195 | 7 Ways to Create More Cash Flow in Your Business this Fall
People who make more money aren't more deserving; they're just not afraid to ask for it.
LISTEN TO THE EPISODE HERE:
In this episode, we'll discuss seven practical strategies to boost your cash flow and revenue in your business this fall. Cash flow is vital for business success, and these tips will help you make the most of your opportunities.
1. Raise Your Prices
Don't be afraid to increase your prices. Charging premium rates can lead to easier sales and more value for your customers.
2. Make More Offers
Consistently promote your products or services through various channels, relaunching and creating excitement to drive sales.
3. Follow Up
Don't forget about past and potential clients who have shown interest in your offerings. Reconnect and add value to build strong relationships.
4. Offer a VIP Experience
Create premium offerings for your products or services, such as VIP packages, to increase revenue while providing added value.
5. Create Exposure Opportunities
Get in front of more potential clients by appearing on podcasts, speaking at events, or collaborating with others in your industry.
6. Host In-Person Events
Hosting workshops, pop-up events, or collaborative gatherings can provide personal connections with potential clients and generate cash flow.
7. Host Virtual Events
Virtual events are low-cost, high-impact ways to grow your email list, boost revenue, and establish your credibility in your industry.
Remember, people who make more money aren't more deserving; they're just not afraid to ask for it.
Overcome any blocks you have around making money, step outside your comfort zone, and take action on these strategies to increase your cash flow this fall.
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transcript
[00:00:00] Danielle: Welcome to another episode of the business babes collective podcast. I'm your host, Danielle Wiebe. In this podcast, you'll learn tangible business tips and strategies on how to grow successfully and sustainably. We'll also interview seasoned entrepreneurs so you can listen in on their stories and see behind the scenes of what it took to grow and scale their businesses.
[00:00:22] Danielle: Let's dive in as we discuss the wild, exciting, crazy, challenging rollercoaster ride of entrepreneurship. Welcome to another episode. The business school. collective podcast, I am your host and I am excited to dive into our topic today because we are talking all about money today, which can sometimes feel like a very awkward topic, especially the us as female entrepreneurs, building our businesses.
[00:00:52] Danielle: Sometimes we can really get wrapped up in the emotions of things. And so let me guess, you love [00:01:00] your business. You are so passionate about what you do, but when it comes to making sales or asking for money, whether it be for your product or your service, You feel like you are holding yourself back, uh, when it comes to following up with clients, when it comes to pitching yourself for opportunities, you tend to drop the ball because you feel awkward about it and that's okay.
[00:01:25] Danielle: Um, we've all been there and I think building a business is definitely a practice and we get more confident in sales. And increasing our revenue as we learn new things. And also as we really just break free from some of the limiting beliefs that we have around money. So it could be that you have limiting beliefs that you grew up with, or maybe you have a story around money, or maybe you've had a bad experience.
[00:01:53] Danielle: Experience, whatever that might be. I hope that this episode creates a breakthrough for you and gets you [00:02:00] thinking outside the box when it comes to creating more cash flow for your business. Cash is the lifeblood of your business, and I see way too many entrepreneurs leaving money on the table and not seeing the opportunities that are all around them to create more cashflow and revenue in their businesses.
[00:02:16] Danielle: So this week we actually hosted a cashflow strategy. session for some of our clients and mastermind members where we did hot seats to strategize on with each person, how they can create more revenue in their business, more cashflow. And it was so much fun. I loved that we got to do that on our call and we had some really great discussions about money and I shared some tangible tips with each of them that were in the hot.
[00:02:44] Danielle: seat on how they can increase their revenue, increase their cashflow. And so today I want to talk about seven ways that you can create more cashflow in your business. So obviously there are way more than seven, um, that we could go through, but I wanted to keep this [00:03:00] episode short and sweet. I have strategized with some of my clients and some of our mastermind members.
[00:03:05] Danielle: On upwards of 50 to 100 ways they could add cash flow into their business. Obviously they don't take action on all of those things, but it's actually a really cool, um, exercise. So if you are feeling a little bit stuck and you're feeling like you don't have enough money in your business, or you're feeling in that scarcity mode, because I think.
[00:03:27] Danielle: Um, I talk about this a lot and actually there's a lot of episodes of the podcast if you want to go back in the archives of, um, episodes that I do all around abundance. And I'm actually going to link an episode in the show notes for you on why it's so important to have an abundance mentality. And the reason for that is because there is Money all around you there are so many opportunities to make more money in your business and sometimes you just have a brain block and so often an exercise that I encourage my clients or our mastermind members to do is To think of a [00:04:00] hundred different ways that they could make more money in their business And then they kind of narrow it down and then figure out okay What is actually the one thing that they are going to take action on?
