Focus On These 3 Things To Grow a Profitable & Sustainable Business
After starting and exiting multiple businesses and consulting on many more, I’ve discovered there are only 3 real ways to grow a business.
In fact, one of the highest-paid marketing consultants on the planet confirmed this for me during a private interview between us. The person I was interviewing, also known as the $21.7 billion dollar man, is marketing legend, Jay Abraham.
Jay says these are the only 3 business activities you must focus on to truly create the income you want for yourself.
If you’re not getting the engagement that you want, if you’re not getting the number of new clients you want, and if you’re not creating the income you want…
Then stop everything you’re doing and focus on these instead:
#1 — You must increase the number of NEW clients you get.
This is the lifeblood of ANY business no matter what industry you’re in… especially if you’re a coach or service provider working with clients. Without a steady flow of new clients, you’ll struggle to build a real business.
This is also where most businesses get stuck and eventually fail. They never “crack the code” or create a system that generates new clients predictably.
If you want to solve this problem in your own business, you just need to focus on these three things:
- One single avatar with a burning problem.
- One single offer that solves that problem.
- A strong message that attracts the right avatar.
(If you want help figuring these out for yourself, I’ll tell you how to do that in just a moment.)
#2 — You must increase the SIZE of every transaction when a client pays you money.
The easiest way to achieve this is to raise your price.
However, I don’t recommend raising your price arbitrarily. There’s a lot of advice online right now blindly telling you to “raise your price!”… but if you don’t do it correctly, then it will hurt you more than it will help you.
You must do this strategically.
One of the best ways to accomplish this is through a well-crafted and well-positioned high-ticket offer. We’ve seen clients double and triple their income simply by crafting the RIGHT premium offer for their market.
(This is also the key to earning a full-time income WITHOUT needing a huge following like I do, but more on that another day.)
Lastly…
#3 — You must increase the FREQUENCY at which a client pays you money.
This is what we call “client retention,” and after you discover how to get new clients whenever you want them, the next best thing to focus on is how to KEEP those clients and get them paying you money over and over.
Focusing on retention and repeat business is profitable, enjoyable, and it reduces the stress of constantly “hunting” for new clients.
Now, let’s look at how these three strategies work together to create exponential and geometric growth in your business.
Let’s say a coach has 10 clients with an average sale price of $3,000 and each client buys twice per year. So every year, the coach generates $60,000 in revenue (10 x $3,000 x 2).
- What would happen if the first variable increased by 10%? Sales would increase by 10% to $66,000 (11 x $3,000 x 2).
- What would happen if the second variable increased by 10%? Sales would increase by 21% to $72,600 (11 x $3,300 x 2).
- What would happen if the final variable increased by 10%? Sales would increase by 33% to $79,860 (11 x $3,300 x 2.2).
We started with $66,000 a year, and by making SMALL improvements to the three key areas of our business, we now have $79,860 per year — a $13,860 increase.
When you optimize just one of the variables, growth will be linear. But when you optimize 2 or 3 of the variables at the same time, your growth will be exponential because you’re creating leverage.
Now, those were conservative numbers…
When you dial in your messaging, niche down your audience, and create a scalable offer… it’s possible to experience BIG improvements within 30–60 days.
With the same numbers above, let’s say you DOUBLED the amount of new clients you got… RAISED your price from $3,000 to $5,000… and got your clients to buy from you 3 times a year instead of 2 times a year.
20 x $5,000 x 3 = $300,000.
You suddenly go from $66,000 per year to $300,000 per year — this is what we call a business breakthrough, and this is entirely possible to engineer for yourself if you focus on the right business-building tasks.
(Note: The above is just an example. I am not making any claims that these exact numbers would play out for yourself.)
Now, we like to help leaders and entrepreneurs who work with clients. And one of the big challenges they face is getting new clients each and every month.
Remember, this is the FIRST and one of the most important ways to grow your business. And if you don’t have a system in place to get new clients at will, then you’ll constantly struggle to create the business income you want.
So if you’re a coach, consultant, or service provider, and you struggle getting new clients, we can help you solve that through our 6-Week Business Accelerator.
All you have to do is book a call with a member of our team, and you’ll both go over your business, your challenges, and see how we could possibly help you reach your goals much faster.
Want help taking your business and brand to the next level?
We’ll help you discover your perfect positioning, create a scalable offer, and possibly double your monthly profits in 42 days or less. You’ll finally get higher-paying clients without chasing them or burning yourself out in the process. This is for the conscious leader who wants to generate enough income to serve and impact at a higher level.
To learn exactly how just click here!
