Is it time to rest on your laurels if you’ve met your business goals. It is also not the time of year to throw up your hands, give up and think that you can just try to “do better” next year. There are some things that entrpreneurs can do to give their business an end of the year revenue boost. Some of them may not be able to be put into practice before year’s end, but others can.
End Of The Year Revenue Boost
- Do you have unused office space? Consider renting out a room in your office. If you have extra office space or a conference room that is only used occasionally, consider a co-working option and rent the room by the hour or day to another entrepreneur who doesn’t need a full time office space but wants a place to meet clients on occasion.
- What expenses can you cut? Look at the subscriptions and programs that you pay for and make note of any that are duplicates. Is there one service that can perform the task another is? Stop paying for one and combine what you need to get done with one subscription. Also, are you paying for phone lines or email addresses or other “invisible” costs about which you are unaware until the bill comes.
- This is the time of year to focus on the upsell. “If you buy three months I’ll give you the fourth for free” or “if you invest in this product we can bundle it with these other products and you will save.” What makes sense as an upsell for your business. Offer an end of the year upsell campaign to kick off the new year with revenue streams.
- Is it time to up your prices before the new year? If you have clients who have been with you, offer them the services at their same rate IF they re-up with you before the end of the year. If they don’t opt to do that, then let them know how much they can save if they make the commitment now.
- Ask current clients for referrals. If they offer you a referral who signs on with you, give the referring client a bonus — one free month of the service they are currently receiving, for example.
- If you’re using ads, make certain you have a strategy for the ad spend. Don’t just run an ad “because everyone else is.” If you don’t have a strategy behind the spend, you are throwing your money away.
What have you done in the past to amp up your earnings at the end of the year?