The Fierce Business Babe Podcast Ep 274: Quick Cash Injections For Your Business
Today, I am diving into how to create your biggest cash month yet. We are going to chat about what quick cash flow looks like and how to sell it to your audience. I will also be giving you some tips about offers to sell to make quick cash injections in your own business.
QUICK CASH INJECTIONS FOR YOUR BUSINESS
By: Melissa Lin
Welcome back to another episode of The Fierce Business Babe Podcast. Happy December! We are at the start of the month and so much is possible for you this month!. Christmas is right around the corner and then the new year. It's such a fun and exciting time. I know as we get closer to the end of the month some may get fearful and worried that they won’t be able to bring in the cash flow they want for the month into their business. I want to chat about that today, specifically how to create some quick cash injections for your business this month because we are wrapping up the year. This really gets to be your biggest month yet in your business. I'm going to give you some strategies today on how you can create some quick cash injections for your business, what that looks like, how to sell that to your audience, and so much more. We are also going to touch on how to be available for more cash flow in your business. I know that when I first started my business back in 2014, I was telling myself the story that for me to grow my business I first needed to hit a $5K month, then a $6K month, then a $7K month and so on. What I absolutely love about our industry and the online space is that there are no rules whatsoever. This is your business and it's so cool because there is literally no income cap for you and your business. You can bring in as much as you want and as much as you're available for in your business.
Mindset Shifts
First let's get into mindset shifts for quick cash injections. It might sound silly, but no matter how much income is coming into your business, there is always some type of money mindset around it. Usually to bring more sales into your business you get to serve more people and sell more items. Today we're going to talk about a few different strategies that you can implement into your business to do this, but before we do we’re going to talk about the mindset side of being available for more money.
A few years ago I was consistently stuck at the same monthly income in my business. Part of it was strategy, yes, but a bigger part of it was my mindset and some of the fears that I held around it. I had fears about bringing in more money and holding space for more people. What would happen if I made more money? What would that look like? Would I be able to handle it? Would I know how to be smart with it? If I continued to scale my business will my audience feel disconnected from me? Will I be able to hold space for more clients? Am I available for more money? These are all things that came up for me and maybe you can relate to some of these. These were a few of the real fears I had that held me back for quite some time.
If you're feeling any fears around bringing more money into your business or anything that goes with it, I want you to tap into that. What are some of the fears? How were those stories serving you in the past? For example, maybe your past stories served you because they made you feel safe by not being too big. You felt safe, so that was serving you back then. How are those stories no longer serving? For example, it's no longer serving you because it’s keeping you and your business small. If growing is what you're wanting, if you're wanting more cash flow in your business, then the story of being afraid of being too big is not serving you. That story is keeping you small. Tap into your fears, explore them, and let's start to release them. My question for you is who do you need to be to hold more space for more clients? Who do you need to be for more business? Who do you need to step into to be available for that cash flow? What do you need to do to be available to serve at that new level? Feel free to jot that down. Journal through some of that and really start to tap into your feelings around it. Until we can really tap into that and figure out what your stories are, you’re not going to be able to really have that quantum leap in your business. Mindset is so key, it really needs to be explored before strategies. Strategies aren't necessarily going to work unless mindset has been worked on. You can easily self-sabotage every single strategy you put into place because of a money story that you have. So tap into that and utilize some of those journal prompts that I shared with you.
Easy Cash Injection Offers
Now that we spent a few minutes chatting about the mindset around cash injections, let's talk about some offers that make easy cash injections for your business. What I love about the online space is that shifts can happen so quickly. The moment you decide to shift it can happen. A sales transaction takes seconds. Even though we're almost halfway through December at the moment, you still have time to hit your goals this week. I have had $50K sales weeks before. We still have over two weeks left this month, so much can still shift this month for you.
Let's get into some tips and tricks for some cash flow and sales for you this week. First, let me share what I mean by a quick cash injection. Let's say you're running a business. You most likely have one or two core offers and maybe a few signature offers in your business that you sell throughout the year. A quick cash injection is something that we can add into your business or something that we can sell to bring in some quick cash without necessarily creating an entirely new program in your business. This will vary from business-to-business, however, I'm going to give you quite a few different ideas so that hopefully you can utilize one of these for your business model that you have. If you would like some one-on-one support with this, send me a message on Instagram. This is exactly what we support our clients with. We meet our clients where they're at and help them start and scale their business.
