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How many times have you wanted to invest in a coaching program, but the first thought that entered your mind was, “I don’t have the money”? This is an automatic response that usually has nothing to do with money. It usually has to do with thoughts of lack, scarcity, that there ‘won’t be enough.’

The problem with this scarcity thinking is it prevents you from making decisions and taking required steps that will move you and your business forward, keeping you stuck right where you are, and actually putting you in an even worse position over time.

The truth is you probably do have enough money in your world to invest in yourself (hooray!), and get the coaching, support, and accountability you need to move your business forward.

Here are 10 places to look to find the money you need so you can invest in you, and your business, and achieve your income goals.

1. Business loan

Even though banks aren’t lending business loans as freely as they once did for small business entrepreneurs, some lending organizations are. ACCION is a microloan lender, offering loans ranging from $200 to $25,000, even for start-ups. They also have very flexible payment terms, and will work with you to creatively “go the extra mile” above and what banks will do to finance your loan.

2. Business loan from family and friends

One of the best sources of startup or expansion capital. Think about people in your life who care about you, and want to see you succeed. Reach out to them, and share your business plan.

3. Part-Time Job

Getting a part-time job to fund your dream is nothing to shy away from, or be ashamed of. You’re “doing what it takes” to get the seed money you need to start or grow your business. ALL businesses need investment to start and grow. It is impossible to grow a business without investing money in it. Period.

4. 401ks and other investments

There may be ways to get money out of your 401k to fund your business without suffering a penalty. Do the research, and ask your accountant about the rules. Taking money out of your 401k is an investment in YOU.

5. Create a program and sell it

When I invested in a 5-figure program a few months ago, I was immediately motivated to create a program and get new clients. I can honestly tell you I may not have been as motivated had I NOT invested the money. The result: I created the most money I’d ever created in 5 week’s time—$28,000.

When you invest at a certain level, you can then CHARGE at a higher level immediately.  This is an immediate boost to your fees and income!

6. Low interest credit cards

Credit is not bad if it is managed properly. Low interest credit cards can be a very good way to finance an investment in your business. Again, have a plan to turn your investment into income, and pay back the loan as quickly as possible.

7. Sell your stuff

Do you have things you’re storing away and keeping that can be turned into cash? It’s not uncommon for people to sell old cars, jewelry, and other items on eBay.  You can always create the money for a new “stuff.” You can never get back time wasted and income opportunities lost.

8. Home equity line of credit

If you have equity in your home, this is another option to get the money you need to fund an investment.

9. Streamline your budget

Take a look at your budget, look at your current spending, and decide what can be shifted around. Redirect the money you’re spending to higher priorities, such as investing in yourself.

10. Say “yes” to yourself

Decide to invest in yourself. Once you do, the WAY about how you will make the money to fund your investment will become clear to you. Getting the coaching you need will help you find the way.

Get connected to the TRUE cost of thinking you don’t have the money to invest in yourself.

Time is a non-renewable resource. When it’s gone, it’s gone. Which means when you give in to scarcity-based thinking that you don’t have the money to invest in yourself, you are giving away your dream.

Say “yes” to yourself and create a 6-figure business in 12 months or less.  To inquire about private 1-on-1 coaching with me contact me at http://www.bonitarichter.com/contact.

Many women entrepreneurs have agonizing difficulty ‘asking for the money’ when having a sales conversation with a potential client.   By not asking for a money commitment to enroll in their program, it quickly costs them thousands of dollars in lost income.

Following are actions you can implement immediately to make ‘asking for the money” a graceful activity you will begin to enjoy in your business!

To start, it is vital to get in touch with specific situations you have difficulty asking for the money.  Then, you must become aware of the financial cost of “not getting a handle” on these situations.

Typical areas women have trouble talking about money are:

• Making an offer in a Discovery Session (they freeze when it comes time to state their fees)
• Taking payment immediately over the phone (they wait for a check that never arrives)
• Making an offer to a client currently enrolled with them to invest in additional services (fear of being “pushy” / greedy)
• Asking a client to get current with payments (boundaries issue)
• Making an offer when speaking or training (fear of thinking ‘what other people will think’)

To transform your mindset into one of empowerment when ‘asking for the money,’ look at the list above and choose one situation that repeatedly crops up for you.  You may think of another situation you struggle with, as well.  Write your chosen situation down on a piece of paper.

