My top 3 tips when money is tight
Let’s be honest - it’s still a bit of an uncertain time for a lot of people.
It's natural to be thinking about cashflow in this climate, I know it’s been on my mind this week.
But there are still plenty of ways for you to manifest more money for your business.
All businesses have ups and downs in cashflow, so if you’re in a bit of lean period - that’s totally normal.
Here are three things you can do when money is tight.
#1 Shut down any unnecessary spending
Are there areas of your business you can scaled back or delay planned spending?
Can you put a few things on hold - maybe that new logo or no new courses for a while?
But don’t cut back on things that will make your life harder or stop you making money!
Click here to listen to my podcast all about finding and plugging money leaks in your business.
#2 Focus on money-making activities
I know it’s obvious, but sometimes we resist it.
It can be really overwhelming when you start to feel that pinch. And sometimes that can lead to procrastination due to fear and overwhelm.
But here's the thing, money isn't gonna come in by itself.
So it's time to focus on purely money generating activities for a little while, which means you might need to put some creation things or other projects on the back burner.
What’s going to bring in the dough?
For example, sending sales emails to your newsletter list. Creating a sale on a product that you've already got, or I bet there's some products that you've got just sitting there waiting to launch.
Another great way to generate some cash is to chase up some of your existing clients.
You know there are always a few clients that owe money, that sometimes you might be little lax in chasing up.
You’ve probably also got potential clients who have made inquiries about your product or service and you just haven’t gotten around to answering - so jump on them and I bet you’ll be able to generate some cash quickly.
#3 Tell people what you have to offer
I love sales strategies (ethical ones of course). But a really overlooked and almost-too-obvious one is just…. telling people how you can help them.
Like, “I have this thing and here’s how you can buy it”
I know, it feels more complicated than that. But for example, if you’re giving a lot for free at the moment to help your community - at the end, say something really simple like:
“If you want to take this further, here’s how I can help you”
So, if you’re doing a free webinar about how to create your own website, you say “and if you really just want me to do it for you, here’s my website package”
If you’re showing people how to really up their self-care right now, you say “and I have a package of candles, face masks and chocolate here”
It works for virtually everything and it’s totally in integrity. Even if all you have to sell is an hour of your time - make the offer.
It’s okay to give for free, and it’s okay to have a solution for people. There’s always someone who wants to take the next step - but they won’t if you don’t offer it.
But don't be afraid to reach out to clients - whether they're established customers, or potential customers.
What you offer may actually be something they really needed right now! So don’t make the decision for people.
Everyone values something completely different right now. Something that feels an unnecessary luxury to one person, might be a vital part of someone else’s self-care, mental health or personal growth right now.
Share what you know can help people and make an offer to the ones who want the next step.
And here’s a bonus tip.
This all comes down to how you feel about money - your money mindset.
I know myself, when I get these lean times or when we’ve got a month with a lot of outgoings, sometimes I let the fear come in and I start to doubt my ability as a businesswoman.
So I want you to stop that right in your tracks because you have to remember exactly why you're in business for yourself.
It's for the freedom, the flexibility, and also the ability to generate more money than he probably did in your old job.
So keep your eye on the prize and remind yourself daily exactly why you're doing this.
Try this affirmation…
“There’s always more money”
If you want more support to work through your money blocks, then the training and community in my Money Bootcamp program might be what you’re looking for.
We’ve helped over 9,000 people like you to make more money and create their First Class life. Come and join us when you’re ready.
xx Denise
Get my Ultimate Guide to Pricing
I've put all my pricing tips, strategies, and SCRIPTS together in my Ultimate Pricing Guide, you can download it for free!