How Much Money Are You Leaving On The Table?
Posted in "Fly on the wall" coaching moments, Business Strategy, Inspiration, Product Development and tagged with business coaching, business leverage, Business Strategy, Product Development on 09/16/2009 01:30 pm by Therese“What do you want to achieve in this session,” I asked.
“Can you review the new sales page that I wrote,” she said.
That’s where it started. And fifty minutes later she had a completely different business model, had a plan to quadruple her income, and added a membership site for more leveraged revenue.
What a rewarding time! Doing Strategy Sessions is one of my most favorite things because I can take the persons business, understand what motivates them, find what they desire, rip the heck out of their current model, then spin something really amazing out of all the pieces.
In this case we went from a business owner who sold only a $19 ebook, and turned it into a $97 Toolkit. We then added a 90 day free membership for everyone who buys her p
roduct so she moved from a one time purchase to monthly income. How cool is that?!? Let’s do the numbers – if she had 50 sales at $19 she’d be making $950/mo. 50 sales at the new price is over $4800! Just one tweak and she’s rolling in the dough.
It got me thinking of how many creative entrepreneurs spend so much time energy and money, yet don’t have a business model that has the maximum revenue potential.
A couple of years ago I coached a woman who had a list of 22,000. (Imagine that!) She sold one thing – a $247 info product that she was getting ready to sink loads of money in to create videos and promotion for. The problem was that this was a one time use. So she had a huge list, worked her butt off to market, but once she made a sale, there was no other offering for those purchasers to get.
The solution? We also created a funnel for her and added different levels of membership, and a higher end coaching program. Finally, she could leverage that huge list and get loyal fans who kept coming back for more.
Now I want you to look at your business. Is there a way to add more offerings? Can you sell a upgraded version of your product? Do you have a mechanism to have your customers return, or do they buy once and leave you?
An hour spent brainstorming these three questions can make your life (and revenue) a lot sweeter! Think outside the box my friends……
And if you need some more support, get a hold of me and we’ll work some magic on your biz.
Blessings,
September 19th, 2009 at 11:08 am
I really love the way you gave us a view into what you do for your clients – and you translated it into cash flow so we could see not only what you do but the potential outcome. I wish more coaches of all types would do this – parenting, career coach, law of attraction – what ever the case, just tell a good, true client story and the happy ending or outcome. That kind of thing really gets me on board.
September 20th, 2009 at 1:23 pm
Thanks Melody,
It didn’t occur to me that I was giving you a view of what my process is! I was just so excited that I made (in less than an hour) such a huge difference in the clients’ life. I’m sure you see it as well…a client that has so much heart and soul but has a business model that is doomed for failure.
Yikes!
We gotta unleash our brilliance and help our ‘tribe’ of biz owners to be successful.