#198: How to make a profit quickly in business - Tash Corbin, Heart-Centred Business Podcast

In today's episode, we're going to talk about how to make a profit quickly when you are starting a business.  It comes down to finding a sexy strategy that works for you. So let's jump right into it.

Ultimately, every business strategy can be boiled down into three core elements:

• Reach a bunch of people who are potential clients.
• Convert the appropriate ones into paying clients.
• Continuously support and nurture your mindset and energetic well-being.

A lot of the time our results come down to the fact that we are sabotaging ourselves. Maybe we're not doing the things that we need to do, we may be procrastinating and all of those sorts of things.

I truly believe that mindset and energetic well-being need to form part of your core business strategy.

If we are talking about the key strategic decisions that you need to make, about how you're going to grow your business and where your profit comes from, most people starting a business think their number one job is to get reach, to get in front of as many people as possible. The more people you get in front of, the more sales you will make, right?

But that's actually not where profitability comes from, because reach is actually the biggest expense in your business.

Reach is the biggest expense in your business.

If you need to reach thousands and thousands of people in order to make the sales that you want to make in your business, then you're going to need to find those people, you're going to need to reach those people.

And you will either need to do it through ads or organic strategies. That will either take money or time.

Even if you keep doing it purely through organic strategies, you are either investing your own time, which is an opportunity cost, or you are paying for someone else's time, which is also a cost.

So if you think about a business that's starting up, and you get in front of 100 people, and you get one sale from those 100 people, would it be smarter to go out and find another 100 people to make one more sale? Or would it be smarter to focus on your conversion strategies and make a sale with the people you already have access to?

Now, this might sound counterintuitive, and it might sound like it goes against the grain of what a lot of other experts and marketers out there are telling you.

But ultimately, the higher your conversion rate, the less people you need to reach, and therefore, the more profitable your business will be. Because you’re not needing to invest as strongly in that most expensive expense - reach.

When people are working with me in startup, a lot of the time they find this really disconcerting. They're like, “No, no, no, no, no. I need to reach more people with my Facebook page. No, I need to reach more people. I need to get more people watching my blogs, I need to have more people visit my website.”

Ultimately, yes, for scalable growth in your business that is something that you want, but when you're first starting out and you’re looking to get to profit quickly, you are much, much, much more likely to do so if you focus on your conversion strategies over your reach strategies.

So high conversion - how do we get this

Let me know your thoughts via our Text FanMail!

Join the Client Attraction Challenge on the 4th-8th of August! Find out more at: tashcorbin.com/client

Quick note: We have BONUS mentoring calls in the Take Off program in July, August and September! Plus - extended payment plan closing soon. Find out more at: tashcorbin.com/takeoff