Money isn’t everything, as I often remind people who get caught up in who makes how much. But with the idea of growing or strengthening our businesses, a friend and I recently attended a seminar called Wealthy Women Leaders, led by business coach Pat Mussieux.
Pat says if we want to grow our business, we need to get out of our own way. She cited these major barriers to achieving our potential:
- Habits, including lack of focus, negative self-talk and spending time on the wrong things. She told the group that the first hour of every work day should be spent on a revenue-generating habit, not email.
- Attitudes, to money, to people, to people with money.
- Beliefs about what’s possible for you, your business, your life. A story about car dealerships selling cars in Edmonton in January underlined how believing something was or wasn’t possible affected whether it happened or not.
- Expectations. “You get what you expect, not what you want,” Pat said.
Pat encouraged us to figure out what drives us, asking “What is your why?” To each reason you come up with, ask yourself “Why?” or “So what?”
From this, you can create your positioning: Who you want to help; why you want to help them; why you are qualified to help; what struggles you have faced and overcome; where you are going and growing. Identify what you want and ask for it. Write down your goals.
Pat recommended three ways to make more money:
- The most effective way is to get out and talk to people, at association events, giving workshops, radio or TV interviews and webinars. While you’re out there, why not have a book to sell?
- Identify your ideal client and fire the rest. Keep the A clients, the ones who pay well for what you want to do, and the B clients, who are good but maybe you have neglected them. Get rid of the toxic people in your life.
- Raise your fees. If you’re uncomfortable doubling your rates, then add 20 per cent. Look at packaging your services in a way that speaks to client needs related to time, money, health or relationships. For example, look at the popularity of pre-packaged Caesar salad ingredients, which sell at a premium over a head of plain lettuce because they save time.
Besides public speaking, your business growth should be supported by free offers (reports, a chapter from your book); articles on your own site, in magazines and elsewhere; networking; social media (blog, Facebook, Twitter, LinkedIn, etc.); and a presence in business groups. And don’t forget joint ventures, strategic alliances and other connections with colleagues, clients and vendors.
If you know me, you’ll know that ‘public speaking’ is not something I intend to pursue, but I do see the value. What do you think? Is public speaking the best way to grow your business? What else would you suggest?
Image: Dollar Tree by “digitalart” and FreeDigitalPhotos.net.