Now, with your chosen situation, identify what it is you are secretly fear will happen; I’ve listed common reasons below.  Write down the fears that resonate with you:

• Being rejected
• Being judged
• Not being liked
• Losing love / friendship
• Losing business
• Worried what people will think
• Not being approved of
• Other fears

To make a change, you need to get in touch with the cost of not correcting this problem and calculate the financial cost.

To calculate the financial costs do the following simple math:

A. How many clients a month do you typically lose by not ‘asking for the money’ to make a sale?

B. What is the dollar value of each client lost?

C. What is the monthly cost of this situation (Multiply A x B)?

D. What is the yearly cost of this situation (Multiply C x 12 months)

If you’re like many women, you are now picking your jaw up off the floor because this situation is hurting your income BIG time.  And for many, the amount represents more than their entire year’s worth of salary from their business!

For a simple solution to immediately change this situation ask yourself the following questions:

“What if being afraid of the situation noted above were no longer important to me?”  

“What actions would I take?”

These questions are an opportunity for a breakthrough, and begin shifting your mindset around why you must become comfortable, so you feel confidence, ease and grace ‘asking for the money.’

Keep in mind that you are offering a service that has tremendous value to your clients.  By not making an offer to help them, you are depriving them of your gifts, and helping them be more successful.

Do you want to learn strategies how to generate immediate income in your business?  Stay tuned!  I’m excited about a *BRAND NEW* program I’m creating that is ALL about accelerating your income generation.

When I mentor my clients on how to quickly raise their fees 20-50%, one of the very first things we work on is mindset.

A woman’s emotional mindset influences whether she will be able to successfully ASK for higher fees, or if she’ll cave into self-sabotaging limiting beliefs, such as “No one will pay that much,” “I don’t know enough,” “I’ll have to work harder and won’t have a life.”

To ask for higher fees, and GET them, you have to have a to-the-core-of-you belief that YOU are worth it. If you don’t feel this way, you’re prospective clients are going to “tune in” to the shaky vibes you’re emitting.

So, what can you do to embrace a state of mind that you are worth every penny you charge? Here are 3 ways to start:

1. Identify Self-Sabotaging Fears and Beliefs

Bring light to the negative internal dialogue you have with yourself to take the first step toward changing self-sabotaging fears and beliefs. By doing so you’ll identify what is holding you back from achieving your vision and goals.

For the next 1 to 3 days, carry a journal with you and write down any negative thoughts or beliefs about yourself that you say or think about yourself. This is the internal negative self-talk you want to banish. Pick ONE message you frequently have running through your mind and decide to shift it, right now. You’re going to feel so much lighter energetically, and empowered right away!

2. Up-level Your Internal Self-Talk

Now that you’ve chosen a limiting belief or fear to address, you want to collect “proof” that what you keep telling yourself is simply not true. What I want you to do is take that negative thought, and change it into a positive, the complete opposite of the negative thought.

For example, for the limiting belief, “I’m not ready yet,” change it to “I am completely ready right now.” To support this belief, think of legs of a table that can “hold” this belief up. Each of the legs is evidence or proof-positive that the empowering belief is true! Evidence of this belief can be 1) specific training you’ve received, 2) work experiences, 3) degrees/awards, and 4) noting all you’ve done up to this point to prepare.

Support your positive belief, and walk into any fear you feel. I assure you, what you want is on the other side of your fear.

3. Clean Up Your “Money Stuff”

Because you’re working toward up-leveling your fees and attracting higher-paying clients, it’s time to get how you handle money in order, because more of it is going to be flowing to you.

Cleaning up your “money stuff” can be overwhelming, so here’s a simple place to start…

Begin to track EVERY bit of income that comes to you, every day, to the penny. Everything counts, including your partner’s money, interest income, reimbursement checks, stock dividends, and of course all the money you bring in! The reason it all counts is because every bit of it influences your lifestyle, and adds to your net worth.

