A lack of cash is a horrid place to be but it can be easily remedied if you are willing to take some positive action.
If you are then here’s what you should do…
1) Write a list of all the potential sales you can possibly think of.
This should include:
- All your active sales conversations that haven’t yet ended in a “yes” or “no”.
- Anyone who has expressed an interest in the past but you either didn’t follow up with fully to get a “yes” or “no”, or maybe you kinda ignored the signals so didn’t put it in your pile to follow-up. (This list tends to be pretty long!)
- Anyone/company that would genuinely benefit from your product/service.
Next to each person/company write the value of the potential sale, and now total it up.
I bet that’s a pretty decent amount of sales to go at.
So go get ’em…!
I bet your head just said “yeah but it’s not that easy”.
Shock news….oh yes it is!
Right now you have left all that money sat on the table for someone else to take.
But it could/should be in your pocket and not in your competitors.
You need to get out of your own way and make those calls (or whatever action is necessary to get you in front of them. The phone is the best way to do it.)
2) What can you easily create that people will pay for?
There’s 2 elements to this
- What have you already got that you can re-market to get some money in.
- What can you quickly create to generate some money.
Some good example of these are..
“Reviews of…” where you do ~1 hours consultancy with someone to give them some quick value with the aim of up-selling them into something bigger.
Info products that you have already created but didn’t do anything with or that you can quickly whip up. It doesn’t have to be fancy it just needs to be good content..
Once you’ve created it or dusted it off you need to market it really well.
One or two posts in Facebook and an email out to your list just won’t cut it.
I look at it this way…
The amount of action you’ll take is directly proportional to how much you care about generating the cash.
If you aren’t that bothered about getting the money in then you’ll take minimal action and are highly unlikely to shift out of your comfort zone to do it. Sorry but that’s the truth.
But, if you are motivated to get that cash in the bank you’ll hunt down every opportunity to do it.
I know marketing and following up tend to sit outside most people’s comfort zone but if you want to get the money in you have no choice.
I guess that isn’t true because you could go and get a job, but I’m assuming you don’t want to do that.
So what is the barrier to taking action?
Fear of rejection?
Fear of failure?
Feel it’s simply not going to work so why bother?
When I feel myself putting up barriers to taking action I ask myself 2 questions….
- What’s worse? My fear of doing it or the impact if I don’t do it?
- What’s the worse thing that can happen?
As long as the impact of not taking action is greater than the fear of taking action then I proceed.
As long as the world won’t stop turning and the worse that could happen is a few polite “no thank yous” then I do it.
So far in my 7 years of running my own business I have stepped outside my comfort zone loads of times and no one has ever been rude to me, I haven’t keeled over and the world kept turning!
And, I made more money!!
I remember one time very clearly. I was sat working in my car waiting to pick my girls up from school, and I had an email in front of me to send to some carefully selected people about my 1st ever group coaching programme.
I was feeling physically sick at the thought of hitting the send button.
Honestly, I was bricking it.
It was totally irrational so I had to put my big girl pants on and just do it.
The outcome, a 100% filled group coaching programme 😊.
Whatever you are worried about isn’t as bad as you think.
So go put your big girl pants on and take some action to fill that bank account today!