The three things that you need to do to consistently generate growth and high-tickets sales in your service based business are: attract, nurture, and convert.
The foundation of your service based business should be serving customers at a higher price point in a one to one capacity, which allows you to very quickly generate enough revenue to be able to pay yourself, reinvest for staff, and reinvest for advertising.
Those are the three most important hurdles that you need to overcome quickly in your business, to be able to reinvest and then scale.
If you focus initially on a very simple business model – low tech, with not a lot of gadgets, and not a lot of bright shiny objects – you can very quickly get the revenue where you can both hire help and spend money on advertising all while paying yourself.
Now, that might seem like a very simple thing, but most businesses never get to that point…and here’s why:
Business owners never make it to the big three, AKA the ability to pay themselves, invest in teams, and invest in advertising, because of cash flow. What’s the reason why they’re struggling with cash flow? They’re not spending their time on the right activities.
So many business owners are stressed about the fact that they’re working so hard in their business, yet, they’re not making the income that correlates with that hard work. And the reason why they’re not making the income that correlates with their hard work is that they’re not spending their time on profit producing activities.
If you’re pointing your energy and attention to tactical, administrative, technical and operational responsibilities in the business, you are just going to go deeper into that black hole.
If you are focusing your energy around profit producing activities, you are going to generate results that you’re going to be able to multiply and duplicate and ultimately that will become your springboard for scale.
There’s really only three things that you need to do in order to generate growth consistently in your business: attract, nurture, and convert.
Consistent Profits Goal #1: Attraction And Getting Your Customers To Understand Who You Are And/Or What Your Business Does
Attraction is discoverability.
What is discoverability? It’s people finding out about you.
I see so many entrepreneurs every single day, posting content like crazy, killing themselves, doing posts, sending emails, going live, and they’re going live to no one, they’re posting to no one. They have no audience right. They have no offer that’s proven, and it makes no sense. They will not be spending any of that money because they don’t even have that offer dialed in yet.
This is by far the gateway to entrepreneurial success.
If new people are not discovering you, each day, your business will stagnate and fail. So your first job as an entrepreneur that’s looking to get your business to $200k – $300k or $500k in recurring revenue, is this: you need new people to find new each day.
Ads cost money, and do an exceptional job at attracting customers to your business. If you have money and money is no object, let’s say you’re working a full time job, you have money to invest in your business, then you should be running attraction ads, to convert people in your ecosystem starting now.
If you don’t have those kinds of resources, what are the organic things that don’t cost you any money which can attract new people into your ecosystem right away?
Get in front of anyone that has the ability to see you
The first thing that you want to do is you want to make sure that everyone who’s in the sphere that you have right now LinkedIn, Facebook, Instagram, Tik Tok – they need to know who you are, what you do and who you help. They also need to know who might be the right kind of people with whom to connect your business.
As such, make a list of your top 100 people to whom you are connected and who you think would either be interested in working with you, have worked with you in the past, or would know people who would be interested in working with you. Another key point is that you have to believe they would be able to refer people to you because they know you, like you, and trust you.
GOutbound messaging – especially to the connections that you already have.
Most people are relying almost exclusively on automation and digital tools, which consumers are way too savvy for at this point. No one is interested in you sending them a copy and paste message. No one is interested in opening up and reading an email that just went to 1000s of people that is not personalized
People want connection.
So, log onto your social media and start sending customized videos, outbound messages and personalized notes to the people that you feel you could add value to. Invite them to engage with a piece of content, invite them to a live stream that you’re doing, invite them to some opportunity where you can, again, add value for them.
The huge mistake that people make when they start reaching out and trying to build an audience is that they immediately focus on “what can I get? How can I make a sale? How can I close a deal?” That’s like asking someone to marry you before you’ve gone on the second date.
You need to focus first on how you can create reciprocity with this person so that they want to learn more, and see a demonstration of how you can add value for them. Because if you go in for a sale too soon, people are immediately going to put their guard up.
