With everything going on in the world today, more entrepreneurs than ever before are searching for strategies to help them make “fast cash”.
And today, I’m going to teach you five of my favorites.
I’m not talking about get rich quick schemes…
But legitimate and easy to implement strategies that any business owner can use to make instant income (in any economy).
No matter how bad things get, your customers are still out there and they are still buying.
And with a few simple tweaks, you can get them to buy a lot more today.
1. Use THIS Referral Script to Turn Happy Customers into Lead Generating Machines
Every entrepreneur “knows” that they should be asking for referrals.
But there are two problems:
1. Most of them don’t
2. And those who do have no idea how to do so effectively.
Today, I’m going to give you a simple referral formula that Bedros teaches to all of his Fit Body Bootcamp franchisees and that I’ve personally used to close 6-figures in coaching and consulting deals.
It goes like this.
Step 1: Set the Expectation
During your first call, meeting, or interaction with a new client, you want to set the expectation that you’re going to be asking for a small favor in the future.
As soon as you close down a new client, you should immediately segue the conversation by saying:
“Hey Name, I’m so excited that you’ve decided to invest in yourself and join xyz program. Now, I’m committed to helping you achieve your goals and we’re going to work together over the coming months to make sure you do just that. But before we get into the [coaching call, fitness consultation, etc.], I want to ask…If I help you achieve your goals, will you be willing to do me a small favor to help me reach mine?”
And leave it at that.
If they ask for specifics, simply redirect the conversation by saying, “We’ll talk about that after I’ve helped you achieve the outcome you’re after, but for now, let’s get into [your coaching call, first day of training, etc.]”
Step 2: MEET the Expectation
Once you’ve set the expectation, the next step in the referral machine system is to meet the expectation that has been set, typically over a 6-8-week timeline.
If you’re a fitness coach, this means helping your new client lose fat or gain muscle.
If you’re a business coach, this means helping your client make more money or spend fewer hours in the office.
If you’re a relationship coach, this means helping your client reduce conflicts in their marriage, have a more fulfilling sex life, or simply learning to communicate more effectively with their partner.
Whatever you promised your client during your first conversation, deliver on that promise.
When you can step into a client’s life and help them solve their biggest problems with speed and efficiency, they won’t hesitate for a second when you ask them to refer a friend or family member to your business.
Step 3: ASK for the Referral
Once you have set and met your client’s expectation, the next step is to ASK for the referral.
And this is where most entrepreneurs get it wrong…
Sure, they might ask for a referral, but they do it in the wrong way. They don’t make a concrete request or provide done-for-you solutions that make it easy for client’s to make referrals.
They’ll say something like, “Do you know anyone who would be a good fit for my business?… Yes? Great! Please connect me with them sometime.”
To succeed at the game of business and create money out of “thin air” you have to do better than that.
You want to give your clients word-for-word scripts and, if possible, get them to make the introduction on the spot, or, at the very least commit to a specific day when they will make a referral.
To do this, you’re going to use a script like this:
“Hey, client name. So you remember a few months ago when we first started working together how I said that I would help you achieve your goals if you helped me achieve mine?
Well, we’ve been working together for 10 weeks, and so far you’ve, [lost 10 lbs. of fat, increased your income 15%, doubled the number of date nights you take with your wife].
And I would really appreciate it if you could connect me with any friends or family members who you think could benefit from my services…Can you do that for me?”
At this point, they will almost always say yes, after which you will respond:
“Great! So here’s what I would like you to do. First, can you write down the names and numbers of two-three people who you think I could help and then, would you mind sending a quick text introduction to them sharing who I am, what I’ve helped you do, and why you think we should work together?”
If your business is done virtually and you don’t meet with clients face to face, you can ask these same questions via text, email, or direct message and then send them a script like the one I use in my business:
I want to introduce you to my coach Craig Ballantyne.
Craig has helped me double my income in the past six months while working 10 fewer hours a week and making more time to spend with Rosa and the kids.
Craig, meet Joey.
Joey is a former co-worker of mine who told me that he needs help scaling his business beyond six-figures without putting in crazy work weeks.
