Every woman business owner I know wants to make more money in her business. And, I’m no exception. But just how do you do this?
Here are five high-level approaches to consider. Which one will work best for you?
Five Ways to Make More Money in Your Business
1. Create Additional Revenue Streams.
Do this by asking, “What else will existing customers pay for?”
2. Raise Your Fees.
If you’re not getting push back that your pricing is too high, then you are not charging enough. Increase your fees and see what happens.
3. Create Remote Offerings.
What offerings can you provide in the form of a teleconference, webinar, or e-book?
4. License or Sell Your Intellectual Property.
Expand your revenue without hiring additional staff by deciding which elements of your business you could license or sell as intellectual property.
5. Lowering Expenses.
At least once a year, go through your financials with the intention of cutting unnecessary expenses. Just because you’ve always done something doesn’t mean you should continue doing it.