These three steps are a powerful first step to transform your sense of your own value, and prepare you to allow the flow of greater income into your life. When you value yourself FIRST, others will follow, and you’ll attract higher-paying clients!

How do you know when you are over-giving and self-doubting yourself and your abilities?  And, if you do find yourself over-giving to please, how do you stop?

Over-giving is a common problem with women, because we want to help, provide high value, and be of service.  These are all great things to strive to deliver to our clients.

But, if this desire is rooted in the shadow beliefs of self doubt, “not being good enough,” or fear and insecurity about our talents and knowledge, this over-giving cycle will wreak havoc in our emotional lives.  And, we’ll “give away the farm,” which affects our incomes, too.

Over-giving is a reflection of the “money mirror” of deservability, of being unsure we are doing enough to receive whatever is good we get in our life.

The self-doubt of being deserving shows up in your business as cramming a lot of “stuff” into your packages and programs, giving away extra services (more than what’s paid for) without charging, or making yourself too available (like after-hours or weekend phone calls and emails from demanding clients—and you respond to them).

The recurring theme behind the “money mirror” of being deserving is “never enough”, and the emotional undercurrent is a driving need to please.

No matter how much you give away your time, services, or expertise, somehow it’s never enough. And because what you really want is acknowledgement and acceptance, you’ll bend over backwards to get it. The problem is it’s never enough, creating a vicious cycle of burnout, exhaustion and resentment.

One of the big ironies of the “money mirror” of deservability, is it attracts more deservability.  In other words, you’ll tend to attract clients who take an “it’s not good enough” stance when it comes to your services.  This is a vicious cycle you definitely want to side-step!

The best way to know if you’re over-giving is to do a simple “check in” with your surfacing fears, energy, and state of mind around your work.

Are you working really hard? Is the energy behind “giving more” a genuine desire to create value (which you can do without working yourself into a frenzy and overwhelming your clients).  Or, do you harbor a fear that what you give “isn’t enough,” “isn’t good enough,” or you are fulfilling a driving “need to please?”

Most importantly, check your level of satisfaction and happiness; are you at peace, and feel happy?  Are you deeply satisfied that what you do for your clients IS enough?   If not, it’s time to face up to the reality that you are giving away too much of yourself, at a very high energetic, emotional, and financial cost to you.

My coach’s request of you this week is to try this simple action to stop over-giving:

The next time you find yourself doubting your deservability, or are over-giving, ask yourself, “What is the fear I have that is surfacing?”

Then, give yourself the gifts of acceptance, acknowledgement, and love.  Love of yourself, and knowing you are deserving is much greater and larger than fear and self-doubt.

You are perfect, right now, just as you are.  And, your clients will thrive being in your presence when you claim your true value.

It has been said, “A lean purse is easier to cure, than endure.”

Some people reading this will say, “It’s not that simple to cure a lean purse, especially in these economic times.”

However, feeling abundant, prosperous, and financially serene is easily within your reach. What you must do is change some of your actions and beliefs about money, apply a few principles, and you will attract money flow into your life, and achieve financial serenity.

The Wealthiest Civilization in the World

Do you remember learning about Babylon? Babylon was the wealthiest civilization in the world, and its citizens enjoyed wealth beyond the comprehension of our modern culture.

The poor Babylonian was the exception, because knowledge of the laws of prosperity were available to everyone.

The laws of money were created by the Babylonians over 8,000 years ago, and they are just as true today, as they were back then. They are very simple to understand. The Babylonian path to personal wealth was:

1. Saving regularly
2. Controlling expenditures
3. Living debt-free
4. Prudently investing
5. Protecting wealth from loss
6. Owning property
7. Establishing a future income for old age
8. Increasing the ability to earn money by perseverance

I am sure most, if not all of these concepts are familiar to you.  But, how many of them do you use in your daily life to create abundance, prosperity, and wealth? 

