You can easily double your monthly revenue with a few small upgrades.
There is an entrepreneur I know who's currently at $20,000 a month and wants to get to $40,000 a month and in my opinion is making some mistakes right now that are very fixable, that are very avoidable mistakes that you could probably fix in your business as well. So let me share my screen and we'll dive right in. And if you're watching this, just give me a thumbs up so I know you are here.
Okay. So here is what's going on. So right now she's at $20,000 a month. Not bad for an online business. You're making $20,000 a month. That means you're probably pretty good at selling or somewhat good at selling. You know how to sell, you know how to present your offer, you know how to get people to say yes. But the goal here is typically the person wants to start doubling their revenue. So how do you actually double your revenue? So that's the situation, $20,000 a month, goal is $40,000 a month. Now, here are some immediate problems that I think need to be addressed right away. So first problem that this person has, and maybe you have as well, is there is no high ticket offer. There's no high ticket offer. It's very hard to get to really high 30,000, 40, 60, 70,000 dollars a month if you're just selling low ticket offers. High ticket in my world, I'll say, means anything above $5,000. So you have to have an offer over $5,000, minimum. I would even recommend down here, I think you should have at least a $30,000 offer. And that way you're able to hit those numbers a lot sooner.
Do you Have an Offer Over $30,000? If not...
So that's the first problem right now is that there's no high ticket offer. The next problem is that this person is not really clear on their niche. So they know how to sell their program, they know how to sell their product, but they're saying yes to every single person comes to every single person who inquires into their business. And I used to make that mistake a lot because I was newer in business. I wanted to say yes to everything. I wanted financial validation. Sometimes you just want to get paid to prove that you're good at what you do and you know how to make money. But not having a niche is only going to hurt you. Now, here's the third mistake she's making. She's got this value ladder. A concept of a value ladder is essentially that as people... Actually, let me just draw out a value ladder for you. So here's what a value ladder looks like. So think of a ladder that looks like this. Essentially this is the investment. How much somebody wants to spend with you goes up. And this is the perceived value of your offer. So some people might have a value ladder where they have got something free down here.
Then you buy the free thing, then maybe you buy their $7 book, and then after the book, maybe you join their 297 workshop. Then after that, maybe you join their 997 program. And then all the way up top here at the top is the high ticket offer. I'll just say high ticket offer. And that's what a typical value ladder looks like. It's like the more you go up the ladder, the more someone spends with you. The problem is that it takes people so many steps to get to that high ticket offer. So the mistake here is that she's currently leveraging a value ladder, which I think is a very avoidable level to help double your revenue. The next thing is that she's essentially trading time for money. So she's just offering a one on one program right now which requires a lot of her personal time. And that means she's not able to grow because when she's selling, she can't fulfil and when she's fulfilling, she can't sell. Then the last thing is that even though she's at $20,000 a month, which is a great number, her confidence, her sales confidence is still low. She could improve her sales confidence.
So what are some immediate fixes here? Well, the solution. Number one, you want to make sure you have a high ticket offer. So create something. Imagine, what's the best thing you can offer someone? And how can you price it at, let's say, $30,000 where it's still a no brainer to the person who's buying. The next thing you can do is sales objections. How equipped are you to handle sales objections? When someone tells you it's too expensive, let me talk to my partner. I don't know if this is going to work. Do you know what to say? Or are you unsure and you freak out and you lose the sale? Next thing you can do is create a one to many offer. A one to many offer could be a retreat. That's like you're selling the one thing, which is your program, but too many people at a retreat or on a webinar.
That is a one too many. The next thing, the quickest way to scale is actually cut down on the number of offers you have. I recommend having two offers, just two offers that you know convert really well, which you can double down and focus on one niche, right?
How to Get to $40,000/mo
One target market to get you to that $40,000 a month. Now, there's another big problem that I forgot to mention that she's making right now. And sometimes I hate to say it's ego, or I hate to say it's maybe this is just how we've been taught to grow a business. Let me just clear this up so you can see what I'm about to write down. So the other mistake she's making here is that I believe that she has too many team members. When you're making $20,000 a month, I really don't think you need to have a big team. I think $20,000 a month or $40,000 a month even can be made with zero people, meaning just you on your team, or maybe one other person on your team is all that's needed to get to $40,000 a month. Anything more is ego, in my opinion. Anything more is just a waste of resources that could be better used on your business, and it's just not really worth it. So the solution here is, again, do you have a high ticket offer? How comfortable do you feel handling sales objections? Do you have a one to many offer?
Do you have one niche figured out? And do you have two offers that you can confidently sell? And again, this is just the value ladder down here. But if you need some help figuring out, Hey, I'm definitely stuck here. The next steps, of course, are always very simple.
