Why your business is not growing, and 4 things you can do to fix it!
Are you feeling lost in your business, you've been working hard - possibly for years, and you're just not going anywhere?
I'm going to be completely honest. This was me. I recently celebrated by six year biz-anniversary and was no better off than when I started. Two months after my epiphany and my business is set to quadruple this month and quadruple again the following.
I had been in a state of upheaval with my business. Unclear of where I was going, who I was serving and trying to figure out why my own business wasn't doing what I was helping others to achieve.
I dove head first into research, learning from the best of the best and I stumbled on something that I've always known, but never had it explained that way before.
To run a business you need a product to sell. Everyone knows this. If you have a service-based business, it's still a "product" that you sell, except now, it's your time on the line.
Let me ask you a question. When I buy something from you, what happens next?
What's my next possible purchase from you that I can make?
And after that purchase, what comes next?
This question was proposed to me, and I didn't have an answer. I had an answer the first 2-3 times it was asked, and after that, I was stumped...
The guy explaining this (Russell Brunson, go check him out!) essentially said, you need to have something for your consumers to buy at multiple price points. And you always need to have something bigger and better for them to buy each time.
He has products that start at about $10, and then it goes all the way up to his $1million dollar coaching.
No wonder he is making millions.
Now everyone doesn't want to put the effort in to become a multi-millionaire, but the principles of a successful business are the same.
1. Have an entry level offer
This is the product or service that gets people in the door, starts preparing them to pay you for your service and you can blow them away with the value you are providing. If they say yes to a small purchase, they are more likely to make a bigger purchase.
2. Work on your upsells
Obviously, you're not going to read this, and create 20 new product/service offerings to fill in the gaps. So, think about it each time you do a launch, or add a new product.
Ask yourself, what could I provide here that will provide even more value, and be worth more money to my ideal client. Create that product or service, and keep going with this process.
3. Continually add value
The biggest lesson here, and I'll be honest I've messed this up, and I've seen a lot of others do the same - every time someone does business with you - they should get INSANE value from what you do and provide. They should walk away thinking "that was amazing, I need to learn more/buy more/do more with that company."
4. Package your products.
This was the hardest one for me, and I'm still in the process of fixing this one up - as I said, don't do it all at once, but just keep working on it.
Create packages (this is vital if you're a service-based business). Giving yourself a clear indication of what you do, and what you sell (and then knowing your upsells from point 2) makes it infinitely easier to market yourself, and it makes it easier for your clients to know what they need and should purchase from you.
If you can implement these 4 strategies into your business, I can almost guarantee you're going to be doing better. I'm currently working on some more entry level offers and adding more upsells.
What are you going to do first? I'd love to hear - comment below!
If you're totally stumped by all this and don't know what to do you can book in a free strategy call with me here, I'd love to help you figure it all out.