Have you given up and are you going to coast toward 2021? We get it. 2020 has kicked our butts! Coronavirus and the pandemic shut down of the country has put many businesses in a precarious position on not knowing whether they will survive for the long term. If you want to know how to end the year profitable, stick with us.

You don’t have to go all out for this last couple of weeks, but with a few tweaks and some changes you may end the year on a higher note than you were originally anticipating and can’e we all use some wins right about now?

Take a look at these and see what fits for you and your business and do what you can to end on an up note.

How To End The Year Profitable

  1. Are you renting an office? Do you need to continue renting it? Have you found that you’re able to work effectively from home? If so, you may not be able to cancel your lease right now, but consider it for the new year and start out with a savings.
  2. Do you have space in your home that you can rent out as a conference room? You may need to do quite a bit to make it a safe workspace because of COVID-19 and having a separate entrance for the renter makes sense, but there may be local entrepreneurs who simply need a space in which to do a Zoom call or a client call and they can’t get the quiet they need at home.
  3. Are there expenses you can cut? Are you paying for magazine or newspaper subscriptions that you don’t read? Are you involved in online groups or mastermind or other affiliate or membership groups that you don’t interact in or with? Are you paying for items you’ve forgotten about? Do an audit of your bank account and see if there are subscriptions you can cancel to save money.
  4. Are there upsells you can offer to current clients? “Hey if you sign up for three months of my service in 2021 I’ll throw in a month for free if you pay upfront?” or “I am selling this new book/course along with my membership service… are you interested?”
  5. Are you going to raise your prices before the new year? If so, reach out to current clients and let them know. Offer them the service at the current price if they sign up for X number of months. Let them know what the new price will be and let them make up their own minds.
  6. Now is the time to ask for referrals. Fill the first few weeks of your 2021 calendar with potential new client calls. Don’t start the new year with a blank calendar. Offer a referral bonus or gift for those who do provide you a referral that pans out.
  7. Are you buying ads in local papers or media or online? Are they working? If not and if it’s not measurable, why are you doing it? If you don’t have a good answer, don’t continue with that marketing practice.

If you’re not sure what worked last year. If you don’t know how to pivot into 2021 to stay viable or turn a profit set up a time to talk with Rex Richard about your business goals and marketing strategy. Start the year strong!

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