What I recommend Is selling something that you already have or something that doesn't require you to create an entirely new program or product. If you're able to create a new program that doesn't necessarily require deliverables, amazing, and I’ll get into some examples of what that can look like. What can you sell that you already have that would be very easy for you to distribute to your audience? An example is a PDF download or digital download. This could be a template that you give your clients. We have so many different templates of services that we provide our clients. For example, we provide our clients with lead tracker templates and templates for tracking your income and expenses in your business. We also have sales call scripts and DM scripts for our clients. We have different templates inside of Airtable to help our clients organize all of their content. We have so many different resources for our clients because these things are required for you to grow and scale your business. I love providing my clients with these things because they are such a game-changer. So take one or two templates from one of your programs and sell that to your audience. Sell something that you already have, maybe a mini course or a workshop. Maybe you have a course that's been sitting in your vault that you haven't sold in a while. Take that course out for a flash-sale. Let your audience know it's available for purchase. People cannot buy from us if they don't know what's available to buy, so we get to let them know. You could sell a coaching program you have, one-on-one spots, some type of short-term Voxer coaching package.
You could also create some “client upgrades” or add-ons for current clients. For example, let’s say that somebody joined your group program, you can give them the option to add on a few 1:1 calls at an ala carte price or add private Voxer support on top of the group program for even more support. A client upgrade could look like giving them the option to extend the time in the program at a certain price (locking in the 2023 rates) instead of resigning at increased 2024 rates.
We did this recently for our clients during Black Friday: we had a few special, client only black friday deals that only they received: various upgrade options, first dibs at new programs at a client discounted rate, and more!
I recommend not creating something brand-new that requires a ton of your energy. If you were going to create a brand-new signature program with tons of new video modules, new worksheets, and things like that, I wouldn't necessarily recommend that for a quick cash injection. If you're pre selling it for 2024 spots and you're not necessarily needing to create it right now, then amazing, go for it. If you're wanting a quick cash injection I would recommend creating something that doesn't necessarily require a ton of deliverables to be created quickly. That may be a Voxer coaching package or group Voxer package where you're supporting the clients or a group of clients from point A to point B. Again, it really depends on what your plans are for the holidays and if you're going to be taking time off. It depends on what you're wanting to create for yourself this month.
Since we're getting into the holidays, something you can do is pre-sell into 2024. If you're not wanting to start a brand new one-on-one client during the holidays, but you do in early 2024, you can start selling those spots now. You don't necessarily need to start them in the month of December, their start date can be in January. You can start selling quarter one spots into any of your programs at an early presale price. If you're like me, I am increasing prices. We do a company-wide price increase annually, so we're increasing prices for all of my programs at the end of the year. If there's anyone who wants to hop into our program and push their start date out to January, we let them lock in current prices if they enroll now and pay now to lock in that price before the price jump. This can be for any of your group programs, your masterminds, or even one-on-one private mentorship. Presell those spots and have your clients pay now to lock in current prices.
You can package some of your workshops or master classes you've held this year into a bundle to sell. Again, bundle things out that you already have; utilize the things that you already have in your business. You have created so many incredible assets in your business, so sell them. You're also allowed to sell more than one offer at a time. Fortune is always in the follow-up, so make sure that you are following up. If you're sending a payment link out, follow up and see if there's any questions. Are you handling objections or are you tiptoeing around the sale? If you’re beating around the bush and not actually selling or following up, what are you fearful of? That gets to be tapped into and we get to work on that. Again, strategies will not work if your mindset isn't serving you.
