Focusing on Your Skillset for Success and Increased Earnings
Making more money, it’s a universal goal for so many, don’t you agree?
However, it’s not always easy for many and we have pinpointed it to a few key points that hold people back from being successful, truly successful. As such, we have aggregated some key points, taken from the learning of Bob Mangat, The Automated Entrepreneur, on what you need to consider to…make more money.
Determine What You Are Skilled at That Makes You Good Money
Most people know what they are skilled at that makes them good money. Be true to your core business offerings. Focus on making those the best they can be before venturing out and add- ing other products and services.
What does that mean exactly?
Take some time and really think about what you are truly good at and why you fell in love with the business in the first place. While considering that piece, also consider what makes you the most money.
It is a combination of all of those things:
- What you are best at
- What you love most
- What generates the most income
Don’t leave your products or services to chance. Find out what sparks the most interest in your customer base, and go after that. This the absolute first step towards making more money.
Offer Your Ideal Services That Generate the Most Revenue
As a generalization, many people are adjusting their businesses because they think that they need to compete on price.
However, and a big however…
The fact is that this is rather untrue. Yes, there are “deal-hunters”, but there are also people who are willing to pay more for better service.
In essence, instead of having thousands of clients, you may have a hundred clients who are paying more for your services. It’s easier to sell high-priced products or services to a select few than to sell low-priced products or services to a large pool of customers.
With this in mind, you do not have to rely on finding any person who is willing to spend a few bucks before going on to the next guy. These types of low-paying customers are not loyal to your business and shouldn’t be the ones you are ultimately marketing to obtain. Truth be told, it will cause you more problems than anything.
Our recommendation: Stay away from this type of business
You can keep your high-paying clients longer by offering them greater value, thereby building customer loyalty.
At invigoMEDIA, we call this the “less clients, more money” strategy.
Look at the services you’re offering.
The biggest takeaway from all of the information in this article is your bottom line.
Are your existing services making you money?
We will go into more detail later in an analysis of your business that we can conduct, but for now, consider whether the services that you’re offering are making you enough money…period.
If they’re not making enough money, improve them or cut them out of your business.