Fatten Thy Purse

The first secret of the Babylonian’s principles for creating wealth was “Start thy purse to fattening.” This was accomplished by taking not less than 10% of all one earned, and keeping it for oneself. This money was kept in a purse worn at one’s waist.

The purpose of the purse wasn’t just to be a place to keep the money; it was also meant to serve as a money magnet. This act endowed the wearer of the purse with financial serenity as it grew fatter. As the purse grew too heavy to carry, some of the money was transferred to a larger chest where it was used to lend money, buy property, and make investments.

Some money was always kept in the purse at one’s waist to be a magnet to more money—the purse was never completely emptied. Creating your own money magnet, or “Babylonian purse,” is a fabulous way to encourage financial serenity.

Financial Serenity vs. Financial Security

What is financial serenity? Financial serenity means never having to worry about money again. In your heart, you must believe you have access to an abundant storehouse of prosperity, and abundance, just waiting for you to claim it as your own. Just like the sun shining ever so bright each day, it is always there waiting for you. All you have to do is believe and understand it is there for you, and it will appear.

Financial security, on the other hand, is having collected enough money so that we never have to worry about not having enough money ever again. For many of us, we have not reached this point, and who knows if we will ever accomplish “having enough.” So, I believe achieving financial serenity is more powerful, satisfying, and life-enriching than seeking financial security. Why not feel good about your situation now, rather than wait a lifetime to save enough money to achieve security?

So, if you wish to attract more prosperity into your life, and become wealthier, consider carrying with you a money magnet. Keep your money magnet close by you so you can see, and have physical evidence of your prosperity, just like the Babylonians did. This money magnet is also yours to keep. It is not money you have set aside in your purse to pay the pizza delivery person.

Money Magnet

A perfect money magnet is a $100 dollar bill that you carry tucked away in your purse. And, it has to be a $100 dollar bill. You’ll be less likely to “break it” and spend it, as you would five $20 dollar bills.

Carry this $100 bill with you, and become aware of the financial serenity and feelings of abundance it brings your way. As you shop in your daily life, mentally see how many things you can buy with this $100 bill. This is an excellent reconditioning tool to teach us abundance has to be present in our minds, first, before it can manifest in our lives.

So, my request of you is to create your very own money magnet. Tuck a $100 dollar bill away in your purse, knowing you carry with you evidence of abundance and prosperity the Universe wishes you to have. Don’t spend this money, except in the case of an emergency. This is your money magnet, and will create financial serenity in your mind.

Knowledge of abundance has to exist in your mind, first, before it will manifest in your life. So, take action and create your money magnet this week. Remember, a lean purse is easier to cure, than endure.

As women entrepreneurs, it is naturally in our hearts to want to help others. That is why many of us start businesses, so we can help others be successful by offering the knowledge, skills and experience we’ve gained.

Unfortunately, as women, we may also have been told while growing up that money isn’t something women or “good girls” talk about, and it is a masculine trait to desire money. This upbringing is part of the money story that many women grew up with, and then subconsciously women push money away, by not allowing it to flow into their life. Examples of how this may show up in our life are by:

• Not charging enough for our services (or giving away too many of our services away for free)
• Harboring feelings of lack of self worth
• Having a fear of alienating someone by earning more money or facing disapproval

By brushing money away, you diminish your power and your ability to help others. An important point to note is you can keep pushing money away, be less successful (or poor) and help a few people. Or, be more successful, richer, and have the power to serve many more people. Which would you like to choose? Helping a few people, or helping many?

Remember, money only amplifies who you are.  It doesn’t take anything away.

Another way to think about how money helps you, help others, is to imagine four concentric circles; one small circle nestled in the middle of three larger circles:

• In the very center circle, or the core, is YOU

• The next largest circle is your FAMILY (whether it bY ’blood’ Or another group of people you consider family)

•  The next largest circle is COMMUNITY

• The next largest circle is the WORLD

You have to earn enough money to take care of yourself, before you can have enough money to begin helping your family, then your community, and then the world. This goes back to my earlier comment that you can either help a few, or help many people. The only way you can help many people is by making sure you are taking care of you, first. Money helps build your power and strength so you may help others with your special gifts and talents.

