On today's episode, we talk about the three revenue-generating things to do that matter in an online business. Whether you have a service-based, product-based, or education-based like an e-course, these three things are essential to generating revenue.
I started my entrepreneurial journey through a product-based business, specifically an apothecary. I sold slaves, balms, teas, tinctures, hair wash, facial tonics, lotions, scrubs, sprays, crystals, handmade goods like beanies, scarves, plant holders, candles, basically everything. From this experience up until now, as I still run Blu Radical Apothecary, I've been able to see what really drives profits into my business.
I have made a huge pivot with my business in the last three years, and these things are still consistent throughout. So let's jump into the good stuff, which are the three revenue generating things to do that actually matter.
The Three Revenue Generating Things To Do In An Online Busines That Matter
One: Start Your Email List
I'm saying this because I didn't and to this day I regret it and it's one of the biggest mistakes I made in my business. You don't even need a website to start and that's probably the best way. You can then really understand what your audience wants from the ground up. If I polled, surveyed, heck just asked the big questions to my audience directly, I might have even done better earlier in my business. Since growing my email list, my revenue has skyrocketed and increased by 500%, which is why email lists are great revenue generators.
How do you start an email list without a website?
First, you need to have an idea or an offer. For example, if you are just starting out as a fitness trainer, without a website try this:
Create a form on a site like Typeform or Google forms. This allows your clients to fill out a quick questionnaire about themselves and why they would like to work with you. Google forms and type form both host this form. This means they will give you a personalized URL that you can share across all your social media platforms.
Another option is to put out a freebie or an offer about health and fitness that would be valuable enough for someone to want to exchange their email address for. It could be 50 vegan recipes or 20 workouts to do at home. Your email marketing provider will host these opt-ins and also give you a personalized URL. This will help you to split test your audience and see exactly what they want before you even start to build your website. No shame in this game, put your stuff out there and see what your next steps in your email strategy might be.
Why does email marketing generate revenue?
Email marketing allows you to get personal with the people who decided to sign up and who have said they wanted to hear more from you. They want to know what you have, what you're up to, and to be updated on future products. This intern helps you generate more revenue because of your new loyal audience base. I don't see email marketing going anywhere, and if anything it’s consistently increasing. Email will be evolving, but definitely not going anywhere.
Two: Be Present On Social Media, Share Your Story
Far too often, people create a business and instead of showing up as the face of their business, they hide behind images and meaningless emojis or text. Try this instead, post images of you! Your workspace and your behind the scenes stuff. People want to connect with you, the person. This helps them to connect to you as a brand.
For example, If you are a masseuse, instead of posting pictures of quotes, maybe post pictures of your work station, the type of carrier oils you use, why you use them, and the benefits of them. Post recipes on how to make your oils for aromatherapy. Record yourself and the process with a friend and show why specific muscle massages are important. Create depth and story behind why you do what you do, how you got started, and what a typical day looks like for you.
Believe me when I say, people want to know you, whether you think so or not. I challenge you to post more about yourself, across all your social media platforms and get into it, show the goods, talk about it, love what you do and share that with people. Buying from people requires the know, like, and trust factor. When people see that you are a person who genuinely cares about what they do, they will be more inclined to purchase from you, thus generating revenue.
Learn how to use your social media to your best advantage here >>>
Three: Project Your Profits
When I first started my businesses I thought that I could easily get by on “maybes” like,” maybe” this or “maybe” that will sell. Whereas now, I know I need to sell this much by this time, in order to hit my projected profits. If you want your side hustle to become your full-time gig, you need to get into the habit of not living off maybes.
You can't wait around for money to fall into your lap, and you sure as heck can't be careless when it comes to organizing your finances. See the attached link to the google sheet and what I use to plan and protect my sales now and for the future. I have everything organized on a sticky google sheet that does the math for me, it’s broken up by month, expense, and my end projection of sales.
For example, If I know I need to make $3,500 by the end of the month, I know, I need to sell 9 of the Email Empire Lab courses. Seeing that break down is easier than thinking oh I need to make $3,500. This makes the goal seems far fetched and not attainable. Staying organized in your finances helps generate revenue because you are clear about your purpose, and what you are working towards. This all about mindset, not knowing what you need to survive would be a huge mistake.
1: Start your email list! This will not be the end of this conversation, you will hear me constantly talk about email lists because they are gold. Start your list today.
Jump on the Email Empire Growth Challenge where I teach you exactly how to start your email list from the ground up. Watch your list grow in 30 days or less. It's full of valuable information that I know you'll love.
2: Be present on social media and start sharing your story. Don't hide behind your products, service, or e-courses! People want to see you, know you, and connect with you in order to build the know, like, and trust factor. Share your story wholeheartedly and those pearly whites of yours!
3: Project your profits and stay organized. Projecting your profits is smart, it's basic sales 101. What are your goals? What will you do to reach them? By what day? Know what you need to make and then make it.
You cant push yourself or your businesses to create more revenue if you aren't clear about what the end goal is. Don't surf on maybes, things will change, and fluctuate, but know where you can make up for them if other things fall through. Have a plan to create your revenue.