Worried the economy will hurt your business opportunities? There’s truly no need to feel powerless or like a victim just because things appear different than they did before. Certainly, for some, this has been a tough time. But for most of us, the opportunity to succeed in our business is as great now as ever. All you need is to know is how to do the right things right.
How can I be so certain? Because I’m experiencing the best year ever, this on top of last year, which until now had been our best year. Not only that, I’m witnessing my clients have their best year ever, too. In fact, every week, I receive emails from members of our coaching programs, reporting in a new business opportunity that’s come their way, “woo-hoo’ing” getting a new client or celebrating successfully raising their fees.
But rather than keep what we’re doing to achieve these kinds of results a secret, I prefer to share a few tips with you as to exactly what we’re doing that’s working in this economy.
Tip #1 Offer Creative Payment Plans
What’s new and working brilliantly is to offer a sweet incentive for your clients to pay in full in exchange for a significant discount on their total package investment. Don’t be surprised if you find more than half of your clients taking you up on this option. Clients love the savings and you’ll love how much this strategy will increase your cash flow. Plus, this strategy helps guarantee your client’s commitment to working with you.
Tip #2 Look For Collaborations To Leverage Your Opportunities
Just like peanut butter loves jelly there’s tremendous opportunity in collaborating on a program, product or service with someone else who has something you need to give your business a boost. I recommend choosing someone with a bigger list, greater name recognition or the ability to market effectively. Women are natural collaborators so this idea often flows easily.
And don’t worry if you don’t think you “have anything of value to give.” You’ll be surprised at how often other women want to team up on a project instead of slogging it out on their own. So, think of someone you’d love to collaborate with then reach out via email or telephone and see what you can create together.
Tip #3 Offer A High End Service…Now!
What people want more than ever is personalized time and attention. They intuitively know that if they get focused help or preferential treatment they’ll solve their problem faster and easier. People don’t have time to waste so they’re willing to invest in solutions that promise accelerated results. Think “magic pill” here rather than “all things take time.”
Besides, there is always twenty percent of your database who want, prefer and will pay for higher-end services. If you’re not offering this option to them, you’re throwing money and the opportunity to help someone out the window.
Keep in mind that what you think is high-end probably does not live up to what your clients think is high-end. So, make your high-end package elite, exclusive, and charge appropriately for this level of privilege. You’ll make that twenty percent very happy!
Tip #4 Design Your Business On The Multiple Streams Of Income Model
A big reason why my business and my clients’ businesses are thriving is because I help them design a variety of programs, products and services, all focused on a core, central theme. This strategy practically guarantees a recession-proof business because you’re not at the mercy of any one stream of income.
By Being Smart About Your Business Now You Create Success For Years To Come
Good business design and ideas will always succeed, no matter what the economy. So, rather than wring your hands the next time you read about a downturn, you can feel good, knowing you know how to do the “right things right!”