Having money isn’t being selfish, greedy, or masculine. It is the medium women will use to leverage their feminine power to infuse a loving and graceful spirit into the universe, and help others.

My challenge for you this week is to draw those four concentric circles, which include you, family, community, and the world, and write down how you will help each of those groups when you step into your power of bringing more money into your life.

To learn how to price your services, raise your fees up to 40% or more, gain confidence, and improve your sales skills to increase your income check out my new workshop, okay?

You may not have thought about this before, but the truth is you are programmed to earn a certain amount of money. And, you won’t earn more unless you consciously break through this money barrier.

Many influences have made us this way, the main influences being our family, and society. Most of these influences are born out holding a traditional JOB, and what a person will earn doing a particular job.

The problem is this mindset doesn’t take into consideration the opportunities and rewards that are present for entrepreneurs. The result is many entrepreneurs, subconsciously, are programmed to earn a certain amount of money, and have a hard time rising above this amount.

For example, say you had a job, and the most you ever earned working at this job was $60,000. Once you hit an income level of $60,000 in your own business, most likely you magically become stuck, and can’t seem to get your income to rise higher. This phenomenon occurs because $60,000 is your comfort level, and what you are programmed to earn from previous experience.

It’s important to adopt the mindset of an entrepreneur who is seeking opportunity by investing in a business and planning to create additional income for the risks by being in business. The reason an entrepreneur does this is to create wealth. Otherwise, why be an entrepreneur to earn the same amount of income as when you had a job? The risks aren’t worth it.

So, it’s up to you to consciously reprogram you subconscious, and adopt a mindset to earn more money and become wealthy, which is your birthright by taking the risks of being an entrepreneur.

Following are 3 powerful tips for creating a money mindset to break through into your next level of money and income potential:

Tip #1: Hang around people who make more money than you do

We tend to be like the people we hang around with, so make it a point to spend time with people who are successful, and reaping financial rewards. By spending time with successful people and achievers, you will learn their attitudes and behaviors that contribute to their success, and adopt them for yourself. Pay attention to what they think, read, what organizations they belong to, be introduced to individuals in their network, discuss money with them, learn how they do business, and even consider joining a high-level mastermind group. Get used to hearing “big money numbers” talked about, and you’ll find you’ll become more comfortable with these larger numbers. If you hang around people who cry the financial blues all the time, their influence will only bring you down, and not help you rise. So, think about the type of person you want to connect with, and where you can find them.

Tip #2: Play with larger dollar amounts

What I mean by this is practice saying aloud the dollar amount of the income you want to earn in your business. To start, say aloud the dollar amount you are earning now. How do you feel about this number? Does it make you feel excited, or doesn’t it have any effect on you? Now, double the amount you are earning now. How does this number make you feel? If it has no effect on you, double that number and say it aloud. Keep practicing and playing with saying money amounts aloud until you reach a point where you begin to feel a bit excited, and maybe even uncomfortable with the dollar amount; this is a stretch income level you want to strive to achieve. Any discomfort you feel signals you’ve reached a dollar amount that is outside your comfort zone, and you’re probably pre-programmed to earn an income less than this amount. Your income level will stay stuck here unless you consciously break through this money glass ceiling. So, become aware of this amount, and challenge it frequently, say every 90 days, to keep upward pressure on your income amount.

Tip #3: Break limiting money beliefs

We are a product of our parents, and most likely have inherited their money beliefs—both supporting and limiting. In my work as a coach, I have been surprised at the number of people I’ve worked with who’ve expressed to me feelings that earning more money means they will become greedy, are a “bad person,” or are not worthy of earning more money. Some people have told me they just “want to earn enough to get by.” This is very sad, because their parents didn’t realize they were establishing a money legacy that was limiting their family’s future financial success. Give yourself permission to earn money, create wealth, and be financially successful. Know that by earning more money, this gives you the power to care for yourself, your family, clients, community, and an ever-expanding circle of people who are influenced by your gifts and power. Making more money is easy if you consciously adopt a belief that you are capable, and worthy. The only amount of money you’re limited to making is the amount you decide upon yourself. Follow my money tips, and you’ll find your self-worth and net worth increase!

