Episode 232
Hidden Revenue: Recognizing What’s Already Working for Your Business [Ep. 232]
In today's episode, we're uncovering the hidden money in your business by focusing on what's working, rather than what's not working.
Key Points:
- The hidden money in business is often found by focusing on what is working, rather than what isn't.
- Examples of how clients found success by identifying and expanding on what was already working in their businesses.
- The tendency to overlook what's working and instead focus on what's not working.
- The impact of negative focus on one's perception of business success.
- The importance of dedicating efforts to what's already working, rather than constantly seeking new strategies.
Take Action:
- Reflect on what's currently working in your business, whether it's a successful offer, marketing strategy, or sales approach.
- Once identified, focus on amplifying and expanding what's already working instead of continuously searching for new methods.
Links:
Schedule a FREE Rapid Fire Strategy Session
Connect with me on LinkedIn
business growth strategist, sustainable business, business owners, mastermind, strategic reset, sales funnel, revenue, marketing strategy, sales strategy, networking, offer suite, offer conversion, social media, LinkedIn, Facebook, TikTok, Instagram, client acquisition, successful business growth, business challenges, consulting, online coaching, small business success
Transcript
Hello. Hello. Welcome back to another episode of the
Speaker:Real Truth about Business. You know me by now,
Speaker:or maybe you're new. My name is Michelle De Nayo. I'm a business growth
Speaker:strategist. And this is the show dedicated to giving you the real straight
Speaker:and honest truth about what it takes to
Speaker:grow a successful and sustainable
Speaker:business. All right. And today we are
Speaker:talking about the little hidden
Speaker:money that's in your business or money that's
Speaker:hiding in your business that you are not looking at or
Speaker:not looking for simply because you don't know how to find it.
Speaker:And what I'm talking about here is really
Speaker:focusing on what is working instead of not working.
Speaker:That's what I mean by hidden money. There are a lot of business
Speaker:owners and this has been coming up a lot in the focus. Visionary
Speaker:mastermind of well, this is not working and this is not working.
Speaker:And I could use some strategy around this, or I'm looking at this
Speaker:and this is not working. And my question always
Speaker:in return to those questions when they come
Speaker:through on the Q and a is what is working?
Speaker:Okay, so you have all of these things that you are telling me are
Speaker:not working. What is working?
Speaker:And that is where the hidden money is. All right.
Speaker:I've talked about this multiple different ways. This is part of the
Speaker:reflection process in the folks visionary framework in the five
Speaker:day kickoff or the five day reset that is now
Speaker:available on demand, which I'm super excited about. So if you
Speaker:missed the five day reset back in April or the first week of April, you
Speaker:can now buy the replays on demand and you can do this strategic
Speaker:reset whenever it works for you in your business. So
Speaker:you can just go to my website,
Speaker:michelleconsulting.com
Speaker:fbmastermind, and you can buy the on demand
Speaker:reset at 197 whenever you want it. Okay,
Speaker:but the hidden money,
Speaker:how does what's working correlate to hidden money? Right? Okay,
Speaker:so let's talk about it. What I mean by
Speaker:that is, and I talked about this a little bit on last episode, is that
Speaker:there is a lot of noise in the space of everybody telling you everything that
Speaker:is not working in your business. Right? Are you struggling to get new clients
Speaker:here? Or if you want to learn how to do social media or if you
Speaker:want to increase your content or maybe
Speaker:do you need more sales, do you need more revenue? Right.
Speaker:Those all focus on things that are not working.
Speaker:Right. That's why they are selling them to you, because they
Speaker:have a magic solution to help
Speaker:you fix what's not
Speaker:working. Where I always take the different approach and say,
Speaker:okay, we have things in our business that's not working.
Speaker:We all do. At some point, we're going to try something. It's not going to
Speaker:work, right? Like, that's a given, but what is working?
Speaker:Okay. And I'm going to give you a perfect example of this. I had a
Speaker:client inside the focus, visionary mastermind, who said, I am
Speaker:trying to grow my Instagram community,
Speaker:and it's just not working. Everything I'm trying
Speaker:is not working. However, the month before,
Speaker:she had seen a good amount of growth into that community.
