If you’re a woman entrepreneur who’s building a leveraged online business so you can keep your family first, this is for you.
As the same, I’m always looking for ways to leverage what’s already working in my business to improve my results so I can grow my business more quickly without more effort.
Where in your business could you do the same? Take this mini-assessment to find out.
__ 1. Do you know your priorities?
You need to know the highest-payoff activities to focus on in your business before you can fully leverage them for a far greater result.
If you often feel scattered, and that you’re too often flying by the seat of your pants, and you would LOVE to have a much more streamlined and simplified process for creating flow in your business on every level, it starts with knowing and focusing only on what matters.
What’s your #1 highest-payoff activity in your business today?
__ 2. Are your sales lacking?
If you’re not making as many sales as you want, there’s likely some missing pieces in your sales flow. I’m sure you know that just putting something out there online does not equal a successful offer. There are several critical pieces you need to have in place first, and then a strategy to convert from offer to sale.
What is the #1 missing piece in your sales process today?
__ 3. Do you abandon your current clients/customers?
It is far easier to sell something to someone who has already bought from you, and yet this is one of the most common places where entrepreneurs leave money on the table.
What is the natural next step you could offer to your current clients/customers?
__ 4. Do you leave your prospects hanging?
70% of your sales are in the follow-up. Don’t leave your potential clients and customers hanging just because your offer went live. Keep touching base with them, making sure they don’t feel abandoned, that you truly do want to help them.
Where in your current or next offer could you add a follow-up process?
__ 5. Do you have an “easy yes” offer?
Do you have a way to work with your market that’s an easy yes for them? I’m not talking about private work at your highest level. I’m talking about being able to experience your work in a way that leverages your time yet supports your client as well?
What simple product or program could you create that walks your client through your process in a do-it-yourself way?
These are just 5 areas to be looking at where you could up the ante on what you already have in place in your business – or what you should have in place to create the success you desire. We’ll cover 5 more in Part 2, but in the meantime, spend some time figuring out for yourself where you can apply the above to start seeing better results for less effort.
If you want to know where you’re not leveraging in your business, be sure to get my free mini-assessment here
I’m a believer in creating your own luck (thus why I don’t buy lottery tickets).
Actually I don’t usually use the word luck because I think it’s too easy for people to use it as an excuse, and not in a positive way.
I’ll share something personal here – I bristle whenever someone says to me how ‘lucky’ I am to have such well-behaved kids. Don’t get me wrong – I know how blessed I am to have two happy, healthy, whole kids. No one is more grateful for that than I am.
And yet, that comment (and similar ones) always comes across to me as if James and I had nothing to do with it, that it’s the luck of the draw that we have well-behaved (most of the time) children. Are you kidding me?
It’s the same thing in your business. I’m not ‘lucky’ to have a multiple 6-figure business. I created it, I earned it. And I did that by doing 4 things consistently:
I’m always learning something new or re-learning something I already knew. If you’re not learning, you’re not growing. If you’re not growing, your business won’t grow. The more you grow inside, the more successful your business will be. So whether I’m learning a new marketing tactic or studying ‘divine success’, I know that learning will ultimately show up in the success of my business and my life.
Of course if you don’t implement what you learn, what’s the point? I implement more often than most, which shows up in my success. I’ve also learned to delegate much more to my team which means we collectively get a lot more done. My coach’s request to you is to pick one thing you’ve been meaning to implement, either choose to do it yourself or decide who to delegate it to, pick a completion date and get it done!
You can’t create a truly lucrative business without leveraging as much of your time and your talent as possible. One way I do this is via my ‘3+’ rule. Whenever I’m trying to decide whether or not to implement something, I ask myself if I’ll be able to use whatever it is I’m considering in three or more ways.
A simple example of this is writing articles about my area of expertise. When I first started out, we would publish the articles in my ezine, make them a blog post, and submit them to article directories. Now, we do those three things as well as post a podcast, submit that to podcast directories including my Artist’s Page at iTunes, submit it to niche publications, and more.
4. Mentoring (with and to)
I’ve had at least one mentor since I was 13 years old. One of the many lessons I learned from him was that I didn’t have to go it alone, that I could ask for help and be given it without strings attached. As I grew up, I’ve had different personal and professional mentors, which is why it’s always an easy decision for me to make that investment, in both time and money, especially when it comes to my business.
And being a mentor to other women entrepreneurs is absolutely part of my path. It brings me great joy and allows me to give them the lift they need to go from where they are to where they want to be.
Which of these four resonates the most with you right now? Pick one and create your own luck by putting it into action right away.
