4 questions I ask myself when my revenue is stuck:
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Hey Reader, Here are the 4 questions I ask myself when I'm not seeing my revenue grow: Are you spending enough time on your project or giving up to early? Give a business idea at least 6 months to a year before calling it quits. Typically, the growth I experience happens in leaps rather than a steady incline. So, you have to be consistent and patient.
Are you selling something that people want? The biggest risk or riskiest assumption* in your business isn’t whether your product works — it’s whether people are willing to pay for your solution. An easy way to test this is to sell to 20 people in your audience. At least one person should buy it. If they say anything but yes, that's a no. Here’s a template: “Would you be interested in [dream outcome] in [time frame]? Best part, it’s [enter some kind of guarantee or ROI]. For example: Would you be interested in adding $10k+/mth to your business? Best part, its on a pay-on-results basis Are you getting your offer in front of enough people? You’re here if your customers like what you have, but sales are sporadic and inconsistent. You need more eyeballs to see your product, aka marketing. Building an audience is a long-term solution. So, post content, but focus on warm & cold outbound* - virtually knocking on doors. It’s the fastest way to make $10k/mo. Go on LinkedIn and message all your connections. People will respond! Are your customers churning When you provide a lot of value, customers want more from you. You have a leaky bucket if they're not asking for more. Master your process and ensure people are hitting their goals. Client results are the strongest marketing tool. *Riskiest Assumption = the belief or condition that, if proven false, would cause your entire business idea, strategy, or product to fail or lose significant value. *Warm Outbound = Reaching out to someone who has already shown interest or awareness of you, your brand, or your content. *Cold Outbound = Reaching out to someone without prior interaction with you or your business. |
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