Service-Based Business Owners: Here Are 3 Places You're Leaving Money On The Table

Business is simple. We make it hard.

Our goal at The Business Advisory (founded by Kelly Roach, CEO ) is to offer business insights that allow you to drastically simplify, so that you can scale to the 7 ad 8-figure mark without overwhelm and overcomplicating it.

In today's article, we are uncovering 3 places that you're likely leaving money on the table in YOUR business —?and what you can do about it today.

As experts, we tend to overlook what's right within our reach (we like to call it "low-hanging fruit") and miss out on tons of opportunity right in front of us.

Because there are countless ways we (and our teams) can generate leads and close sales, we sometimes end up leaning toward the most sophisticated, overcomplicated methodologies and overlooking the most simple, effective strategies that generate the greatest return for our time.

So, coaches, consultants, and service providers, listen up: if you struggle with sales, these 3 things are easy ways for you to add an additional 6+ figures of revenue to your bottom line each year.

#1: Leveraging inactive customers.

This is a strategy that large corporations do a phenomenal job at, but small business owners don't tap into nearly enough; however, it is a fundamental component of scaling your business and creating a profitable, self-sustaining entity.

In the world of coaching, consulting, and done for you services — people by habitually and seasonally. That means they are purchasing based on either a need for life, or something they may cycle through spending money on as they need your service.

When a dream client chooses not to renew with you, remember that there may be no reason other than they need a season off. While it may be upsetting to you, diligence in staying in touch with that person and creating continuity in the relationship will always result in past customers reactivating.

If you don't already have one in place, consider how you can systemize that continuous relationship build and nurture process so that when one customer exits, you always have another renewing. Otherwise, those inactive clients are going to invest in another person's service based on top of mind awareness when they are ready to jump back in.

#2: Hosting info sessions.

This is a particularly effective strategy for getting current clients to upsell into your ascension programs. Enrolling existing clients into an ascension program with you is the equivalent of making a new sale, as this person is likely. investing in working with you at an even higher level (example: many of our Empire Builders coaching clients up-level into our Legacy Builders program as they surpass the $250K+ mark, and then into our Legacy Leaders Mastermind once they reach $1M+ in annual recurring revenue).

Whether you run a membership, coaching program, done-for-you services, or work with clients in a private, 1:1 capacity, monthly or quarterly info sessions are a great way to invite people to learn about working with you at the next level (haven't developed your ascension program yet and wondering how to structure that for your unique business model? Our team offers complimentary, 15-minute strategy sessions: book here).

You can decide how little or how often you host these info sessions; but this is one of the simplest ways to create consistency in moving clients from your flagship to your ascension program and producing sales with no ad costs, additional staff, or heavy lifting from a promotional campaign standpoint.

And while it sounds simple; every time we coach clients through hosting an info session, they generate revenue. You can put one together as soon as today, and have dollars in the door by tomorrow afternoon.

One of our Legacy Builders clients recently implemented this strategy after struggling to move people from her flagship to her high-ticket ascension program. Upon wrapping her info session, she immediately upsold 4 clients.

Things you'll want to cover in your upcoming info session:

• What the next level of your work together looks like
• Who specifically this is for, and how to know when they're ready to up-level
• What's the end goal of your work together, and what results can they expect?

Extending the invitation to current clients also leads to higher engagement in your flagship program and superior results, as they will be working hard toward a definitive next step and understand, from a results standpoint, what needs to happen in order to get there.

#3: Making offers daily

This is as simple as sharing offers across your social media channels every single day in some way, shape or form. This could be a direct invitation to apply for your program, to book a consultation with you, to join an upcoming workshop or event (virtual or in-person), work with you in a VIP setting, or to purchase a product.

At face value, it sounds salesy. But, when coupled with consistent, high-value content, you already have built reciprocity with your audience and can invite them to take the next step.

However, if you're not sharing high-value content frequently and start making offers each day, people will likely tune it out.

Tip: drive urgency around the offer if there are limited quantities (i.e limited space) or price increases. Find new and different ways to extend these invitations (consider stories, videos, Reels, direct posts, blogs or newsletters, the list goes on!)

Taking Action:

Incorporate these 3 simple strategies over the next week:

• Extend an invitation to current clients to join you for an upcoming info session, where you will share about the opportunity to up-level into the next tier of your program or service. This can be via email, group posts, live calls together, personal communications, etc. Plan and host your info session and bring in those upsells!
• Develop a posting schedule to share out your current offers with the market. Leverage your different social media pages and tools to get in front of your audience in different places. Determine the call-to-action for each offer and how you will position it.
• Circle back with past clients to reactivate or continue maintaining the relationship. These conversations don't have to be sales related; simply find ways to stay top of mind so that when the time comes, you can present them with an opportunity that'll add value.

We hope this article got your wheels spinning, and look forward to supporting you as you scale to the 7-figure mark and beyond!

-The #BusinessAdvisoryTeam