I’ll be sharing a lot more how-to’s in my upcoming free workshop series – join us here:
When I was studying for my MBA, my most challenging class was statistics. And even though I managed an A- in the class, it took every one of the few analytical brain cells I had to do so.
So when I sit down to analyze the statistics of my business every year, I’m still surprised to find myself engrossed, fascinated, excited and practically dancing for joy. Armed with this critical data, now I know exactly where to spend my time and efforts going forward to receive the highest and best rate of return.
I ran a total of about 10 reports, but let me share some of what I learned specifically from my shopping cart’s reports:
The backend system I use (Infusionsoft) has the ability to run sales reports in a variety of ways. Below are four of the reports I run, what my results are, and how you can apply the results to your business:
a. My Monthly Sales Totals…
…showed me how many sales I made each month, and from that information, I discovered that my best month financially was November, followed very closely by December, then January.
I reviewed my marketing and sales activities (in other words, the offers I made) for that month, and what I found was this:
In November, I opened the Lively Biz Business Club membership for the first time.
In December, I opened the Lively Biz Accelerator small group coaching program for the first time.
In January, I offered a handful of spots for private Business Breakthrough Virtual Retreats with me, which always sell out very fast.
While the Club has a low price point, I designed and followed a specific launch plan, which resulted in a lot more enrollments. If you only have higher price points in you business model at the moment, consider if you can add a lower-priced leveraged offer to your menu of services.
Both the Accelerator and the Business Breakthrough Virtual Retreats have higher price points, so if you’ve already developed some products or programs at the lower-priced end of your funnel, consider adding a more comprehensive program at a higher price to your offerings to increase your bottom line.
b. My Sales by Campaign…
… showed me which special offers were the ones you were most interested in taking advantage of. Now I know which offers to consider repeating, or offering on another product or program in the future.
This is something you can do as well. Guessing if a special campaign you ran worked well or not doesn’t make good business sense. Tracking actual numbers does, however, and it’s super-simple to do if you have a backend system that has that feature.
c. My Sales by Clients/Customers…
… showed me who my top clients/customers are, what they’ve bought, and how much they’ve invested in my offerings. And since I know that one of the most effective ways to grow a business is to make additional offers to those who have already bought from me, you can bet that not only will I do that, but I’ll do it in a way that makes them feel special – because they are to me – by offering them special access or discounts or additional benefits as my way of thanking them for their continued business and loyalty.
If you track this information, you can do the same and increase your sales and your customer loyalty at the same time.
d. My “Where did you hear about us” Report…
… showed me that even though I thought that some of my online networking efforts weren’t really paying off, mainly because I didn’t think I was focusing enough time on them, I was wrong. It seems even the small amount I had been doing was making an impact.
So now I know the top three places to really focus those efforts going forward. If you’ve found online networking to be a struggle for you, tracking this information makes what can seem like an overwhelming marketing activity (some lists are SO active) into an extremely manageable and once-again enjoyable one.
I gleaned all of this information from just four reports from Infusionsoft. And this doesn’t include the reports I ran for my web stats via Google Analytics.
Measuring the results of your business activities is critical to your success, and anyone can do it (it’s really one of those “if I can, anyone can” kind of things). I really want to encourage you to take a look at where you’ve been over the past 6-12 months, analyze that data, and make some strategic decisions about where you want to focus your efforts going forward to get where you want to be.
I’d love to hear which of these tips you’re willing to embrace today. Feel free to share with me below.
Is your business starting to feel stagnant?
Or is it at a standstill completely?
Are you just not as enthused about it as you used to be?
Or does it feel just OFF and you’re not quite sure why?
There are many reasons this could be happening to you (especially with how much has changed in online business) but some of the more simple things to look at are if your current look and feel, messaging, and model are aligned with who you are and the work you most want to do as well who you want to do it with and for.
Often times, a simple ‘refresh’ of what we’re doing, that’s more closely aligned with who we are today and the work that makes us light up inside, and being of service to just the right people, can move the energy and rekindle your enthusiasm.
Here are 3 simple ways you can hit the refresh button in your business today:
1. Look and Feel
When you look at your website, what does it feel like to you? Does it make you smile? Does it give off the energy you want it to? Does it work the way you want it to? Do you love it?
When you look at your marketing materials, ask yourself the same questions. If you’re not feeling it with your stuff, chances are that your target market isn’t either.
As you grow personally and as your business grows, your look and feel should change to reflect more accurately your current state of being.
Where in your business can you refresh the look and feel to more accurately reflect where you are in your business today?
Think about the main message you deliver to your market. Is that message still accurate? Has it changed over the last year? Does it feel like it needs to change to more accurately reflect who you serve and how you serve them?
As you become more clear about what it is that you do and to whom you do it for and with, you’ll want to adjust your message accordingly.