Upselling Your Offers
Something that I love about these quick cash injection offers is that they're also very easy to upsell from. For example, I currently have a few bundles available that are self-paced courses. They are mini bundles that have anywhere from seven to ten hours of material inside. One of them is called My Fierce Business Bundle and it's a beginner bundle for anyone wanting to start their business. There are over ten video trainings inside about how to map out your niche and your first offer. There are also some templates, like a lead tracker template, and some other things to get your business started. It’s self-paced, previously recorded material. There's no coaching included, so the next step would be to upgrade into my Fierce Business Academy. The Academy includes more than ten times as much material, templates and sales scripts for your business, weekly live calls, and daily feedback and support from myself and my team. We even assign our clients a private accountability coach inside of the program. All of that is absolutely priceless between the accountability inside of the program and being able to have a 7-figure business owner right there in a community container to ask questions and have look over your business and all of your materials. I wish I had that when I first started. Being able to message someone who's been through it and can help you find the answer to something within minutes versus you spending weeks trying to figure it out on your own is incredible.
So that's one example, let me share one more example with you. I also have a bundle called The Breakthrough Business Bundle that actually came out earlier this year. This is designed to help you break through into your next level. It is full of things that I wish I had in my back pocket when I moved from beginner to intermediate business owner. There's tons of pre-recorded, self-paced trainings inside. It covers topics like how to expand your product suite and upsell more offers, how to run a group coaching program, how to handle late payments, and how to hire your first team member. It also covers all of the systems that I use in my business and how we use them, there are even templates for you as well. Once a client hops into that the next natural step would be to hop into my Six-Figure Mastermind with ten times as much material. My Mastermind has hands on support, private calls, group calls, daily access to me, and more.
The point of all of this is that these quick cash injections you create for your business give you a great opportunity to upsell into a higher-level program that you have in your business or a more hands-on support program at a higher ticket price. Maybe your quick cash injection offer is a one-on-one spot with a new client, then there probably isn't really a next level after that besides re-signing and upgrading as you continue to create those newer offers. It is very easy to upsell with these quick cash injections.
How to Sell to Your Audience
Now I want to chat about how to actually sell them to your audience. The biggest thing here is to keep it simple. Don't overcomplicate, keep it simple. You don't need a sales page for every quick cash injection offer that you create. We don't have sales pages for any of our quick cash injection offers, just payment links. The tools that are really needed are a payment system to receive payment from your client and a way to deliver the content to your client. That's it, keep it simple. All of that can be handled via the payment system and then an email to your client.
As you're starting to share these new offers with your audience, make sure to share them. Let your audience know what's available to purchase. You can do this with Instagram stories. You can do this with captions or emails. I tend to sell more in my Instagram stories, that's where my audience converts higher. Most who watch my stories purchase from me. The same is true for my podcast. There's so much nurturing that happens on my podcast and so much value here for anyone that listens to the podcast. It really depends on where your higher converting forms of content are. For a lot of people it's going to be Instagram stories, so I would start there. Go take a peek at my Instagram. Sometime this week we're going to talk about what our secret menu item is for the week or for the month and you can see how we do this. We share what the offer is, how many spots are available, the price points, and how to get more details or get the link to purchase.
We recently had some Voxer coaching packages and I asked anyone who wanted more details to send me a DM. Again, keep it super simple, you don't even need a sales page. You can create a few graphics on Canva or even in the Instagram app if you want to and just let your audience know what's available for them to purchase. If you go and take a look at my Instagram I have the ways to work with me for the month pinned to the top. It’s important to create different forms of content for your audience because it’s creating multiple permission slips for them. Some will be watching your stories, while others are going to take a look at your feed instead. We want to create a few different permission slips for your audience and ways for them to learn about what you have to offer and how to take that next step.
We covered so much today in terms of how to bring in some more quick cash injections into your business. We've touched on mindset shifts for more cash flow, offers that make easy cash injections for your business, how to sell quick offers to your audience, and so much more. I would also say to create some type of urgency. This could be a certain number of spots available or a time frame before the price point is going to go up or when the doors are going to close. Create some type of urgency so that your audience knows when they need to take action. Get out there and have fun selling your offers today. If you have not sold anything in your business today, this is your reminder to go and sell something. People cannot buy from you if they don't know what you have to offer, so go sell something. Go make some money and serve some people. We are already getting ready for next week’s episode. I will see you in another brand new episode of The Fierce Business Babe Podcast bright and early next Monday morning!
Times to check out:
(06:51) My business journey
(10:36) Foundations for starting a business
(17:28) Mindset for that next step
(24:10) Tools to use in your business
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