Today I want to talk about a mindset piece that a lot of visionary entrepreneurs and transformational leaders get stuck in. It’s what I refer to as the financial catch-22.
This is something that can make it really hard for business owners and CEOs to invest in the growth of their business the way that they want to, and it can also be really draining to keep up with in general. My goal is to help you escape this conundrum, grow your business in a sustainable way, and to achieve a greater sense of financial freedom in your business.
The Financial Catch-22 Explained
Typically this sounds like, “I just need to make three, five, or ten thousand dollars more to finally invest in the team systems, tactics, and strategy that I know I need to grow my business.”
It usually is a small dollar amount compared to the overall growth of the company that’s holding them back. But, they feel like they need more leads to make that money. That causes them to be constantly hustling to drive more leads into the business to increase their revenue in order to attain that financial freedom.
In many of these cases, though, there’s no predictable revenue because they’re driven by the launch model. That means that they’re investing a lot of time and energy in short spurts to make a lot of sales.
On the flip side of that, they likely have very little income coming in between launches. This makes it scary to invest money in teams, tactics, systems, and strategy. No one wants to increase their overhead if they don’t know if they’re going to have the money for it next month.
Then, when these business owners do get that extra money they’re after, many times extra expenses accompany that jump in income. So even that extra money has a slim profit margin and the difficulty to invest in growth is still there.
With that being said, I want you to think about what your biggest challenge is in your business. Are you hurting for leads? Do you lack revenue? It’s hard to invest in the growth of your business when you’re caught in this financial catch-22 where you know what you need to do to drive growth, but you don’t have the money, time, and growth to make that happen.
If this is you, I have a few strategies that you can use to unblock yourself from this issue. These are strategies that my team and I implement within the first 90-days of working with clients.
The Empowered Client Journey
The first strategy is the empowered client journey. This journey is customized to each client. It takes their clientele from the moment that they connect with them and become aware of them to the moment they’re ready to say yes and make the purchase.
The reality is that your ideal leads need at least seven to 14 touchpoints from the time they’re aware of your business to the moment they’re ready to buy. This is the way you’re building trust with the lead.
Only one to three percent of leads are ready to buy immediately. That leads to you having a lot of sales calls with people that aren’t ready to pull the trigger and make the purchase. This can be frustrating and disheartening. When you know you have something amazing to offer but you keep hearing no, it’s discouraging.
But what’s in the way of that resounding yes is a lack of the empowered client journey. The leads you’re talking to aren’t qualified. This is because there’s a gap between you and the right leads – this is where the nurturing that the empowered client journey offers comes into play.
This journey will help filter your leads to make it more likely that the people you talk to are ready to say yes to your offer. It also allows more room for creating an abundant relationship with these clients.
On average, our clients close 80-90% of leads because they’re spending so much time on this nurture sequence prior to making sales presentations. Say goodbye to wasted efforts and hello to more sales!
Win, Win, Win Offers
In this strategy, we offer a win for you, a win for your client, and a win for your business – hence the name. This highlights your unique genius and helps you stand out in the marketplace.
It also creates a no-brainer offer for your clients and will make them excited to work with you. Finally, it generates more than enough profits for your business to get you out of that financial catch-22.
This combined with the empowered client journey helps you skyrocket your revenue, allowing for predictable monthly income. Your profit margin will go up and you will be comfortable investing in the growth of your business.
Stand Out & Grow Your Business: The Bottom Line
These strategies are part of the 7-Figure Freedom Methodology that allows you to simplify instead of multiplying at this point of your business. The empowered client journey and win, win, win tactics will put you in a whole new space with your clients and will drive up sales and trust, really freeing you from that financial catch-22 and allowing you to grow your business the right way.
I would love to get connected on Instagram or The 7-Figure Freedom Club Facebook Group so we can chat about your takeaways from this episode. If you’re interested in learning more schedule a call with me today or visit my website!
And if you want to take the next step, take the business assessment quiz to get started.