1. Refine your business model.
You need to have clear formula for how you will double your business. Be very clear what your business model is and exactly what numbers you need to achieve your goal. Sure, you can double your business if you simply double your fees or double the number of customers you have, but these are actually the two hardest ways to go about achieving that.
When I work with entrepreneurs on their business models, the answer typically lies in diversifying the revenue model. In essence, it’s about creating more ways at different price points for people to do business with you. Think of your business like a retail store. The more entry doors you have, the more people you can have flowing into your store.
2. Clarify what drives you
What is your single, motivating purpose behind why you do what you do? Articulate that purpose in a short, simple message you can use to remind yourself of your true calling. Every entrepreneur has the same basic needs of course, to pay the bills. But, money only fuels a short drive. If you want to double your business and create a company built to last for the long run, tap into what is the single purpose that’s driving your business. Motivation can move mountains.
3. Write down a plan
Let’s say you are an occasional runner and you decide your goal is to run in a marathon that’s coming up in 12 months. In order to transition from being hobby runner to becoming a marathon runner, most people would hire a trainer. Professional trainers would never leave your sessions without giving you a written plan for what exercises they want you to commit to doing in between sessions.
Doubling your business is no different. It’s extremely difficult, if not impossible, to double your business from trying flavor of the month approach when you feel like it. Be very specific and write down your plan in advance things like:
- Which marketing tactics will you implement?
- What will your freebie offers be?
- How often will you execute?
- How much will you budget?
- What will your call to actions be?
4. Find the best support
If have never climbed a mountain before and you trek out alone, you’re bound to learn a lot of things the hard way and suffer a ton of pain in the process. If you want to go slow; go it alone.
If you want to go far; get support.
Trying to double your business is no different. Finding a mentor gives you the guidance to be well prepared. Be sure to choose a mentor who has climbed that mountain before. The right mentor can help you avoid costly, painful mistakes and help you get to the top of your business much faster!
QUESTION: What is the biggest obstacle getting in the way of you doubling your business?
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