Saturday, May 18th, 2013

Earning More While Working Less – Part 1

By Karen Dodd on May 23 2011 • Filed under Case Studies,New Clients by Design

Entrepreneurial ideas for increasing your business earnings.

Are you interested in learning how to leverage what you're already doing, work less and make more money?

I recently posed that to one of my own clients, who I'll call Suzanne. She had a "reasonably successful business" (her words)  in the personal services industry. Suzanne had a beautiful website — professional and polished but it really was serving more as an online brochure than actively bringing in new leads and business.

When I first started working with Suzanne she was unable to see how she could generate income, other than what she derived by working personally with clients. If you were a dentist, a mortgage broker or realtor, a financial planner, or a photographer you can see how expanding outside of your geographical area might seem futile, right? People in personal services tend to think that online marketing wouldn't work for them.

In Suzanne's case, the thought of getting huge numbers of new clients was actually a bit daunting. In order to accommodate more clients she saw herself working more hours or having to pay an assistant to help her. Neither of which were particularly attractive options for her.

On our first coaching call I pointed out to Suzanne that she was doing great in terms of having her "pipeline" full. In fact, she was in an enviable position of having built a solid business, based almost solely on referrals. As I explained to Suzanne, you always want to have your pipeline flowing with steady streams of potential new clients but what happens when you reach a point that:

a) you have too much business to handle yourself, or

b) you're getting lots of interest in your services but they're not necessarily the right kind of clients?

Change Your Marketing Mindset

I cannot tell you how many times I have heard solo-entrepreneurs say, "I don't have anything I can offer online," or, "Online marketing is still kind of 'scammy'." (I heard that last one from a "traditional" marketing coach who is wondering why her business is falling off).

In order to have achieved even a modicum of success in your business, I guarantee that you've acquired a lot of knowledge that many people, in and outside your geographical area, would be happy to pay for. By packaging your knowledge and expertise into information products, you can start leveraging yourself without working more hours and usually with very little or no financial outlay.

Think Outside Your Geographic Area

Let's say, for example, that you are a caterer. Obviously you can only cater to people within a certain geographic range and unless you are prepared to hire tonnes and tonnes of people, you can only accept so much business (trust me, I did that in another life!). But what if you took your passion for cooking and entertaining to the Internet and shared it with tonnes of people you would otherwise never reach?

Here Are a Few Ideas to Get You Started

  • E-Books (easy, quick and virtually no cost to produce)
  • Special Reports: (you would typically give this away on your website free as a "list-builder")
  • Manuals
  • Workbooks
  • Journals
  • Audio (downloadable MP3 files, CDs)
  • Video (DVDs, downloads…with YouTube and the like, it has never been easier!)
  • Home Study Courses or Tutorials

Once you have written or recorded the information that you already have in your head (or hire someone ONCE to do it for you), you have effectively "cloned" yourself and your knowledge can literally be working for you 24/7, whether you're there or not.

Think about it: you could be sitting on a beach in Tahiti, dabbling your cute little toes in that warm turquoise water, hearing "cha-chings" in your head! That, my friend, is passive and leveraged income!

In my next article, I'll run some numbers for you to give you a more tangible idea of what you could conceivably make on a very conservative basis.

Until then, remember to market authentically and attract new clients by design!


Read Part 2 – Earning More While Working Less


3 Comments

  1. Some great comments and questions, Seema & Trista! You’ll definitely want to read Part 2 of this article, where I give you real examples and run the numbers for you. I agree that on the surface, it may appear that these principles wouldn’t work for people selling goods or commodities but actually, nothing could be further from the truth! I’m looking forward to sharing that with you in my next article.

  2. To the above comment: I believe this article is helpful, but I do agree that it needs more clarity in how to go about: getting an ebook, what website? But businesses with in selling goods or commodities, it does such as the ebook you can write an ebook about the product, the research it took for you to put the product together and things of that nature!

  3. The article is definately thought provoking but requires more clarity. This ahould work more for the service industy like motivaters, decorators or people offering training or education. How would it be helpful monetarily for the people in selling goods or commodities.

Leave a Response

No soliciting.

Your email address will never be displayed, but, is required to validate your comment.

In accordance with the Terms of Service, submitting a comment grants Entrepreneurial Woman Magazine a perpetual license to reproduce your words and name/web site in attribution.