How to Make More Money in Your Business

Oct 18, 2021 | Entrepreneurship, Podcast, Social Media

Inspired by a member of our Wanderlover Community Facebook Group, this episode is a self-assessment for all entrepreneurs to see how they can invite more income into their business. This often requires getting over our ego and victim mindset, and taking action from a place of faith over fear. Tune in for a technical explanation, as well as an energetic and emotional one, so we can decide how you are going to make more money!

This week we discuss a 4 step review that will help you identify how you can make more money in your business (4:55) and we also look beyond the business side of things at how important your energy is in creating financial abundance (11:10).

Audio Transcript

Intro (5s):
The Wanderlover podcast was created with a mission to enable travel and freedom through entrepreneurship. I’m your host, Danielle Hu business mentor, content creator, and founder of The Wanderlover tune in every week for episodes about travel online business, social media, and mindset that will inspire you to take massive action towards living the life of your dreams. If you’ve been enjoying The Wanderlover podcast, if you’ve been tuning in and finding inspiration and taking away value, it would mean so much to me. If you could take a second to leave us a review on apple podcasts, I continue to record these episodes for you every single week and take all of your comments and feedback to heart.

Intro (52s):
Thank you guys. So, so much. Waitlists for Wanderlover business academy, 2.0 is now open. I’m revamping my digital course this year, updating all the new social media strategies, incorporating everything I’ve learned from another year of full-time travel and entrepreneurship for online business owners who want to take their impact and income to the next level. If you are a new or aspiring creator or coach currently making less than $5,000 a month, and you want to grow your soul aligned audience work with dream clients, scale upwards. So you can work from anywhere in the world. Sign up for the waitlist and the episode description for a hundred dollars off when we launch next month.

Danielle (1m 36s):
Hello, my loves welcome back to The Wanderlover podcast. It has been four months since rags and I entered Indonesia, which means our business visas expire in two months. So mid December, we need to leave the country. And for the past few days we’ve been looking at future destinations where we can explore a different part of the world and just take our businesses with us. It’s really exciting. I have a feeling. Yeah, I think we kind of decided where we’re going next. It’s not confirmed, but I won’t be sharing it with you until we book flights. I’m just really excited and I hope time and time again, it just shows you how possible it is to work online, work on your own business and travel the world.

Danielle (2m 27s):
So if you aren’t in our Facebook community, yet The Wanderlover community, please go into the episode description and come join us. I will be going live every single week. Last week, I talked all about mindset and what I mean, when I say change your mindset, change your life and going forward, I will be taking all the questions I get from you in the community and recording episodes on them. So this week’s episode, how to make more money in your business was inspired by one of our members who said my biggest motivation for joining this group is that I’m keen to learn how to start earning a living from my brand.

Danielle (3m 13s):
I have all the pieces of the puzzle. I just can’t figure out how to put it all together. And if this is you raise your hands, you are not alone. So many new entrepreneurs are still feeling like they’re throwing spaghetti on the wall, stabbing in the dark, trying to make it all work. There is so much to learn. And a lot of times you feel like nothing is working because you’re not seeing the income in your business, right? This is you. So today I’m going to explain on a technical level, how money flows into your business, and then talk about the energetics and emotions behind making money in your business.

Danielle (3m 57s):
I share this with all my private clients, with my momentum mastermind members. And I’m really excited to share it with you today. So let’s get started first of all, to not over-complicate business. And I feel like so many times people take on more than what they’re ready for in the way beginning. So when you’re first starting out online, when you’re first starting your business, you know, you’re not worried about all of these really complicated funnels on the backend. You’re not worried about having these bells and whistles, lots of moving parts, launches that take a team to execute. You’re probably not going to have a really complicated Facebook ad strategy.

Danielle (4m 42s):
You’re probably not going to have a really complicated Pinterest strategy. And that is okay. Just focus on what can be improved by yourself at this moment in time. So I’m going to go through my four step money flow process and explain how money goes from the hands of your audience into your bank account. So the first category is lead generation, which means how are people finding out about your business? How are you getting your business and message and brand in front of new people every single day?

Danielle (5m 24s):
So this can look like creating reels on Instagram. This can look like creating tick talks. This can look like paid advertising on Google or Facebook. This can look like Pinterest or meeting new people in real life, going to conferences and networking. These are all different types of lead generation. You need to constantly be introducing more and more people to your business every day, second nurture. So how do you get people? Those leads, how do you get them to know like, and trust you? So let’s say you have a hundred new people who find out about your business.

