03 | 7 Revenue Generating Activities to Increase Your Business Profit
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Episode Show Notes
Do you ever find yourself Googling “How to increase income in my online business”? If so, this episode is for you!
Join me as I outline the 7 key pillars of business growth and let you in on the daily money-making activities that will allow you to make more sales TODAY so you can build a more profitable business for the long run.
Links & Resources Mentioned:
The 5am Club by Robin Sharma
BLOG POST: 10 Easy Ways You Can Make Money Online
Episode Blog Post
As a business owner, bringing in consistent income is a top priority for your business. After all, a business without consistent income isn’t a business at all - it’s a hobby (& an expensive one at that). However, it can be difficult to know exactly where you should be focusing your time and energy in order to build a profitable business.
It’s so easy to get caught up in the ‘busy work’, always working IN our businesses rather than ON them. Especially when it comes to working with clients, we can get so caught up in serving them that we forget to make time to work on and grow our own businesses - the things that are going to increase our income and bring in new clients, customers and sales.
In this episode, I’m sharing the 7 key pillars of business growth that you should be focusing on to increase your profit.
I’ll also give you an example of a revenue-generating activity linked to each pillar that you can take and implement straight away!
The power of these revenue-generating activities is that you'll finish every day feeling super productive and accomplished because you've focused on the tasks that actually generate income and move your business forward.
1. mindfulness.
Although it can be easy to dismiss mindset activities as “fluff”, it’s actually one of the most important things you can do as an entrepreneur.
If you neglect to work on your mindset, you are going to find it a lot harder to reach the next level. Everything you do is impacted by how you're feeling. When you take the time to improve your mindset, it increases the likelihood of achieving long-term success.
REVENUE GENERATING ACTIVITY EXAMPLE:
One way I love to work on my mind is by creating a daily morning routine. I know, I know… this seems like the generic go-to advice every entrepreneur spouts - but hear me out.
Developing a strong morning routine allows you to set your day up for success by getting your mind on track from the get-go. Studies have shown that having a daily morning practice can lead to increased productivity and motivation throughout the day.
If you haven't already, I highly recommend that you read The 5am Club by Robin Sharma. Don't let the title scare you - you don't have to wake up at 5am (unless you want to). The principles inside this book can be applied whether you wake up at 5am or 10am and focus on the fundamentals of a morning routine that sets your day up for success.
2. planning.
Effective planning leads to increased profit.
The only way you’re going to be able to reach your big goals is to set those goals in the first place. When you have a tangible goal that you’re working towards, you’re able to see the big picture vision, which motivates you to actually do the work to get there.
Goals help you to know where you’re going. They help you to measure progress. They will be the catalyst to your success.
REVENUE GENERATING ACTIVITY EXAMPLE:
At the beginning of every quarter, I like to set my business goals for the next 90 days. A new quarter is the ideal time to check in with your business, align yourself with your goals and ensure you’re on track for your annual targets.
Revisit your annual goals to determine whether they’re still relevant.
Based on your annual goals, decide on 1-3 goals you'll focus on for the upcoming quarter.
Break each goal down into smaller action steps.
There is a lot more to the quarterly planning process, but these are the basic steps I like to follow.
3. offer creation.
In order to make money, you need an offer to sell (obviously).
Your offer is a fundamental part of your business, and creating one that your ideal client truly needs and wants is crucial to converting your leads. Without a strong offer, you will find it extremely difficult to sell.
If you’re reading this, you’re a business owner, so it’s likely that you have at least one offer that you’re currently selling. If you don’t, make sure to read this blog post outlining 10 ways you can make money online today.
What I want to share with you is for those who already have an offer they’re selling, and want a way to increase conversions.
REVENUE GENERATING ACTIVITY EXAMPLE:
Create a secret menu that allows you to upsell or downsell prospects who aren’t a great fit for the offer or service they’re enquiring about.
When you're having a sales conversation with a prospect but you're unable to convert them due to various reasons, you can bring out your secret menu rather than discounting your original offer, or losing that prospect altogether.
Your Secret Menu are options and offerings that you don't (or rarely) promote publicly.
For example, let’s say your prospect has enquired about your private coaching package, but it turns out that they don’t have the money to invest right now. To keep that lead, you could…
Secret menu option 1 - Lower the price and the deliverables (e.g. offer biweekly calls instead of weekly or offer a Voxer-only option).
Secret menu option 2 - Downsell them into a self-paced course that would be the perfect fit for them based on your discussion.
4. community
If you want to grow your income, you need to prioritise building a community - an audience of ideal clients who you nurture enough so that they know, like and trust you enough to purchase from you.
When you take the time to do this, you’ll go from talking to crickets to selling out your offers in the blink of an eye!
REVENUE GENERATING ACTIVITY EXAMPLE:
I keep on top of this by nurturing my community daily - I set aside 15 minutes every day (usually whilst I’m watching TV) to engage with my current audience.
