Four reasons why you are not making as much money as you would like to be in your service-based business.
Welcome to Uncensored Sales TV. I’m your host, Ryann Dowdy, a sales coach and strategist that helps high achieving women that leave your nine to five and build six figure businesses by mastering your sales skills and your mindset.
Today we’re going to talk 4 things that are holding you back from making as much money as you would like inside of your service-based business.
#1. Your Business is Optional.
That might make you a little angry. You’re like, well, Whoa, Whoa, Whoa. My business is not optional. Ryan. I work around the clock. I do all of the things. My business is not optional.
I want to challenge you a little bit because what I mean by your businesses, optional is meaning on the days when you’re tired, you don’t feel like it you’ll have client work to finish first and then your stuff never gets done.
Your business becomes optional when it becomes optional for you to actually show up and do your power hour to actually show up and network, to actually show up and build relationships, to actually send the direct messages and build the relationships to book the coffee chats, to book the sales calls.
When it is optional for you to do that your business will continue to struggle because for a business to be successful, you have to be all in, especially as a service provider.
You want someone to be all in on you. You want someone to invest in your services, but if you are not all in that, that doesn’t add up. It becomes hard to get clients because you’re not all in because you’re not 100% committed because you’re willing to put it on the back burner when something else comes up.
And I am not saying this to pick on you. I say this because I get it. I feel you. I remember when I was growing my business while pregnant, alongside a full-time job with a toddler, there were days when I just did not feel like it.
And some of those days I didn’t show up and I promise you, it slowed down the momentum in my business.
Every single time we decide to slow down a little bit. Every single time we pull our foot off the gas, we literally slow down our results. We slow down our momentum, right? So, when it becomes optional to actually show up and do the income producing activities inside of your business, it will become optional for people to invest in you.
When your business is optional to you, it will be optional for people to invest in you.
You have to decide to be ALL IN.
This is not me telling you. You have to work 80 hours a week. No, I don’t care if you are showing up an hour a day, just a power hour, Monday through Friday.
That’s it. But that’s consistent.
That’s not optional. Right?
I’ve heard a lot of people compare business to your baby, right? When your baby is hungry, you don’t not feed your baby because you’re tired. You don’t not feed your baby because you’ve had a bad day. You don’t not feed your baby because you don’t feel like it today. Right? You feed your baby because your baby needs to be fed every single day.
This little baby business is your baby. And it cannot be optional to take care of just like an infant to baby is not. Okay.
So that is the number one reason why you are not making as much money as you would like is your business is optional and you keep stopping and starting.
#2. You are not talking to enough people.
You are not talking to enough people. I truly believe this. I coach this to all of my clients inside both of my programs, that the amount of money you make is a direct correlation to the number of people that know about your business.
The amount of money you make is in direct correlation to the number of people that know about your business.
So if only 20 people know about your business, you’re going to have a hard time getting clients.
We need to make sure that people know that your business exists, and that you were having actual conversations. One-to-one conversations with humans and saying, Hey, I’m a virtual assistant. Hey, I’m a social media manager. Hey, I’m a life coach. Hey, I’m a Pinterest manager. Hey, I’m a Facebook ads manager. Hey, I’m a career coach, right?
We need to be having those conversations because the more of those conversations that you have, the more likely you are of meeting someone. Who’s like, Oh my gosh, a career coach. I need a career coach. Oh my gosh. A virtual assistant didn’t even know there was a thing. Totally need one of those. Right?
But the problem is, is that we don’t often talk to enough people. We severely underestimate the number of people that need to know about our business for us to be successful.
I’m going to give you some statistics.
At any given time, only 3-5% of your audience actually need your services right now.
That doesn’t mean that we’ll ever need your services. But right now, Hey, I’m ready. I have the money. I’m ready to make an investment. I have this problem. I need it right now. 3-5%.
So if you need five clients to hit your income goal, you’re going to need a hundred people in your audience. You have to talk to people about your business. Not to mention the other 95% can potentially become clients. Later.
They become referral partners. They become collaboration partners. They become your friends. They become people that you build relationships with. So the second reason that you are not making as much money as you would like, because you were not talking to enough people.
#3. You are skipping steps.
You are skipping steps in your business. And this one is not your fault at all. Right? There’s a lot of marketing messages out there in the world that tell you all sorts of different ways to grow a business. Things like starting an email list or running Facebook ads, writing a bunch of content and wait for people to reach out to you. There’s a lot of that out there in the marketing world. So you think, Hey, this is what I’m going to do.
I’m going to create a freebie. I’m going to start an email. And this is how I’m going to get clients.
And while creating a freebie and starting an email list is a super, super smart thing to do in your business. It’s not a super smart thing to do yet because you, as a brand new business owner do not yet have enough experience or enough clients or enough data to really decide.
- Who is my niche and who is my ideal client?
- What is the result that I get from my clients?
- What freebie would they even be wowed by what freebie would they be willing to part with their email address?
If you don’t know exactly what freebie your ideal client needs or wants, you’re not ready to create a freebie. But we spend a lot of time on these things because there’s a lot of marketing telling us that we should.
But what winds up happening is that you spend a lot of time, effort, money, and energy on these things. It feels productive. We’re checking things off of our list. It feels good, right? I’m getting so much done. This is amazing. But the problem is as if those tactics, while fantastic tactics are not going to be how you’re going to get your first clients.
You’re going to get your first clients through networking and having conversations and talking to people and solving problems.
That is how you are going to get your first clients. And then once you’ve had a few clients have a couple of wins, get some data and information, then you can really start thinking about, okay, now I’m start ready to start doing more of these advanced marketing and sales strategies in my business.
Okay. So the third reason that you are not making as much money in your business, as you would like, is that you were skipping steps. You were trying to implement marketing tactics that are designed for a more experienced entrepreneur.
#4. There is no clear path. You have no clear path to take random stranger on the internet to clients.
No clear path. What do I do? How do I build a relationship? What do I say? What sort of questions should I ask? How do I qualify people? What should my sales conversation look like? What do I even need to cover in a sales conversation? How do I overcome objections?
All of that, most new business owners don’t think about, right? They don’t focus on they’re so focused on, well, what services am I going to offer? How am I going to deliver on this and systems and processes that I’ve got to have this whole thing in place before I could go out and get clients.
But the first process that you need to create inside of your business is a system to get from Hello to Closed.
And without that system, all of those other ancillary things that you are working on right now that are filling up your brain and making you feel, making you feel a little crazy, right?
Those things are not serving you.
They’re not getting new clients.
There are a million resources here on this YouTube channel to walk you through all of those things. So please don’t think that I’m just going to drop that and not give you any information. Please go through, watch the videos on this channel.
I talked to you about sales conversations. I talked to you about networking. I talked to you about objections. I talked to you about pricing. All of those videos are available for you here on Uncenored Sales TV.
The four things, the four reasons you’re not making as much money as you would like.
#1. Your business is optional
#2. You’re not talking to enough people.
#3. You are trying to deploy a more experienced marketing strategies.
#4. You have no clear plan to get from stranger to clients.
See you soon!