How to make a consistent money in your business
Oct 09, 2020
⌚ 4 min read
Just like there are one hit wonders in the music industry, there are one hit wonder months of revenue for entrepreneurs. Hint: those are the screenshots of 5 and 6-figure amounts you see entrepreneurial gurus posting on social media.
What you don’t see are the 11 other months of the year, where revenues are ebbing and flowing and lack-luster compared to that one staggering month.
Keeping up a social media image of success feels good, but it’s not what will help you build a sustainable business.
If you’re going into business expecting month after month of staggering revenues, you’ll be left disappointed.
The Fix: Create a strategy for consistent revenue
Entrepreneurship isn’t like a traditional job where you have the security of knowing your income month to month. However, there are strategies you can use to ensure your business will be making consistent revenues.
You need two things: a plan + an understanding of business development.
The number one reason entrepreneurs don’t have consistent monthly revenue is that they’re lacking a plan for lead generation, leaving their pipeline empty of potential customers.
Look at it this way, even when you have your hands full with customers, you should always be working on bringing in more. You never know when contracts will end or customers will leave.
You might be thinking, “But I’m already doing the whole lead generation thing.” Randomly posting on social media isn’t lead generation. Even regularly posting on social media isn’t lead generation. It’s just one piece of the plan because social platforms aren’t in your control and if an algorithm change affects your reach, you’ll be left with no sales. Remember, social media is just one part of the bigger plan.
How to create a powerful lead generation strategy
- Your content must be convincing - There is so 👏🏻 much 👏🏻 noise online. Entrepreneurs are constantly posting trying to convince potential clients of their skills. But what really cuts through the clutter is SHOWING your expertise through your content.
It’s a simple process: offer value and your prospect will want more. Value is created when you address your audience’s pain points. This will get your audience to share your content, engage with it, and follow or sign up for more.
This is the strongest part of your strategy, because it attracts the people you’ll eventually nurture into customers.
- Find other audiences to engage with - Step one is all about showing value to your audience. This step is about expanding to other audiences that may also find value in what you’re offering. The way to do this is through guest opportunities. There are plenty of opportunities out there to collaborate with others and open yourself to brand new prospects.
Touch on these three factors when appearing as a guest: show who you are, what you know how to do, and how you can help solve their pain points.
- Show your expertise firsthand - This tip works best for service-based businesses, but you can get creative and adapt for products as well. Try offering a training session, beauty treatment, hair cut, or whatever it is you do. Then shoot a live video with that winner. You will generate increased engagement with people wanting to win and then wanting to see how you do what you do.
People buy from those they know, trust, and like. Demonstrating your expertise firsthand jumpstarts the buying process with customers, because they start trusting that you can walk the walk.
Finding creative ways to showcase your expertise will help generate leads that might have otherwise hesitated to consider you. The key is to do more than just talk!
Start building your lead generation strategy to fill your pipeline and avoid the ups and downs of inconsistent monthly revenue.