The 3 Ways to Make More Money In Your Business

All right. It’s the quintessential business problem every entrepreneur is trying to solve for this is how to make more money. So we’ve been collecting a lot of responses from applicants to the beyond the apex community. And one of the questions that we ask in there is if you can wave a magic wand and fix any problem, what’s that problem? And probably the most common problem people would fix is how do I make more money? And so I thought I’d just break down this in a very simple, high level way here today on this, this podcast, which is that there’s really only three ways to make more money in your business. Just three. You can either get more customers, you can make more per customer, or you can decrease your expenses. That’s it. So let’s.

Let’s talk about these in terms of, like, how we can do them and how to think through these things, right? So, number one, how do we get more customers? In my experience, the lowest hanging fruit for getting more customers is simply to make more people aware that you exist. The truth is, you can’t save souls in an empty church. You could have the best product in the world. But if nobody knows that you exist, if they, if your customer does not know that you have the solution to their problem, then you cannot help them. And so making people aware that you exist, that you have the solution, is going to expose you to more sales and making more money. I guarantee it. Now, there is, you know, tons of ways that we could do this. This podcast is a great example of an organic piece of content that is evergreen, which means that it’s going to exist into perpetuity.

People can search it, they can watch it two years from now, and they can get value from it. This is a way of making us. Making you aware of us. Rather, we can do this through content. We could do this through paid advertising. There’s so many different ways that you can make people aware that you exist. But generally, in my experience, if you are not yet doing seven figures of revenue in your business, it’s simply because people don’t know you exist. Not enough people.
You just need to make, if you did nothing else, just to ten x the number of people that knew you existed, you would ten x your business. That’s seriouslY, if you’re doing $100,000 in top line revenue right now, the key to getting to that million dollars is as simple as making ten times more people aware that you exist. So we can do that through organic, we can do that through paid. Lots of ways that we can do this for the nitty gritty of that we’re going to, this will be on the scope of this. But that’s number one, make people aware that you exist. The second part of that is to make more offers to those people who know you exist. If you don’t get in front of these peoPle, just having eyeballs is not enough. Actually making offers and saying, hey, here’s how I can help you.
Are you interested in this? Learning sales, that is the key to grow in the business. If you did nothing else in your business, again, to go from 100,000, that six figure to seven figure, is just to make more people aware of what you’re doing and offer it to them. Make more offers. It’s really that simple. It’s a numbers game at that point. Truly is just a numbers game. Now, to make even more money as we start to go up is how do we make more money per customer. So I wouldn’t really worry about how to make more per customer until you’re doing mid six figures and maybe more realistically low seven figures.
The reason is you can easily get to half a million dollars a year in top line revenue simply by making more people aware that you exist. And selling and making that offer. Doesn’t matter if you only have one product. I know Alex Ramosi is a big fan of one product, one sales channel, until you get to $1 million. And I think that’s a pretty good framework, generally speaking. Once you get to that level, though, and you’ve started to maximize, like, okay, how many people know you that one opportunity, that one product, how can we make more? And the simplest way is just to increase the value or the price of that thing, increase the deliverable value. For most service based businesses, this is going to be the easiest way to make more money, is to figure out how to make your product or service more valuable and then just charge more. So instead of charging $2,000 a month, now you’re charging $5,000 a month, and you’ve over 50% grown and over 100% grown.
And by doing no other thing than just refining that one product and asking for more money. And generally when you do that, it has a lot of downstream positive benefits, such as you attract a higher caliber of audience or of customer. If somebody is willing to pay $5,000 for your product rather than $2,000, the likelihood that they’re going to execute on the thing that you’re telling them and actually get the result as a consequence is much higher. If they get the results, they’re more likely to make a referral, they’re more likely to leave you a testimonial, which makes it easier to get the next customer. So this becomes a virtuous cycle in a lot of ways. So making more per customer, you could also have back end offers, you could have upsells, you could have downsells. If you have your primary product for say $5,000 and they don’t go for that, and then maybe you have a Downsell at $2,000 or maybe just $200. Like maybe it’s, we have our $200 product to get people in the door and then we try and upsell them on the back end.
I think generally you don’t need to have more than three products to get to. I’m ten figures to get. You could. Yeah, well, that’s probably true actually. But to get to $10 million to get to that, that eight figure level, I think you could have just three very complimentary products that serve at different layers. So for instance, if you’re a service provider, that could be $1,000 for the entry level consult, gives you your blueprint and how to execute these things on kind of a do it yourself basis. You could have your 5000 $6,000 offer for done with you. So we sit down together, I train your team, we show you how to do this.
Or you could have the $15,000. I do it, my team does it for you. Just those three product offerings, right? There is a great way of increasing the lifetime value of your customer because they might start at the $1000, move to the five, and then eventually graduate up to the 15. And now your total lifetime value of that singular customer is, you know, 21,000 rather than just maybe 5000. If they’d only, if you only had that one product. Now in the beginning, I recommend you just start with the one product and then build out the upsells and downsells later on. Don’t get too convoluted with it. People that have 20 different product offerings, I look at it, I’m like, that’s just too much to manage.
Too many landing pages, too many funnel entry points. And the more that you can simplify it, the more you can simplify your messaging, but also your deliverables. It’s much easier for your team to deliver on only one of three products rather than 20 different things. So that’s another way. And that is indirectly then going to affect, not indirectly, but it’s going to directly affect the third way to make more money, which is to spend less right. One of the most valuable business lessons I ever learned was thankfully, very early in my career, a mentor told me that a dollar saved is worth more than a dollar earned. Because the dollar saved is, the dollar earned is always on a margin. So if you have 50% margins, you make $1, you get to keep fifty cents at that.
So for every dollar of revenue you drive, you get to keep $0.50, whereas in expenses, every dollar you save, there is no margin on that. So $1 saved goes directly to the bottom line. And I think about that a lot in terms of how do we optimize the profitability of this business? How can we reduce expenses, keep things lean, and this has a secondary benefit, which is that a lean company is actually a very hard company to kill. Right? You don’t have a lot of overhead expenses, and that’s a beautiful thing when times get rough. If sales don’t hit your expectations by keeping things lean, you make yourself very hard to kill. And I’m a big fan of being hard to kill. Those are three ways of making more money in your business. You can get more customers, you can make the customers you have more valuable, or you can spend less in servicing the customers.
And take those frameworks, think about them in the context of your own business. Look for opportunities to either get more in, make more per, or decrease the expenses. And if you do that, you will be making more money. But if you want to keep scaling even faster, if you want to grow, if you want some outside perspective, some coach, some guidance on what areas of your business are actually the bottleneck. Because I find that often when you’re inside the picture frame, you can’t see. Or when you’re inside the picture, you can’t see the frame. Right? When you’re inside the bottle, you can’t read the label. Often, as an entrepreneur, our expectation or like our perception of what the actual issue is in our business might be very different than the objective reality.

So if you want that coaching, if you want that feedback, go apply for beyond the apex. The accelerator program is for entrepreneurs doing five to six figures and they want to go to seven and eight figures. And if that’s a good fit, we’ll see if we can get you in. And if not, just keep watching the podcast. We’ll keep putting out as much value as we can to help you scale your business for free. And I hope it brings you a ton of value. Truly, thank you for being here. I appreciate each and every one of you.

We’ll catch you in the next episode. But until then, stay hyper focused, my friend.