[00:04:09] Danielle: So let's talk about it. Let's dive in. Let's get started. So one number one is a way to make more cashflow in your business for this fall season is to raise your prices. Now it's might seem very obvious, but so many people hold themselves back and they're afraid to raise their prices. And I see it again and again in our programs and in our masterminds.
[00:04:34] Danielle: But once our clients actually do raise their prices, They are totally shocked at the results. They find that they are actually able to sell their products and services actually with more ease and they're able to charge premium prices for their premium products and services. So one of the most important reasons why I think it's important to actually raise your prices is because you do not want to start to resent.
[00:04:59] Danielle: [00:05:00] your clients and customers. So when you charge more, you're not only able to provide more value, but you're also, um, you value your clients and customers more too when you charge more. So you can actually deliver a better product and service for them. So number two is to make more offers. So To make more cashflow, there's simply the opportunity to make more offers.
[00:05:28] Danielle: So relaunch your products and services. I see so many people with incredible products, incredible services, but they don't put the excitement and the energy behind their products and services to actually have people take action and buy. They're just kind of passively Maybe sharing about it on social media, or maybe they have a small little email list that they're not growing, and they're just sort of in this hamster wheel of trying to sell to the same people over and over again.
[00:05:59] Danielle: Um, and they're not [00:06:00] actually creating energy and excitement and momentum behind their launches. And so. If you want to make more cashflow and more money in your business, then think about making more offers and relaunching. And so this could be, um, actually just relaunching to your current email list. It could create be creating calls to action on your social media channels, um, hosting workshops, whether that be.
[00:06:26] Danielle: on your own or collaborative with other people, um, creating connections or setting up calls to potential buyers. So keep putting your offers out there and remember that nothing happens until you make a sale. I think we forget that as business owners, we are salespeople. We are selling our products and our services.
[00:06:46] Danielle: So let's not get away from that. Okay, number three is to follow up. So don't forget about your loyal current and past clients who, or people who have already shown [00:07:00] interest in your offerings. So following up is one of the easiest ways to actually increase your cashflow is because you probably have leads.
[00:07:10] Danielle: For your business that have expressed interest in the past that you could just quickly follow up with touch base with send an email to send a dm to and just see how they're doing. See how you can support them. Add value to them. So that's why I love having things of value that you can always offer to people.
[00:07:28] Danielle: So something like a podcast episode or a free resource that you created or something of value that you can actually gift to them and then just ask them how they're doing and use that as a opportunity to follow up. Now, another really great tip for this is, um, and it ties into number two, which is making more offers.
[00:07:50] Danielle: Like I said, if you, if you're going to host a workshop, like a free workshop, for example, you could also follow up with. potential clients or past clients [00:08:00] or even current clients and say, Hey, I'm hosting this workshop. I would love for you to attend and directly invite them. I think often. We're so into this, like, idea of passive income and I want to be making sales passively.
[00:08:17] Danielle: And I'm not against that, I love that, like, I love passive income, um, I'm very passionate about that. However, we can also be active in inviting people into our world and it, and directly Um, inviting people to come to our workshops or, um, attend trainings that we're doing or, um, directly ask them to hop on a call and see if we can support them in some way in our business.
[00:08:43] Danielle: So be direct, follow up, um, don't forget about your past and current clients. Okay. Another, uh, number four is offer a VIP experience. I really, really love this. This is a really [00:09:00] easy way to make more money with what you probably are already doing. So just like airlines have a coach and first class, you can provide a premium option to your products and your services.
[00:09:16] Danielle: So VIP offers can bring a higher revenue and make your clients feel valued. So you can add a VIP option to pretty much anything that you offer. So if you are, for example, I'll give you an example that we recently did for our event, right? So we had a regular ticket for our conference and we also had a VIP ticket.
[00:09:38] Danielle: So the VIP ticket had VIP city seating. We had, um, all our VIPs sitting in the front row. They also got the opportunity to connect and network with the. speakers because we had a VIP breakfast that we had before anyone else came. It also came with a one on one strategy call with me, which I actually don't [00:10:00] do very much one on one consulting and coaching these days.
[00:10:03] Danielle: And so that was a huge bonus as well. Um, we also offered a really incredible swag bag. So we had swag bags for everybody at the conference, but we had really epic swag bags for our VIPs. They were valued at like. I think it was like over 300 or 400 worth of amazing stuff in there. And so, um, that is an option where you can just offer a VIP, whether it be for an event or for a launch or for products and services by making like some kind of bundle.
