If they're not consistently coming back, then that means you need to be consistently
trying to reach new people to then convert them into the offers that you do
have. And that's pretty exhausting to always have to reach new people to grow
your income. Like, yes, growing your audience is going to be a
non negotiable part of your business, but we also want to make sure that
when we grow the audience, they are staying with us for as long as
possible. They're coming back over and over again. Welcome to Imperfect Action.
I'm Steph Taylor. For years, I read all the books, downloaded all
the freebies, and did all the courses, but it wasn't until I started
taking imperfect action that my business had its first million dollars. Here, imperfect
action is about doing things before you're ready, prioritizing consistent action over perfect action,
and moving forward even when you're not sure you're doing it right. On
this show, you can expect mindset advice, actionable marketing tips and strategies to
build a business that brings you more profit, more freedom, and even more
joy. You want the list to get my daily businesses. Every day,
I'll send you a bite sized prompt designed to help you grow your business in
a more intentional way. Sign up at Steph Taylor dot co, forward slash
DBB, or at the link in the show notes. Welcome back to Imperfect
Action. This is episode seven hundred and thirty one. Today I am sharing
a couple of things that you can implement in your business when you find yourself
in that position of your income just not growing as quickly as you would like.
And I've been here before in my business. You know that point where
you are doing all of the things and yet that income's just not growing.
You're just not making the sales that you want to be making. And I
do want to say this is totally normal. Growing a business can take a
while, and even at each new level, it's totally normal to have little
plateaus. You might think like, oh, I've done this before, Why
have I now plateaued and what's worked for me before is no longer working.
It's totally normal, and this is one of the hardest places to be because
you are putting in so much effort and yet you're just not seeing that return.
And I've seen this little plateau be the point where so many business owners
start then questioning do I need to go and get a job. Should I
be doing this? Should I close it down? Should I pivot? Should
something change? And I do want to say, like, business isn't supposed
to be easy. If it was easy, everyone would do it, and
then nobody would be working jobs, like we need the economy needs people to
be working in jobs. We can't all just be out there running businesses.
And it's not an easy thing. Even though like what you might have seen
on social media, what people will tell you, all of the overnight success
stories you read about, they make it sound like it's really easy. It's
not. Okay. So if you are at this place where you're finding it
really difficult to grow your business and you're struggling to grow your income beyond what
it is right now, I want you to know that this is a totally
normal stage that will probably happen multiple times in your business, and that there
are a couple of things you can start to do about it. So number
one, you can identify the cause of your slow income growth. Now,
there's this lovely income equation that I come back to whenever I'm like, Okay,
this person's not making enough sales in their business, which one of the
parts of the income equation is it and the income equation is the number of
people who are seeing your offers multiplied by the conversion rate or the percentage of
those people who then convert, multiplied by their lifetime value. So how much
they spend with you over their lifetime, with your business or with your brand
that equals your income. And to grow your income, you need to increase
at least one of these three things, otherwise it's not going to grow.
And is it that you're not reaching enough people? Is it that you are
not telling your existing audience about your offers, You're not getting your offers in
front of enough of the right people. Is it that you're not converting these
people? And if you're not converting them, is it that the messaging isn't
aligned. Is it that you're talking to the wrong people? Is it that
you are trying to sell them the wrong offer? Right? Maybe they don't
have the particular problem that you're trying to solve with your offer, or maybe
nobody really wants the transformation that your offer is delivering. And this can be
really tough to hear. I know, like I've created offers in the past
where they didn't solve the problem, or they didn't articulate how they solved the
problem for the right person and that led to them not converting. Or if
you are converting them and you are growing your audience, then are they coming
back to buy from you again and again. That's the lifetime value piece.
And if they're not, if they're not consistently coming back, then that means
you need to be consistently trying to reach new people to then convert them into
the offers that you do have. And that's pretty exhausting to always have to
reach new people to grow your income. Like, yes, growing your audience
is going to be a non negotiable part of your business, but we also
want to make sure that when we grow the audience, they are staying with
us for as long as possible. They're coming back over and over again.
We're helping them over and over again. The second thing that you can start
to do is to get clear on the strategy behind what you are selling.
This is a really common problem. I will see somebody They'll say, my
income isn't growing, And the reason why it's not growing is because they really
only have maybe a one on one way that you can work with them and
maybe one course, and both of those offers solve the exact same problem.
So let's use, for example, a website designer. They might have a
course on how to diy your website, or you can work with them one
on one and they'll build your website for you. And then the problem with
that now is that once somebody has built their website, once they've designed their
website, whether they engaged you to do it for them or whether they learned
how to do it themselves, once that problem is solved, they no longer
need you. And the only way then to keep growing your income is to
keep finding more people who need a new website. The easier way to do
it is thinking about what other problems might they have that you can solve for
them. Maybe problems that they might have before they work with you, for
example, maybe they need to learn how to choose their brand colors and fonts,
or problems that they have after they work with you, like maintaining and
updating their website. There are going to be other problems you can help them
with, and it's so much easier to help them over their lifetime, over
and over again than always trying to find new people who have this one specific
problem that you solve for them once. I dive a lot deeper into this
in my free training at seven Secrets to Consistent Sales. You can watch that
at stephtaylor dot co slash Mafterclass, or if you prefer, you can send
me a DM on Instagram, send me the word masterclass, and I will
send you the link to watch that training. Number three, Be strategic with
your free content to ensure that you are attracting the right people into your audience
and nurturing those people into buyers. The content that you share will determine who
your business attract and if you are sharing loads of how to content and free
tips and tricks, this is probably not moving them closer to buying from you.
