For Wellness Professionals, as with any other business, it can be a struggle to keep cash flow, leads, as well as new customers and clients coming in on a steady basis.
We all run into this problem from time to time. And, if we’re lucky, we figure out ways to mitigate cash flow problems by putting some measure in place that will smooth out the feast-or-famine highs and lows.
After all, getting new customers or clients is great the day you get them. And then you have to be all the things you told them you’d do while trying to overdeliver on your service. If you are being the best you that you can be in performing customer fulfillment, you run out of time for marketing. You run out of time to do the things that bring in new clients to grow your business.
Let’s look at 14 secrets to making more money so we can fix this problem and make your monthly cash flow a much more regular, steady stream.
Expand what you offer to current clients
In almost any business it is easy to add value to current customers’ lives and increase the lifetime value of each customer. Often you can do this without adding too much to your own plate. Partnering with other businesses and including their products or services as an affiliate is one of many examples of ways you can pick the lowest hanging fruit in your business: current customers.
Make Your Incoming Traffic More Steady
If your cash flow is sporadic, it could be that your traffic and lead generation are also sporadic. If this is the case, look for things like search engine optimization and a regular calendar for new content going out on social. If you only update your social streams when you remember to, it is easy to notice wide variations in your traffic which leads to some good, some bad days for new lead generation.
Search engine optimization can give you steady daily traffic as well. Ranking in the top 5 for your best keywords can give you traffic that never stops, even if other sources do.
Integrate your product in someone else’s funnel
Allow other businesses to give away something you offer that is valuable – like training, an ebook, meditation or anything that doesn’t cost you anything to give away – as a valuable bonus for their customers when they purchase from the other business. Integration marketing is a massive leverage play because you benefit from the marketing efforts of others to generate a steady stream of leads for your own business. Companies like DUvisio make this sort of joint venturing a snap.
Start group coaching
This is so easy to do with free tools like Facebook Groups and Facebook Live or Streaming on YouTube. Your current customers and new clients are already taking part in others’ training and coaching programs. The only reason some of them are not doing it with you could be simple: you’re not offering one! Put together a simple outline with the big outcome and start telling your customers about it. Schedule it, run it, and have it in the can for future customers to get access to.
When was the last time, if ever, that you actively approached relevant businesses who have your perfect client (but aren’t in direct competition with you) to trade referrals? It’s just about the easiest thing that two businesses can do to get no-cost leads for each other.
Give away the good stuff
Getting more customers these days means you really have to expose them to some of the wonderful work you do. We have to prove to customers that we are exactly who and what they need. People don’t go on faith or slick copy anymore. They know they can find someone else who already figured out how to effectively capture their customers’ attention and deliver something of high value for free which turns them into paid clients afterwards.
The more you give, the more you’ll stand out as the obvious choice for your paid services or products.
Make more money by spending money on staff? How’s that again? Actually, you are probably doing at least 5 things in your business that don’t require your big brain and your limited time to accomplish. Outsource it, hire staff, bite the bullet for a month or two, and the extra time you save can be spent where you should be spending your time: fulfillment and generating more customers the way that only you can do.
You’ll end up making far more than the cost of your outsourcer – who can also be utilized on busy work like your social media campaign tasks.
Take time for yourself at the “worst” times
As business owners, we’re famous for feeling guilty for taking any time for ourselves, especially when things get busy. Yet that’s the exact time we should do it. I can’t count how many times I’ve had a major, profitable idea on growing my coaching business while walking by best friend at the park. And I don’t do it only when there’s plenty of time and no fires to put out.
I’ve walked right out of my office at the height of some crazy workloads to do it. Ever see the movie where the guy throws a match on some gas and walks away as a huge building or car explodes behind him in slow motion? Yeah, I’ve walked away when my business was doing that! In slow motion, too!
People think I’m crazy, but more often than not, I came back to the office not only refreshed but with an idea or four that will solve big problems and bring in more revenue.
Little Add-Ons (Upsells) Make a Huge Difference
If you’re a massage therapist, for example, give customers a chance to upgrade to better quality, more expensive oils used in their therapy. Make tiers in your business and don’t be so one-dimensional. Cater to the subtle differences in the needs of each type of customer you attract and you’ll see an improved balance sheet month to month.
And Five Quickies:
These are easy to understand reminders of things you probably already know, but need a little reminder to do. Speed round!
Go to those local meetups and just serve your face off to make friends with new clients and business partners.
Provide your service for people who cannot afford it
The publicity and goodwill generated will bring you more customers. Partner with other business to cover your hard expenses for doing this. They’d love to get in on the publicity as well.
Email your list more often
Start a 30-day challenge and run it to your list. 30 tips, one a day or 15 tips one every other day. Your old clients will come back for more.
Go live on Facebook or YouTube with interesting things happening in your business
Show people what’s going on, what you’re doing at an event, or you providing your service so new people get a real feel for what you do and who you are behind the scenes and in the middle of what you’re passionate about.
Know your digits = make more money
How much traffic did you get today? How do you know? If you’re confused and don’t know this answer, you can’t make any more money. You have to know your metrics inside and out and take the time to check in each day. Otherwise, you are losing money left and right on new opportunities, you cannot see to take advantage of.
My mission is helping wellness professionals in their efforts to make the world healthier, happier, and productive members of society. Each of the 15 things above is 1-2 hour webinar-worthy and I’ve coached clients on all of them and more.
If you have questions about anything here, comment below. Want more help with your business? Just drop me a line.