[00:10:36] Danielle: Um, so, um, an example for this could be like, let's say you're launching an online course, right? So if you're launching an online course or an online program, a VIP option could include a one on one call with you or maybe extra support, whether that be over Vox or elsewhere. Um, and then from like a product perspective, maybe you have your regular products and then you have your [00:11:00] VIP.
[00:11:00] Danielle: products, which is like your premium products, or maybe you bundle your products together and it's like a VIP offer, right? So there's so many different ways that you can do this. And another way you could actually do this is to offer a VIP day for your clients or a done for you service or something like that.
[00:11:18] Danielle: So again, it's a VIP experience is usually more, um, high touch. It's more intimate. And it's a way to offer an upgrade from what you're already doing anyways. So again, an easy way to increase your cash flow and revenue. Okay, number five is creating exposure opportunities. So this one is not directly related to cash flow, but it's more so getting in front of more people.
[00:11:49] Danielle: So if you have a... Uh, an offer, or if you have products that are selling really well, but you're just like, I need, I just need to get in front of more [00:12:00] people. Then you might want to focus on this tip here, which is getting in front of more of your ideal clients. So that could be, um, getting on podcasts, or it could be getting, um, opportunities to speak in front of your ideal clients, whether that be in person or, um, Or online, it could be setting up a, uh, if you have a product based business or even a service based business, it could be setting up a vendor booth at an in person event, it could be speaking at an in person event, uh, it could be collaborating and there's so many different ways to collaborate.
[00:12:37] Danielle: Um, I've done. So many episodes of the podcast on collaboration, which I can link in the show notes for you. So look for exposure opportunities to get in front of new audiences. One of my favorite ways to do this is to host a virtual event, which we'll talk about in tip number seven. So stay tuned for that.
[00:12:56] Danielle: All right. So exposure opportunities. Okay. Number six is [00:13:00] host a in person event. I really love this. So whether it be a paid in person workshop, a pop up event, or a collaborative gathering, something like a Uh, a conference like we did as well, events provide an incredible opportunity to connect with your ideal and potential clients in a more personal way.
[00:13:24] Danielle: Now, some examples of this, if you've never hosted an event before, I highly recommend doing a collaborative event. So think about other people in your industry who. share similar audiences. So let's say you are a wedding photographer. Think about other people in the wedding industry like a florist or a makeup artist or someone who provides decor.
[00:13:47] Danielle: Let's say you could get together as a group and you could host a Um, and you could invite all of your networks to come to that right and all kind of showcase what you have to offer. Now, [00:14:00] this could be a paid event. Um, and I actually highly recommend doing it paid because one, you're going to have a higher turnout if you have it paid, believe it or not.
[00:14:13] Danielle: Um, cause people are way more committed when they've paid something to be there. And second of all, that allows you to increase your cashflow, which is exactly what we're talking about right now. Not just indirectly by promoting your products and services, but directly from the event itself. Um, it also helps you cover the costs from the event as well.
[00:14:31] Danielle: And as you all know, um, our entire business model before COVID was. All in person events. So we hosted monthly workshops and monthly events, and that was our whole business model. We made, I think about, it was like 80 percent of our revenue just from our in person events. So that's another way to add revenue to your business.
[00:14:52] Danielle: Number seven, the last tip that I have is to host a virtual event. This is my favorite one. I [00:15:00] love virtual events. I think the reason why I love them so much is because it's a very low barrier to entry. It doesn't cost you a lot to do so you could host a workshop, but what I would recommend is actually to do a collaborative event.
[00:15:14] Danielle: So you bring together experts in your industry around a specific topic. And the cool thing about this is that virtual events not only generate really great cash flow for your business, where you can either have it free and then have it an upgrade to VIP, or you can just have it as a paid opportunity.
[00:15:32] Danielle: But it also helps you to build your email list and it helps establish your credibility. And also a really cool thing is that even though the way that I structure it and teach it, it's not really focused on growing your social media accounts. But what I have found in hosting several virtual events over the past few years is that actually it helps you grow your social media accounts.
[00:15:57] Danielle: Just by default, because as you're hosting these [00:16:00] events, you are very visible. And so people are automatically asking where they can connect with you online. You can also have within your emails, as you're growing your email list, calls to action for people to follow you on Instagram or whatever. other, you know, Tik TOK, uh, LinkedIn, wherever else you're showing up to, even growing a Facebook group as well.
