How to Create a Faster Path to Cash
October 30, 2014
Back before I left my job my only goal was to figure out how to make enough money so that I could leave it behind for good.
Having a steady paycheck I was used to the consistency it gave me and worried about how I’d ever replace it.
But with so much to learn and do as a newer entrepreneur I was often left overwhelmed and uncertain about what to do.
You’d think that with my background in the financial and insurance field I’d know what to do but I just couldn’t wrap my head around how to create a profit plan that would help me earn consistent income month after month.
As I began to invest in growing my business I was spending money figuring out how to make more of it. But when I didn’t see my efforts paying off I turned to the next option and tried that.
I did all the wrong things.
Like spending time writing a book when I should have spent time creating income.
Like creating a $197 program and not having a big enough list to sell it to.
Like working on my website when I should have been figuring out how to bring in more money.
The list goes on and on.
Then one day it hit me – it was when I’d realized how much money I’d spent trying to learn how to make money and discovered to my shock and horror how in debt I was.
Upset, humiliated and frustrated I had to figure out which activities I needed to focus on that would lead to more income FAST!
That’s when I created my profit plan.
The plan I now use and teach my clients.
A plan that starts with focusing on how to bring in more income.
And here’s how it works.
Step 1: Know how much you need to make
Get really clear about how much you need to earn month after month. Don’t guess, know your numbers.
Step 2: Stop doing things that aren’t making you money
As soon as I got clear about which activities would lead to more income I focused only on those and stopped doing the things that didn’t’ generate money.
I stopped spending hours on Facebook and I started using social media with a purpose – to network and get clients.
Step 3: Build your list
I’m sure you’ve heard this a million times but it’s true – the money is in your list.
You must focus on building your mailing list so that you bring in more new leads all the time.
Step 4: Focus on getting more 1:1 clients
After I got clear on my numbers, stopped doing things that didn’t generate money, I then began working on using the internet to get more clients.
I used email, Facebook, Twitter, networking, teleseminars and webinars.
And it all worked!
That first month I made $12,000.
And from there I began generating consistent income month after month.
All because I created a profit plan that’s centered around getting clients and using the internet to do it.
And once I figured out how to do it I started teaching my clients how to do it too through my Attract Your Clients Quick Start Program and they began getting clients and earning consistent income too.
So if you’re a coach or consultant who’s sick of struggling to create income you must evaluate your actions and start focusing on the fastest path to more clients which in turn will create a faster path to more cash.
And if you’re stuck right now trying to figure out how to do it in your business then check out how you can attract more clients online in less than 28 days using my Attract Your Clients Quick Start Program.
In reality what I needed was a profit plan and you’d think that with years of experience in the financial and insurance field I’d know how to do it, but I just couldn’t wrap my head around how to create one.
Sadly I took a rather circuitous route to steady income that including focusing on all the wrong things.
Like creating low cost products when I didn’t have much of a mailing list.
Like hosting a group program and now charging enough.
Like not knowing how much to charge for my services.
So instead of creating more income I was spending more money trying to figure out how to get out of the mess
And with so much to learn when I first started out I really didn’t know which direction to turn. I’ll never forget the first time my coach told me to stop spinning in circles and just focus on one thing – getting paying clients.
Like many newer business owners I was working on 20 ideas at a time. Like the first program I created and charge $297 and put a ton of work into it and only had one sale.
Not only was I devastated but I’d spent months on that program when what I should have been doing instead was focusing on generating more income.
It’s easy to get caught up in our ideas but when we’re struggling for cash-flow consistency the best approach to take is to go straight to the fastest path to cash – more high-end and 1:1 private clients.
Just think about this for a moment…
I’d love to hear from you. Where are you struggling when it comes to creating more income in your business? Let me know in the comments below.
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