Have you ever had that urgency where you’ve got to make an extra $500, $1000 or even $10000?
You may think:
You tell yourself, “It’s impossible to do it QUICKLY? I don’t know I will raise that kind of money.”
You still can feel these negatives around it, and you can still struggle.
Why is this an issue for most people
I’ve seen people struggle. This came up very recently with a client of mine. I also have had clients in the past, people I’ve met in my masterminds, and even people who’ve come up to me after different events I was speaking at.
It's so easy to get overwhelmed, to think how could I possibly make $500 or $2000 in like 10 working days, five working days, whatever it may be.
This was my situation about 4 years ago, at a time when I really wanted to hire this high-level coach. I was upping my game, but I'd never put out over $10,000 for a coach before. At just over $13K US and then it was over $17k to work with this coach. I really wanted to do, it would be worth very penny. It was a great investment for my business. The solution I’m going to give you came from that moment.
When you feel overwhelmed, you're not going to be able to get focused at all. You're not going to be able to go for it. Overwhelm puts you in that fight or flight. That stressed place. Creativity is gone. Focus is gone. The fog comes in… so do two culprits:
What do you do? Oftentimes, nothing. Otherwise, you're procrastinating, right?
The issue is, you're not coming up with a plan. When you are running a business, you need to have a plan. You need to have a system and a process that you go through.
The System and Process I would use
The system and process I’m giving you now may seem super basic, but it works. This is like the tip of the iceberg. I'm not going super deep into it, just give you an overview of this concept so that you can go and apply it.
I want you to be able to be thinking about, “How do I put this together?” Not “This is hard, I can’t.”
FIRST STEP: Break it down
Ask yourself: “In my business, what is the fastest way to cash?” “What is the fastest way I can get a customer, a client, a patient, or a company to purchase something from me?”
The following are examples of actions you can do that can be fastest to cash:
However, there are actions that may NOT be the fastest way to cash. For example, starting a podcast or writing a book.
Doing these things that have a longer game to them that take a longer nurture sequence is not fastest to cash. That is a nurturing process that happens over time that will eventually bring in some cash flow for you.
So how do you do it? Find what is fastest to cash for you, think of some of those ideas. You really want to be breaking it down into how you're going to get this money earned.
Let's look at this example.
If you needed $10,000, what you could do is sell 10,000 units or products at $1 apiece. Now, is that really good for your time? Probably not. It takes a heck of a long time to sell 10,000 products to 10,000 different people, right? You probably need 10,000 clients or at least 5000 clients where everyone buys two.
Let's break it down in another way.
Could you sell 1000 products at $10 apiece? It could be a workbook, a mug, or a smaller product that you would sell. Now you need 1000 customers to buy a $10 product.
Let’s break it down into another option.
You could choose a $100 product to sell to 100 people. Are we starting to see how this is a little bit more doable? Could you potentially sell to 100 people in two weeks? Yeah, you totally could. Selling to 10,000 people a $1 item that's a little bit harder. It depends on what your reach is.
If you have a really good reach or your item would be something your client could buy lots of, like a pen, then a dollar item could be a good idea. You have to see what your product is and how you would sell it.
Let's go to the next level.
Could you take a $1,000 product and sell 10 of them? You totally could. That would make sense.
Let's go to a higher level.
How about an even easier option? Do you have a $10,000 product that you would only need to sell one of them? You only have to sell one! Could you find one buyer in 10 days to buy a $10,000 product? Now depending on what you do, you really have to look at this and think:
Client’s $4000 sales
I did this recently with a client. She needed to make $4000 in sales. I asked her, “Do you want to be selling the $4 product or do you want to be selling the $40 product?”
Do you see the difference? Think of how many fewer customers she has to find. That $40 product helped her feel, “This is doable. The fastest to cash option for me is to put a bundle together of $40 for 100 people to buy in the two-week period to get $4000 in sales.” That made so much more sense for a $4 product.
Or how about this one? How about 40 people spend $200? That's probably a little bit more easier depending on your product. That would have been another option for her.
