How To Make Your Business PROFITABLE (so you have more time for PLEASURE & PLAY!)
The video viewed here “How To Make Your Business PROFITABLE (so you have more time for PLEASURE & PLAY!)” is sponsored by DJs4Hire.com – the top hub for discjockeys to be discovered, find resources, get assistance, improve at the trade and much more. The DJs4Hire.com group have picked this video as a good source of knowledge in your adventure to becoming a highly demanded DJ.
Join DJs4Hire.com NOW ! ! !
If you’ve ever found yourself working harder and harder but wondering why your bank account doesn’t seem to match your effort, you’re not alone.
One of the most common questions I get asked by business owners, entrepreneurs, course creators, and coaches is:
“How do I make my business more profitable (and not hate my business whilst trying to do it)?”
Profitability isn’t just about making more sales.
It’s about:
keeping more of what you make,
systemising your operations,
and scaling with AI, tech and automation.
.
** Here are 20 (of many) ways that you can make your business more profitable (and your life more enjoyable at the same time) **:
Know Your Numbers
You can’t grow what you don’t measure.
And the MOST important numbers to know first are:
What’s your annual revenue goal?
How many of your product/service do you have to sell, to hit that revenue number?
If you only sell at a 1% conversion rate in your public marketing, how many people do you need to GET IN FRONT OF, to actually make that number of sales?
Most busines owners have NO IDEA what these number sare when I ask them – and then they wonder why thy’re not hitting their revenue goals.
I have a free calculator that can help you work that out – just let me know if you want it.
NEXT:
Have a Google sheet that tracks your:
Revenue
Expenses
Profit
Customer Acquisition Cost (CAC)
Customer Lifetime Value (LTV)
How many people your marketing touched this month
How many ‘units’ of your product/service you sold that month
MRR (monthly recurring revenue)
Number of unique subscribers or buyers
When you know these numbers, you’ll have data that can chnage everything
.
.
Increase Your Prices
Most entrepreneurs undercharge. If you haven’t raised your prices in the last 12 months, you’re overdue, because interest rates are up.
Position your offers based on value and how much time you’re saving them, not hours or hourly rates (if you want more profit).
I suggest keeping your pricing the same for existing customers, and increasing now, today for all NEW buyers.
This rewards loyalty, AND increase profitability going forwards.
Create a tiered pricing structure with “good, better, best” options.
Do a big marketing campaign to let the world know that your prices are about to increase and share that they have a set period of time or deadline to get in on the ‘old’ price before it goes up.
This will drive a little surge in buyers now.
.
.
Stop Selling Time, Start Selling Assets
If your business relies on you working 1:1, you’ll always hit a ceiling.
There’s only so much any one person can do.
Package your knowledge into online courses, group programs, memberships, mini SaaS, bots or digital products that allow you serve UNLIMITED people at once.
Unlimited people, means unlimited income – AND less time working your butt off.
.
.
Audit Your Expenses
Every dollar saved is a dollar of profit.
Cancel unused subscriptions.
Double-down on using the subscriptions that can make you money and serve more people through assets and automation (like Tekmatix).
Consolidate your tech stack (Tekmatix replaces websites, funnels, email platforms, calendars, and more in one place), so you’re not paying for multiple different softwares.
.
.
Build a Sales Funnel
If you don’t have a funnel, you are limiting your ability to sell at scale.
A funnel is simply a step-by-step journey that turns strangers into clients, without you having to be involved in the process.
Start with a free lead magnet.
Have a second page that upsells a low priced offer.
Have a third page that upsells a higher ticket offer.
Follow up with automated emails for those who don’t buy the upsells.
Turn on the abandoned cart automation to auto-recover your lost sales.
You can do ALL of this in tekmatix with our ready-made-for-you funnels and automations.
.
.
Automate Repetitive Tasks
Manual tasks are silent profit killers.
Every business owner should be automating these things at MINIMUM:
Lead magnet delivery and follow up
Product and service fulfilment and follow up
Student check in and reminders for courses, coachign programs and memberships
Reminders for ‘your next apppointment is due’ for service providers
appointment bookings, reminders and follow-up emails,
invoice sending and follow ups
Contracts and agreements signing and sending
project management and client onboarding
social media scheduling and posting
newsletter creation and mailing out with CTAs
Monthly reminders of your upcoming events
…. ans much more.
I do ALL of this in Tekmatix.
.
.
Focus on Retention, Not Just Acquisition
Getting a new customer costs more than keeping one you’ve already got.
Deliver outstanding customer service that makes people stay longer and refer you.
Create affiliate programs to reward the people who refer you.
KEYWORDS
#dj #futuredj #originals #flirt #underground #avicii #serato #numark #DDJ