When it comes to creating sustainable cash flow in your business there are different strategies that you can use as well as 2 types of revenue you can plan on building in your business.
At the end of the day you want to create as much consistent income as you can and having different ways of getting it can make a big difference in your business.
Slow and steady cash
I think of slow and steady cash as delayed gratification. Slow cash can be things like a membership or subscription model that brings in reoccurring revenue. It could be little and often but it could add up to a lot. For example, if you have someone paying you $97 a month that's great, but if you have 100 people paying you $97 a month then that adds up to a lot.
Creating lower-priced products that might be on evergreen - which means that they can be bought all the time and just having those in the marketing mix of the things you talk about on a regular basis, having funnels on your website from opt-ins to those products or even running SLO - self-liquidating offers to them through ads.
It's about asking yourself the question - is there a way for me to get consistent reoccurring revenue? It could be through retainer clients as well or I've seen photographers who have subscription models.
I was coaching a client this week on potentially have a VIP day subscription option for clients who need a quarterly outcome that she provides.
I always talk about getting creative in your business and this is a great thing to think about and it's something that you can build up over time - years!
2. Fast cash
Now let's talk about fast cash.
Fast cash can look like - VIP Days, Pay in Full offers, Launches, and special offers. It's times when you may get a windfall or a larger amount of money in one go.
So planning out your calendar for these times can work really well from a cash flower perspective.
I plan out my 12-month calendar at the beginning of every year looking at launch dates, events, retreats, End of financial year offers that I may want to share.
You can also just get creative every quarter to think about what you could do to bring fast cash in. Is there an offer you can make based on an existing service that you offer?
If you want to learn how to manage your money and build creative offers that work with the market then be sure to check out the Bold Business Academy!
Today I'm chatting with Lisa Kalms about growing your business with events.
Lisa's a fun-loving, professional event & marketing expert who loves nothing more than showing clients how a strategic event campaign can help them connect with their audience in a way like no other.
After 15 years working in the corporate world in marketing, events and business development, Lisa decided in early 2021 to branch out on her own and start The Blonde Campaign - her own business supporting local businesses to connect with their audiences through highly engaging, impactful events.
Lisa ties in all her experiences in marketing, event management and business development to help businesses deliver strategic events that not only elevate their brands and products, but also help them to build strong relationships with their communities.
In this episode we talk about:
How to grow your business with events
Why events are so impactful
and so much more!
Be sure to connect with Lisa through the links below.
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