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| Are You Leaving Money on the Table? |
Published on 28-08-2006
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By Laurie Hayes
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Resource Laurie Hayes, creator of "The HBB Confidential" a free bi-weekly ezine, helps home-based entrepreneurs build successful businesses without losing their minds or their shirts. For FREE resources, visit http://www.thehbbsource.com.
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| Website URL http://www.thehbbsource.com |
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As a solo professional or home-based entrepreneur, are you still trading your time for money?
If you're being paid solely for the hours you work, your income will always be limited by the number of hours in a day.
In order to leverage your revenue generating activities, consider adding complementary products and services to your repertoire.
I recall a time when my massage therapist used this beautifully scented oil on my back and shoulders. The massage put me into a trace-like state and the aroma of the oil intensified the experience.
When she was done, I asked her what kind of oil she had used and she told me she created her own compositions using a combination of fragrances.
In that very moment, I would have purchased several bottles. To me, that oil represented peace, happiness -- complete and total bliss.
Besides telling others about what I thought was the answer to all the troubles in the world, I would have given the oil as an extra in wedding gifts, included it in care packages when friends were feeling stressed, even as stocking stuffers at Christmas.
Unfortunately, she didn't sell her creations, only massage therapy.
She was leaving a HUGE amount of untapped revenue on the table!
If you're currently trading time for dollars, consider this ...
When you have a client or customer in the act of purchasing from you, she's already in a buying frame of mind and would be much more likely to purchase a complementary product from you. (I can't recall how many times I've walked out of a hair salon with a new do and armful of styling products!)
As a consumer yourself, do you prefer the convenience of getting everything you need in one place or would you rather add an hour to your non-productive time and drive to several locations to get what you need?
Consider the additional revenue you could generate if you leveraged your existing offerings ...
· As a massage therapist, what if you offered a class every month teaching clients how to integrate stretching exercises, breathing techniques and meditation into their stress-busting routine?
· As a professional office organizer, what if you created a joint venture with a local business supply store and made a commission on all purchases made by your clients?
· As a life coach, what if you joined affiliate programs that offered books or products that benefited your clients?
· As a virtual assistant offering the services of sending cards on behalf of your clients, what kind of additional revenue would you generate if you integrated an online contact system like "hbbsourcecards" that would allow you to earn additional income on every single card you send? What if you inspired other VA's to follow suit and made income on every card they send?
· As a chiropractor, what if you sold health supplements and ergonomic cushions to alleviate muscle pain?
· The possibilities are endless ...
If you're still exchanging time for money as your sole means of income, consider the infinite revenue potential of adding complementary products and services to your business.
What one item could you add today that would benefit your clients and ultimately, your bottom line?
2006 © Laurie Hayes - The HBB Source
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