Let’s face it, we all get into business to make money.
The road we take to start our business is always different. What inspires us to start our business and what motivates us to remain in business is always different. But, I’m pretty confident in putting it out there that the main reason we’re hanging about is for that end result – to make money.
So what happens when you’ve been in business for a while?
The motivation is high when you first start your business. You’re enthusiastic and you’re keen to make your mark. Everything goes along (sometimes smoothly, sometimes not so much) until you start to want to work smarter.
Or you want to work less hours.
Or you want to make more money.
Essentially, you reach the point where you want to grow your online business.
So, what can you do?
Short on time? View this video to get the lowdown:
#1 way to grow your online business: Increase the number of clients you have
Here’s a way you can grow your business – get more clients.
This is clearly different to getting more leads. You want leads, but you want to convert them into clients.
Could be a long-term client you’re looking for (and so you might only want a few of these clients). Or it could be a one-off project client that you’re looking for (but you might be keen on getting lots of these).
Regardless of your niche or your product, if you want to grow your online business, one way to do this is to increase your client numbers.
We’ll talk how to do this later. In the meantime, let’s move on.
#2 way to grow your online business: Increase the average transaction value per client
Say, what now?
Yeah, I had to read that sentence a few times too. But essentially, another way you’re going to increase your online business is by increasing the amount you charge each client
That is, if you’re not going to increase the number of clients you have, then you need to charge the ones you have more, to get more.
So, how do you go about changing your service pricing and charging more of a premium price? Yep, we’ll get to that as well.
Quickly though, let’s look at the last way to grow your business.
#3 way to grow your online business: Increase the number of transactions per client
It’s so simple when you think about it, isn’t it?
If you’re not going to increase the number of clients you have. And you’re not going to charge your clients more. Then the only other way to grow your online business is to increase the number of transactions each of your clients currently has with you.
Put simply: get them to buy more of what they currently buy.
Whether that’s hours or plants or candles or trips to Africa. If you can get them to buy more of them at the current rate, then you’re going to make more money.
Right, I promised you the how, so here it is
There’s one thing I hate – clicking on interesting blog articles and not getting the answers you’re after.
I’ve told you the ways that you can go about growing your online business, but I haven’t shared with you how to do it.
Here it is: Create sales funnels.
Yep, you can grow your online business substantially by creating sales funnels to help you build earnings that are not linked to your hours or your hourly rate.
Create a sales funnel and start seeing your online business growth soar! Click To Tweet
But how? And where? And maybe a bit more about the why?
So, creating a sales funnel means that you develop something once and sell it to several clients. Infusionsoft wrote a handy article about sales funnel tips and tricks: read it here if you fancy. I don’t use Infusionsoft, but it may be a CRM that you choose you use for your sales funnel.
There is a technique to a sales funnel. It’s a bit of a mastery, but once you’ve got the basics, and the technology, and the flair and sass, and the product you’re going to sell, well, you’re almost there! More about the technology and everything else needed behind setting up a sales funnel in another post.
Yep, it’s a long process, but like all great things – they come to you with time and patience.
If you want to find out more about the first step to a sales funnel, then read this more in-depth blog post about how to create a landing page that converts. It will come in handy in your journey to growing your online business.