One of the best ways to double your income is to figure out what’s working and doing more of that. Sounds simple enough, doesn’t it? The problem is that you first have to know exactly what’s working and what isn’t. The best way to do that is to track everything. From there you look at your data and make a plan for what you should and shouldn’t be doing going forward.
Your first step will be to decide what you want to track. This will be a little different for everyone depending on your business and what you do on a daily, weekly, and monthly basis. A good place to start is to look at income and expenses, products or different sources of income, and of course where you spend most of your time.
Let’s say you start to track where your income is coming from. If possible, go back and look at the last six to twelve months of financial data. Did you make money selling your own products? Did you get large affiliate commission checks? Did you sell advertising on your websites?
There’s so much you can do on a daily basis to grow your reach and make more sales+ MORE MONEY!! The list seems almost endless, doesn’t it? You could be
- Writing a new blog post
- Making Merch
- Creating a series of podcasts
- Using attraction marketing and posting on various social media platforms
- Writing essays
- Publishing on KDP or print book
The more important question you should be asking yourself is what should you do if doubling your income is your goal? The answer is much simpler and the list much shorter.
It seems very easy but you should focus on just two things. 1)Growing your list and 2)making sales. Does this mean you stop working your day job?? ABSOULUTLY NOT!!
Think of it more as a time managment reallocation so that you can become much more profitable. You could still HAVE TO write that blog post. But the goal of the post would be to either turn the reader into a subscriber, or warm them up for the offer you’re going to email them about in a couple of days. You’ll record that podcast interview, but your main goal will be to convert the podcasters audience into subscribers to your list. Do you see how this works? NO MORE COLD SALES for newbies….cringe
Why is focusing on subscribers and customers so important? Because it takes some time before someone is ready to buy from you. They have to know, like, and trust you first before they hand over their credit card, or log into their PayPal account. That’s why your number one goal when you reach a new audience should always be to get them on your list. That gives you a chance to build a relationship before you make an offer to buy. Of course the benefit of a list doesn’t end there. You also get a chance to make offers for other products. These could be your own, or something you’re promoting as an affiliate. The end result, in either case is more money in your bank account.
A list of subscribers is valuable and something you should always work on growing. There is a saying “The money is in the list”. The only thing more valuable than a regular list of emails is a list of customers. Customers like your product and already trust you.
Add Value to Life
If you deliver a lot of value and help people solve a problem you are on to something. I’ve found that people will pay for VALUE and ease. If you offer one of those things they are more likely than anyone else to buy something else you offer or recommend.
As your business grows you should focus on growing your list of email subscribers and then on converting these people into paying customers. Make that the main goal for everything you do online and you will start to see your income grow.