How can you know what to focus on in your business in order to produce the greatest new growth?
It can be hard to decide where to invest your limited resources with so many options available to you. As a result, we easily end up overwhelmed, spread too thin, or focused on the wrong areas.
The best way to make your growth strategy clearer, more focused, and more effective is to first realize that there are only three ways to grow your revenue and deliver greater value to your audience: attract more leads, convert more leads, or boost lifetime customer value.
There is a myriad of tactics and strategies you can adopt, but all of them fall into one of these three areas. It’s important to first know which of these three is most important at a given moment based on the stage your business is in and your current goals.
Let’s take a closer look at these three areas and when it’s best to prioritize each one.
1) Attract More Leads
Typically this means building your email list of prospective customers and loyal audience members.
We often think of branding and visibility for growing our business, but these are only effective if they start people on a customer journey with your brand (i.e. they become a targeted lead). This is the first place to focus on a new business that doesn’t yet have a steady flow of leads.
Attracting more leads consists of launching new content marketing channels, putting into place paid ad campaigns, organic SEO, and PR to name a few. Read more
3 insidious ways monetization shyness is killing your business
To continue our recent content about monetizing your expertise, I want to talk today about “monetization shyness” — something that will greatly hinder your ability to generate income if you don’t identify and fix it.
The danger is that we often don’t realize we’re doing it.
Monetization shyness typically shows up in three forms. Take a look to see which ones might be biting you.
1) Not Selling to Your Audience At All
For years, I — and I’m certain other colleagues — counseled Pat Flynn, popular marketing expert, author, and speaker, that he needed to sell his own courses. At the time, Pat’s income was entirely derived from affiliate commissions. Even though he was doing quite well, it was severely limiting his income growth potential and leaving his business at risk because his sources of income were all ultimately outside of his control. Read more
The Only 3 Ways to Grow Your Income and Impact
How can you know what to focus on in your business in order to produce the greatest new growth?
It can be hard to decide where to invest your limited resources with so many options available to you. As a result, we easily end up overwhelmed, spread too thin, or focused on the wrong areas.
The best way to make your growth strategy clearer, more focused, and more effective is to first realize that there are only three ways to grow your revenue and deliver greater value to your audience: attract more leads, convert more leads, or boost lifetime customer value.
There is a myriad of tactics and strategies you can adopt, but all of them fall into one of these three areas. It’s important to first know which of these three is most important at a given moment based on the stage your business is in and your current goals.
Let’s take a closer look at these three areas and when it’s best to prioritize each one.
1) Attract More Leads
Typically this means building your email list of prospective customers and loyal audience members.
We often think of branding and visibility for growing our business, but these are only effective if they start people on a customer journey with your brand (i.e. they become a targeted lead). This is the first place to focus on a new business that doesn’t yet have a steady flow of leads.
Attracting more leads consists of launching new content marketing channels, putting into place paid ad campaigns, organic SEO, and PR to name a few. Read more
3 New Ways to Generate Income with Online Courses
It’s no secret that digital courses are a great way to monetize your ideas and expertise.
But did you know there are seven different income streams you can create with an online course? Understanding these strategies opens up possibilities for growing your business using existing intellectual property.
Often, you can use more than one strategy with a single course offering.
Today, I’d like to share with you three of the seven often-overlooked strategies that I teach my clients and workshop students. The following is pulled from Launch Your Course — one of my online courses.
Strategy #1: Customer/Client Attraction
Online courses are a low-risk, low-cost way for a new customer to do business with you for the first time. It’s a lot easier for someone to invest in a lower-priced offering than it is to invest in services that cost hundreds or even thousands of dollars.
The course gives them a taste of what you can do, earns their trust, and preps them to invest even more in your other products and services.
Small Biz Trends reports that you are 14x more likely to sell to someone who has already bought from you before. They are willing to spend a lot more money the next time they do business with you, too. Read more
How to uncover and leverage your unique genius
Focusing on your unique genius and strengths in your business, body of work, and daily activities provide you with the greatest opportunity for fulfillment and growth in your work.
Leveraging your strengths is also your greatest opportunity to create value for others and to contribute to something bigger than yourself.
When used in the right way, your strengths are a competitive advantage and a key element for strong brand positioning as a thought leader. A strong brand position helps you stand out and attract your ideal audience and customers.
Understanding your unique genius also helps you create courses, products, and services that leverage your strengths. When you do this, you create greater results for your clients and students. Read more
Are you taking this opportunity for granted?
I told her she was overlooking a huge opportunity.
I was on the phone with a client who wanted to build a personal brand as a thought leader in the homesteading niche.
She and her boyfriend recently purchased a plot of land. She was waiting to start the brand because they have a lot of work to do before they can move there.
I told her that would be a mistake to wait. Then I gave her the following advice.
“Capture everything you do, starting now. Shoot videos with your phone, take photos, and/or take lots of notes to turn into blog posts. But whatever you do, start sharing your journey online now. There so much you will be doing in the coming months that will be fascinating to the audience you want to attract.”
Building a fence around the property.
Setting up an address with the Post Office.
Researching what kind of solar panels to install.
All of these topics would make for excellent audience- and brand-building content.
One of the best places to find compelling content is in your day-to-day activities. Read more