If you’d like to double your business income in 2017, and still work less hours then you’ll want to keep reading. I’m going to reveal exactly the process you need to follow in order to do this!
A good place to start is to review your year in business in 2016. What went well, what didn’t go so well for each key area of your business. You’ll find that even if things didn’t go as well as you’d have liked, you’ll gain golden nuggets of insights that will enable you to make your 2017 your best year yet.
Once you have completed this you are ready to get started with my 6 step process to planning out how you will double your income and work less hours in 2017:
Step 1: Identify Your Business Goals for 2017
You might like to ask yourself the following questions to help you with this:
- What turnover would you like to make in 2017? (make sure you set an ambitious goal)
- How much personal income would you like to make from your business in 2017?
- What is the impact you would like to make with your business in 2017?
- How many clients would you like to work with in 2017?
- What existing and new products/services would you like to offer in 2017?
- What marketing goals do you have?
- What training goals do you have?
- Is there anything else you would like to achieve in your business?
Step 2: Identify Your Personal Goals for 2017
Ask yourself what social, family, health and wellbeing, further learning and training, and hobby orientated goals you have. Write these down on paper so you can get clear about what they are.
Step 3: Check Your Business Goals Are Compatible With Your Personal Goals
You want to make sure your personal goals are compatible with your business goals. If there is a conflict between your personal and business goals, then you will want to decide which goal is the priority so you can be clear about which goals are most important to you to achieve.
Step 4: Read Through The Following Income Raising Strategies
Here are my 5 income raising strategies that you can use to increase your turnover in 2017:
- Raise Your Prices
- Create an Irresistible Package for Your Services
- Move from a one to one model to a one to many model (so if you are offering coaching, instead of offering individual coaching programmes, offer a group coaching programme).
- Leverage your expertise into a passive income (an example of this could be an online course that doesn’t require your time)
- Align Your Gifts with Your Niche – this means focusing on your zones of genius and creating services/ products that enable you to do the work you are gifted at doing. This will lead you to doing your best work, have more clients desiring to work with you and being able to charge what you desire.
Step 5: Decide which Income Raising Strategies are best for your business in 2017
You might find it useful to see which of the following problems you are struggling with in your business as this will help you decide on the right income raising strategy for you.
…are not making enough income from your work use strategies 1, 2 and 5
…have hit your income ceiling use strategies 3, 4
…have stable cash flow but don’t have enough time use strategy 4
…aren’t getting enough clients who can afford to pay you use strategy 5
Ultimately what works best is a combination of the income raising strategies used during the year to help you solve all these problems that can crop up as you grow your business.
Step 6: Plan out your monthly client/ income goals and you will achieve them
It is essential to have a monthly forecast for 2017 to plan out how many clients you need to generate the turnover you desire and what you will do each month to generate the clients, sales and income you want so you can reach your turnover goal for the year.
So, what you need to do now is create a table with columns for the months in 2017, the income raising strategy you will implement, your client goals, your sales goals and what you will do to reach your goals.
Then you can fill in the relevant information into the cells for each month under each column. This way you will quickly know if you are on track or not and be able to course correct to ensure you reach your goals.
Think of it this way, even if you don’t reach your goals but you make 75% of what you intended, you will still be a lot further ahead than if you didn’t have a plan in the first place!
Best of luck – here’s to your success in 2017!
Read also: Let’s talk money and your business