334. 3 stages of business building & growth

2024-04-17

In today's episode, we're talking about money and how you can think about earning it based on where you are in your business journey. As business owners, this is something we need to think about a lot. We're covering: Understand the three stages of business: building, consolidating and elevating, and asset optimisation. Each stage requires a different approach to earning money and building your brand. In the build stage, get clear on your brand, ideal clients, and pricing. Don't undercharge or work for free,...

In today's episode, we're talking about money and how you can think about earning it based on where you are in your business journey.

As business owners, this is something we need to think about a lot.

We're covering:

Understand the three stages of business: building, consolidating and elevating, and asset optimisation. Each stage requires a different approach to earning money and building your brand.
In the build stage, get clear on your brand, ideal clients, and pricing. Don't undercharge or work for free, even if you're just starting out. Back yourself and charge what you're worth.
When consolidating and elevating, review and cull what's not working, increase your prices, and work with fewer clients at a higher price point. Consider creating monthly recurring revenue through subscriptions, but charge well for it to ensure customer engagement.
At the asset optimisation stage, focus on making your products and services better, refining your sales strategy, and implementing evergreen strategies. Build your brand to magnetise your audience and bring them into your offerings. As a solopreneur, prioritize sales and marketing to generate more revenue and invest back into your business.

If you're a solopreneur, sales and marketing is your role. You need to have a clear strategy to generate more revenue, increase cash flow, and invest back into the business.

So, which stage are you at? Building, consolidating and elevating, or asset optimization?

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