What To Do On A Low Income Month

So you're feeling squirrly because you're not hitting your revenue goal for the month. What do you do?

I'm sharing some ideas for what to do when business is slow or you're feeling restless about the income that may or may not be coming your way.

Let's dive in!

Know Your Money-Making Activities

Since you're at six figures and working to get into the multiple six figures, hopefully into the millions, you should have a plan for where your income comes from on a monthly basis where you can expect that you can see that money coming in each month if you do X.

What typically happens by the time you're at six figures is that you should be able to spot those correlations or cause and effect in your business.

Now what I find with my own business, with my 1:1 clients and with my students, is that often we try to reinvent the wheel and we go for things that are just new fangled but not something that we're very talented at, or it's not our core skill tat actually brings in extra income for the month. When we're feeling a little squirrly, so to speak, we often go to shiny objects instead of what we know.

So here are some ideas of things that you can do in your business when you want that cash injection. It's not as hard as you think!

Look at Where Your Leads Come From

So a lot of this goes back to the core of where your business started. Thinking about on a monthly basis, where do most of your leads come from? Where do most of your clients or students or customers come from? You probably have some tools and resources that you're not tapping into as much as you should.

Oftentimes that's your email list. So sending emails to your people, getting in touch with people that way, making phone calls, etc. If you were to back up and look at the dashboard of your business, you could envision all these knobs and levers. This is something that I learned from my own coach.

You take a step back, get to that 30,000 foot view and look at those knobs and levers for everything that you have in your business. If you push this, what happens and what do we need to dial it to?

What To Do To Increase Sales

So for example, say you are a service-based business owner and you run Google ads and a lot of your income comes from that.

Getting new leads might look like putting an extra $50 towards Google ads this month, because we know that it's like a machine when we put the money in, we get the money back out.

What NOT To Do To Increase Sales

Now, something that you probably shouldn't do is panic about needing new customers, and doing something you've never done before. For example, let's say you've never run Facebook ads or TikTok ads but you decided to run TikTok ads this month even though you never use your TikTok account and you definitely don't know how to run TikTok ads.

That's not where you need to go. I know it's very tempting to want try something new, but oftentimes it's back to basics, such as texting clients, calling clients or customers, and just getting in touch to see how they're doing.

This action will jog their memory of you. Most importantly, make it about the other person that you genuinely care about. Get excited about sharing information that might be helpful to them. As a person, think about each email, text, or phone call that you're sending and make it about that person individually.

Oftentimes we look to social media or doing something big and grandiose, like an event or big sale. But those things are really difficult to pull together. Instead of doing the simplest thing, like just looking back at your email list, no matter how big or small it is.

If I check in on my people or I share something that's relevant to them and relates to my business, that can really make a big impact.

This podcast episode was short and sweet, but you can come back to this when you're feeling itchy and you want to do something to really get a cash injection in your business. Don't get too far ahead into trying to figure out some brand new, and instead come back to this episode to remember that the simplest answer is usually the right one.

So if you're needing a cash injection, make those phone calls, send text messages, and send emails to your list and previous clients or customers. Those are the things that oftentimes (and I would say 9 out of 10) are what's going to make that difference to push you over the edge when you are not quite at the financial goal that you want to be at for the month.

If you found it helpful, share it with a friend!

Always cheering you on,

Kate

Creator of the Smarter Not Harder: 3-Day Workweeks for Millennial Entrepreneurs©  Program

Owner + Founder, Kate Waldo + Co. 

P.S. Curious how you can grow your 6-figure business while slashing your workweek in half? Click here to learn about the Smarter Not Harder© program!