Leaving Money On The Table and how to STOP it in Your Business

Leaving Money On The Table and how to STOP it in Your Business

In today’s video, we’re going to share with you how to
avoid leaving money on the table in your business. Let’s go (music) before we get into the video. If you are new to our channel and like
learning all about how to move your business into a new market
and grow where you’re planted, make sure that you hit that subscribe
button and that notification bell so you don’t miss out on any new
content when it comes out. Leaving money on the table is something
that no business owner wants to do. Make sure that you watch the full video
so that you get our entire process that we use with our mentoring clients to
ensure that they’re not leaving any money on the table with their business. So what is leaving money
on the table even mean? It is a phrase which means that you’re
not getting as much money as you could in business, that you are
forgetting something, that you are leaving something out
that maybe your customer wants, but you’re not offering currently. And this is a real issue as a business
owner who wants to be profitable. So the first step in your process is to
identify what your ideal client wants that you’re currently not offering. The best way to do this is to go back to
your current and past ideal clients and call them, survey them, email them, get really curious about what it is
that maybe they wanted that you didn’t offer, and offer an incentive for answering the
question whether that’s a drawing for a hundred dollar gift
certificate, whether that’s um, a quick Starbucks coffee
card, whatever it may be. Your clients are more likely to answer
those questions if you give them something in return. Step number two in the process is you
want to look at your competition and what they’re doing. So you’re going to go
to their, your competition’s website. You’re going to look through the whole
website, not just their pricing page, not just their galleries page. Sometimes your competition will put things
in weird places that don’t make sense to you or even their ideal clients, but you want to know what
it is they’re offering. Scan through their about me paragraph,
look through their contact page, look on their homepage. Some of that information may be hidden
and they want to go ahead and write that down, take notes on this, and
then once you’ve done that, head to their social media and
check out Facebook, Twitter, check out youtube. Do they have videos that made give you
an insight into what they currently offer or don’t offer for their ideal
clients? Take notes on this. If you currently research your
competition and their offerings, then I want you to write yes in the
comment section below and let me know. So the next step in this whole process
is to compile a list of Information of what you want to do. You’re going to take all of that
information from your research, from what your clients told you from what
you saw your competition doing or not doing, and you’re going
to make a list of it. You’re going to put these suggestions in
a numbered order of what you want to do first, but you’re currently not going to consider
anything else as far as resources or capabilities. It’s literally just a list of
priorities of what you want to do first, second and third and then we’re going to
worry about all the other minutia after you’ve made that list. The next step is to evaluate
what you want to do. Take a look at the list and the priorities
that you’ve made and determine what is financially feasible. Have your clients ask for
you to start doing boudoir, but you don’t currently have a studio
space to do that or maybe you don’t have the finances to rent a dedicated
studio space for yourself. Are there other ways that you
financially could make that happen? Could you co rent a space
together with somebody else? Could you do them out of hotel
rooms that your clients have rented? That’s a determination that you have to
make financially for yourself and where you’re at. But by making this
list of priorities earlier, you can now find ways to make
it work or table it until later. And then you may have on that list
things like for us newborn sessions, we’ve had clients in the past fantastic
brides who have come to us and ask us to shoot newborn sessions. And while it would have made that initial
list of things that our clients were asking for, it’s not
something that I want to do. It’s not something that I’m passionate
about or that I’m really good at. I love babies, I love holding them, but taking pictures of somebody
else’s baby is not my forte. And so that’s something that
I would strike off of that
list and instead I would find a quality newborn photographer
that I could refer out to instead. Lastly, we’ll develop a plan
to implement all of this. Without a plan, you’re less likely to
actually get this done. But you also want to be realistic about
what it is that you’re doing is so easy as a creative to have all these good idea
fairy visits that don’t actually ever come to fruition. So by creating a realistic
time sensitive plan, you are more likely to get these things
done. By having that plan in place, you’re more likely to
actually implement it. The longer you wait to get something done, the less likely it is that it’s actually
going to happen in your business. Developing a plan of action can be
incredibly stressful and incredibly time consuming, but you don’t
have to do this alone. Head to the show notes below to schedule
your own complimentary consultation call with us so that we can help you get
on the right track and quickly moving into creating the action
plan for yourself. Leaving money on the table is just one
small aspect of business growth and education. And so if you need more content just
like this to grow in the market you’re in or the market you want to be in, make sure you head to the playlist
above to get more content, to make more money and
grow your business faster. If you liked this content, then make sure that you hit that subscribe
button and that notification bell so you don’t miss out on any new
content when it comes out. Thank you so much for watching
and I’ll see you next time.

38 thoughts on “Leaving Money On The Table and how to STOP it in Your Business

  1. Yes!! Research and reaching out to past clients is so important. Even when we think we are doing everything we should, so many of us are still leaving money on the table. Great video!

  2. This is great Meredith! really do some digging to find more opportunities. I think alot of these things are often overlooked!

  3. Oooh! This is so good. There is definitely some work that needs to happen on my end for sure. Love the recommendations and going to take action on them today!

  4. Thanks for the video!! Yes!! I definitely check out my competition. The plan is so key!! I have so many ideas that stay out there in my mind if I don’t write them down!! 😇

  5. It's about thinking outside of the box and getting creative for out clients. Thanks for highlighting this way of thinking.

  6. Hi fellow YT boss 🙂 I love the topic because I'd certainly hate to leave money on the table.
    Following and subscribing and cheering you on!


  7. Awesome video. I have not been surveying my past clients, so that is a great idea. And Yes, I am always checking to see what the competition is doing. I find that really helps but I have not made a list so will try this too.

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