Speaker:So I said to her, well, you had a lot of growth last
Speaker:month. How did you do it? What
Speaker:worked? She said, well, I went to a lot of networking events, and I
Speaker:talked to a lot of people, and I had a lot of conversations, and I
Speaker:told them all about my community, and they joined.
Speaker:Ding, ding, ding, ding, ding. If that
Speaker:worked, do more of it, right? Like, if networking and
Speaker:building relationships and having conversation works,
Speaker:then do more of it. And why I say it's hidden money is because
Speaker:when you do what's working, you're not spending your time spinning
Speaker:wheels. So there's hidden money right there because you now have time back,
Speaker:because you're not trying to do all of the things that are not working and
Speaker:you're focused on what is working. But then, on the other
Speaker:hand, is if you know exactly what's working,
Speaker:it's going to convert better, then you're spending less
Speaker:time again. But you can wash, rinse, repeat. So let me
Speaker:give you another example of this, because I think examples help. Another
Speaker:member in the mastermind came to me in the beginning of
Speaker:her planning and said she wanted to create a group program. And
Speaker:I was like, well, right now, you don't
Speaker:necessarily have the audience for the group program, because, again,
Speaker:group programs were in her world. It was a lower ticket item, which meant
Speaker:she needed more people and she needed more of an immediate cash
Speaker:injection. So I said, if I were you, I'd focus on
Speaker:one to one. So for the first couple of months of the year, that's what
Speaker:she did. And she started doing these. She had, like, a small
Speaker:offer that immediately converted to a bigger offer that
Speaker:immediately converted to a bigger offer, right? Like, she had this funnel set in place,
Speaker:which there's another podcast episode coming on about offer suites and how one
Speaker:leads to the next. But she had this. And
Speaker:so after a couple months, she said to me, michelle, I'm
Speaker:sitting here thinking about creating this new offer, and I don't
Speaker:understand why I want to do this when I have offers that already
Speaker:work, right? Like, I felt like I needed to create something new
Speaker:because this one other offer didn't work, when in
Speaker:reality, I have a sales funnel and an offer
Speaker:suite that converts very well,
Speaker:and I enjoy doing it, and my clients love it,
Speaker:so why am I not focusing on it, right?
Speaker:So she went in on that again, went in on what's working, and
Speaker:guess what? She sold more of them and made more money. So
Speaker:that's what I mean. These hidden little pieces of revenue and
Speaker:money in your business are hidden in the things that are already
Speaker:working. But we are so attached and so programmed
Speaker:to look at what is not working that we don't take the
Speaker:time to actually focus on what is really going
Speaker:well, right? Like, think about it. If you have a bad
Speaker:week, or let's say you're having a really good week,
Speaker:and all of a sudden something goes
Speaker:wrong, right? Like, you're getting along, things
Speaker:are going really well, and then all of a sudden, your car breaks
Speaker:down, and now all of a sudden, your week is bad, right? Like,
Speaker:oh, I had such a shitty week. My car broke down. It cost me this,
Speaker:this, and this. And we only focus on the negative, right? It's like,
Speaker:I had a shit week or whatever this happened. But prior to in that
Speaker:week, you signed three new clients. It's absolutely beautiful,
Speaker:sunshine, whatever you did, whatever,
Speaker:you got great sleep, whatever that is. But all of those things go to the
Speaker:wayside as soon as one thing doesn't happen. And that is what
Speaker:is. The same thing is happening in business.
Speaker:As soon as something does not go as planned,
Speaker:we immediately start shifting gears of, like, things aren't working.
Speaker:I got to try something new. I got to move on. I got to do
Speaker:all these different things when in reality, there's things that were
Speaker:working. If you have sold an offer,
Speaker:if you have had clients, there is something in your business that
Speaker:worked, okay? So take a look
Speaker:at that. Ask yourself, what's
Speaker:working in my business? Where
Speaker:are my sales coming from? They're coming from one networking
Speaker:group. Do more with that group. Get
Speaker:more involved. Be more active. Have more conversations.