It might also be attracting the wrong people. It might be attracting freeb
seekers. And that kind of content is also unremarkable. Everyone else in your
industry is sharing that kind of content, so you're not going to stand out
because you're also sharing the same how to's and the same tips and tricks.
So instead, ask yourself, what remarkable content can you share to stand out,
to attract the right people and to nurture those people into buyers. I
teach this inside Booster You Brand super Fans. It's my four part, four
week crash course to fill your audience with write people, without spending of scent
on Facebook ads, without working on TikTok. If you don't want to,
you can find out more about that at stephtaylor dot co. Slash bybs or
send me a DM on Instagram at stephtaylor dot co send me bybs just one
word and I'll send you the link for that page. You can find all
the details there. Number four Launch something for a cash injection. Now,
this doesn't have to be something brand new. You can launch something that you've
already got. You can launch an existing offer. If you have an existing
offer that is sitting there and it's on your website and it's just not selling
the way you want it to, could you launch that again? For example,
booster Brand Superfans. I created that last year, and I launched it
the first time last year and then didn't have a chance to launch it again
until just recently, and so many people in my audience didn't even know that
it was available, didn't even know that it existed because I had only launched
it that one time, even though it was sitting there on my website and
they could find it if they were looking for it. So, do you
have an offer that you can launch again? If you don't have an existing
offer that you can launch again, could you create a low hanging fruit offer
and launch that something that's really easy for you to create and that solves a
really specific pain point your ideal client has Right now, I teach the ins
and outs of launching a low hanging fruit offer inside off a less sell more
so I won't go to into debt here. But essentially, what we want
is something that's going to be quick and easy for you to create. We're
not outlining a twelve month long course. We're not, you know, creating
this big ebook or anything like that. It's something that you can launch and
if people buy it, then you can deliver it really easily. Or maybe
alternatively, if you don't want to do a low hanging fruit offer, maybe
you've been sitting on an idea for a course or a program. You've been
sitting on this idea for so long and you haven't had the time to outline
it and create it and do all of that. Maybe you could launch that
to your audience and if people buy it, then you create it you teach
it week by week live rather than filming the entire thing before you know if
anyone's going to pay for it. And then number five audit your time.
Where is all of your time going? If you don't have enough hours in
the day, it's really important that you know where every single one of these
hours is going, because it's really easy for them to just slip away from
us and then we finish the day and it's like, I have no idea
what I even did today. So where are you spending your time? Is
it going towards income generating tasks or are you spending it on things that make
you feel productive but actually don't move the needle in your business. A really
fun exercise is to go through and categorize all of the things on your to
do list into ten dollar tasks, one hundred dollar tasks, one thousand dollar
tasks, and ask yourself, is this a ten dollar task? Something like
checking your emails might be a ten dollar task. Doing a sales call might
be a one thousand dollar task. Or building out your webinar that's going to
sell your course that's a one thousand dollar task because that's going to generate lots
of money in your business versus replying to an email that probably isn't going to
make any kind of difference and the time. So those are five things that
you can do to start to grow your income. But in the meantime,
what I want you to know is you need to get really good at budgeting
and minimizing those operating expenses. You need to know your cash flow. That
is the most important part is knowing how much cash do you have in the
bank, what outgoings are going to go out, and what is going to
come in in the meantime. Because once you know your cash flow, then
you can make appropriate decisions rather than blindly guessing like oh, I think I
can afford that, or I'm not sure. You need to know like can
you or can't you? Do you have enough cash flow? Cut your lifestyle
expenses is a big one. So your personal lifestyle expenses, even though they're
not a business expense, they will probably lead to you having to pay yourself
more from your business, so then you've got less cash in your business to
reinvest and to grow your business faster. If you need to consider getting a
job, I did this early on in my first business. I went and
got a part time job, and it was great because it took a lot
of pressure off and it actually I met awesome people. I met the mentor
who became a good friend, who then taught me about podcasting, and that's
how I have a podcast today. So even though it seems like this,
you know it's a failure if you have to go and get a job,
it's actually not. It can be a great way to take that stress off
and keep the lights on in your business while you figure everything out. And
then the last thing I want to say is stay focused on that vision.
So know what you are still working towards. Even when you feel like you
are stuck in the middle of it and you don't know what that next step
is. Keep focused on that vision because that is what will keep you motivated
even when it gets a little bit more challenging. All right, That is
it for today's episode. If you haven't yet left a quick rating or a
review in Apple Podcasts, please do so. I read all of them.
It means a lot to me to know that I'm not just talking into a
microphone into the abyss, So please take a little bit of time to do
that. I read all of them, and that is it for today,
so thank you so much for listening. Catch you next time.