Are you a service-based entrepreneur looking to make more money in your small business? Do you want to grow your business quickly without working harder or longer hours? Is your aim (or dream) to make a lot of money (i.e. £50k p/a or more) in your business?
Then I have great news for you – I can help you turn your best business ideas into goals. Wondering how? Together, we can work on your mindset and your business, so you can become more confident, gain better clients, and earn more money.
Don’t believe me? Let me break down the 5 key steps (or 5 P’s, as I call them) of my 3-month Client Attraction Coaching Programme, so I can show you exactly how I’ve helped service-based business owners just like you to earn more money in their business.
The 5 P’s
If you’re not making the money you’d like to make in your business, maybe it’s because you’re not reaching the people you want to reach. In other words, you’re not attracting the right type of clients – those who see the value of what you do and are prepared to pay your prices, no questions asked.
Truth is, as I always tell my existing coaching clients, if you want to be booked solid, you need a solid foundation. And the only way to work with the right type of clients and be able to charge the premium rates you deserve to charge is to be seen as an expert in your field.
So how do you become an expert in your field?
Here are the 5 key areas (or P’s) you need to work on if you want to be seen as the to-go person in your niche, so you can get more of the dream clients you want to work with.
Let’s break them all down one by one.
The first P is for Person, or, as I like to call it – the Ideal Client Generator. This first step in the process is about finding out who your ideal client is because it all starts with the people you serve!
So ask yourself:
- Who do you serve?
- What are your ideal clients’ goals and values?
- What do they want or aspire to the most?
You may have done this work before if you’ve been in business for a while. But it never hurts to revisit the information and ideas you hold about your ideal clients. In fact, if you’ve been running your business for any number of months or years, you’ll probably have a better view of the clients who light you up and those who drain your energy.
If you’ve experienced this, don’t think that working with the wrong clients has been time wasted – it’s probably taught you a lot about the type of work you want to do and who you want to do it with (and the type of work you’re not interested in!). So take some time to reflect on your previous experiences (if you have any) and learn from them.
Plus, your business might have shifted, you might have learnt and changed, or the world around you might now be a different place, as it’s the case for many of us. So even if you’ve done this piece of work before, it’s always worth reviewing. You can refine, change, and adapt your definition of the ideal client at any stage of your business journey.
Equally, if you’ve never done this work before – don’t worry. It’s never too late to do this exercise! Choose ideal clients who inspire you and energise you. Develop your own ‘red velvet rope policy’ that only allows the most ideal clients in – the ones that are right for you and you want to work with.
Top tip: In order to avoid being ignored in a crowded market you have to be clear on your target market!
The second P stands for the problem. This is about focusing on finding the pain points and challenges that your ideal clients are experiencing and facing. It’s only when you’re 100% clear on those that you can work out exactly how you’re going to help them.
So ask yourself:
- What is the biggest issue your ideal clients are facing right now?
- What would they like to change?
- And what problem(s) do they need solving?
Spend some time answering these questions and then focus on how working with you is the solution to their problems.
Top tip: When thinking about those sticky pain points, it’s a good idea to focus on solving a problem that is urgent and pressing for your ideal clients. If we see something as a nice-to-have, we tend to hesitate and procrastinate when it’s time to take action and make decisions.
It’s your job, as the business owner, to show your prospective clients why they need to solve their problem(s) and why they need to do it now. How will working with you save them time or money, for example? Why should this particular problem be addressed as a priority? Remember that, right now, your ideal clients might not even be aware of the fact they have something to fix. So tell them!
The third P is all about positioning. This is where you’ll need to craft your expert elevator pitch.
So ask yourself:
- How will you talk about what you do so that your ideal clients can see clearly and quickly that you are the expert in your field?
- How will you position yourself as the go-to person in your industry/field/niche?
- Why should they choose you over any of your competitors? What makes you different? What’s your USP?
It’s important to spend some time thinking about this and getting it right because, as you know, people’s first impressions matter, and you may not have someone’s attention for long. I use the term ‘elevator pitch’ in the loose sense – it’s not necessarily something you have to be able to say in 30 seconds or less (although sometimes you will be in situations where you have to explain what you do in 30 seconds or less!).
But what matters is that you’re able to articulate what you do in 3-4 sentences. Once you have your elevator pitch, you’ll be able to use it (or variations of it) in everything you do – your website copy, your social media content, your networking meetings, your sales calls, and more.
Remember – you only have one chance to make that all-important first impression, and you don’t have a huge amount of time to do it! Realistically, people make up their mind about you in the first few minutes of meeting you.
Top tip: People want specialists, not generalists. So really focus on what you do and how.
The fourth P stands for the product. Or what I like to call your Specific Solution Strategy. And I’m not referring exclusively to physical products here – far from it. I use this term to include services too.
So ask yourself:
- What exactly are you going to sell? What do you want your customers to buy?
- Also, what promises are you making to your ideal clients? And what are the results you can get for them?
- How will you measure success?
Top tip: Don’t forget to consider and capitalise on your professional experience here and make sure your products or services solve a specific need that your ideal clients have.
And last but not least, the fifth P and step of the process is all about profit. You can’t earn extra and increase profits in your business unless you increase sales. And in order to do that, you need to be absolutely clear on how much you want to make based on how long you want to work, how many clients you want to serve, etc.
So ask yourself:
- How many hours do you want to work? Will you work full-time or part-time?
- How many weeks off will you be taking across the year? Do you want to consistently have spare time to enjoy your evenings and weekends?
- And how many clients would you like to work with on a weekly/monthly basis?
If you want more detailed information on this, you might be interested in reading my articles:
The work you’ve done on the previous 4 steps – and the clarity you’ve obtained from the exercises – won’t give you any results unless you translate what you’ve learnt into a plan. It’s important to take action, so map out exactly how you’ll be making the money you want to make and allocate clear timelines and deadlines.
Top tip: In order to escape overwhelm, uncertainty, and procrastination, create a specific 90-day action plan to help you achieve your goals, and, in particular, your monetary goals.
Would you like some help to make more money in your business?
If you’d like some help so you can start working with the right type of clients and earn more money in your business, get in touch and ask me about my 3-month coaching programme for service-based small business owners just like you: Client Attraction Programme – More clients. More confidence. More money. We will look at the 5 P’s together to see how they apply to your business so you can achieve the goals that are important to you.
If you think this might be for you, get in touch for a FREE 30-minute consultation.
So what will you do in the next 90 days to get more high-paying clients?