I’ll let you two take it from here.
If you do nothing else other than implementing these proven scripts into your business, I promise you can increase your revenue by 15-20% in the next 12-weeks alone.
Referrals are by far one of the most powerful hidden sources of profit in your business and now…you know how to use them like an 8-figure Empire Builder.
2. Remember – The Money is in the Follow-Up
What if I told you that you could generate 20% more revenue in your business this week, without:
· Investing in expensive marketing campaigns
· Buying media
· Hiring a PR agency or out of house marketing team
· Or spending any more money on your business than you do right now?
Well, you can.
In fact, using this “Monster Follow Up” strategy, I’ve helped clients more than double their conversion rate, quite literally, overnight.
The premise is simple.
Most entrepreneurs are terrible at follow up.
When a new lead hits their inbox, they will message them once and maybe, if they’re experienced two or three times.
Listen, lazy follow up does not work in 2019. People are busy. They have mortgages to pay, kids to raise, businesses to run, and thousands of tiny distractions diluting their attention.
If you are not intentional and aggressive with your follow-up, you won’t even appear on their radar and they’ll forget all about you in a matter of weeks.
So here’s what you’re going to do…
The second a new lead comes into your business, you or one of your team members will immediately follow up with a phone call. If they don’t answer, you’ll send them a text message. If they don’t respond to that, you’ll find them on Facebook and send them a message there. And if that doesn’t work, then you’re going to hunt them down on Instagram and send them another direct message.
I know this might sound like overkill, but you need to remember…
These people came to your business because they have a problem. There is something in their life that isn’t working and you have the solution.
If you had a close friend with a serious medical condition and you knew of a new treatment guaranteed to help them fix their health, would you just send them one text and hope for the best?
Of course not! You’d beat down their door if you had to and you wouldn’t stop until you got ahold of them and helped them solve their problem.
If you want to build an empire and leave a lasting legacy, you have to treat your clients the same way.
And, if you’re still worried about ‘annoying’ your new lead, I want you to re-read that last section…because you aren’t done following up yet.
In fact, you’re going to use that same follow up formula (phone call, text message, Facebook message, Instagram direct message) for the next three days.
If you will do this, your conversion rate will skyrocket and you’ll quickly realize just how much money you’ve been leaving on the table.
3. Harden Up—Your Offer
After working with hundreds of entrepreneurs, I’ve noticed that so many people are trying to sell soft or “unsellable” offers.
Or rather, that they are making their offers unsellable by positioning them in the wrong way.
I hate to be the bearer of bad news, but people don’t care about your “confidence coaching” or your “mindset program.”
They only care about three things:
1. Making more money
2. Changing their body (gain muscle, lose fat, get healthier)
3. Having more sex (or improving their relationship which…leads to more sex)
And if you aren’t directly addressing and solving one of these three problems, if you aren’t making hard offers in your business, you aren’t going to make the money you want.
So does this mean that you shouldn’t offer confidence coaching or help people fix their mindsets or get more motivated?
Of course not!
In fact, as a business coach, about 70% of what I do revolves around helping people become more confident, fix their mindset, and get more motivated.
But you can’t sell those things.
You have to sell them on the tangible benefit that will result from those things.
Think about it…
People want to be more motivated so they can…
1. Make more money
2. Change their body
3. Have more sex
People want to fix their mindsets so they can…
1. Make more money
2. Change their body
3. Have more sex
People want to boost their confidence so they can…
1. Make more money
2. Change their body
3. Have more sex
So by all means, offer those services to your clients. But don’t sell them on those services.
Sell them on what they really want and use those “soft” offers as vehicles to help them arrive to their desired destination.
4. Leverage High Ticket Offers
Have you ever met someone who, regardless of what’s being offered, always wants the most expensive and high-end item?
The person who buys the name-brand shoes or clothes even when they could spend less while still getting the same quality ?
Or the person who would rather spend $35,000 on the highest-end Honda even though a $10,000 barebones vehicle will get them to and from work just as efficiently.
And guess what?
There are people just like that inside of your business.
You have customers and prospects who are not only willing to pay top dollar for your highest-tier services…but who actually want to.
