Are you making as much money as you could be from the services you market and provide? Want to know the fastest way to double or triple your business revenue?
Pat, a voice coach in Kansas City, used the simple ideas you’ll find below to increase her revenue by 300% in just two weeks.
Pat sought out my help because she just couldn’t seem to make her business into the huge success she knew it could be. Pat helps business executives improve their speaking skills and move up the corporate ladder. She had a web site and was using Google Ads successfully to generate leads, and that was the problem.
Pat was generating plenty of interest with her web marketing efforts, but with all the time she spent talking to prospects and then the time she spent coaching clients, she was going flat out and still not bringing in as much revenue as she wanted.
I’ve coached hundreds of independent service professionals over the years; accountants, authors, coaches, consultants, plumbers, trainers, search engine specialists, web designers, real estate agents, and other independent professionals – people who provide services of every kind.
Almost everyone I talk to is working way too hard and putting in long hours. Very few are making as much as they want to make or could be making.
1. Get Rid of the Time-wasters
Focus your marketing efforts on your best prospects and stop wasting time talking to people who aren’t likely to buy.
When Pat got a prospect on the phone, she’d been spending up to 30 minutes talking to them. She was spending a lot of time every day talking to people who hadn’t spent a dime on her services and weren’t likely to.
I helped Pat write a phone script that qualifies her prospects within three minutes so she can quickly determine whether or not they are high-paying coaching prospects and she should continue the call.
Then I showed her how to get the prospects that don’t fit this profile to buy her low-cost CDs. For the rest of the callers, the time wasters, I showed Pat how to politely end the call before they wasted a fourth minute of her time.
To close more sales, learn how to quickly separate the buyers from the time-wasters.
Want to discover the fastest way to make more money with less effort? If you provide a service of any kind, whether in-person or online.
2. Raise Your Prices
Most service professionals think that they’re already charging as much as they can, because prospects and clients often balk at their existing prices.
But nine times out of ten when prospects complain about price, its not the total cost that’s the problem. The problem is that the price is presented out of context, so prospects don’t understand the value of your services. Without understanding the value you provide, a very reasonable price is going to seem high and become a barrier to sales.
Does this happen to you? Do prospects ever tell you that your fees are high or that the price for a project seems too high?
When I first suggested to Pat that she raise her prices, she thought I was nuts. I explained how to present her prices in terms of the value her services deliver. She agreed to try my methods, and beginning that day, started charging – and making – 50% more with each client.
3. Close More Sales
What would your profits look like if you signed up 7 to 9 of each 10 prospects?
What is your closing rate? Could you be closing more sales?
Pat detailed her sales conversations for me. She told me how she explained her services, outlined all the benefits, asked for a commitment and then tried to close the sale. It sounded like the approach that almost every other service professional uses – and it was all wrong.
I don’t know why, but we all seem to start with this approach, and it works just well enough to keep us thinking it’s the best way to sell. Its not!
When I started coaching Pat, her closing rate was 30%. Respectable but not great. I showed her how to sequence the sales call, what to say and when to say it to get the prospect to sell themselves. When she put my system into practice, her closing rate more than doubled; it increased to 70%.
In just two weeks, Pat eliminated time wasters, increased per client revenue by 50% and more than doubled her closing rate. Her income grew by 300%. Let me repeat that; her revenue grew by 300% in just two weeks.