£10,000 per month?
Swipe Up On Instagram?
A community of clients who love what you offer?
What are you focused on?
There seem to be so many things to ‘aim for’ when running a business and so little of this actually has to do with building a viable business. How often have you felt distracted, overwhelmed and like you’re chasing after something and you’re not sure it will effectively grow your business?
My motto in life and business is that when there is ‘overwhelm there is someone making money on the back of offering a ‘magic solution’.
Building a business is simple (not easy my fabulous friend) and there are some core elements that you MUST get in place and working in your favour. Your job is to understand these and then use modern methods (hello there reels, Instagram, emails etc) to meet your goals.
The Key Elements In Building A Viable Business:
You have to sort your sh*t out to build a successful business. Getting really clear on what you want in your life and how your business will give you the life you want. If your business competes with your personal goals (or you have to be two different people in both) then you’ll face problems.
From this moment on, you are choosing to be a business owner right now and need to look at your business as something you lead and not your value on this planet or your sense of identity.
To do this effectively, you’ll need to set clear goals for your business and then create a plan to reach these goals. You’ll use key metrics to track your progress and course-correct as necessary.
Some metrics you might want to track (and I know how hard it is to track these when they are small – trust me, what you measure grows): Sales, Profit, Leads, Social Media Engagement and Growth, Expenditure and Business Investments. Look at these regularly and your business will change.
2. Sales and Marketing
Do you have a clear message for your business? A message that is focused on the problem you solve? Too many businesses have a weak, mixed and inconsistent message on their social media platforms and website. Too many business owners are obsessed with overwhelm, standing out from the competition and impressing their potential customers.
Customers learn through repetition and they want a message that is centred around them and speaks directly to the problem you solve. So, be simple, clear and ensure that you have a clear call to action telling customers what you want them to do next.
Look at your favourite businesses; look at their message and how clear it is and create a ‘one line’ message for your business.
Once you have a clear message, you’ll need to develop a sales system. If your customer will buy what you offer quite quickly (hello, lower-cost products and services) this is a little easier as you present what you offer and make it easy for customers to buy (this means you share a clear call to action such as SHOP NOW and link directly to your website where they can purchase it).
For more expensive products or services (or those that are seen as more of a ‘commitment’ for customers so they take longer to purchase from you) you might want to offer a ‘lead generator,’ this is something valuable and helpful that you offer in return for an email address (grab my lead generator here) and once you capture their email you nurture them and guide them through a series of emails (2-5) where you educate them on your product/service and encourage them to purchase from you.
All of the above relies on your social media, website and email marketing system working together for the same goal – to guide potential customers through a specific journey and encourage them to buy from you.
Having Something To Sell
What are you selling right now? What products/services/classes do you have available for sale?
It is not good enough to say – I just let potential clients get in contact with me and we create a bespoke offering from there – YOU ARE SELLING A BESPOKE PACKAGE – PROMOTE THAT!
Your products/packages should be both in demand and profitable. You should take the time to talk to your ideal client and conduct a competitor analysis to see what your customers want and what gaps are in your market. Then create packages and focus on marketing them (simple, clear and consistent message) and sell what you offer.
The demand and profitability of what you offer should be tracked on a regular basis (see point one and ensure they are added to your key metrics).
4. Your Finances
Do you know your finances inside out? What your income is this month, your expenses and profit? Do you know what recurring expenditure you have in your business?
Female business owners consistently hide from their finances, citing a poor money mindset and that this is ‘just a side business’ for the reason they don’t have clear income targets and manage their expenditure.
You have to become financially aware and have clear financial targets, know what you are spending and ensure that your business expenditure is an investment in your business and not another overhead (this is what investing in a coach is a great idea).
Each month check your finances and watch them transform before your eyes.
You deserve a viable business.
Create a to do list from this blog and take action starting TODAY!