I know that it’s easy to always focus on bringing in new community members, but your current community should be your priority. You've put in the work to build your audience on Instagram, but the work doesn't stop there. Simply putting out content isn't enough anymore - you have to make the effort to engage with your audience!
Your ideal client is following hundreds (maybe even thousands) of people on Instagram. It's easy for you to get lost in amongst them if you don't put in the effort to make yourself stand out.
5. content.
When executed correctly, your content strategy will do the selling FOR YOU. When you consistently provide value to your ideal client, they're going to be far more likely to want to learn from you further, and actually pay you for that knowledge and the expertise you provide.
Your content strategy exists to take your ideal client through the customer journey - from a cold lead to boiling hot and ready to buy. It should prime and prepare your audience for your offers and services by informing your ideal client of everything they need to know and believe before they're ready to purchase your offer or hire you.
Doing this means that you're able to warm up your audience so that when it comes time to sell, you're selling to an audience filled with HOT LEADS that you will find so much easier to convert.
REVENUE GENERATING ACTIVITY EXAMPLE:
My favourite way to nurture my community through content is by showing up consistently on Instagram Stories.
Instagram Stories have become so much more than just a place to share your personal life or what you had for breakfast this morning. They’re an extremely important marketing tool that, unfortunately, many online businesses aren’t leveraging to their full potential.
If you want to learn how you can start leveraging Instagram Stories to increase your influence, impact & income online… make sure to sign up for my FREE 5 Day Instagram Stories for Business Challenge.
6. collaboration.
One of the most crucial aspects of your business' success is your VISIBILITY. And what better way to get visible than by leveraging other people’s audiences? When you do this, you’re able to organically increase your online presence and get more visible in the online space so that you can increase the number of leads coming into your business and make more SALES.
REVENUE GENERATING ACTIVITY EXAMPLE:
Aside from blog & podcast collaborations, one way I love to leverage other people's audiences is by creating an affiliate programme for my students.
There comes a point where you exhaust your audience, organic growth is limiting. You could try running ads, but they can be expensive. But is there another way to tap into new audiences *without* spending money?
That's where affiliate programmes come in! Unlike most forms of paid marketing, you only pay your affiliates when they bring you a new customer - it's risk-free and you get exposed to a whole new audience!
7. promotion.
Your ideal client is not a mind reader. The only way they’re going to know about you and how you can help them is if you show up and actually tell them about your offers!
We hear the whole ‘you need to sell every day’ in the online space a lot and while this is great advice (you absolutely should be selling every day), it’s often not backed up with HOW to sell every day.
Here’s the thing: If you are showing up every day to talk directly about your offer, then yes, that is going to be boring and repetitive and your audience will likely get annoyed with it, even if they are interested in your offer. But when you switch up the ways in which you promote your offer and incorporate soft selling into your sales strategy, selling every day becomes a natural part of your marketing and allows you to promote your offer consistently, often without your audience even realising you’re doing so.
REVENUE GENERATING ACTIVITY EXAMPLE:
Here are a few ways you can incorporate soft selling into your marketing strategy…
Include a CTA promoting your offer at the end of your caption
Share your behind-the-scenes
Share the process as you create a new offer
Share a client case study
️Record a mini-training for Instagram Stories and promote your offer at the end
Give a roundup of the wins your clients have been experiencing recently
So there we have the 7 key pillars of business growth. To recap, we have…
Mindfulness
Planning
Offer Creation
Community
Content
Collaboration
Promotion
When you implement these key pillars, you’ll find it so much easier to grow your business as you’re prioritising the tasks that move the needle forward every single day. You’ll be able to grow a community of ideal clients who’ll see you as the go-to expert within your industry and you’ll be able to say goodbye to sporadic and inconsistent income. Instead, watch your bank account grow every single day!
So now you’ve got the pillars down, how do you actually put them into practice? That’s where The Revenue Generating Activities Dashboard comes in.
RGA is a database of 50+ Revenue Generating Activities that focus on the 7 key pillars of business growth so that you can ensure you’re consistently moving the needle forward and focusing on the tasks guaranteed to increase your profit.
Each of the pillars are broken down into daily, weekly, monthly and quarterly tasks you can do to generate more income for your business.
I promise you, these Revenue Generating Activities are not fluffy prompts that you’ll look at once and never implement because they don’t tell you how.
WITH RGA, YOU’LL…
Receive 50+ actionable prompts with in-depth instructions on how to implement.
Learn how to structure your quarters, months, weeks and days for maximum profit.
Have so much more time for the things you love when you’re able to focus on the true needle movers.
Build a solid reputation that allows you to attract (and close) your dream clients.
Sell in an authentic way that allows you to make consistent sales that you don’t have to chase after.
It’s time to take your business from unpredictable to profitable. And Revenue Generating Activities is going to help you do just that!
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Hey! I’m Tish!
I'm a marketing mentor for ambitious entrepreneurs who want to create more time, freedom & profit in their online business, in a way that feels good to them!
If you’re ready to build your business on your own terms, so that you can live the life you desire… grab a cuppa, get comfy & stay for a while ☕️ ✨