How entrepreneurs can make a consistent $10,000 a month in their business
Does making $10,000 a month in your business sound outrageous? It’s not.
Years ago, I co-founded a marketing firm that quickly grew to a multi-million dollar level. We were awarded five times as a Fastest-Growing Company by the Portland Business Journal.
We got there through hard work, learning tough lessons, and honing in on our bread-and-butter Signature Packages, and client retention.
When I meet with new clients today, I usually hear some form of the same message I heard from the CEOs, business owners and leadership teams our firm worked with years ago:
“There aren’t enough hours in the day to do what I want to do.”
“I’m already burning the midnight oil, so how do I take on more work and grow my income?”
Or, simply put…
“My business needs to make more money.”
But in order to bring home the bacon, something’s got to change, right?
The problem for many entrepreneurs is, the time it takes to get to a six- or seven-figure income level feels out of reach.
Or they don’t know where to begin.
Or they feel overwhelmed by all of the marketing options.
Here’s the loop lots of my clients have found themselves in (tell me if it sounds familiar):
- You’re (under) charging hourly for your services — so if you’re not working for a client, you’re not getting paid.
- Because you’re working so many hours for your clients, there’s little or no time left over to focus on business growth and marketing.
- Because there’s no time to focus on business growth, you’re stuck charging the same hourly rate to clients.
It’s a hamster wheel way of operating, and it’s keeping you from realizing your business’s potential for earning.
How to shift your paradigm to start making $10,000 each month in your business
Here are the tried and true rules for bringing in $10,000 a month with your business as an entrepreneur.
They’re the same rules we lived by years ago when starting our marketing firm, and they’re the same rules I pass along to clients looking to take their business (and quality of life) to a new level.
Hop off the hamster wheel, and read on!
1. Don’t Trade Time For Dollars
Rather than charging hourly for your services, create packages that focus on outcomes.
And not just any outcomes.
You need a process that will get your clients from where they are now to where they want to be – a Signature Package that is transformative (and it’s the same whether you are helping businesses or consumers).
I can’t stress enough the importance of developing premium packages that attract high-end, high-paying clients.
To do this, you must first determine the pain points your clients are struggling with and how you can provide the solutions to alleviate their pain.
The amount you can charge for a service depends on the perceived value of your solutions.
If what you’re offering is priceless for your clients (piece of mind, good health, steady income, happy relationships, etc.), they are going to be more than willing to pay a premium price for you to deliver those results.
Remember, people don’t buy services – they buy valuable outcomes.
It’s up to you to tell your clients what you can provide to solve their problems, and what it’s worth.
Want to read more about developing high-value packages? Check out The Surprising Reason You Should Charge a Premium Price for Your Services
2. Create Signature Packages Based On What Your Clients Want and Need
I repeat: based on what your clients want and need, not on what you think they want and need.
This is where research comes in.
Do your due diligence, and spend time getting to know your audience and what makes them tick.
What are their challenges?
Their pain points?
Likewise, what are their wants, hopes, and goals?
These are your peeps – get to know them intimately! And then test, test, test.
Test your lead generation system. If your packages aren’t selling, find out why.
Review your client retention strategies. If your clients aren’t coming back for more, learn the reason (i.e. ask them).
And then — this is the important part — pivot.
Do your market research, ask your current clients what they want to see added to your services, and then create Signature Packages based on what the data (and your clients) tell you.
Your Signature Packages should be based on creating value and big results for your clients, and you need to have a proprietary process for taking them through your system.
3. Focus on Your Super Power
What’s the one thing that you do best, better than anyone in your field? I call this your Super Power.
This is what you are going to charge premium prices for.
This is your core focus and this what you offer clients – total mastery and knowledge of a super-valuable, results-driven transformation in their business or lives.
For example, let’s say you’re a web developer who specializes in building websites for a certain industry or niche, and you have the tools, experience, and connections to slay it in that field.
Sure, you can create websites for other niches, too, but your Super Power is creating the best __________________ websites around (<– fill in the blank).
Your competition might just say, “Sure, I can build a website for you. What pages do you think you need?”
They are operating as order-takers, not experts.
In contrast, you’re saying, “This is my specialty. It’s what I do. I’m the authority.”
With your Super Power, you can assure your clients that you know their industry inside and out, you have a proven process, and you can deliver the content they need to make darn sure their website is the best, highest-converting website around.
You’re telling them confidently, “With my Signature System, I’m going to ensure the website we build for you will transform your marketing and sales process, and meet your lead-generation goals.”
Which web developer would you pay more for?
4. Create an Automated System of Attracting New Clients
This is a big time-saver.
Develop a system for attracting new leads, and put that baby on auto-pilot.
While you’re busy running your business, you don’t have time to talk to every lead that may or may not be a good fit for your business.
So instead, give them a preview of what you have to offer, and let them decide whether or not they’re seriously thinking about pursuing your services.
A great way of doing this: put together a webinar or free PDF to give them a feel for what you have to offer.
Solve a few of their problems free-of-charge to give them a taste of your expertise and get them hooked on your unique approach.
And now that you’ve delivered a few results in advance, remind them it’s only the tip of the iceberg.
If they really want to dive in and make a change, they’re going need to invest in their time and your services.
By filtering potential clients through an automated system first, you’re saving yourself time in the long run.
Rather than spending 30 minutes on an intro call with every person who comes knocking at your door, you’re instead sending them through your carefully-crafted funnel.
Once they get to you for an intro session, they’re already pre-sold. Your sales conversations become incredibly easy.
5. Use Premium Pricing to Meet Your Income Goals
Do the math.
How many different services do you need to currently sell to reach your monthly goals?
How many hours will that take you?
Do your current services by the hour get you where you need to be?
If not, how can you create value-based, premium-priced Signature Package to bump up your pricing?
Remember, don’t trade time with dollars.
Instead, focus on the additional value your Signature Packages can offer.
Then price them at $3K to $10K.
For example, let’s say you’re a graphic designer.
Rather than charging $350 for a logo, instead you create a “Platinum Branding Package” for businesses that need a new logo or a redesign.
(I’m sure you can come up with a more creative name!)
This package can include print materials, business cards, digital stationery, several formats and iterations of the logo (black and white, horizontal, round, etc.), and a custom branding guide.
You’ve now created a Signature Package that can easily be priced higher, and delivers a whole lotta value to your client who wouldn’t know how to do all those things on their own (or know they even needed to do them in the first place!).
Again, do your research, focus on value, and determine what you need to charge in order to meet your income goals.
Get Yourself into the $10K Mindset…
Ready to take action and start bringing in a consistent $10,000 every single month? Good.
Even if you’ve only sold low-dollar services before and are totally unknown in your field, there are tweaks you can make right now to take your business from average (or below) to rock-solid amazing.
Stop wasting time with content that under delivers, and instead start churning out high-value, premium-priced Signature Packages that save you time and headache, while bringing in $10K+ for your business each month.
My clients only need to sell one or two packages to hit their $10K monthly goal.
If you’re serious about getting started, join my free masterclass where we deep dive into the strategies my clients are using right now to attract premium accounts.
Or, book a free strategy session with me and let’s talk about how I can help you create new offers and get the high-end clients (and income) you’ve been dreaming of.