Do you find it challenging to fit your marketing efforts into your schedule on a regular basis? Or, when you do advertise your business, do you discover that it is not consistent enough to get you the outcomes you are looking for? It is just as crucial to market your company as it is to do whatever it is that you do. You will cease having as much trouble if you accept it, and you will achieve success on a whole new level as a result.
Prior to the development of my company into what it is today, I used to exchange my time for monetary compensation. My rates were based on an hourly basis when I worked as a webmistress. I charged by the hour when I worked as a writer and editor. As a consultant specialising in public relations and marketing, I based my fees on an hourly rate. Do you see where I'm going wrong here? You do realise that there is a limit to the number of hours in a day, right? And since I required the majority of those hours to be billable hours in order to pay the rent, that left me with very little to no time for marketing. You can probably understand how difficult it was for me to find customers.
But I don't struggle anymore, and here's why: it's called passive income - multiple streams of passive income - that enables me to work with fewer clients one-on-one (but more of my ideal clients), and that gives me much more time for marketing and growing my business with a lot less effort. In other words, it's called multiple streams of passive income.
The following are the first three actions you need to take in order to incorporate this approach into your company:
1. When marketing your business, use the funnel strategy. This is something that I bring up on a regular basis since I believe it is such an effective strategy (that is supported by evidence) that I want as many people as possible to adopt it. If you configure your company to work within this system, it will take care of all of your marketing for you automatically. And it's the kind of marketing that allows you to "set it and forget it," which is the best kind!
2. Quit exchanging your time for money and start developing goods that can bring in an income even while you're not actively working. Using the expertise that you already possess, you are able to develop items in a format that is simple to package and transport, such as an ebook. Your ability to serve more people than you ever could one-on-one is made possible when you bottle your expertise. Additionally, this gives prospects who might not be able to afford your fees the option of continue working with you, albeit in a different form than what you normally provide them.
3. Raise your fees. Raise the price of your one-on-one services once you have begun selling products and have established a steady stream of passive income. Now hold your breath! What impact will increasing your rates have? It will enable you to gracefully let go of some of those clients who are less than perfect, and it will make it possible for you to work with more of those customers for whom you are best prepared to provide service. The hike in rates will, at the at least, cover the loss of money from the clients that have dropped off, but ultimately, you will bring in more cash by elevating the level of quality and commitment at which your firm operates. In addition to this, you will have more time available to produce other goods!
If you build your company around this model, you will enjoy working with more of your ideal clients and customers, generate more income by packaging your expertise into products, and give yourself more time to build your company into the most successful version of itself that you can possibly imagine.
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