This week my big topic was REVENUE. In a nutshell, revenue is defined as “income” and as an entrepreneur I’d venture to say, if there is no income, there is no business. So then it would also stand to reason that earning said income is pretty doggone important, huh?!
I’ve been in business nearly 16 years now, and I have found a number of ways to generate revenue consistently. This week I decided to share a few of those tips with my Nudie Patooties! Here are few tidbits that I dropped.
Tip #1: Teach people “How to _____.” The more simple you make it, the more revenue you will generate.
Generating revenue should be the top priority of your brand. If you have ONE thing of value that you can teach others, you have an opportunity to drive revenue into your business.
Tip #2: Wealth isn’t only about what you earn, it’s also about what you save.
One thing society fails to show you is that the wealthy stay wealthy by living as if they aren’t. Having a savings isn’t for show, it’s a setup for financial freedom down the road. Life happens, be prepared!
Tip #3: Set monthly, quarterly and annual revenue goals.
Tracking your success in smaller increments allows you to gauge if your business is on track to meet your annual revenue goal. Waiting until the end of the year to try to meet your goal is a good way to lose your sanity and possibly get discouraged. Start with smaller goals that will feed into the main one.
Tip #4: Old customers are GOLD customers! It takes 80% more resources to land a new one.
I can’t stress this enough, it’s cheaper to keep them! Your seasoned, loyal clients are the bread and butter of your brand. They know you and they trust you. They know you under promise and over deliver every time. It’s always a good thing to get new clients on your roster, but don’t forget about the old gold you already have!
Tip #5: Follow 2 of my favorite Money Mavens online!
I’ve shared some of my tried and true revenue generating tips but don’t just take advice from me. I recommend that you follow Tretta Bush (Your Favorite Accountant) and Patrice Hector (The Ultimate Stylist) online for more tips on earning revenue.
So, there ya have it, your four tips you can easily use in your business to assist with growing and sustaining your revenue. Let me know what tips you use in your business to generate revenue for you.