April 3, 2023
3 Reasons you’re not making more money in your service-based business(and what to do about it)

Welcome to today's blog post, where we're going to dive into the topic of making more money in your service-based business. I'm Laura Catella, your professor for Mindset Mastery Class, and I'm thrilled to have you here with me. Today, I have an ambitious goal - to teach you more about making money as a service provider in the next hour than you've learned in the past 10 years of your life. That's right, I'm shooting for the stars. But before we get into the strategies, I want to remind you that this is week 10 of our journey together. Everything we discuss today builds upon the foundation we've already laid, including tackling procrastination, self-doubt, worthiness issues, shiny object syndrome, and feeling overwhelmed. Without the proper mindset and tools to overcome these obstacles, the tactics I'll share today won't be as effective. So let's get started and uncover the three reasons why you're not making more money in your service-based business, and what you can do about it.

(To access the free training video on this topic and future ones, sign up here.)

Three Reasons Why You're Not Making Enough Money in Your Service Providing Business

As a service provider, it's not uncommon to find yourself struggling to make the amount of money you desire. You may be doing all the right things, implementing all the tactics you've learned, but still not seeing the results you want. In this section, we'll explore three reasons why you might not be making as much money in your service providing business as you'd like.

  1. You're not charging enough

One of the biggest mistakes service providers make is not charging enough for their services. Perhaps you're afraid of pricing yourself out of the market or you don't want to seem too expensive. However, charging too little can actually harm your business in the long run. Not only does it make it harder for you to make a living, but it can also devalue your services in the eyes of potential clients.

  1. You're not marketing effectively

Even if you have a great service to offer, if you're not marketing it effectively, potential clients won't know about it. This can lead to a lack of clients and ultimately, a lack of income. Marketing isn't just about posting on social media or sending out emails. It's about understanding your target audience, knowing where they spend their time, and creating a message that resonates with them.

  1. You're not providing enough value

In today's competitive market, it's not enough to simply provide a service. You need to provide value that goes above and beyond your client's expectations. If you're not delivering value, your clients will be less likely to return or refer others to you. Take a look at your service and think about how you can provide more value to your clients. Perhaps it's through personalized attention, additional resources, or going the extra mile to ensure their satisfaction.

Making money as a service provider can be challenging, but by addressing these three common issues, you can start to see the results you desire. Remember, it's not just about implementing tactics or working harder, it's about understanding what's holding you back and taking action to overcome those obstacles. By doing so, you can take your service providing business to the next level and achieve the financial success you've been striving for.

(To access the free training video on this topic and future ones, sign up here.)

Why Inbound Marketing is Key to Success in Service-Based Business

As a service-based business owner, you understand the importance of landing clients. But how do you go about doing it? Many people turn to cold pitching and cold solicitation as a means to get their foot in the door, but is that really the most effective approach? In this post, we'll explore why inbound marketing is the key to success in service-based business, and how to achieve it.

Let's start by addressing the elephant in the room: cold pitching. While it may work for some, it's not the most effective way to land clients. In fact, it can be a waste of time and effort, particularly when you're sending emails to inboxes that will never respond. Instead, focus your efforts on creating inbound pipes so that ideal clients can find their way to you.

Inbound marketing is the key to success in service-based business. Rather than relying on cold pitching and solicitation, focus your efforts on creating inbound pipes so that ideal clients can find their way to you. The key to achieving this is through consistent posting and providing value to your audience. Set a process-oriented goal and focus on posting regularly and sharing valuable information, and watch your client base grow.

Posting is Key

One of the biggest reasons why service-based business owners struggle to make as much money as they want is because they're not posting enough. Even if you feel like you're constantly putting yourself out there, chances are most people are flipping past your posts without reading them. The goal is to post so consistently that your flag is planted and people understand that if they need a particular service, you're the person to go to.

Consistency is the key here. You need to post regularly, even if you feel like you're repeating yourself. Repetition is key to getting your message across, and people need to hear things more than once before they really sink in.

One of the reasons why service-based business owners don't post enough is because they're afraid of rejection, crickets, and hate. It's important to remember that not everyone is going to engage with your posts, particularly the most sophisticated buyers. Engagement is not always the metric to focus on. Instead, focus on getting those buyers to take action and start working with you.

