I recently shared an email with the Exceptions community about finding the RIGHT clients and then saying NO to anyone that doesn’t meet your criteria. Something I certainly did wrong at first (as most new businesses owners will take whatever they can get!).
Anyway… today I wanted to talk to you about reassessing your business goals, and I wanted to outline how you can double your income and half the workload. Here we go:
I wanted to make $10,000 a month from my marketing business. At the rate I was going, I was not even close to that. I was adding serious value to my clients but I was undervaluing myself and charging too little. I also didn't have enough time in a day to make that a reality without sacrificing the quality of my work. Two of the biggest problems service-based businesses often have.
So - what did I do? I made a plan.
Step One: I mapped out the exact amount of services I needed to do each month:
- 1 x Website ($1500)
- 5 x Facebook Ads Clients ($1200/m x 3)
- 1 x Personal Branding Client ($4900)
Step Two: I identified the ideal clients I need
Ideally you will go into more detail with your customer avatars, this is just an overview.
Small businesses updating their brand. Reply quickly, know what they want, have content provided, not annoyingly fussy, and don’t haggle over small amounts of money. Quick turnaround (1 - 2 weeks max).
Dentists, chiropractors and medium sized businesses that have steady income. Looking to expand and understand my model. Not reliant on this Facebook campaign to make or break their business, or they will be very difficult to deal with and a short minded.
High achievers making at least $200,000+ a year in real estate / sales / consultancy / doing individual work. Killing it in their field, but doing terribly online with a digital brand that truly sucks. They want to be the best in their industry and are committed to becoming a market leader. In it for the long game and don’t expect unreasonable results to happen overnight. Committed, and provide me with adequate amounts of content.
Step Three: I repositioned my offering.
I realised I needed to get paid more for my time, and that means the price has to go up. But hand in hand with pricing, comes positioning. Raising your price ironically almost instantly gets you better clients (even if you don’t do anything different) but I needed to re-package my offering to appeal to clients with more money.
Step Four: I figured out who I needed in my team.
This is something I wasn't able to do immediately, and if you’re in the position I was, you won’t be able to either (because it requires enough cashflow that you don’t have right now). However, I still mapped out who I would need in my team, and I could hire one at a time as the income grows.
By the way - you obviously can’t do everything in your business. You’ll either have no time available, or you’ll be a control freak. Or both. HOWEVER! I do truly believe that you can’t delegate something until you know it yourself - so before hiring or delegating, try it out yourself (which you probably have if you’ve been doing it all on your own up until now).
- Web developer
- Content creator
- Graphic designer
- Social media manager
- Funnel creator
- Facebook advertiser
- Admin / assistant
Now there may be some areas that you can double up with fewer people. For example in my case, a social media manager could do the content, graphic design and social media in one. A web developer may be able to do the websites and the funnel creation. Look for synergies so you can save money in the short term.
Once I have all these people in place, I can then focus on the most important parts of the business. The strategy for clients, the innovation, vision, design, and sales. Not only am I better at that, it’s more valuable to the clients, allows me to charge more money, frees up my time, and doesn’t make me hate life while I’m stuck doing shit like Wordpress fixing a fricken plugin!
There’s a million web designers. There’s a million graphic designers. There’s tens of millions of people who can do the nitty gritty work. But there’s only one me. And so I need to be doing ME for my clients, and not implementing the tiny details.
And that’s what I want for you. I want YOU to be able to do what YOU do best, and do that all the time.
Imagine if you could focus on doing what you do BEST, and someone else handled all the minor details? Think about how much VALUE you could bring to your clients, and also how much more you’d enjoy your job? AND get paid more!
Now obviously it’s easier said than done. It’s SIMPLE, but it’s not EASY.
It took me a while and I'm still implementing it today. Sooner or later I’ll totally figure it out - and I encourage you to do the same. Don’t spend so long working IN the business that you forget to work ON the business.
So there you have it! Follow these steps and make a comitment to making a change. I hope this was useful to you and all the best!
OH and - if you have anyone in your network that MATCHES my ideal clients that I outlined, I’d love to be put in touch! And if you need anything from me, you can reply to this email or reach me on Facebook at www.facebook.com/mitchhills3
Until next time,