Wednesday, December 18, 2019
9 ways to triple your income in the next 6 months
9 ways to triple your income in the next 6 months9 ways to triple your income in the next 6 monthsTina Craig started Bag Snob (now Snob Essentials)with twenty dollars. Thats right, two-zero bucks. Within a month she and her freund Kelly Cook had 480 dollars in revenue a 400% increase.But it can be really scary to strike out on your own. When thosesponsored IG postsarent coming through yet, or your affiliate links arent making you dollars quite yet,a paycheck isnt a guarantee.So we gathered up intel from Create Cultivates speakers this past weekend in Dallas, to find out how to double, triple, or just straight up explode your income in 6 months.Know when to say noMoney may not grow on trees, but even if it did, would we truly be better off?In the beginning of a business the fact that anyone is offering you money can be really exciting, but thats also what makes it slightly dangerous.Lynsey Eaton from Tomboy KCsays If a clients expectations are outrageous, despite a number. Dont take it. Dont be afraid to back out.If you take on a job thats too big, or you know a client has unreasonable demands, this can actually hurt you in the long run, even if youre getting a quick payoff.People in marketing and brand industries talk, so if you do a bad job, it may hurt your chances of being hired by a different company in the future. It you dont perform, it looks bad on your end, not the clients.Dont take money just because its thereFundraising is a big part of any business. As SoulCycle founders told the crowd, Your own sweat equity can take you pretty far, but what happens when you run out and you need that 15 million dollars.But taking money for the sake of having it, doesnt always make sense. Katherine Power of Who What Wear told the audience, Fundraising is the fruchtwein time consuming. Weve been able to show tremendous growth and profitability, but it will take up at least six months of your life where you do nothing else.Deciding however who to take the money from is a whole different strategic game. Power explained It is a game of chess where you try to figure out who to take money from.And what people dont realize is that raising too much capital can also be a problem. The mora money you raise the bigger hurtle youre making for you and your employees to get over.Re-evaluate expensesThere are items you are spending money on, that you dont need to be. Its that simple and you know what they are. Maybe you go six months without a mani/pedi or a morning latte. Maybe you vow to stop shopping until you meet goal X. Brunch with friends? Kiss it goodbye for a minute.There are plenty of social activities that dont require draining your bank account.Beyond that, look at your business expenses.Are you spending a ton of money on arbeitszimmer supplies? Are you spending too much on office rent? Have you put the cart before the horse? Faking it, till you make it is necessary at some points, but if youre not seeing profits, youre not making it.Know when to d elegateThis is one of the hardest things for most CEOs and founders, but delegating and letting go of the reigns so that your employees can thrive in their job will also free up your time to focus on efforts like fundraising.That also means making smart hires. Sakara Life co-founder and Forbes 30 Under 30 Danielle DuBoise said that she doesnt want people who are experts, the ones who come in and already have a plan in their head. What you want are people that love the challenge of growth.Those kind of employees with be happy to work Saturday AMs or answer your emails outside of business hours, and will make it easier for you to feel comfortable handing them control.Re-negotiate contractsThere are jobs you keep that suck up a lot of your time, but only make you pennies on the dollar.At a certain point those trade jobs or good for your resume jobs are no longer worth how much they drag you down. Time is a factor you have to consider.If youre holding onto a job thats preventing you fro m focussing your skills and talents in other useful directions,or if youve been underpaid for a job for too long, ask to renegotiate. This not only shows you where you stand in terms of value to the company, but it will also help you drop the career dead weight.Create a media kitHilary Sloan of Shopstyle touched on the importance of media kits and reaching out to the right brands.She told the audience, You need a media kit to showcase what you do, and what youre best at. If you dont have powerful numbers that wow people. you can use screen shots of content thats wowd people. Think beyond here are my numbers, here are the sales Ive driven. Think of things youve accomplished- and present them in a beautiful way.Pitch yourselfAlong those same lines, you should be pitching yourself, not waiting for brands or jobs to come to you. While you might not have the following or engagement to work with a brand like Kate Spade quite yet, there are just as many up-and-coming brands as there are u p-and-coming businesses like yours. So do the research and pitch yourself to those companies there is money to be made in collaboration.As for how to do it?Genevieve Ascencio from Factory PR had this to sayHow do I like to receive a pitch? Creativity is a huge part of it.Maybe I only have 2k followers, but I have these women who are very engaged. I like to see a deck or one-pager. The ones that are most impressive include cool skills that I dont see on your blog. You would be surprised at what brands are looking for.Beyond that she saidIts not just about the pitch, its about the followup.Stats about the post. We want to see that youre reposting, liking, commenting, showing a level of enthusiasm that makes a brand feel like it wasnt just for a dollar.Caroline of House of Harper follows a three-step methodPreparation- Put in the work so you can be impressive, even if you dont win the pitch that day.Know Your Own Strengths- Figure out what differentiates you from your peersStop and A sk What Their Goals Are- Do they want to grow their Pinterest, or social media, or drive sales?Know so that you can tailor your pitch to them.Know your audienceThere is a lot more to making money than posting cute selfies and running an Instagram account. This may seem obvious, but intention and attention to detail go a long way when it comes to you income in fact, its one of the only things you have to differentiate yourself initially online.Jenna Crandall and Lisa Allen from Lunchpails and Lipstick made this great point Take each follower as an individual and service each and every follower.Someone with 30k followers can be making more money than someone with a million followers if they have better engagement.Kendi of Kendi Everyday told the audience that if she wears an outfit, and the affiliate return is not that great or people arent clicking through, shell rethink that post, and wear the piece again.Dont take the first offerWere going to end this on a piece of sound advice fr om the lawyer of the bunch who knows a thing or two about taking and making deals.What you learn in law school you learn in business, you know whats a good deal for you. Let them worry about them. Let them take care of their deal. No one is going to come to you with their best offer. And if you take that, thats fine. But theyve won.Wise words Lynsey Eaton. Wise.This article was originally published on Create and Cultivate.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.