{MMYH Ep. 58} Turn Your Business Around In A Quarter

by Amanda Abella  - October 2, 2018

Even if you’re just starting out, or if you feel like your business isn’t as successful as it could be, you can turn your business around in a quarter. Since we are in the last quarter of the year, now is the best time to start! You can turn anything around in a quarter, including your business. It’s possible to earn more money in the next 90 days than you did in the last 90 days. Here’s how to do it.

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Decide That You Want To.

So, the first step is that you have to decide to make more money. I’ve talked about the fact that wealth is a choice. I have talked about the fact that you have to decide not to be broke. Sometimes, we sabotage ourselves when it comes to making money, and it’s because we haven’t made the decision to make more money.  

I see a lot of people who get to a point where they just don’t even own what they want. They’ll coupon or live frugally, even though they don’t really want to. If you don’t wanna be doing that, then you have to own what it is that you want, and for a lot of people that could seem really uncomfortable. We also live in a society that tells us that people who want money are greedy. No, they’re not, right? Someone’s greedy, whether they have money or not, money doesn’t make a difference. Money is neither good nor bad, it is neutral.  The money will not turn you into a bad person unless you were already a bad person to begin with.  

Increase Your Rates

Once you’ve decided that you’re ready to make more money, step two is to increase your rates. Whatever service you’re offering, whatever product you’re offering, it’s time to increase it. There are two options for increasing your rates. You can increase your rates with current clients as I’ve done in the past.  So, it’s up to you to ask for money.  

The other option is to grandfather in your current clients at whatever they have because they’re super cool and you don’t wanna risk losing them. That’s fine, totally understandable. And then increase the rates for all the incoming clients. That’s the easiest way to do it, is just to increase the rates for what you’re already doing. 

You don’t get what you deserve, you get what you negotiate. That is a very important quote that I want you to remember. 

Market Yourself More

The next step to help you turn your business around is to do more marketing. Typically, when a business owner says “I’m not making money,” I realize that they’re also not marketing themselves. So there’s a correlation between you not putting yourself out there and you not making any money.  You can’t expect people to buy from you if they never hear from you or see you out there promoting yourself. 

Increase Your Sales Calls

In addition to marketing, you need to start increasing your sales calls if you want to turn your business around in a quarter. If you’re in the beginning stages of your business, or if you’re just now getting your systems together, it’s all a numbers game. If you want to increase your chances of making more money, you need to increase the amount of your sales calls. Some of the ways that you can do that are by sending emails to your email list and saying, “Hey, I opened a few spots up on my calendar.” Or, “Hey, I’ve opened up these few spots, spaces are limited, first come first serve,” I do this stuff all the time and it really, really works.

Get Rid Of Dud Clients

One of the best steps to help you turn your business around is to get rid of the clients that are not paying you enough money for the amount of work that you have to do with them. So, if you have clients that are sucking up your time and energy, or if they’re toxic clients, it’s time to let them go. You can’t earn more money if you’re working long hours for clients that aren’t paying you what you’re worth. 

Say No

The last step is to say no to things that are not going to make you money. Some people have a hard time saying no, especially in their business. Maybe it’s because you’re a people pleaser, or you think you’re offering value and eventually, those people will see that. There’s a whole load of reasons why people end up taking on way more work than they have to, and they end up volunteering their valuable time, space, and energy for things that are just not going to pay them. Now, does this mean that you shouldn’t do work pro bono or that you should not volunteer? Absolutely not. What I’m saying is that if you want to earn more money, you have to say no to the things that aren’t achieving that goal for you. You have to take care of yourself first. 

So, those are my six tips for so you can turn your business around this quarter. These are the six easiest things you could do in order to make the biggest impact the fastest. 

Resources that are mentioned or add value to this episode:

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