EPISODE 51 - DON’T KNOW WHAT YOUR PROFITABLE ACTION STEPS ARE? FIVE QUESTIONS TO HELP YOU FIND THE TASKS THAT WILL SCALE YOUR BUSINESS!
LISTEN TO THE EPISODE HERE:
Danielle talks often to entrepreneurs about the importance of focusing on their profitable action steps. But she realized recently that she hasn't done a podcast episode yet about actually explaining what profitable action steps even are and how to figure out what those steps are for you!
So she shares 5 questions to ask yourself to figure this out for you, as YOU and your own business is unique, you’ll also have unique action steps that YOU personally need to focus on depending on your business, the length of time you’ve been in business and what you are truly trying to create!
5 Questions to Ask Yourself to Help you Find the Tasks that will Scale your Business:
Question #1: What are you currently doing on a daily or weekly basis?
One of the most important (and eye-opening) things you can do - is taking inventory of your business activities. The best way to do this is to keep a notepad by your desk and write down each task you complete within the day. Once you have this list, I want you to separate them into 3 columns:
1st Column - the tasks that you think directly relate to sales or profit in your business. This could be pitching stores to carry your products, pitching a client, having a discovery call with a potential client, etc.
2nd Column - the tasks you think indirectly produce sales or profit in your business, ie - creating content, updating website etc.
3rd Column - write tasks that you know either: a) are not currently leading to sales/profit in your business or 2) things that you are unsure about. Some of these tasks might still be things you need to do (bookkeeping etc.) So circle those things - they are not your profitable action steps, but they are still mandatory - they go under Admin work.
Question #2: What action steps have led to sales in your business in the past?
These are tasks you’ve done previously in your business that lead to sales or gained new clients/customers that you may have gotten away from. Brainstorm and write down all of those things! It could be being a vendor at a tradeshow, going to a networking event and making new connections, asking for referrals from current clients, doing a creative marketing campaign.
Question #3: What are you doing in your business that is contributing to the long-term sustainability of your business?
Look at both short-term and long-term strategies - both are important to the growth of your business. Of course, it’s important to keep the cash flow going, so there will be some short-term strategies you’ll implement in order to gain clients and customers - this could look like your social media strategy, asking for referrals, pitching clients directly, etc. There are also long-term strategies that will help in the growth of your business long term. Examples of this are growing your email list, blogging, podcasting, video content (youtube), anything that contributes to your SEO, etc.
Question #4: How do your ideal customers/clients find you? What is the process they take to book your services and buy your products?
Where are your current customers/clients finding you? Your website? Google? Your Blog? Instagram? Through referrals? If you realize that 90% of your clients are finding you through google, yet you are spending 2 hours a day on Instagram, it’s time to re-strategize.
The second part of that question is what is the process your customers. and clients go through to purchase your product/service? If customers have to jump through 10 different hoops in order to complete a purchase, they’re more likely to go with a competitor instead. A Profitable Action Step, in this case, is to simplify the purchasing process for your potential customers/clients.
Question #5: How can you get in front of MORE of your ideal clients?
This one is a fun one - it has all to do with Collaborations - collaborate with a business that can introduce you to new clients and customers. Do a pop-up event together, an e-mail list swap where you highlight one another's business/, get your product or service featured in media outlets or popular blogs, getting featured as a guest on a podcast etc.
Our Top Business Resources to Support Female Entrepreneurs:
Get Access to our Free Masterclass “How to Scale a Profitable Business without working around the clock”
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