Watch for details about a workshop I’m leading to help you raise your fees up to 40% AND how to convert 80% of prospects into clients, watch for details soon!

While the last eighteen months may have seemed like you’ve been riding an economic rollercoaster, there’s no better time than now to take control of your cash flow.  Wisely implementing simple strategies will increase how much cash flow you create, as well as how much you keep.

The trick is to take an active role in how you create the cash flow you want.  The truth is there’s plenty of money floating around your market is willing to pay you for your products and services.  This is why I’m sharing with you three simple tips to help you get a handle on your cash flow, so you can sit pretty in the “money driver’s seat.”

1. Where’s the money coming from?

How many income streams do you have in your business?  By looking at this, you may discover there are untapped opportunities for you to offer a wider selection of services, and create a flow of additional income-generating activities.

For example, if you typically offer 1-1 services, now may the time to add a teleclass, a 6-month group coaching program, or begin to offer 1-day intensives.  Doing this leverages knowledge and program materials you’ve already created, and dramatically increases cash flow with very little effort.

2. Raise the value and pricing of what you already offer.

If you haven’t changed your services in a while, then chances are you’re offering something that may seem like “stale bread” to your clients, and to top it off, you’re probably undercharging for these products and services.

One thing you can do is redesign your current offerings to “freshen them up.”  Rename a home study kit, or add new content to update your offerings so they reflect current hot trends.  Doing this will increase perceived value of your offerings, increase desirability and demand…which puts you in a position to charge a higher price.

Everyone wins because your clients get a better package, and you’re increasing your cash flow.

3. Start tracking your income daily.

Every day write down the total amount of money you bring in.  By paying attention to your daily cash flow, you increase your “cash flow awareness,” and when you see a gap, it triggers you to work on collecting cash owed you, or pushes you toward launching a program to generate cash.  By paying positive attention to cash flow, you attract more of it into your life!

Keep your approach to solving cash flow issues simple. Be willing to refocus on what activities you do to make money, and create cash flow.  Be willing to make the simple, but powerful, changes I noted.  Doing so will bring more cash flow into your life easier than you thought possible.

Let me know how these tips work for you, and which tip is your favorite!  Share your tips with our readers by posting on my blog.

You probably dream about increasing your income. Yet, without a solid plan that determines, 1) how much you want to earn, 2) why you want to earn more, and what you will do with it, and 3) your action plan for increasing your income—little forward progress will be made toward achieving your income goal.

By creating a simple three-step income growth strategy, it will be possible for you to embrace the power already within you to increase your income. Follow the three steps I have outlined for you to move you forward on the path to achieving greater money abundance in your life.

1. Are You Thinking BIG Enough?

What is your current annual income level? Are you satisfied with this level? If not, ask yourself how much income you want to earn. Think about this number—what is it?

If the number you determined is less than double your current income level, you probably are not thinking big enough. The reason is that you will not have to make any significant changes in what you are currently doing to earn more money. This number also may not be large enough to motivate you into the powerful action required to increase your income. The predictable result is your income level probably will not change much from where it currently is now.

To move into a higher realm of income potential, you literally have to train your mind to think bigger. The reason is, as a culture, we are accustomed to our income increasing, on average if we have worked for someone else, about 3-5% a year; the typical pay raise for satisfactory performance in a good economic year.

You want to dream up a number that really feels larger to you. If the number you thought of earlier doesn’t get you emotionally excited thinking about it, feeling challenged, or even a bit scared about how you’re going to achieve that income level—then, the number you thought of is not large enough! You want this income number to be a stretch for you so you creatively think of ways to achieve that number.

The challenge I want to put forth to you is to think about doubling your income in the next year. This number may seem impossible, but I assure you, it is not. You can accomplish this goal by breaking this amount down into four 90-day periods. This means you will be increasing your income a minimum of 25% over the next 90 days, from what it currently is now.

Action Step: Think of an annual income amount that is at least double what you are currently earning. Write this amount down on a piece of paper. Now, take the number you wrote down and divide it by four.

