Three Things You Should Not Be Focusing on in Your Business to Achieve Premium Profits in 2022
As we step into the new year, I want to take this opportunity to talk to you about the three things you should not be focusing on in your business. And they might be a little surprising. They're actually marketing, sales and revenue.
To help me today, I have invited my business bestie, Cassie Saquing, to share her take on revenue, while I will be discussing marketing and sales.
As a premium sales strategist and a business owner, I constantly get clients coming to me asking what they can do to grow their position or grow their leads.
They are spending a ton of money on marketing, yet when I ask them:
“Do you know your return on marketing investment?
“Do you have a sales dashboard?”
“Is your marketing plan working to get you real results?” Even if they've spent money on agencies, the answer is almost always I don't know.
Here is the cold truth. Marketing for marketing’s sake is not the answer.
If you're focusing on marketing over and over again, you may feel flat or frustrated.
Instead, concentrate on focusing on your fascinating ways you can show up authentically & ask what is the right way to position your company.
Uncover the best way that you can show up WHERE is right for YOUR BRAND!
Think about where your ideal clients are - what is their “playground” of where they tune in for their ideal dream health, wealth, design etc. You can not market effectively if you are not where your clients are in order to see your offer.
Clients may tell me their number of posts and likes on Instagram, Facebook or on Pinterest, and that's not where their actual clients are. In fact, they may not even be on social media at all.
Sounds crazy doesn’t it- but for instance, certain brands find they have better results when they sponsor an event, JV partner, run their own event and so on. The ideas are endless. For instance, Rolex never runs TV ads or online ads, but they sponsor high-end sailing events because THAT is where their ideal client is. If your goal is to work with wealthy women, let me remind you that Fergie, The Duchess of York, is not scrolling through Facebook looking for a personal trainer!
One of the top things that I really want business owners to do in 2022, and any year, is to stop focusing just on marketing and take the time to understand how you best show up in the market and how you best communicate in the playground of your clients.
“Cookie Cutter marketing will just have you spend money without clear results”
As a sales specialist, people often come to me asking how they can grow their sales and how they can get more clients and more leads.
Typically, that's the wrong question. Sales will help you only if you understand what you're selling.
When clients come to me and say they need to generate more revenue, yet they don't understand how they're serving their client and solving their problems, then they're actually focusing on the wrong thing. They're focusing on a number in a spreadsheet. Sales, sales, sales. But in the end, sales only gets you so far.
If you want to scale your business and you want a magnetic business culture that people want to be a part of, you must take the time to understand how you serve your client and solve their problems.
Think about your ideal client and the problem they face. It could be weight, stress, what to wear, the issues they are trying to solve are endless. Now think about your business and your product as a way to solve it.
Invite the client into a solution. Think of serving your client through solving this issue, not selling them and they will be more receptive to investing at a premium to work with you!
Do not focus just on the sales - that will actually hurt you, not help you grow. Focus on serving your potential client and those numbers will turn into revenue.
But here's the thing about revenue…
“Sales is about connecting and serving, not just numbers”
We always say, don't focus on marketing, sales and revenue. The revenue numbers are only the top-line number and we want you to focus on the bottom line: profits.
You've heard about the two comma club, people boasting about a million dollars in revenue, six-figure, multi-six figure, multi-seven, etc. Those amounts can be misleading though, because no one ever shares how much they keep after expenses.
Profits are what you keep, and there are so many ways to get a higher profit margin.
Look at how to cut out things that are unnecessary or redundant. Know with confidence which spending efforts are aligned with your goals and what is the right way to invest back into your business, growing your business exactly the way you want to.
Every business is so unique. So revenue numbers are not always the answer to more profit.
It's so important as we enter this new year that we focus on how we want to align our businesses with our lifestyles and our future wealth building.
Even when it comes to scaling, not everyone has to scale the same way. Stop looking at those cookie-cutter templates telling you how to scale and how to get to seven figures in revenue.
Stop looking at that and start focusing on profit. Focus on your PROFITS and what you desire to keep at the end of the day.
There are small tweaks that can be made in your business to grow your profits without more hustle and grind to grow your revenue.
One way to grow your profits is truly knowing how to value your offer/ product and charge the right price. Are you truly valuing what you do offer to your clients? Are you charging enough for your phenomenal services, taking all expenses (and taxes!) into account? It is all too easy to not build unseen expenses into your pricing structure or offer stack.
Have you also taken a hard look at your spending and are you still using all the small tools, subscriptions, etc. in your business?
Are you making sure that you get PAID FIRST? Yep, you actually should be the top line on the business expense list, NOT the bottom line!
Small tweaks in your current business outline can make a real difference in making sure your efforts are rewarded
We can't express enough that the things you can focus on :
- Instead of marketing; customize your positioning.
- Instead of sales, focus on serving.
- Instead of revenue, focus on profit.
These things will grow your business. These things will make the difference whether it's 2022 or beyond.
Have questions on how to implement these areas in your business area, join us for our Premium Profit Retreat a live hands-on workshop or catch the replay here: