More Clients or More Cash? The Truth About Revenue Growth

Tracie: 00:00:00

Hello, everyone.

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Tracie here, your resident

business, rebel, and your listening

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to digital Hello, everyone.

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Tracie here, your resident business,

rebel, and your listening to

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Digital Business Your Way podcast.

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The show that lets true stories

and insider secrets of online

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entrepreneur life unfold.

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Our business world is growing and as

an online business coach and digital

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product creator, I believe you didn't

become an entrepreneur to grin and

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bear your way through business.

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So I'll be your guide.

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As we drop in on coaching

calls, have intimate sit downs

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with online personalities.

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You love.

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And discuss ideas, opportunities and

strategies circulating our online world.

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So pop in your earbuds, tap,

follow, and join me as I demystify.

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This thing called business.

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Hello.

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Hello.

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Welcome back to digital business.

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You're away.

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I'm Tracie, your resident business rebel.

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And today we're diving into a coaching

conversation that might just shift the

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way you think about growing your business.

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This one's for all my coaches,

service providers, course creators.

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All of you who offer high touch programs,

whether that's a one on one coaching

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group membership, hybrid, right?

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If you've ever felt stuck between

wanting more revenue, but not

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necessarily wanting to scale that offer.

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Well, that's what we're

going to talk about.

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All right, so let, let's get into it.

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Cause one of the biggest

struggles I coach people on is.

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Is business owners putting

pressure on one specific offer

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to solve all their revenue woes.

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You have a coaching program, a mastermind

membership, et cetera, et cetera.

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And it's working.

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People are getting results.

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You're enjoying it.

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But not quite at the

revenue level that you want.

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So you think, um, I just

need more people in here.

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But what if the tension you're

feeling isn't actually about growth?

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What if it's about misplacing

your revenue needs?

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because that's exactly what came up, not

just once, but twice this week, twice,

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two different people, two completely

different coaching conversations,

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two completely different containers.

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And I thought, all right,

we are going to hit record.

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We're going to talk about this

because it's, it must be something

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that Floating out there in the ether.

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These are two wonderful people that

get great results, but they are very

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different businesses and, people that

are at very different levels, like

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experience levels and revenue levels.

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And it's the exact same situation.

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So let's, let's bring it out for everybody

because I see you, I feel it and let's,

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let's make it a normal conversation.

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Yeah.

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So these business owners were

feeling resistance around

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growing their memberships.

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But when we dug into it, the

real issue wasn't actually

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about growing the membership.

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It was about revenue need, right?

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And that's a very big distinction.

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The problem that they

were trying to solve.

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Wasn't needing more

humans in their program.

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It was needing more dollars

flowing through their accounts.

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Okay?

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You feel that difference there?

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So let me ask you.

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Are you trying to grow your program?

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Or are you trying to solve a revenue gap?

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Very different things, right?

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And the strategy that you choose

Depends on the answer to that

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question, because if you're trying

to grow a program, you're thinking

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about community building, engagement,

onboarding, retention, continuation.

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You're focusing on getting the right

people in, keeping them in for the

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long haul, getting them fantastic

results, growing your skills,

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growth, growth, more and more.

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Yeah.

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If you're trying to solve a

revenue gap, however, I mean

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your options and opportunities,

they just expanded exponentially.

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You have more ways to bring in

money than just adding more clients.

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Right?

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Do you hear that?

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You have more ways to bring in

revenue than just adding more clients.

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Yes, you can increase prices,

coaching packages, group programs,

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memberships, products, et cetera.

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Volume, right?

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It's more people buying.

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We can also improve conversion

rates on existing offers.

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We can create new offers like VIP days,

whatever you want to label these things.

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You can dust off and sell programs

that exist that you've forgotten about.

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you can upsell clients

into longer term contracts.

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You can talk about continuation plans.

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You can add on services, you know, what

are they saying that they need, that

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you have the capacity to provide, And

those are just a handful of examples.

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There's, there's many, many more depending

on the actual situation that you're in

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and the capacity for the season of life

that you're going through right now.

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Yeah.

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But this is where I see a

lot of people getting stuck.

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They feel tension around growing

a program because deep down they

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don't actually want more clients.

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They want more revenue, but they don't

realize that that's two different things.

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They don't realize they have choice

there, that there's a gap between them.

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Those are actually different goals.

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So let's talk about some strategy here.

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If you're focused on revenue, you can

start by looking at what you already have.

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Can you offer one on one upgrades

for group clients, VIP intensives for

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fast track experiences, mastermind

add on for existing coaching clients,

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digital products based on your

existing coaching frameworks, right?

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And you can, you know, change

the word coaching to memberships.

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to service packages to, you

know, et cetera, et cetera.

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Right.

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It's interchangeable.

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The point is there are multiple ways

to increase revenue without forcing

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yourself into launching or scaling

something that doesn't feel right.

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And again, I'm talking

about not feeling right.

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Cause there is a difference stretchy.

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And you are ready to expand beyond comfort

versus your entire being saying, hell no.

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What do you think you're doing?

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Okay.

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You have to, you know, know yourself.

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You've got to come together in order to

feel that difference, but there is a very

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distinctive difference between those.

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All right.

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So is it like a butterfly excitement?

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Here we go.

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I don't know what's going to happen, but.

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This is going to be a

leap into the unknown.

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Let's do it kind of Expansion or is

it a I am stopping with all of my body?

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Don't you dare push me forward anymore.

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We are not doing this I'm going to

sabotage every single move we make

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because this isn't gonna happen.

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Yeah All right Both of them you might

at first kind of label You know,

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fear or what I call nerve sided,

you know, where you're nervous and

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excited at the same time, right?

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Because that's just kind of that

little butterfly is welling up.

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But once you have that kind of initial

flutter, you then need to sit in it

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and say, does this not feel right?

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Or do I just not know

what's going to happen yet?

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And this is actually my moment to step

out of comfort and into expansion.

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Okay.

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So I want to pause and make sure that we

are talking about the same thing here.

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Cause when I say it doesn't feel right,

I mean does not feel right versus

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using that as an excuse whenever really

this is your opportunity to expand.

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Okay.

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So back to it.

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Another key piece of the puzzle

that we must talk about is

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diversifying your revenue streams.

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So that way all the pressure isn't

sitting on one main offer all the time.

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Yeah.

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If you're feeling financial strain,

it might be time to introduce new

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but complimentary offers that work

within your existing business model.

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So think about digital products that

repurpose your existing coaching content.

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Low ticket micro offers that give

people a taste of your expertise.

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Hybrid coaching models that mix

group and one on one support

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depending on your capacity.

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Subscription based access to

resources or exclusive content

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that end after a certain period.

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So that way neither you nor them

are locked in for an eternity.

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Right.

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That's really helpful for people to feel

that end date of commitment, especially

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when things feel turbulent and unsure on

a grand scheme where no one can control.

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Yeah.

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Like political and economy and

all that kind of big heavy stuff

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that, that, you know, happens

over and over again in cycles.

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Yeah.

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So when your business has multiple revenue

streams coming from various places.

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It gives you flexibility and

it relieves the pressure to

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constantly enroll new people into

a single high touch offer, right?

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As well as gives you capacity flexibility.

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Whenever things are a bit too

much or something happens that

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you need to respond to in your

personal life or in your business.

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Yeah.

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Instead, you're creating a

sustainable ecosystem where different

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offers feed into each other.

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And it creates what's actually a funnel.

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So people are naturally being

brought from one offer to the next

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when it's appropriate for them as

they are already in your world.

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And it's time to move into the next

stage whenever they feel it's right.

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Yeah.

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That's, that's the

accurate use of that word.

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Okay.

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And if you're like, Oh, hang on, I

already have some of these examples.

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When did you promote it to your

list or to a wider audience

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and bring in some new people?

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That's a launch, by the way, to

remind people that these products

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exist or to introduce yourself to a

new group and, you know, really like

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create some buzz and some fanfare

and some brand awareness around this.

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To show people that, Hey, you're awesome.

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And these things get people results.

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Oh yeah.

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And they're all available for sale.

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And if you're thinking it's been longer

than a month since I've touched any thing

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else, it might be time to rethink that.

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Yeah.

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Especially if you're sitting there

feeling that tension of revenue squeezing.

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And for those of you who are on the other

side, and you're thinking, no, but I

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do, I do want to grow my group program.

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I do want to grow that membership.

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I do want to grow these pieces.

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That's fantastic, too.

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So instead, let's look at

the ways to make that easier.

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So first, well, what's

stopping people from joining?

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Do you know, have you asked people,

do you have data around this?

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Get as much as you can from people.

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Yeah.

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Right.

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Is it clarity, trust,

access is access to you.

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Is it access to the platform?

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Is it what, right?

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There, there's many

different ways to take that.

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So dig into it.

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Same thing with the word trust.

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Same thing with the word clarity.

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Cause it actually can be the clarity

of themselves with the problem.

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Are they actually going

to do it this time?

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Can they actually make the change as

well as the clarity of your messaging,

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as well as the clarity of your

promise, as well as the clarity of

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the results and what you do, right?

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So we have to look at the full spectrum

of all of these words and overwhelm

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over when their personal life and their

overall, you know, community in the world

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that we're in at large right now in, in

all messages are just getting swamped.

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Is it overwhelmed in their business?

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Because you don't remember around here,

we always talk about, they are not

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joining you, you were joining them.

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So your program, your community,

your access, your coaching is

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one hour, 30 minutes, one part,

three hours of their day, right?

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They don't pause everything.

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And you know, get to stop the world

and pause and be a part of you and no

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longer be a mom, no longer have other

responsibilities, no longer need to take

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care of themselves or the world or their

house or their own business or their job

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they're in or anything else in their life.

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Right.

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The people that they're responsible for.

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All of that stuff still exists and yes,

you can create, you know, a retreat

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in a community to come to and rest in

and a safe haven to be a part of, but

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that's still one segment of their day.

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Yeah.

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So we have to always realize that

the sales isn't just about us.

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It's also about what they have going

on and we just need to make sure

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that we are a pleasant touch point

for them to remember for the future

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as well as be an open invitation

for those who are ready now, right?

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You might not need a full scale launch.

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You might just need a better way

for people to get a taste of what

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you offer so they can see what it's

like to have you in their world

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and how you will fit in seamlessly.

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Give them that example.

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Show them what access is like.

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Show them how they can trust you.

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Show them how they can get that clarity,

what it would be like to really join.

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You know, and, and one strategy is to

take part of your best coaching content.

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The thing that clients just

absolutely love the most, turn

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that into a micro offer, right?

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You know, we love our micro

actions around here and micro

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offers are one of the fun ones.

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Sell that, sell that as a taster, make

it a bundle and on demand training.

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Let people get a feel for what

you do before asking them to

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commit to the full thing, right?

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If you're thinking about creating micro

offers and you're not really sure what

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to start, I've got you, you know, you can

grab, , a freebie actually that I've made

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called five ways to create micro offers.

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It's a great way to see how

your existing genius already has

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beautiful pieces Out there for sale.

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Yeah.

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I'll walk you through how to create

small, profitable offers that fit

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seamlessly into your business, right?

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The link will be in the show notes,

but it's, it's a great one to grab.

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And that's, one micro action that you can

take into your day to Um, help diversify

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and to help look at these different

revenue streams, as well as giving people

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most importantly, a taste of what it's

like to be in your bigger programs, right?

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So whether you're needing to diversify

revenue streams or whether you are

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also, or only wanting to grow these

programs, it fits both of them.

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Yeah.

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Cause the key here is alignment.

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The revenue strategy should match how

you actually want to run your business.

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If pushing for growth makes you feel

resistant and remember, not stretchy,

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but resistant, listen to that.

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But if you want more money without

scaling up that client volume, we've

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got a lot of other ways to explore.

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Right?

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Lots of other levers that we

can pull to get more revenue

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without just adding more people.

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It's not just about, you know,

memberships only, coaching programs only.

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It's any of these high

touch offer strategies.

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One on one masterminds, groups,

hybrids, all of the above.

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The goal is to create a revenue plan

that works for you, not just follow

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the default grow bigger path, right?

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That can, like, leave you exhausted and

confused about onboarding and community

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support and all, all the other Back end

pieces that go along with it, right?

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Because it can be beautiful to be

surrounded by that and it can be

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beautiful to see the money in the bank

and all The things that you get to do

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with that, but that's not always what

you want for the season that you're

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in so let's explore what else there

is and what it is that you're truly

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after and Separate the goals so we can

get you what you really want quicker

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right So that's what we've got today.

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If it sparked something for

you, I'd love to hear it.

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You can always drop a note in the AMA box.

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You can always ask follow

up questions in the AMA box.

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I would love to hear it.

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And don't forget to grab that micro offers

freebie where I walk you like step by

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step through, um, how to dig out those,

golden pieces from your existing genius.

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All right.

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And experiment with some

new revenue streams.

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And until the next episode,

be well and have some fun.

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Thank you for joining me here

on Digital Business Your Way.

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Be sure to check out the show notes

for all the links mentioned today.

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And while you're there, I'd love

for you to rate and review the show.

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And if you have a topic or question you

want me to answer, I want to hear it.

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Head to Tracie Patterson dot com slash

AMA and ask me anything about business.

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If I don't know it, I'm bringing

up with one of my guests.

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And until next week, be

well and have some fun.