For example, if the annual amount you wrote down was $100,000, dividing by four equals $25,000. This number is your 90-day income goal. You are on the path to doubling your income in one year!

2. Why Do You Want to Earn More?

Why do you want to earn more? What will you do with this money? Will you invest in your retirement, pay off debt, or invest in your children’s college education? The money “why” aligns your passions with your efforts. In order to take the steps you need to increase your income, you need to feel an emotional charge for the reason—or the “why.” This becomes a powerful motivator to do what activities you must do to increase your income.

Action Step: Write down one money “why” you want to increase your income. Feel passionate about this reason, and what you will do with more money in your life.

3. Create a Plan to Increase Your Income

You have tapped into your new income amount and your money “why.” Now you need a plan about how you will achieve your income goal. Start thinking creatively about the programs and services you will offer, develop a promotional strategy, and get selling! Be creative about what you can do to generate this income. Again, you are thinking in a 90-day timeframe about the activities and tasks you must do to create this income.

Action Step: Write down every single program, product, and service you will sell or launch in the next 90 days. Include the quantity and dollar amounts of each item. Make sure the dollars you plan to generate equals your 90-day income goal in the first step.

This simple three-step income growth strategy works wonders to help you pay mindful attention to your money goals, and creatively kicks you into action to double your income in the next 365 days.

Do you feel your business is just “sputtering along,” and not gathering the steam you’d like to fuel it’s growth?

If this is true for you, designing a profitable business model includes some key components and lead generation activities you may be missing.

A business model is simply what activities you do to make money in your business. Missing just one major element jeopardizes the ability of your business to achieve the income results you desire. The good news is a viable, profitable business model isn’t hard to create. I have clients who’ve used the same tips I’m about to share with you to grow their own businesses into multi-6-figure empires.

Following are some quick ideas and tips you can use to compare your current business model and lead generation activities. If you find you have some gaps in your money-making plan, simply apply the following ideas, and you’ll be on your way to creating a better performing business:

Define Your Business Model

• Decide on three core ways you will be paid for your topic, such as through teleseminars, workshops/retreats, and coaching programs.
• Decide what percent of your income will come from each of these three core activities.

Identify Your Signature System

• Create a signature system; be known for something (such as how to help others make more money in their service business, or how to create a brand identity).
• Think about steps you take a client through to achieve a result; this is your signature system.
• What are your clients repeatedly asking for? This could be your new information product.

Create Your Profit Pyramid

• Create a profit pyramid for each product and service your offer; include a minimum three levels, at three different price points.
• Example: the first level will be your free gift, the second level will be an eBook or home study system, and the third level is your “big ticket” item.

Create Your Website, eZine, and Blog

• Be sure you can collect the names and email addresses of people who visit your website. These people are warm leads.
• Start publishing an eZine so you can keep in touch with your prospects, develop a relationship with them, and eventually promote and sell to them.
• Start a blog. Google loves the contemporary nature of blogs, which will help with your Google ranking.
• A blog gives your readers a chance to respond to you, comment and hold conversations with each other, which in turn builds relationships and strengthen the bonds of your “tribe“ or followers.

Build Your List

• Leverage your list-building activities. Think about how you will connect with the most people, with the least effort.
• List-build in any number of ways, which may include; offering free teleseminars; be a guest on other peoples’ teleseminars; offer a free special give-a-way, such as a bundle of your articles, templates, etc.; launch a direct mail campaign; advertise; use Pay-Per-Click campaigns; and get a strong business referral network working for you.
• Also consider public speaking, press releases, and social networking.

Develop Your Customer Service Strategy

• How will you create raving fans? Think about what would delight them, offer it, and reward them for buying your products and services.
• Read Raving Fans: A Revolutionary Approach to Customer Service, by Ken Blanchard and Sheldon Bowles

Use the tips above to increase momentum, and fast-forward you toward creating a profitable business model that’ll help you achieve the income goals you desire. To learn about more tips, templates, and checklists how to create a recipe for marketing success visit www.bonitarichter.com/7-step/.