SECOND STEP: Choose how do you want to do it
You break it down, and you figure out how you want to do it. For example, if I'm selling x amount of products, then how do I want to sell them?
Figure out the avenue. Don't pick too many because you want to be able to actually get it done.
If you don't know anything about the option (ex. Facebook ads), it’s not the best choice. Unless you have someone in your network you can easily pay to bang that out and get it going.
This is the thing that I see people screwing up on all the time. You've made this commitment, “I want to make $1k, $4K whatever it may be.
Then you start doing other stuff. You're like:
Cut everything else out. You have one goal. Now, this is not how you're going to be every second of every day, but if you have an immediate need for $, everything else needs to go to the wayside.
Let me go back to my example.
It was December where I've got birthdays for both my kids, I have two other family birthdays and Christmas.
So this is what else happened that one specific December. I go to an event, and I buy a $17k+ coaching package (Worth every single penny. I totally beIieve that.) But I'm like, “Man, I don't want to get a credit card bill that is going to be probably 20 grand because I have other business expenses and many gifts on it.”
And I'm doing the full pay option because I'm all in and I'm getting this done rather than the payment plan. That's just the way I like to do it. I like to save money by doing it all at once. I thought, “I have to pay for this ASAP. I'm not pulling from my savings and not pulling from a bank account. I got to pay for this from what I've made.”
In that moment, I was like, “Okay, in 10 days, I'm going to run an event. Get as many people in there as possible, and I'm going to offer them something.” I thought, “Am I going to offer an $8,000 program to a big room?” No, that I haven't had time to build up that relationship with them.
“Am I going to sell 100 $200 products?” I could but I don't have 100 people in the room so that's not going to happen. Instead what I did is I thought I need about 12 people to buy about a $1500 product so that I can pay this off right away.
Now, as I was going into it, I thought, “No, instead I'm going to change this. I'm going to make it $1,000 and I'm going to sell like 17 of them.”
At the end of the day, I sold 18. I actually made money. Now, obviously, I still have to put my time into delivering the product. I still have expenses in delivering that product. However, my credit card bill was covered. That investment in that coach was covered.
What did I do? I used the steps, what is fastest to cash? Fastest to cash for me is a coaching package. Then, I'm going to break it down. How do I want to do it? I'm going to do a $1,000 product and have 17 people buy.
Then, how do I want to do it? I'm going to fill a room with people and hold an event. I had 74 people register in those 10 days. I had 63 show up, which is really high show up rate. Of that, I had 18 purchases. Perfect, right?
What did I do? I had to cut everything else out. Why? Because I had a bill to pay. Why? Because I had an event to run. Why? Because I had to prepare my offer. I had to prepare my package. I had to prepare my content. I had to market to get everyone there. I had to be on point for when I was showing up there. I had one opportunity to sell.
Now granted, yes, I would have many more opportunities after to nurture and follow up. But I wanted it done that day. I didn't want that on my mind.
In your mind, do you feel it is too much stress to have it all on one event, one home party, one online cooking class, one webinar, one masterclass, one training? Is that too much pressure for you? Then pull it back.
Give yourself that time and space. You could:
You have to be laser-focused when you want to achieve a financial goal in a short amount of time. It is doable. To make money in a short amount of time you must believe that it is doable, and you have to focus on it. You have to get into action. Getting into action is going to build the confidence that you need to actually pull it off. And choose that breakdown of how many products for how much money. Something that is doable for you potentially or a bit of a stretch, but make sure that it's the doable one.
What I love doing that with my clients is:
Now you may not look at me or think of me as a sales and marketing coach. I'm not saying I specialize in it. I will never say that, but I'm a business coach who can do strategy. Why? Because that's what I do in my own business and as you can see I can do it well.
If you want to have one of these “Fastest to Cash Strategy Sessions” with me where we figure out how you can get the fastest to cash in a short amount of time, then go to https://bit.ly/FastestToCashSession. By the end you’ll have the clarity on the right approach, the confidence in the strategy and the plan to actually go for it, so you can get great results.
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