Set a Process-Oriented Goal

To ensure that you're posting consistently, it's important to set a process-oriented goal. This means setting a goal that you can control the outcome of. For example, "I will post every day." Make it a priority to post consistently, whether that means daily, three times a week, or whatever works for you. It's important to consider where to post and what to say. Social media is a great place to start, but don't limit yourself to just one platform. Consider where your ideal clients are hanging out and focus your efforts there.

When it comes to what to say, focus on providing value. Share your expertise, answer questions, and offer tips and advice. The more value you provide, the more likely people are to engage with your posts and eventually become clients.

(To access the free training video on this topic and future ones, sign up here.)

The Two-Week High Ticket Sprint Program

Do you struggle to close high ticket clients? Are you looking for a way to double your investment in your course? Look no further than the Two-Week High Ticket Sprint program. In this program, we'll take a real look back at the data of what you have done and what has worked for you. By analyzing the data, you'll be able to make informed decisions based on evidence, rather than relying on your feelings.

Creating a Simple Chart of Your Assets

To get started, it's important to take inventory of all your assets. These assets aren't just your personal email lists and social media accounts. You also need to identify relevant groups where your target market hangs out. For example, if you provide landscaping services, where are your local clients hanging out? What is the next door community where they're all hanging out? What are the Facebook groups for people who live in that neighborhood? Once you've identified these assets, you can begin to populate a simple chart to track where you're going to post your content.

When it comes to commenting, it's important to get involved in the conversation. But too often, we let our biases and insecurities get in the way. That's why I encourage you not to read the comments first. Instead, jump right in and share your answer or ask a deeper question. By contributing to the conversation, you'll be one step closer to reaching your process-oriented goal of contributing every day.

Defining the Terrain and Planting the Flag

If you're not generating as much as a service provider as you'd like, it might be because you haven't defined your terrain or planted your flag. Without a clear idea of who you're serving and what makes you unique, you'll struggle to stand out from the crowd. So, take some time to define your terrain and identify your unique blend of experience, perspective, and desire to serve. Then, make sure you're shouting it from the rooftops so that your potential clients know exactly who you are and what you have to offer.

Crafting Your Sentence

To help you define your terrain and communicate your value proposition, try crafting a simple sentence. This sentence should follow the format "If somebody [has a problem], you [are their solution]." For example, if a new mom has pelvic floor issues, Brianna is their girl. By creating a clear and concise sentence, you'll be able to better communicate your value to potential clients and increase your chances of closing high ticket sales.

In conclusion, the Two-Week High Ticket Sprint program is a great way to close high ticket clients and double your investment in your course. By taking inventory of your assets, contributing to the conversation, defining your terrain, and crafting your sentence, you'll be well on your way to success. So, what are you waiting for? Sign up today and start sprinting towards your high ticket goals!

(To access the free training video on this topic and future ones, sign up here.)

Introducing the Two Week High Ticket Sprint

As a service provider, it's easy to get caught up in the moment and rely on your feelings when it comes to assessing your progress. However, without looking back at the actual data and evidence, our biases can cloud our judgment and lead us astray. That's why I encourage everyone to take an inventory of their assets and create a simple chart to identify all the relevant groups where their target market hangs out. By doing so, they can determine the best places to post their material and begin sharing their expertise.

Introducing the Two Week High Ticket Sprint, a program designed to help service providers close high ticket clients in just two weeks and double their investment in the course. The first step in this process is to take a real look back at the data of what has worked for you and what you have done so far. This inventory will help you identify your strengths and weaknesses and give you a better idea of where to focus your efforts moving forward.

The Importance of Defining the Terrain

If you want to generate more leads and sales, it's important to have a clear understanding of your positioning in the market. What is the terrain in which you plant your flag? Without a clear answer to this question, you're unlikely to attract the right clients or make the kind of impact you want. That's why it's crucial to define the terrain and make it clear who you are and what you offer.

For example, if you help new moms with pelvic floor issues, your line should be "If a new mom has pelvic floor issues, I am their girl." This kind of positioning makes it clear who you serve and what you offer, which can make a huge difference when it comes to attracting the right clients.

Don't Be Afraid to Plant Your Flag

Once you've defined the terrain, it's time to plant your flag and start sharing your expertise with the world. Don't be afraid to shout it out from the rooftops and let everyone know who you are and what you stand for. This is the only way to make sure that the right people find you and that you're able to build a thriving business that makes a real impact.