Danielle (6m 8s):
How do they learn more? How do they know who exactly you are and what exactly you offer? And this can look like weekly emails to keep everyone posted on what is happening in your business, what you’re learning, market, industry updates, et cetera. This can look like consistent blog posts and consistent content creation on social media. You need to get people to know like, and trust you so that you can convert them and they will buy from you. Next. The third bucket is you need to have something you’re selling. If you’re not selling anything, how do you expect to get paid?

Danielle (6m 50s):
Last is having a system for closing. So for converting, those leads into clients and customers, and then retaining them and even sometimes making them affiliates. So having them rave about your products, share it with their communities and you get even more leads. And so if you have one in each of these categories, lead generation nurturing product slash service, and then closing and retention, you can have money flowing into your business. Think about a child with a lemonade stand, right?

Danielle (7m 30s):
That’s a business in the simplest terms, you have their stand, you have the product, which is lemonade. You have lead generation, which is people walking past his lemonade stand and then a method to close the transactions. So exchanging lemonade for a quarter. So it’s a, in a very physical sense. And the same thing applies online. If you have your business set up online and no one is seeing it, right, like imagine having, imagine selling lemonade inside of a garage with the garage door close, or just some obscure alleyway where no one’s passing the lemonade stand.

Danielle (8m 12s):
It’s not going to work. You’re not going to convert those leads into customers. So in terms of having one in each category, ask yourself self, assess two, you have methods to continuously improve on every single one of these aspects. So first you have one in each. Do you have a way to generate new leads? Do you have a strategy around that? Do you have a strategy around nurturing those people who enter into your business? Do you have products and services to sell them? And are they the right people to buy? And last but not least, do you have a way for them to pay you?

Danielle (8m 54s):
Do you have the buy now button on your website? Do you have your payment gateways set up with PayPal and Stripe? You need to be making this as seamless and easy as possible so that there’s no confusion, no hesitation in the online space. This money flows into your bank account seamlessly and effortlessly. So for example, at The Wanderlover, lead generation, social media, reals Tech-Talk ads, Pinterest check, nurturing this podcast, right? Having The Wanderlover community, where people really get to know me and ask me questions, check products and services to that audience.

Danielle (9m 37s):
So people trying to start online businesses. We have private coaching. We have masterminds. We have the start, your hustle intensive. We have eBooks. We have The Wanderlover business academy too. That is launching next month. So if you’re not on waitlist, by the way, get on waitlist. I will include it in the episode description. And so products and services check, and last but not least for closing, we have PayPal. We have Stripe. We have buy now book. Now buttons. We have discovery calls set up and we have affiliate programs. So closing check, you are always trying to optimize and improve on every single one of these steps.

Danielle (10m 18s):
And of course I didn’t build this overnight, right? I’m sharing just so you know, maybe get some ideas on what you can try for your business. And ultimately you do not need to have a bunch in each of these steps to close and to make a sale. You can literally meet someone like meet someone traveling, and that’s already a new lead. And let’s say they really open up to you about how they don’t know what their human design is. And maybe you are a human design reader. So that’s already nurturing because you’re getting to know them and you have a service to sell. That’s step three, checked off.

Danielle (11m 0s):
All you have to do is give the payment gateway and that’s money flowing into your business. It does not have to be super complicated. So let’s say you’re listening to this episode and you’re like, yes, Danielle, I have a way to generate leads. I’m posting on Instagram. I have a way to nurture all of my potential clients and customers nurture all of my leads. I have a product or service to sell them. And I have all my payments up and no one’s buying from me. What am I doing wrong? So this is where we go from the technical level into the energetic and emotional level.

Danielle (11m 41s):
Energetically. What comes up for you? When I ask you to self-assess your business? When I ask you things you can be doing better. Are you excited? Are you thinking so many different ideas of how you can improve or do you feel drained? Do you feel unconfident? Do you feel like you’re not worthy of running a successful business and all of these negative emotions come up because if it’s the latter and you are getting frustrated, why is no one buying from me? Why am I not making any money? You’re going to show up in a way that just feels so forced and so inauthentic and repelling all of your audience away from you and going off of that emotionally, are you happy that you get to run this business yourself?

