If the following short story applies to your internet business in any way shape or form (allow your mind to expand these thoughts)…you need to fix your mentality right away.
I mean it. Right now.
Here’s the story of one of my clients (name removed of course)…
As I do with all of my clients, I look for immediately accessible marketing assets first to generate increased profits.
All online businesses (or offline businesses that use the Internet to market) have these “hidden assets” in some form or another, even those that are just starting out.
This particular client has a business generating six figures a month or more, so the type of assets I look for (past the easy ones most screw up like proper use of the customers buyers list and serving / following up with customers) center around modular assets a business can add quickly that will easily generate profits through leveraging what the business already has working for them.
In this particular example, I suggested adding a staffed call center with highly-qualified salespeople (not too many at first, but a few, then grow from there).
The client immediately replied “Joe, that sounds expensive.”
Sheesh and <sigh>.
I always thought from the beginning of my marketing coaching and copywriting career that people liked the idea of growing their businesses…in this case, I was wondering for a second.
But back to my client…
I simply suggested… “You sell enough different products, produce over six figures a month, so raise your prices, and make the call center happen.”
The client initially objected…but made it happen…raised prices a little on a number of products, then staffed a call center, and finally grew the online portion of their business exponentially
(this is the part I specialize in helping to grow with my clients).
The moral of this post is…
When you get shown how to add substantial income or whatever to your business that you’ve been seeking…quit trying to figure out how not to make it happen, and start focusing on how you can make it happen. The answer is usually quite simple…like raising prices for example.
The second lesson here has to do with pricing in your business…
I’m making an educated guess that over 80% of all small businesses are under-selling themselves…and under-pricing themselves as a result.
So just raise your frickin’ prices.
If you try to build your business around price alone, I guarantee your competition (and the market you serve) will be able to easily make sure your price goes down on that battlefield.
So play on a different battlefield people.
More on how to deal with “price” in another post. Until then, just raise your price(s) by 5% today, right now in fact, without another thought, it’s pure profit.
Until the next time we look in the mirror together,