How I'm Creating Consistent Income In My Business
Over September and October, I had my best income month in my business. But how do you go from an amazing month of income to creating consistent income?
To be honest, it's still something that I'm playing with and finding what works for me. But I thought I'd share the steps I'm going to take to make sure that I keep hitting a similar level of income through 2020 and beyond.
The background - my best income month in biz
I did already cover this in far more detail last week, but here's a quick overview:
My personal life took a downward dive in August
Because my heart wasn't in the biz for that period of time, I made the most of the content I had batched, reused content, and followed up on warm leads
Over a 30 day period (19th Sept-19th Oct), I managed to bring in over $8700AUD - my highest income month yet
It's pretty exciting to hit a number like that, especially as it's less than $400 off my dream monthly income goal.
But for me, it was only the first step. Now I want to find ways to make that level of income happen on a more consistent basis.
Why I'm focusing on creating consistent income
To set a big goal and actually make it happen, you need to be clear on your why. Some whys are surface or funny, and others can be deep in the core of your being.
So I wanted to share my reasons for focusing on creating consistent income - you might resonate with some, or you might have some of your own!
I want to create consistent income because:
It means I can pay myself a full-time wage (on part-time hours!)
It takes away a lot of the financial stresses that come with being a business owner
I can build up my financial buffers to further protect me from financial stress
I can build up my savings and work towards long-term financial goals
It gives me the freedom to attend almost any training or conference I want - anywhere in the world!
I'll be able to pay for and take a decent holiday over the winter months guilt-free (and escape my winter SAD)
I can give back by going on regular volunteer trips with my friends over at Involvement Volunteers International
It allows me to build long-term security and financial freedom through investments
I can continue to invest in my own physical, mental, emotional and spiritual wellbeing and self-care
Have a think about what consistent income means to you. How would it make you feel to have all of your bills covered and your savings grow? What types of freedom would it give you?
The steps I'm taking to build and maintain $8K+ months
Now that we're clear on why we're creating consistent income, let's look at how we're actually going to make it happen.
Creating consistent content = creating consistent income
When it comes to marketing, consistency is always key. Working in the health marketing world is no exception to that rule.So what does consistent content mean for me?
Showing up in Facebook groups, even if I don't have space for clients that week
Posting to Facebook regularly
Scheduling regular content to Instagram, so at least something goes up!
Resuming my weekly blogs and newsletters (I missed maybe 2 newsletters and 2 blogs last quarter)
Building up ongoing clients
One big issue with self-employment is that income tends to fluctuate. That's why a big focus of creating consistent income will be building up my ongoing client base.
At the moment, I have ongoing clients that add up to $1800-2000/month. It's a good start, but I'd like to bring in more.
I have a range of marketing services which I am looking to share with more people, and because these packages are paid using direct debit every week, I don't even have to think of the financial side - it's all taken care of.
I'll also be looking at for more opportunities with health brands that need weekly content from someone with a practitioner background.
Following up on opportunities
I'm pretty good at manifesting, spotting, bringing in and taking advantage of opportunities that come my way.
A big part of it is that I offer free 15 minute chats with people who are interested in working with me. Because these are via Zoom and therefore 'face-to-face', we can figure out pretty quickly if we're a good match.
Of these free calls I offer:
75% convert into paying clients - awesome.
15% aren't a good match - either they aren't willing to pay my fees, or I know someone who is better suited to their needs and refer them on.
But the remaining 10%? They are super-promising face-to-face, but then disappear.
I used to tell myself all sorts of stories about this remaining 10% - usually to my detriment. What I haven't done is gotten consistent with following up with those people.
After all, for all I know, they just got busy and my follow-up email is the perfect reminder!
So from now on, I will follow up with any chat or opportunity that comes up 7 days later if I'm at all unclear about the situation.
Charging what my services are worth
I'm already pretty happy with what I charge as a health writer and marketer - I feel like it's a good balance for the value I offer clients. But I could be a bit more on the ball with including things such as rush fees.
Towards the end of the year, a lot of people want their work done yesterday. But every time I rush someone's job, it's at the expense of someone else's.
Rush fees are pretty standard in the freelance world. Despite that, I've only charged them maybe half a dozen times (and I've done a lot more than half a dozen rush jobs!)
So from now on, rush fees and fees for work that extends outside of the original quote will be charged with no apologies.
Set myself up for success every day
A good morning routine makes a good day. As someone who is an early riser (thanks to my partner's 4.45am alarm), I have time to get set up for success. So now it's time to make that happen!
For me, setting up for success means:
Moving my body through walking and/or yoga
Eating a nutrient-dense meal
Getting hydrated
Making an achievable game-plan for the workday
Taking my morning supplements - currently on an adrenal mix from my naturopath and PEA
Doing something that puts me in a positive and motivated state of mind, such as a podcast, meditation or an inspiring video
Take more time out for myself
One interesting lesson I had from my biggest month in biz was that I actually didn't spend that much time in it. I worked 20 hours or so per week.
But more importantly, I spent a lot of time on my own self-care. I had appointments with my healthcare team. I got my hair and eyebrows done. My partner and I had 3 date nights.
There are two ways to take this - so go with the one that you prefer.
The first is that by taking my attention off my business and income, I'm allowing more energy to flow in. It's kind of like the saying goes, 'a watched kettle never boils'.
The second is that by taking care of my own wellbeing, I'm ensuring I show up as my best and most energetic self when I work and when I market. As we know, marketing from a place of feeling good is incredibly powerful!
Either way, I'll continue to prioritise my life, my wellbeing and having fun.
Bonus steps
Once I've got the above covered, there are extra steps I can take when I'm feeling good or like I want to take it up a notch:
Make the most of quiet days by being proactive instead of moping around thinking I'll never find clients!
Regularly review things such as my social media channels and my website from a client point of view, and tweak when they become out-of-date
Build up my mailing list so that more practitioners get to read my blogs and find value in what I have to offer
Start doing semi-regular Facebook lives again - whether in a group setting or on my own page