By following the Two Week High Ticket Sprint program, you can double your investment in just two weeks and close high ticket clients. But it all starts with taking an inventory and defining your terrain. So what's your sentence? If somebody blank, you... Fill in the blank and plant your flag.

Storytelling for Your Clients

One way to increase your rates is to focus on the success stories of your clients. By writing down the story of each and every client you serve, you can look back at the data to see how you helped them achieve their goals. Having a short summary for each client can help you fuel everything when it comes to making your offer. You can start telling some of that story, sharing a piece of the framework you used to help that client with part of your process. This is all part of the content you share each and every day.

Gangbusters Guarantee

Another way to increase your rates is to include a gangbuster’s guarantee. This type of guarantee helps boost your confidence in delivering the result you promise to your clients. You need to determine what outcome you can guarantee, such as doubling your investment in me if you're a coach or a freelancer, and getting enough clients to double your investment with me in 30 days. This type of guarantee puts you on the line for the results, so you must be sure you can deliver on it.

(To access the free training video on this topic and future ones, sign up here.)

Tracking Progress

To help clients achieve the result, you can create a drool-worthy guarantee like the one above. They have to check off the box every day that they do the work. You can use a Google sheet to keep track of their progress. They have to reflect quickly with a short little summary on their experience completing the action step, tick the box that says they did it, and link to whatever that output is. This ensures they do the work in order to live up to the guarantee.

Beta Program

Launching something in beta is a powerful strategy to help you learn and establish a proof of concept. By limiting the number of participants, you can build in scarcity, which can create a sense of urgency for early adopters who want the edge. You can also be more hands-on with the beta participants, guaranteeing their success or working with them until they get it. This is a great opportunity to learn from the beta group, iterate, and modify the program before rolling it out at a larger scale.

Increasing your rates doesn't have to be a daunting task. By focusing on your clients' success stories, creating a gangbuster's guarantee, tracking their progress, and launching a beta program, you can increase your rates by two to three times without the need for cold solicitation or another big win. By following these simple steps, you can achieve the results you want and gain confidence in your ability to deliver for your clients.

How Conviction and Clarity Can Improve Your Marketing

If you're in the business of selling a product or service, then it's important to have complete conviction in your ability to deliver the promised outcome. Without conviction, it's hard to expect your buyer to have faith in you. So, how do you ensure that you have the conviction needed to sell? By being clear about the kind of people who can achieve the desired outcome.

Identifying the right people is crucial, and this starts with being honest about what you can and cannot deliver. For instance, if you're promising a $2,000 outcome, you need to be specific about the kind of people who can achieve this goal. Not everyone can, and it's important to let potential buyers know this. It's also important to provide free material to those who are not ready to commit. This way, you're not making promises you can't keep, and you're also building your reputation as someone who delivers on their promises.

If you're not convinced that you can deliver a particular outcome, then it's important to be honest with potential buyers. Don't make promises you can't keep. Instead, modify your offering and messaging until you find the right fit. Turning away wrong-fit clients is a level up, and it's a sign of your commitment to providing the best possible service to your clients.

Once you've identified the right people, it's easier to market your product or service with conviction. When you're convinced that you can deliver the promised outcome, nudging potential buyers to take action becomes easier. You can be obnoxious in your messaging, knowing that you're doing it for the benefit of your clients. And if they still don't sign up, then you can withdraw the offer without any ego sting.

To summarize, having private parts on the table means being clear about what you can and cannot deliver. It means being honest with potential buyers and providing free material to those who are not ready to commit. It means identifying the right fit and turning away wrong-fit clients. And, most importantly, it means having complete conviction in your ability to deliver the promised outcome. With conviction and clarity, you can improve your marketing and build a reputation as someone who delivers on their promises.

As always, thank you for being a part of my favorite hour of the week. Remember, if anybody is interested in doing this, this Beta 30 day program with me just DM me so I have your information for when it rolls out. Otherwise, I will see you same time, same place next week.

I love you so much. You're the best. You're one of one. Talk soon.

(To access the free training video on this topic and future ones, sign up here.)

Laura Catella | Mindset CoacH | Founder of Diamond Day Mastermind
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