nurture, nurture! I love my e-mail community and they love me! You’ll want to be simultaneously building your list as you’re growing your influence and impact. Showing up in people’s inbox ONLY when you have an offer is not going to keep those open and retention rates high. You want to find the right balance between giving value but letting people know you’re not just there to give away free stuff either.
2. Create Content
The best way to nurture your audience is by giving them valuable content to consume regularly. This comes in many forms. For example, a freebie, coupon, lead magnet or free resource. Course creators could give away a coupon code bringing one of the e-courses they offer to a specific amount just like stores give away coupon codes for that first time buyer discount. The idea is that you give something away in exchange for their e-mail (I also suggest grabbing their name).
3. Connect & Build Real Relationships
If you met someone offline you wouldn’t immediately ask them if they wanted to buy from you, right? Start a conversation online, get to know the people in your audience.
Here is a key takeaway from this, track that interaction, put those notes inside a CRM (Client/Customer Relationship Manager). HubSpot CRM is a free one you can use. Tracking this is important because from here you can decide who is a cold, warm or hot lead. You can then start to get a better idea of how close you are to having your true 100. Your true 100 is a group of 100 people who are willing and ready to buy from you. Inside my business coaching membership, Six-Figure Business Booster I give you a customized CRM tracker to help you track your Instagram leads. There is also a checklist for each lead segment (cold, warm & hot) that helps you identify what to do to turn a cold lead into a hot lead and land the sale.
Work on Your Offer
Whether you already have an offer or you’re looking to create one you have to start with the end goal in mind. How much are you looking to make per month? How about per year? From there you start to get a feel for how many services or products you’ll have to sell. Your offer is going to be what brings you to the financial freedom you’re looking for.
As you’re building your audience you’ll want to take note of the issues your audience experiences, what are their pain points, struggles, dreams and desires? The simplest way to know what they want is to ask them! Try it now on your Instagram story!
Now you can start to plan out an offer, giving your audience exactly what it is that they want. This strategy is missing from a lot of business plans. If you have an online business, in order to see sales your offer should be exactly what your audience wants. When you understand the language and wording being used in your niche you’ll be able to create an irresistible offer that people can’t wait to jump on! If you’re not there yet, you should be tweaking this until you feel that your offer is selling at the level you like.
Create Opportunities
Another money-making activity for your business is giving people an opportunity to pay you. As you’re building an audience not everyone will be able to truly afford a high-end package/service/product. Some people might not need what it has to offer at the highest level even if they want to work with you. This is why it’s important to give people multiple ways to pay you. This is called a value ladder and your value ladder should be set up in a way that takes your potential client/customer through a memorable transformation, whether that be a $7 dollar e-book, a $49 dollar workbook, a $297 e-course or a $10,000 package. Give people several ways to pay you to ensure you’re not leaving money on the table.
There are three money-generating activities + a few aligned action items to get you going! Inside my latest training HOW TO CREATE A SIMPLE SOCIAL MEDIA BUSINESS PLAN FROM SCRATCH I help you clarify your business plan strategy so you can convert your content into cash flow, generate leads from social media, and increase the relationships you have with your audience. The next class starts soon! Sign up here!
About//Jodi-Kay Edwards is a mindset and business coach for high-level early-stage entrepreneurs who want to understand the strategy and technology behind building a six-figure business online. Read More