It’s July 29, 2024–just about 21 weeks till the end of the year.
Are you thinking now about ending 2024 on a high note?
I hope so! You can do a lot now to boost revenue, reduce expenses, increase leads, and sign new clients.
Let’s take a look at several options.
Increase revenue
There is nothing—nothing!—preventing your firm from raising fees and prices starting right now. You don’t have to wait till January or some other arbitrary date.
What’s the rationale, you wonder?
Your value to your clients comes from your knowledge and expertise. I know for a fact that you and your associates increase these every single day.
The greater your knowledge and expertise, the more significantly you help your clients.
The more significantly you help your clients, the more you are entitled to get paid.
That’s why you increase your fees/prices now and through the fall.
Reduce expenses
I’m not big on cutting expenses across the aboard or trying to get your own providers to take a rate or price cut.
However, you should spend a few hours combing through your latest Profit & Loss statement for outdated services you’re still paying for; subscriptions you never use; and membership fees to organizations you no longer need.
Increase leads
One expense you may need to increase is marketing. First look carefully at what you are currently spending on marketing (marketing is about attracting great fit clients).
Then ask whether your expenditure is generating great fit leads, or if it’s missing the mark.
I know it feels heavy to think about finding better marketing experts, but to me that’s an effort that pays off.
Ask for recommendations from other CEOs/Owners in different industries whose own great ft client profile is similar to yours.
Spend some time talking with these marketing experts. Emphasize you want to attract great fit clients, which may be a small number of people who would be likely to buy.
Big numbers indicate you’re appealing to a commodity buyer which you do not want.
Sign new clients
New clients who want your most significant life changing differences will contribute to a strong finish to 2024.
How do you get them?
You spend time getting to know them. You ask the SEVEN Questions. Then you design three options using the Choice Framework. Each option’s fee is proportional to the significance of the life changing differences you deliver.
Once they choose invoice immediately and get started.
If you think you need an “onboarding process” stop!
Onboarding is one of those buzz words which puts people off. When you become a client of another firm do you want to be put through their “onboarding process” or do you want them to welcome you with open arms and get value from day one?
Be that company.
Review your company’s ecosystem
Remember that all the elements of your company affect all the others. That’s the ecosystem of your firm.
When you change one element, you need to see how that changes the other elements.
For example, when you raise your fees/prices, be sure your invoicing system is set up for those new fees/prices. When you attract new, great fit clients who are expecting a lot from you, your proposals and options need to meet the promises that attracted them in the first place. Your customer/client service mindset has to match.
21 Weeks
There’s about 8 weeks until October 1, and 13 weeks after that until the end of 2024.
Set some goals in these areas:
- increase prices
- reduce some expenses
- attract new great fit clients
- make offers that will change their lives
Many of my clients came to me with pricing questions and have stayed with me to fine tune their ecosystem. You can do the same.
Text ECOSYSTEM to 703-801-0345.
End 2024 on a high note!