Danielle (12m 33s):
Are you grateful or are you sad that you’re not succeeding as much as other people in your industry are, right? Are you feeling down that you’re not seeing the success you imagined, what emotions are going through for you? When I ask you to self assess your business, this is so important because if you’re not feeling excited to try new things, you’re always going to give an excuse of why something isn’t working. I’ve been in business for years, and there is still so much I need to learn. And so for someone just starting out, if they tell me I’ve tried everything and nothing is working, I can guarantee you that they have not tried everything.

Danielle (13m 18s):
There is it’s impossible, right? That will never happen. And for you to reach a point or you feel so defeated by everything you have tried, we need to change that energetically and emotionally. So we can take productive, constructive action towards making more money. So let me ask you, how are you currently getting leads in your business and how can you increase the number of people who find out about your business on a day-to-day basis? A lot of times people will think that Instagram is a really powerful form of lead generation, but if you’re only posting on stories, right, you’re only going to reach the people who are already following you.

Danielle (14m 1s):
So that’s not really effective if you don’t have a consistent reels strategy and you’re just posting out content once and awhile and not having it consistent, it’s not going to be a consistent marketing strategy. Right. So how can you improve on that? Can you run Facebook ads? Can you look into Pinterest? Can you expand onto a different platform? Think of all the ways and let me know next. How can you get your audience to know like, and trust you? Did you say that you were going to send out emails every two weeks or every week? And you know, you haven’t sent an email out in months.

Danielle (14m 43s):
Well, if that’s the case coming from a consumer perspective or a client perspective, you’re not really going to that connection with the business, right. You’re trying to reach actual human beings on the other side of the screen. So how can you get them to know, like, and trust you more? How can you increase the prices of your services or offer more products and services? So if you’re looking to expand on your product suite and the price points and have a higher cart value for every person that converts, you’re thinking, how can I make this more valuable and increase the price and or how do I offer even more products and services and last but not least, how can I make the checkout process seamless?

Danielle (15m 35s):
How can I make it just so easy for people to buy from me and for people to work with me? So with these four categories, I’m going to repeat them one more time, because there’s so important. One lead generation to nurturing three products and services for closing and for retention, ask yourself, where are you on a scale of one to 10 when it comes to each of these four categories? If you’re not at a 10, which no one is, it’s impossible to really just have every one of these steps out of 10, because there’s always going to be something you can improve on, right? So honestly, if you’re not at a 10, where can you improve?

Danielle (16m 17s):
How can you show up more? How can you learn more? Right? And this is just so important in business to be able to self-assess honestly, with no fluff and no bullshit, no one can care about your business more than you do. So if you’re anything less than a 10, it is up to you to improve and get that number higher. I can’t do it for you. Your community can’t do it for you. Your friends can’t do it for you. It is up to you to catch yourself when you know that you can be doing something better and just choose not to.

Danielle (16m 58s):
Right? So this is like, are you running Facebook ads if not make the money to or learn about it so you can do it yourself, but try that right. Pinterest strategy. Don’t give me a reason why you can’t be on Pinterest right now, because there really is no reason you can’t be. There’s always going to be something that you can be trying. And I know it’s hard. I know in the beginning, when you have your website up, you have your products and services and you feel like you have a business you’re posting on Instagram. And it just seems like the people aren’t buying and you’re not seeing the income and that you’re a failure, but really, it just means you need to keep going and continue.

Danielle (17m 41s):
Improving a post came up on my Facebook the other day from my friend Rinaldo. And he is the founder of Bali media house. And it was just the most inspiring thing ever. So when he first started his media production agency, he sent out and he still does. He sent out a hundred emails per day to local businesses, to new businesses, making that connection and generating those leads. And I think he has like this whiteboard in his office now. And it’s close to 20,000 emails. Think about that. That is someone who cares about their business. And that is someone who was going to get new clients consistently and impact businesses with their work.

Danielle (18m 26s):
They’re going to grow their brand and make money, right? So if you get over your ego, your drama and really start, self-assessing the four categories where you can improve. I guarantee you too will make more money. Remember guys, if you are selling lemonade on a hot day, on a boardwalk at the beach with very thirsty people, walking by, you will see money flowing in. So I hope this episode was helpful. I hope you write down the four categories, give yourself a score of one to 10. Tell me where you are.

Danielle (19m 6s):
And if you need any ideas on how you can get that number closer to a 10, just send me a DM. And I’m more than happy to help you. I will include some links in the episode description, and I hope you all have a fabulous week. See you next time guys.

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