For example, my message for many years was about mentoring women entrepreneurs to break through to 6 figures and beyond so they can live the life they ache for. And while that is still true, it became clearer to me what really matters is not the 6 figures necessarily, but what really matters to them personally – and that’s reflected in my new brand, Lively Biz.
A Lively Biz is playful, purposeful and profitable and part-time. It inspires you to live your life first. It allows you to enjoy this crazy entrepreneurial journey without making you crazy. And it enables you to make a lot more money.
Take a mini-audit of your offerings. What parts of the work that you do do you love to delivery and in what way? What parts could you let go of and feel really great about?
For example, after two years of year-long coaching programs, I reduced them to 8-month programs. When I restarted a monthly membership, I changed from live teleclasses to pre-recorded ones. I now offer virtual retreats in addition to in-person retreats. All of these changes better suit my chosen lifestyle and resonate with my best clients as well.
What changes can you make in your business model to better serve you?
While the message and the market of your business may be different, there are some stumbling blocks that seem to pop up for even the seasoned entrepreneur.
Here are four of the ones that I frequently coach on with my private clients:
1. Not moving ahead even when they know what to do.
Almost always, this is a fear-based immobility. Whether it’s fear of failure or fear of success (the later seems more prevalent for entrepreneurs, including myself).
We come up with all kinds of excuses as to why something isn’t getting done, but most often it has nothing to do with anything other than fear of the possible result of moving forward.
If you’re afraid of failing, remember that in our online world, we get to test things out with very little risk. My favorite strategy is to ‘fail fast’. Put it out there, see what happens, tweak until you get the result you want.
If you’re afraid of success, then you need to take a look at your Big Money Why (BMW – see #4) to see how you can make it more powerful and motivating (tip: money is never enough of a motivator, believe it or not). And you need to put a process in place for how you will handle the abundance that’s too come.
2. Being self-disciplined enough to make and stick to self-imposed deadlines.
The wonderful thing about being an entrepreneur is that you’re your own boss. The tricky thing about that is most, if not all, of our deadlines are self-imposed. Which makes them very easy to move, doesn’t it? I know because I’ve struggled with this one more than once.
If we go back to knowing what your emotionally driven motivator is for the success you desire, you’ll be more likely to stick to those self-imposed deadlines – but only if that BMW is strong enough.
Here’s a simple but very powerful tip for you in sticking to your own deadlines: Make them public. When I launched my first info-product, I told my ezine list that they would be able to buy it on a certain date, which gave me about 3 weeks to get it done. And done it was.
3. Claiming leadership status and fully stepping into the role of the CEO of your business.
Once an entrepreneur gets the foundational pieces in place for their business, it’s actually easy to stay in the start-up phase, because it’s comfortable. And because often they don’t know what the next step is, what the next layer of the business should look like, to take them to the next level.
The sooner they can take on the leadership role, by becoming the CEO of their business (even if they don’t call themselves that), the faster the growth of both the entrepreneur and the business.
One of the ways you can step more fully into that role is by delegating. So if you’ve been in business for a couple of years and you’re still doing too much of the managing of it, and especially if you’re doing all the admin work, and you haven’t hired an assistant yet, it’s time. Start with one small project and add from there.
For every task in your business, ask yourself, “Is this something I should be doing?”
Because remember, even if you CAN do something doesn’t mean you SHOULD.
If the answer is no, then pass it off to a capable assistant.
4. Having an emotionally driven motivator for your Big Money Why (BMW).
This is probably the most important one…
Money is NOT enough of a motivator, no matter how much you want it, or are attached to the ’6-Figure’ or “million-dollar’ mark. There has to be a reason behind wanting it, something that is so strong that it drives you and the business forward, no matter what.
If you find things aren’t moving as quickly as you’d like, or it feels too hard much of the time, or you just aren’t using your time and talent effectively, take a look at your Big Money Why. And if you haven’t done this before, then that’s your coaching homework.
In as much detail as possible, write out why you want the financial success you do. Is it to give to your family, is it to give to others, is it to create a charitable foundation, is it to take care of elderly parents, is it to enable your children to get the best education you can give them, is it to travel and expand your world view, is it to buy a nicer home for your family, is it to give experiences to those you love – they are a thousand reasons why, but you need to be very clear of what they are for YOU before you can make them happen.
At my annual Online Business Breakthrough Workshop, we focused a whole session on your Big Money Why, and it’s one of the most powerful sessions for shifting the attendees into passionate action in their business.
This year, we’ll be doing this session virtually as part of my Lively Biz Business Club.
Click here to get on the wait-list to be first to find out when the Club officially opens
I love to know how this resonates with you – share with me your thoughts below…