6 Ways to Increase Revenue That Actually Work for Solopreneurs
Are you tired of getting ads online about how you can make $10K a month WITHOUT any work? You've just got to try so-and-so's course, their membership, or their product…whatever they're selling.
Yeah, I’m tired of it, too.
Starting and growing a business from the ground up is a lot of HARD WORK. Please don't be fooled by people trying to sell you slimy marketing "hacks" that promise to fast-track you to millionaire status.
If you're just starting out, I want to warn you that it will be hard sometimes. This entrepreneurship stuff isn't for the faint of heart. I can't tell you how many times I've cried into a pint of Ben & Jerry's (flavor…?) ice cream after a long day of work (don't act like you haven't done it, too).
The good news? You can minimize times like these by setting your business on a firm footing. Let’s talk about ways to increase revenue as a solopreneur — that maybe won’t create more work for you.
If you want to know what you should focus on to see consistent results while making a sustainable income, scroll on!
A Simple Set-Up
You want a fancy funnel that sells a signature program with upsells and downsells and all the bells and whistles. But what you really need is something that sells. Of course, before you can make that fancy-schmancy funnel, you need to create a product or service!
Sure, you may know you want to coach entrepreneurs, make YouTube videos, or create courses, but you need to get more specific about who you are selling to and what problems you can solve for them.
Engage with your audience! Figure out what they want. Then, when you've got an idea, offer beta-testing so you can get real feedback.
You'll also be much more prepared to launch it to the public because you'll have testimonials to help people understand your product or service is worth the money, and have worked out the kinks, giving people a better user experience!
I spent two whole months creating a course that sold to four people. Four. And one of them was a friend who pitied my poor soul. I would have MUCH RATHER focused on building something smaller, taking it one step at a time, so I could know that there was a market for it.
Focus on Selling a Product
You need something people can buy.
Client work is great. Building those one-on-one relationships and making an impact is probably one of the reasons you started your own business. But growing is hard when your entire schedule is full of client work. You're going to get tired and skip out on growing your business since it isn’t putting money into your bank account right this second.
That’s why I love passive income so much — aka work that isn't going to take up more of your time.
Here at TLHQ, that's my P.R.E.P system. Is it my highest ticket item? No. But it's on sale all year long and consistently brings revenue to my business even if it doesn’t have a massive price tag.
Know Where Your Traffic Comes From
You're not going to make money if no one sees your offers. Get people to that sales page! Promote it on Instagram. Promote it on YouTube. TALK ABOUT IT!
I know social media can seem a little bit like a shot in the dark these days because there are so many rules you have to follow to be "successful," but when you promote your offers online, you're creating a return on the time and energy you've spent making content versus pointing and dancing at the camera just to get noticed.
Get Feedback
When I was in the early days of my business, I wished I had a closer relationship with my clients and the people who bought my products. Word of mouth and social proof (aka testimonials) are the BEST way to assure people that what you have to offer is worth it.
People want to know that what they're investing in is valuable for them too.
Get on the phone with your clients. Send them emails to see where they're getting stuck. Be there for them, because working with people is rarely ever about just you.
And when you get feedback, don't get mad, don't take it personally. Listen to it. Make updates to what you're offering. Otherwise, what's the point of you making things when they're not even helping your target audience?
Focusing on feedback is important because you get:
A better understanding of your target audience
Better content and copy
Better products
Better testimonials
And more sales
It's not always the most fun or most glamorous part of my business, but it's something that holds a lot of weight. Right now, we're talking to VSA 3.0 members and getting weekly feedback to make sure the program is working for them. We've had over 20 phone calls with members to make sure we understand their pain points and where they're getting stuck to help them go further.
How to Do it All Solo
I get it. Doing this alone is overwhelming, but you don't have to do this all right now. Small steps forward are still steps forward. When it was just a one-woman-show around here, this is what helped me the most:
Spend less time online — stop consuming and start implementing!
Audit how you're spending your working hours, see what's a time suck, and plan to go forward with things that are generating revenue.
Create content that grows your email list and directs people to your sales page.
Ask for clients for referrals.
Host a workshop or webinar.
The point is you want to grow a relationship with your audience. That will be one of the most valuable things you'll ever do to scale your business.
Embrace Minimalism in Your Business
Now that you know some of the revenue-increasing strategies I’ve used to get where I am, there’s one more you should know about: minimalism!
If you want to look into how I've been transitioning into a more minimalist business approach, watch this video!
No, I don't rant about getting rid of your Macbook or the importance of cleaning out your closet — this minimalistic approach is all about your mindset!
I give you some practical ways to tell shiny object syndrome to take a hike and start focusing on only the essential components of your biz. I give you a complete breakdown of what I did to make my life and business life easier while still making money.
