There is a simple way to exponentially grow your business and generate multiple new revenue streams almost instantly just by changing the way you view your business, blog, service, or whatever it is you are doing to generate revenue.
These are techniques that I do use myself. And once you read how simple this is, you may be astounded that you haven’t thought of this before – I myself didn’t even realize this for quite some time after I went into business for myself. Once I understood this concept, everything changed.
You must first ask yourself these 2 questions:
- Where else are my clients spending money that is closely related to the services I offer?
- When my clients spend money with me, what are they REALLY trying to achieve?
Here are some examples of real people who are selling themselves short on generating additional revenue very easily:
- If you are a speaker or event planner (for example, you have organized a bloggers conference) just about everyone who attends will have to make travel arrangements to get to the conference.
- If you are a web designer, your clients will need content (from my experience, it is a royal pain to get 95% clients to produce the content themselves)
- If you do SEO for high-end clients, your clients may be using a traditional advertising or ad agency to handle offline marketing or would be interested in doing so.
If You are Referring Your Clients to Services Outside of Your Perceived Service Offering, You are Giving Away Money
When I first started in business for myself, I realized that I was telling every single client to go get web hosting. Not only was I telling them how to get it, I was telling them where to get it and then setting up for them and oftentimes purchasing it for them.
At one point I realized – this is stupid – if I’m referring all of this business, I need to make a profit from it! As a result, I became a hosting reseller and earned a profit off of every single person that I set up with hosting. That was 2 years ago and I still continue to make money every single month from the clients that I set up with hosting back then.
There are countless ways to re-brand products and services and sell them as your own, allowing you to keep a cut of the profit rather than just passing it off to someone else.
This doesn’t have to be done with an established affiliate program – you can re-brand other people’s services if you make relationships with the right people.
That was when the idea of re-branding services entered my mind, but then I expanded on it and built several entire businesses around that same concept.
One client came to me and told me that their SEO told them to go find a copywriter to create content. I felt like that was a big loss on their part. They could have offered copywriting services and then hired someone like me to do the job at a lower rate than they were billing the client. That is exactly what sparked my entire business model for SEO Content Solutions.
Offer A Full Service Solution Rather than a Piece of a Solution
First let’s take a look at the people in the above examples and how they could add new service offerings to increase their profits without really doing any additional work:
- Web developer and designer referring others to get hosting – Resell hosting.
- Speaker or event planner whose clients/attendees must travel – Private label a travel agency.
- Web designer or SEO whose customers need content – Rebrand copywriting services.
If You’re Getting Business Through Referrals, Turn the Tables
If your business relies almost entirely on referrals because you offer the “support” product or service, flip the tables. Start offering the main products or services and then when you generate a lead, outsource those tasks to the company that is outsourcing you for their leads.
For example if you are an online copywriter, you may be constantly waiting around for someone to hire you to write website content at a rate less than what they are charging the client. In this case, your clients NEED a website before they need you.
Instead of waiting for people to outsource to you, offer complete web design and development packages and then outsource the pieces to various experts. I did this here with my all-inclusive corporate website development package.
Packaged Product and Service Solutions are More Valuable Than Just One Piece of the Puzzle
I could really go off here, but I’ll save that for another post. When you offer a suite of related products or services as a package – the total is more valuable than the sum of the parts. This allows you to charge for a solution – not by piece-work.
Here’s Exactly What You Can Do To Increase Your Profits:
1. Develop a suite of related products or services around your own product or service offer. This should provide a complete SOLUTION to your client that solves the problem they are coming to you for.
For example, if someone wants to advertise on your blog, what they are really seeking is online visibility – what pieces need to come together for them to achieve that? If someone is seeking web design, they don’t just want a design – that alone is pointless. They want to be noticed online – what pieces need to come together for them to achieve that?
2. Connect with talented people that can handle each piece of the solution that you can outsource projects to. Find out what their rates are for specific tasks so that you can build your package price. You might want to find a group of people who are really high end and offer expert comprehensive services and others that offer a budget solution so that you can build packages at several price points with different options.
3. Create a web page detailing your product or service solution and begin promoting it. Direct clients to it when they come to you for a single job and upgrade them to a full solution.
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