Ask people to share
Asking people to share is creating ambassadorship, and getting referrals. If you have even one paying customer, then you should be kicking off your referral program. Because if you have one happy customer, and that customer tells one other person and they become a happy customer, you just doubled your business. And then if those two happy customers tell two more people that become happy customers, you just doubled your business again. And pretty soon, that multiplier effect can turn into millions and millions of dollars in revenue.
I know this, because we actually have produced millions of dollars from our referral program and we did that simply by asking people to share our free workshops that we deliver on an ongoing basis to learn what we teach and to get to know our brand.
If you want to receive, you have to ask.
Consistent Profits Goal #2: Nurture Your Leads And Treat Them With The Respect Their Time Deserves With Honest Interaction
The nurture process is what brings people from cold to close.
It’s fine to use emails and to use automation, but you can’t rely on that to nurture your audience. This is where you need to spend your time nurturing:
Social Media posting
You should be posting at least once a day across all of your platforms.
Quick tips videos
You should be putting out a two minute tip video to your audience to your email list every single week. So that’s literally two minutes of your time. You can do that at a traffic light. You can do posts while you’re sitting in the car line at school. You should have at least one email to your list where you include a very valuable piece of content that is going to move them forward in that trust process.
Weekly live shows
Your weekly live show can be an audio/video podcast, or it can be just a live stream wherever you find your audience. It’s you speaking to the camera or you speaking to the microphone, or you sharing content in some other format. That is a zero barrier between you and your market.
Most businesses will go to the graveyard before the business owner ever hit six or seven figures because they have so many barriers between them and their audience. Technology is meant to enhance and accelerate human connectivity, not take away from it.
Most people try to replace the human connection and replace human interaction with technology and they fail because people want to connect with people people want to buy from companies that they feel a connection to the person, the face and the name behind that business.
Do two pieces of content with zero asks and then you create a piece of content that has a specific CTA in it.
Use CTAs intentionally
You must decide what’s the call to action that you should be using in your business at the stage that you are at first. Perhaps you should be inviting people to apply for a consultation or you should be inviting people to attend a live stream that you’re having. Maybe you should be inviting people to join your email list.
Ultimately, the call to action is to attend a conversion event, consume a piece of content, get on your email list, or apply for a consultation. Consultations are the number one metric and a service based business. So that means that you’ve effectively attracted people, you’ve effectively nurtured people, now they’re attracted to want to work with you, and they’re applying for a conversation.
Consistent Profits Goal #3: Consultations Are Your Most Important Part Of Business – So Make Sure All Of Your Efforts Point Back To Closing A Consultation
Everything you are doing in your content, in your nurture, in your attraction, it’s all reverse engineering back to consultations.
If you want to grow your business from 2k per month to 20k per month at rocket speed, you focus on increasing the number of consults that you do each week.
The way that you’re going to do that is going buckwild on zero barrier content, nurture activities, podcasting posts and emails to the list videos. You must make sure that every day you’re bringing new people into your ecosystem, but no one’s falling through the cracks because as soon as they discover you, you’re engaging with them.
You must immediately build rapport and a relationship with them.
At this point, you’re moving them through that process from cold to close.
If you have an intentional strategy, you can do this in 90 days or less, very, very easily. We teach people how to do it in nine days or less. That’s how fast this can change. I recommend that you do your consultations for free, because in the beginning, you want to get as many people applying for consultations as possible. Then as your business grows, you start using applications to screen people out.
But in the beginning, you really want to pull as many people into consoles as possible.
If you are under $250,000 in your business right now, and you want to go to the million dollar mark, these are the things that are going to get you there. Compelling content, effective call to action, bringing new people in your ecosystem each day, creating human connection, building rapport and relationship with them, and then inviting them into consultations. You want to get in a rhythm and a routine where every week you’re challenging yourself to grow the number of consultations that are coming in and you will be absolutely astounded at how quickly you’re going to max out your private spots.
There is no magic, there is no secret formula. There is no app on your phone. You don’t need any tech for any of these things. These are the things that no one wants you to know because there’s nothing to sell.
These are all things that you can go do right now for free.
If you build your business on tactic, and tactic is constantly changing, you’re going to be constantly starting over in your business. Whereas, if you build your business on fundamentals that never change, you have a solid and sturdy foundation in your business on which you can build, grow and scale.