You were probably thinking I would outline 4 BRAND NEW, NEVER BEFORE SEEN online marketing tactics to add $100,000 to your bottom line by the end of day tomorrow.
Funny enough, it is that thought process that causes entrepreneurs to leak money and leave money on the table.
Some of the very best ways to grow your income, my top four ways to grow your income, start right inside your business.
I know this isn’t the sexiest topic in business growth, but one of the biggest money leaks in small businesses is a lack of budgeting.
Many small business owners believe they are too small to budget, therefore ignoring the process entirely.
They might find themselves knowing vaguely that there is money coming in but are left with questions each month. Questions of “How much of that incoming money went to operational expenses vs. right back into their pocket?”
Do you find yourself scratching your head wondering how it is possible that you had all of this income and almost nothing to show for it?
The solution beings with you implementing four steps within your business to follow through on the budgeting process. If you’re not jumping with excitement over learning this critical process, consider this:
- 90% of self-made millionaires did it in their own business.
- Everyone starts small and a lack of cash flow is what prevents us from reaching the millionaire mark. If you aren’t managing the level of income you’re at now, you are not prepared to manage higher income brackets and sustain them.
- Start understanding the income coming into your business, the money going out, and the money that’s staying in your pocket. This helps you to make critical decisions about your sales, marketing, and overall business growth strategy. Investments need to be intentional, and understanding your business’ budget can help you to do that.
- You have to get yourself in a position to uncap your income and get in control of your outcomes
- Understanding the cash flow in your business to understand what you need to be doing during your working hours in order to work closest to the dollar. There are time and money sucks in business. Seeing where the cash is going out can help you determine your schedule and weekly goals.
- Focus
- Focus is power. It allows you to create breakthroughs in your business, in your income and in the budgeting process.
- Learn the 80/20 rule. Learn what activities in your business are setting you up to grow your income in a positive way and measure and track that.
- Ask yourself – “How many hours a week am I spending on profit producing activities, connecting directly with prospects in my area of expertise that want and need what I’m offering?”
- Start to make smart investments as a business owner to grow sales marketing, and overall growth strategy.
- Think of ADOD: within your budget, what can you automate, delegate, outsource, or delete to cut costs and complexities in your daily tasks?
- Are you struggling within your business to grow income, sales, marketing or copywriting? Do you know what area is directly connected to your ability to succeed at the next level? Start outsourcing and talking to experts to get the ultimate business budget.
- If you want more in life, YOU HAVE TO BE MORE.
Grow your income today!
A profitable business is built upon 5 main pillars: mindset and productivity, a 7-figure foundation, strong sales and marketing systems, engineering your celebrity and building a winning team — we’ll be walking you through the principles of each in this blog series.
Other posts in this series:
Achieve Your Dreams with a Better Mindset
Increase Productivity in Your Business and Life
Three Keys to A Seven Figure Foundation
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