Want 2022 to be the year where you exceed all your business goals? This is not about making a new years resolution, creating a vision board and then waiting for everything to fall into place. I'm talking about putting pen to paper, creating an action plan and doing the WORK to build a profitable year.
These are things I've implemented into my business personally and each year I've seen growth, last year being one of my most profitable years yet. I believe it's what you mentally prepare for in the first few weeks that helps determine your annual income. So let's get started...
Diversify your income
Generally, when you hear diversify your income you think stocks, NFTs, and real estate, but did you know you can diversify your business's income too? Simply start by reviewing your service offers. Is there something that you can offer that you currently don't?
Look back at the previous year and see what service updates you can make that will help your ideal clients. Can you add a form of consulting? perhaps a subscription package? or maybe something passive like a workbook? Listen to your clients and see what they are saying. Is there a need in your industry that you can fill?
My service offerings have changed significantly since year one. Each year I look back at my services and see how I can redefine them to bring more value to my clients, and in turn, build my profit. There have been several times since I started that I've changed, added or adjusted my offering to better suit my client's needs. By listening to them and bringing in these offers, I have been able to grow my platform and attract more.
Confirm what works by reviewing your expenses
Take a look at your previous year objectively. What worked when it came to business investments? Where did you feel you missed out? Understanding this can help you determine where to continue to invest, what to let go of and how to build for a better year. Search for ROIs, and through that, determine how you're going to boost those channels to build a stronger strategy that attracts your ideal clients.
Each new year, I review all my expenses and determine which ones I no longer need and which ones I may further invest in. This includes software programs, devices and subscriptions. Be sure you're not throwing money away in automatic renewals and only investing in items that help advance your business.
Find what you can outsource
Your personal brand defines the direction you take with your business in. To build on profits you need to understand where your time and energy most align. What can you outsource? When you focus on the tasks that you love, I personally find that you're willing to push yourself and do more. By outsourcing, you're able to focus on what matters and find experts to focus on the other elements. It's the perfect example of spending money to make more money.