The best part of becoming an entrepreneur is that you can create your own money just by taking a little action. I will never forget when I was starting my business and I invested in myself by hiring a business coach. I had NO IDEA how I was going to find the money but I still made that first payment not knowing how I was going to pay next month’s payment. It then inspired me to take action because I knew I wanted to cash flow my business.
I scheduled a webinar the next week, pitched a new coaching program and scheduled 5 free coaching sessions the following week. By the next month, I made double what I needed to pay for the coach. In those first two years that I had a coach, I never really knew exactly how I would get the money to pay next month but it always came in because I was taking massive action and inspired by my coach. I have never been short and almost every month (even when I was sick as a dog with morning sickness and could not work at all!) more money just kept coming in to pay my bills and coaching expenses.
The thing is that it isn’t easy, you have to put some work in to actually get cash flow in your business. In the beginning, you can’t just sit around and wait for passive income to come your way. I hustled hard in the beginning and you will too. The key is I set a goal at the beginning of every month and knew how much I needed to earn that month. Then added 10% because I am always up for a good challenge.
Here are some quick strategies I have used to increase cash flow in my business:
1. Host a workshop.
2. Host a live webinar or teleseminar.
3. Have a sale.
4. Announce a few open spots for your services or a few available products still remaining.
5. Raise your prices (and make an announcement).
6. Ask previous clients for referrals. Tell them they get a commission or reward for referring people your way.
7. Upsell to current clients. Your current clients already love you and want to work with you further remember!
8. Launch a new product or re-launch an old product. Even better, split out a product you already have and just launch one module of it for a very affordable rate. Then, you can create an autoresponder campaign to sell the remaining product at a later date.
9. Offer a VIP option with individual access to you and your brain.
10. Cut out unnecessary expenses.
11. Offer bonuses.
12. Offer free 30 minute coaching sessions and pitch your service/product at the end.
For more cash flow strategies and case studies of my prior Corporate Rescue Plan clients, make sure you join us for our next webinar training.
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