[Building Your Business] – Why You Need a Million Dollar Plan for a Million Dollar Business, part 3
5 Money-Making Action Tasks for Your Million Dollar Plan
Inaction is the death of any business. Without taking regular action every single day to grow your business, inaction will cause your business to become stagnant. Clients will disappear, your sales funnel will be empty, and your revenue will dip to zero in a heartbeat.
Let’s avoid this scenario! Plan ahead and you’ll get ahead.
Here are five action tasks that will lead to increased income and business growth.
- Email Your Customers Regularly.
Contrary to popular belief, email marketing is NOT dead. Email is the easiest and most effective way to stay in touch with customers and prospects to let them know about your new offerings or to recommend a current product that would solve a problem for them.
- Focus on Customer Service.
You will never please everyone, but you may as well try your best. Inevitably customers will contact you with questions or refund requests so be prepared to answer these requests in a timely manner. Stick to your rules about refunds but never disregard or disrespect a customer. Negative online reviews are easier to find than positive ones. And check www.glassdoor.com to see if your company has any negative reviews.
- Raise Your Prices.
When was your last rate increase? Are your prices competitive with the current market or are your competitors pulling in more money because they are creating more value? Can your ideal client pay more? Be confident that your product/service warrants a higher price and show your clientele the additional value they are getting for the new pricing structure.
- Repackage Your Offerings.
Don’t reinvent the wheel. Simply take your older products/services, tweak them and create an entirely new product. The new product should solve your client’s problem in a better, more efficient manner and bring more value. This will allow you to stay ahead of your competitors and to increase your pricing.
- Create a New Offering for Old Clients.
People buy from those they know, like, and trust, so open up that old client list and create an exclusive offer just for them. Make the offer time-sensitive to get quick action results.
How Do I Know What to Offer?
It boils down to knowing your target audience. How do they want their information presented? What are the hot topics in their industry? What struggles do they have every day? The simplest way to know what they want is to simply ask them.
One reason many Business Owners, Entrepreneurs, and Coaches don’t know what to offer is because they don’t have a plan, either for their business or who they want to help. Writing a business plan with action steps is imperative for business growth and I’m presenting a Webinar on this very topic.
My free, one-hour Webinar, “Why You Need a Million Dollar Plan for a Million Dollar Business Plan” will help you develop a plan for business growth so you’ll have a road map to get to your business dream. If you want to leverage your business to the next level, follow this link.