12 Ways to Make More Money Next Year

You’re looking ahead to 2018 and setting your goals, and I’m willing to bet that how to make more money is on that list.

As a Small Business Boss, it’s not like that’s your only goal, but there’s not a single thing wrong with that goal either.

You started a business for a lot of reasons including needing to make a living, so there are no apologies for a money-driven goal around here.

But in a world of “six figures in six seconds” success stories, it can be a challenge to nail down how to make more money in a way that’s aligned with who you are as a person and isn’t sleazy or downright icky. {So if you’re looking for some way to make more money quick, ethics be damned, then this is NOT the post for you!}

No matter what point you’re at in your services business, there’s a lot of different ways for you to make more money without selling out, or needing to double the time or effort you put into your business.

Here are 12 proven ways to make more money in your business in the coming year:

#1. Stay in Touch

Adopt a “once my client, always my client” approach to things and make a point of nurturing your relationships with past clients.

This does take some effort, but keep up with them on social media, reach out to them periodically by email, and generally stay in touch. Always be looking for ways to add value and be helpful.

Doing this means you’re continuing the relationship and reminding them that you’re available for any future services they may need.

#2. Upsell Your Existing Clients

I’m sure you’ve heard the statistic many, many times about how it costs more to acquire a new customer than to engage with an existing one. This is the exact reason why you want to look at how you can do more business with your existing clients.

This isn’t about being pushy, but rather spotting opportunities where you can expand on an existing relationship or provide additional services for a client. It’s easy to shy away from offering to help, but tuning into these opportunities can make a massive difference on your bottom line.

#3. Ask for Referrals

For our agency, the majority of our retainer and project clients come to us via referrals, and this is the truth for most services businesses. That’s why you want to enlist your army of happy clients to do your marketing for you.

But you have to ask and not just leave getting referrals to chance. Creating a referral process in your business will enable you to focus on where you’re most likely to get clients.

#4. Raise Your Rates

Hands down the fastest way to make more money is to raise your rates. Now, you definitely shouldn’t do this willy-nilly, but look at the last time your retainer or ongoing clients had a rate increase. If it’s been a while or your role has evolved or changed, it’s a good time for you to increase your rates.

If you offer packages, look at what packages you’re easily booking and then step up the price. Remember, even small price increases add up over the course of a quarter or a year.

#5. Seek Out Collaborators

When you offer services, there are always other related or complementary services that your clients will need. If you haven’t done so already, take the time to cultivate a network of other service providers that you can recommend and refer business to and vice versa.

This is actually how Maggie and I started working together as we had clients who needed each other’s services and that turned out pretty great!

#6. Create a Signature Service

If you’ve been in business for a while and already have packages, it may be time for you to create a signature service. Hands down, creating a productized, repeatable service that you can become known for will help you make more money from your services.

Not sure where to start? Consider what process or approach that you use as part of your client work that you can systematize and include as your “secret sauce” in your packages.

#7. Launch Your Services

Launches aren’t just for programs or courses, they work for services too. Consider launching your services or packages throughout the year to generate interest.

The same way you’d do this with a program, consider how you can add value to make the offer more appealing. It may be with a special price, an extra bonus or something else.

Your launch can be done by email, social media or even one-to-one research.

#8. Create a Client Booking Funnel

With a services business, you may want to think a bit differently about how you approach your email marketing. The goal with services doesn’t need to be a massive email list as you’ve got limited capacity.

Where email marketing can be compelling is by leveraging your opt-in and the accompanying funnel as a way to generate new leads and qualify potential clients. Instead of having subscribers sign up and then just leaving them on your list, create a client booking funnel where people can learn more and raise their hand if they’re interested in working with you.

#9. Communicate Consistently

From blogging to email to social media, you’re likely doing some type of marketing around your business. Just “doing” this isn’t enough. To create confidence in what you have to offer, you need to communicate consistently.

Nothing breeds trust faster than showing up week in, week out with consistent communication. That may be sending an email to your list like clockwork or blogging twice a month. Schedule your communications and carve out time to make it happen each week.

#10. Get Visible 

Fact: no one can do business with you if they don’t know you exist. I know, you may have just rolled your eyes, but I personally know this one all too well. When you work with clients, it’s easy to hide behind your laptop.

Getting visible can be done in many different ways and you can choose what best suits your business and personal needs. If you’re committed to growing your business, you need to push yourself out of your comfort zone to make visibility a priority.

#11. Become Active In Communities

No business owner is an island, so get connected with other business owners for support, cheerleading and more! There’s no reason, with the amazing range of communities on Facebook, LinkedIn, and other networks, that you need to go it alone.

Seek out communities that are not just where people like you are, but where your would-be clients hang out. It’s always better to be the only “one” in a group than one in a sea of people doing the same thing you do.

#12. Network Locally

Gasp, yes, in-person, local networking is still a thing, even if you run an online business! And even if you live in a small town like I do.

As amazing as being online is, never underestimate how impactful face-to-face connections can be. Look for what business (or other) opportunities are available and commit to giving some of them a whirl. You may find a client, a new business BFF or at least get out of your house for a bit.

Get Ready to Make More Money

Implementing one or even two of these ideas in your business can go a long way. Pick a couple to get started and build them into your plan as you work to grow your business and make more money in the next year.