Determining your skillset is pivotal to your success and earning the living you want. You need to focus on what it is that will make you more money.
Making more money, it’s a universal goal for us all.
However, it’s not always easy for many and we have pinpointed it to a few key points that hold people back from being successful, truly successful. As such, we have aggregated some key points, taken from the learning of Bob Mangat, The Automated Entrepreneur, on what you need to consider to…make more money.
Ask “What You Are Skilled at That Makes Money?”
Most people know what they are skilled at that makes them good money. Be true to your core business offerings. Focus on making those the best they can be before venturing out and add- ing other products and services.
What does that mean exactly?
Take some time and really think about what you are truly good at and why you fell in love with the business in the first place. While considering that piece, also consider what makes you the most money.
It is a combination of all of those things:
- What you are best at
- What you love most
- What generates the most income
Don’t leave your products or services to chance.
Find out what sparks the most interest in your customer base, and go after that.
Offer Your Ideal Services That Generate the Most Revenue
As a generalization, many people tend to adjust their businesses because they think that they need to compete on price.
The fact is that this is…false.
Yes, there are “deal-hunters” and always will be. However, those may not be your ideal customer or client. Furthermore, there are also people who are willing to pay more for better service or better quality care.
In essence, instead of having thousands of clients, you may have a hundred clients who are paying more for your services. It’s easier to sell high-priced products or services to a select few than to sell low-priced products or services to a large pool of customers.
With this in mind, you do not have to rely on finding any person who is willing to spend a few bucks before going on to the next guy. These types of low-paying customers are not loyal to your business and shouldn’t be the ones you are ultimately marketing to obtain. Truth be told, it will cause you more problems than anything.
Stay away from this type of business
You can keep your high-paying clients longer by offering them greater value, thereby building customer loyalty.
Look at the services you’re offering.
The biggest takeaway from all of the information in this article is your bottom line.
Are your existing services making you money?
Consider whether the services that you’re offering are making you enough money…period.
If they’re not making enough money, improve them or cut them out of your business.
What our team does, is dive deep into analyzing your business, the strengths, the pain points, and the struggles. We work on fixing that first. To apply to get started, click here.