How to Generate More Revenue, Even if You Feel Stuck
There’s nothing worse than KNOWING you have something but you just can’t get over the “hump.”
I remember the early days of my first startup…
We had achieved a certain degree of success.
Definitely enough to indicate we should push forward.
But not enough to sustain myself AND the business.
And so the Side Hustles were still a MUST…
The long nights of racking my brain over what we could do began to become old.
And, more importantly, I started to lose the same fire for this “thing” I once had.
Entrepreneurs that stay in this phase too long end up flaming out and moving on.
Fortunately for us, I figured out the magic formula and we EXPLODED.
Over revenues went from $50k ARR to $500,000 in about 8 months.
No joke, it was a wild ride…
Especially for a kid at 25.
So, let’s break down how that happened and what you can do to get yourself out between this rock and a hard place.
Me in 2012 at a job fair hiring my first employees
Photo by Kim Jimenez
The first thing I had to do was take a step back and analyze.
And this is why it’s sooo utterly important to either keep your day job or have side hustles.
Because, as I always say, The Dream Dies When The Bank Dries.
You need to tap into Urgency but never into Desperation.
Once you’re desperate, it’s the beginning of the end.
You have NO means to continue forward and experiment with close to ZERO margin for error.
If this is currently you, it’s time to pick up some side hustles…
You can check out an entire episode we did on that when you’re done here.
Live your entire life with margins…
Best advice I could ever give to anyone, not just entrepreneurs.
So, take a step back and analyze a few things…
What’s worked in the Past?
What do your customers love about you?
Have you surveyed them to analyze what it is that made them choose you when there were other options?
And don’t just say we were cheaper…
If that’s the game you’re currently playing, you won’t be playing it long.
It’s NEVER, ever sustainable.
And if that’s your main value prop, you haven’t dug deep enough.
Once you understand your market, you’ll have a much better idea as to the marketing message you need to convey.
“Live your life with urgency, not desperation…”
And while you’re at it, where do these people hang out?
It’s 2019 so your answer should include somewhere on the internet.
As a startup, I’d ditch all traditional marketing immediately.
Radio and TV spots are not where you need to be when you can get Leads for less than 5 bucks on Social.
Let the Big Boys spend the money on Traditional “stuff…”
I want you to maximize your dollar, assuming you have a budget at all at this point.
But let’s talk about free & organic opportunities.
Once you know where your tribe is hanging out, start having meaningful convos with them.
I see people in Professional Services doing this all the time.
Joining Facebook Groups that are relevant to their space and having real convos with people that have questions.
They don’t go straight for the sale, they just deliver value.
This gives you the ability to understand them at a deeper level and start to develop a name for yourself.
Be respectful, it’s not your community so you need to play by their rules.
Often times, enough people are going to see the value you’re delivering and it’s going to start delivering new opportunities to you.
Now, I get that’s a lot of hustle work so let’s talk about so of my favorite ways to generate revenue…
As a startup entrepreneur, you don’t have the budget for radio and TV ads + there are far more cost-effective ways to market yourself in 2019.
Photo by Pixabay from Pexels
I’m currently 33 and I’ve already been involved with bootstrapping two multiple 7-Figure Businesses.
Only 2% of startups ever achieve the 7-Figure mark so I do consider myself very blessed.
But I have to tell you, it happened primarily for one reason…
Creating SEARCHABLE, value-driven content.
See, what your reading here is my way of developing traffic to my site.
That’s the equivalence of having someone walk into your physical store.
You may not know if right now but eventually I am going to try to sell you something.
You see my email opt-ins and “free” stuff I’m giving away in exchange for an email?
I can utilize that data to target you and people like you on social media.
And, further, once you join my email list you’re going to start receiving weekly updates from me…
Most of which are going to allude to stuff I’m selling.
Now, for many of you it’s even easier than that.
Because if you have a service-based business or a physical product, you can literally skip the email step and jump straight to consultation or sale of the item.
Sometimes it works that easily and other times you have to work for their business a little harder.
Either way, “foot traffic” gives you an opportunity whereas before you might have had the best service but nobody knows who in the hell you are.
I always say this (too) but having the best lemonade stand doesn’t matter if you set it up in your closet.
Creating Value-Driven Content on Searchable platform like a blog, a YouTube Channel or Pinterest means you’ve got a roaming sales message crawling the world, all the time.
I put out crazy amounts of rich content with my blog, YouTube and my podcast…
All of which you may currently follow.
And even at a small percentage, it creates more chances for me to sell.
Do that more than your competition IN ANY SPACE and you’ll see the needle move.
Just make sure you optimize it for search with Google Trends so you’re not creating content that only you can find.
That goes back to knowing who your audience is and what the heck they’re looking for/is important to them.
Next, I would say don’t be afraid to put yourself out there and start with rolling up your sleeves.
I’ve seen many people explode just by creating a local reputation first.
The power of the internet is fierce but sometimes you just need some experience and a portfolio under your belt.
Even with your content creation efforts, you can target locally to start just to get some early traction.
Networking events like BNI are wonderful places to start and build your book of business.
But let’s talk about mindset, my favorite subject in many ways…
Here’s the deal…
I’ve never seen anyone WIN at entrepreneurship that wasn’t obsessed.
I’ve never seen someone with one foot in scale a company.
You’ve got to want this more than you’ve ever wanted anything.
And if you’re stuck it might be because you’re just not in love with what you’re doing or how you’re doing it.
When I’m ONTO something and it aligns with the impact I want to make in the world, I legit can’t put it down.
I tap into my inner crack head (kidding) and literally lose sleep over it.
When I discovered the power of content, I obsessed over learning SEO and pouring out my entire brain into blogs, three times per week.
I’ve created over 200 (and counting) podcast episodes.
And now my new obsession is Facebook Ads direct to purchase…
But you can have the X’s and O’s but still fail.
Without an insatiable desire to win and win big, you’re just fooling yourself.
LEAVE YOUR JOB TO START YOUR BUSINESS FULL-TIME!
Learn how to successfully leave your 9 to 5 and never look back...