Speaker:Teach master classes, host workshops. Reach out to these
Speaker:people, right? Build deeper connections with them. If that's working,
Speaker:do more of it. If you have one particular offer that
Speaker:sells easily, and no matter what, whenever you put it out, it
Speaker:sells. Do more of it. Do more of
Speaker:it. Keep putting that offer out there. Stop
Speaker:moving all around, right? If. Focus
Speaker:on what's already working. If you have a marketing strategy,
Speaker:if, you know, like, I had to do this myself, I'll give you another
Speaker:example. I could give examples all day long because this is
Speaker:very important to me, is when I was looking at my
Speaker:social media, I get wrapped up in really honing in on
Speaker:one platform. I like to be on all of them.
Speaker:I think all of them have a different nuance to them. But
Speaker:when I was getting overwhelmed, so I got overwhelmed with all of it.
Speaker:I ran out of time. My schedule has changed. I do not have time to
Speaker:be on all of them. Well, I
Speaker:had to ask myself, what worked? Where did I get the
Speaker:most clients, right? Like, where did I meet the best
Speaker:people? Where have I found it to be the most
Speaker:fruitful? The answer to that is LinkedIn
Speaker:and Facebook. I do still really love Facebook.
Speaker:So if those are the two things, why am I trying to put effort
Speaker:into TikTok and Instagram, right? I had another client
Speaker:years ago, same thing. She was, like, putting all this time and effort into
Speaker:Instagram and all this time and creating all this freaking content, showing up on her
Speaker:stories and showing up on her stories, showing up on her stories, and almost
Speaker:every one of her clients was coming from Facebook groups. And I was like,
Speaker:at what point are you going to start putting a little bit more effort into
Speaker:engaging in these Facebook groups where people are tagging you
Speaker:and less effort into Instagram? You're putting all your time and effort into
Speaker:this Instagram. And then you come to me and go, like, well, it's not working.
Speaker:I don't understand. Nobody's converting. But yet she was making
Speaker:sales. So I was like, well, if you're making sales, something must
Speaker:be working. Where are these people coming from? And when she looked at it was
Speaker:like, well, they're coming from Facebook groups. Okay, go do more of
Speaker:right, like, that's what I mean by hidden money. The answers are
Speaker:there. The money is hiding in your business. It's
Speaker:just waiting for you to find it. It's not really hiding. It's just that
Speaker:you're not looking for it because you're too busy focused on what's not
Speaker:going well, that you're not taking the time to look at
Speaker:what is. Okay, so your action
Speaker:item for today from this episode
Speaker:is to ask yourself, what's working?
Speaker:I want you to stop focusing on everything that's not working. I want you to
Speaker:find at least one thing in
Speaker:your business that's working, whether that be an offer, whether that be a
Speaker:marketing strategy, whether that be a sales strategy, whether it
Speaker:be a networking, whatever it
Speaker:is, what is working.
Speaker:Did you have a master class that went really well, that you haven't
Speaker:run again, right? The last time you ran a master
Speaker:class, did it convert, and you haven't done it again
Speaker:because you moved on to something else. Well, if the master
Speaker:class converted, do it again. I
Speaker:know for me, the five day strategic
Speaker:reset converts, because once people experience
Speaker:it and see it and go through the process, they see the
Speaker:value in it, and it usually converts. Right. So that's why I
Speaker:did it again in April. Normally, I only do it in December. I did it
Speaker:again in April live. Now it's available on demand
Speaker:because I know that it works
Speaker:again. I could go on and on. Like I was thinking, oh, I should probably
Speaker:create a master class. I should do this workshop that leads to the five day
Speaker:program. And I may try that, but at the end of the day, why? It's
Speaker:just one more thing I have to create where if I just focus on selling
Speaker:the five day strategic reset,
Speaker:I know that it works. So if
Speaker:I create a workshop, then I got to try to sell that or get people
Speaker:to show up to it and then hope that. Then they go up to the
Speaker:next thing and then hope that. Why? I have
Speaker:one thing that works. It's low cost, it's $197.
Speaker:It's a low entry point. It's an easier yes. So why
Speaker:do something different? Right? Blinders on.
Speaker:Get focus. You're going to sense a theme for the month of
Speaker:April. Set focus and do the
Speaker:things that move your business forward
Speaker:and eliminate the noise and the rest of
Speaker:it. Okay. I love you. I believe in you.
Speaker:Go take action. I'll talk to you soon. Bye.