They would rather pay you $2,000 a month for direct access to you and your best material than $497 a month for your group coaching program.
They would rather spend $20,000 a year to join your in-person mastermind than spend $35/month for your online alternative.
The problem is that most entrepreneurs never give these people a chance to invest more because they’re too scared of going for the sale.
Listen, it’s unlikely that you will sell 85% of your existing clients or prospects on your highest tier products or services.
But those 15%?
They are willing and eager to invest with you…if you will only give them the opportunity to do so.
On your next sales call or in your next product funnel, I have a challenge for you.
Once the sale is made but before you deliver the first product, ask your prospect a simple question.
“Are you interested in a bigger outcome?”
If they say “Yes,” then you can segue into a pitch for a bigger package and if they say “No,” guess what? You still made the sale and lost nothing.
I’ve used this exact tactic to upsell $5,000 coaching clients into my $20,000/year mastermind and to upsell $20,000/year mastermind members into my $25,000/day 1-on-1 coaching.
It’s worked for me and it will work for you too.
5. The 5-Email “Thank You Sale” Sequence
If you have an email list (which you should), and want to leverage that list to launch a new product and drive immediate cashflow to your business, I’ve developed a simple three day, five email sequence that has worked like magic.
I’ve personally launched more than 100 products over the course of my career and some of my absolute best launches came from this simple sequence.
It goes like this:
Email #1: Thank You/Pitch
In your first email, you’re going to start by thanking your reader for being a part of your brand and company and mention how grateful you are for their feedback and suggestions over the past few months.
Then, and this is the important part, you’re going to say:
“I wanted to thank you for your suggestions about creating xyz solution and let you know that I took your advice! You asked and today, we’re answering with the launch of xyz product.”
This positions your product as something that your readers have already asked for.
And, when they see a solution as something they requested, they’ll be far more inclined to invest.
After announcing the launch of the new product, inform them that you’re running a short 3-day sale and that the price will never be this low again…so they need to act fast.
Then, after 4-6 hours, you’re going to send another email:
Email #2: Thank You (Again)/Announce Bonuses
In your second email, you’re going to thank your readers again and, again, reiterate how they requested a solution, and you created it.
But in this email, you’re going to announce a “Fast Action Bonus” you created to provide even more value…that will only be available for the next 12-24 hours.
The bonus can be anything from a webinar to an extra coaching call with you to an advanced training module that isn’t available to the general public.
Anything that provides extra value and helps them solve their problems faster will do.
This email combats what I call the “stupid human trick” of procrastination and will force your readers to take action now to get the results they want.
Email #3: The Giving Hand/Soft Pitch
On day two, you’re going to send a third email, this time focused on a specific piece of content that will deliver RIA or results in advance.
You want to use this opportunity to showcase your expertise with free content so that your subscribers can get a taste of what the full solution will be like.
Then, at the end of the email, include a soft pitch reminding them of your new product and the fast-approaching deadline.
Email #4: Why they NEED Your Program
On day three, you’re going to send two final emails.
The first is simply a list of the 10-15 reasons why your subscribers need to get your course and take action on your offer.
Have fun with this one. Intersperse humorous reasons, (E.g. Craig Ballantyne is the best looking coach in the world) along with serious ones, (e.g. You’re working too many hours and never have enough time to see your wife and kids).
At the end of the email remind them that today is their last day to take action and get access to the program at this price and with the offered bonuses.
And then, send your final email…
Email #5: Final Pitch
In your last email, keep things short and sweet.
Simply remind your readers that this is their last opportunity to get your new product at the advertised price and that, at midnight the price will increase and the bonuses will disappear.
There’s no need to get fancy here. Your only goal is to get people off the fence and leverage scarcity to drive those last few sales.
I’ve used this exact sequence with dozens of product launches and every time I do, I’m blown away by the responses.
Swipe and deploy this into your business and I promise you’ll be amazed by how effectively this works.
Over to you.
What do you think about these five money-generating strategies? Which one are you going to test first? Have you used any of them before?
Try them out and let me know your results in the comments below.