[00:16:19] Danielle: I think the last event that we did, the last virtual event, we grew our email list by over 2000 subscribers. We added, I think about 350 or 400 new members to our Facebook group. And I actually didn't track. new followers to Instagram, but I remember there being a significant jump in our followers on Instagram as well.
[00:16:41] Danielle: So it's just like an overarching, really cool strategy to grow all of your platforms. It's kind of like all in one go. This is actually exactly what we teach in one of our programs that is coming up actually at the end of this month, our breakthrough growth accelerator program. So if you are actually curious about learning this [00:17:00] yourself, then you can register for a free workshop that we're having next week.
[00:17:04] Danielle: It is next Wednesday at 1 p. m. PST. You can join me. It's completely free. I'll literally go step by step. through the entire process of what we do. And if it feels like a good fit, you can join us for the breakthrough growth accelerator. It's going to be six weeks together. It's super intimate and it's a really great way for not only you to be able to gain credibility in your industry, but also grow your exposure, grow your email list.
[00:17:33] Danielle: Grow your revenue and your cashflow and also gain new clients. Like how cool is that? So if you want to join us for that workshop, I would love to see you there. And, uh, you can register by going to business babes collective. com and you'll see the button right there. It's completely free to do that. So again, that's happening next Wednesday, September 13th at 1 p.
[00:17:54] Danielle: m. By the way, if you're listening to this after the fact and you're like, Oh no, I missed it. Often we'll [00:18:00] have an opportunity for you to actually watch the replay. Obviously it's way better if you can be live because you can ask your questions and actually show up and hang out with me. How fun is that?
[00:18:10] Danielle: But if you have missed it, then definitely still grab the replay and the link will be in the show notes for you. So before we end off though, I wanted to just leave you with this critical mindset shift around creating more cash flow for your business because if you still feel like you have a block around making more money in your business, people who make more money than you are not more deserving than you.
[00:18:39] Danielle: They're just not afraid to ask for it. They're not afraid to go for it. So shift your perspective and take that shift. moment to just be brave. Step outside of your comfort zone. It might feel awkward at the beginning. It might, you might have fear around it, but the only reason you feel that way is because you were out of the [00:19:00] habit.
[00:19:00] Danielle: And so once you get comfortable, like once you actually Start taking action. It's going to feel more comfortable for you in asking for the sale and pitching yourself for opportunities and hosting virtual events, hosting in person events, adding VIP options, like all of those things that we talked about following up with clients.
[00:19:21] Danielle: clients, making offers, all the things that we talked about today are going to feel more comfortable the more you practice them. So don't just listen to this episode and think, Oh, wow, those are great tips. And then just forget about it. Like pick one of the things that I talked about today and actually take action on it.
[00:19:39] Danielle: And I can guarantee you, you are going to make more money. So I can't wait to hear your feedback. I would love to actually hear from you. So if you want to send me a DM, I'm over at dannylivinglife on Instagram. You can also find us at businessbabesco. That's really where we [00:20:00] share more of the business side of things or different things that are happening in the business.
[00:20:04] Danielle: Either way, send me a DM and let me know what you're working on. Let me know, um, how this episode has helped you make more money in your business. So thanks so much for listening to this episode of the business babes collected podcast. I'm so grateful for you. I hope you found these seven ideas. I can't wait to see you in the next episode.
[00:20:27] Danielle: And also don't forget to subscribe or follow this podcast wherever you are listening. It really helps us. Just honestly hit the follow button or hit the subscribe button. It helps us reach more people. And also if you could take just like two seconds to review the podcast, that would honestly mean so much.
[00:20:49] Danielle: So much to me. So send me your review, um, DM it to me. Let me know that you're listening. Let me know what you took away from this episode and what you're going to be [00:21:00] implementing. So, uh, yeah, keep, keep in touch. Uh, we have a lot of things happening, a lot of really exciting things happening behind the scenes, and we have some.
[00:21:09] Danielle: Super exciting episodes coming up very soon. So we have lots of interviews. We also have some solo episodes and some just update episodes. Cause there's a lot of shifts and changes that are happening within our business right now. And behind the scenes, really exciting things that I cannot. I can't honestly wait to share with you, but, um, until that time that I can share publicly, uh, subscribe to the podcast so that you don't miss out on the opportunity to hear what we're up to and what you can get involved with.
[00:21:43] Danielle: See you in the next episode and I hope you have an awesome rest of your day.
[00:21:51] Danielle: If you love this episode, make sure you screenshot post and tag us on Instagram at business babes. Co want to know when the next episode goes live, [00:22:00] subscribe on your podcast app. And while you're there, give us a review until next time, keep dreaming big setting goals and taking.