Are you ready to maximize your revenue potential?
The answer to this question is usually 'yes!!' however few entrepreneurs really understand what their maximum revenue potential is for each of their offers or for their business as a whole.
One of the most valuable exercises you can do when you want to scale your business is to understand just how scalable the current offers in your business are.
The results can be surprising!
What many business owners find is that there is a pretty big gap between the goals they set for both revenue and profit, and the potential revenue they can generate with the way their offers are currently structured.
Or at least there is a pretty big gap if they don't want to be working 24x7 in order to achieve their goals. #justsaynotooverworking
On this week's episode of the Lean Out Your Business Podcast, I share a powerful activity I do with attendees of the Lean Out Level Up Retreat to help them understand their maximum revenue potential and the maximum impact and reach they have with their current offers.
Figuring this out is critical when you want to scale your business in a simple and sustainable way.
It helps you get clear on your launch plans and marketing plans for the year. It helps you determine your hiring plans for the year. It helps you recognize where you can implement systems to introduce even more leverage. And it helps you identify where you may have gaps in your current signature offer or offer suite that are preventing you from scaling and reaching your goals for impact and profit.
In this episode, I dive into:
- Three things you should consider when building a profit plan
- The one thing that is more important than profit
- What you need to look at when maximizing the revenue of a single offer
- What to look at when maximizing the revenue of a full offer suite
- How to know what offers to keep and which to focus on
- How to leverage your team to maximize your revenue potential
Tune into Episode 44 of the Lean Out Your Business Podcast or keep reading below.
"It’s about more than the profits, it’s about the impact we are making in our customers' lives." - Crista Grasso. Click To Tweet
Maximum Revenue Potential Exercise:
Let's break down an example.
- Let's say you have a 90-day program that you offer four times a year.
- You've structured the group to have 10 clients and they pay $5,000 each which = $50,000 total.
- That's $200,000 annual revenue potential for that single offer if you can fill it with 10 people all 4 times during the year.
But let's say your revenue goal for the year isn't $200,000, it's $1,000,000. The offer as you currently have it structured isn't going to get you there so you will need to reimagine the offer.
This could potentially look like adding more clients into each group, increasing your prices, or running multiple groups in parallel. This will allow you to push past your previous maximum revenue potential and scale into higher six figures and seven+ figures.
This example looks at a single offer but the reality is we typically have multiple offers in our businesses.
We don't "just" have a 90 day group coaching program, we also may do 1:1, have courses, publish books and planners, host masterminds and retreats, etc.
Every business' offer suite is different but even with one signature offer and a backend ascension model, you have a lot to consider.
So what is the maximum revenue potential for your business when you look at all your offers together?
This is the foundation of the profit plan that we build together at the Lean Out Level Up Retreat. Tune into this week's episode of the podcast to get it started, and join us at the retreat in January to fully build out your profit plan and maximize both your profit potential and your impact potential for the new year.
References mentioned.
- Book your spot at The Lean Out Level Up Retreat here.
- Join the private Lean Out Circle Facebook Group.
Ready For More:
- Looking for more tips to optimize your business join us inside our private Facebook Community for Lean Coffee with Crista and team Lean Out Method every week. These 20 - 30-minute sessions combine training with Q&A where you can get your burning business questions answered.
- Wanting an even deeper connection, more planning, and being surrounded by empowering women? Join us this January in sunny California for our Lean Out Level Up Retreat. 3 days of diving deep into what it will truly take to make your big bold goals a reality. Applications are currently open. Spots Limited. APPLY HERE.
by Crista Grasso
Crista Grasso is the go-to strategic planning expert for leading global businesses and online entrepreneurs when they want to scale. Known as the "Business Optimizer", Crista has the ability to quickly cut through noise and focus on optimizing the core things that will make the biggest impact to scale a business simply and sustainably. She specializes in helping businesses gain clarity on the most important things that will drive maximum value for their clients and maximum profits for their business. She is the creator of the Lean Out Method, 90 Day Lean Out Planner, and host of the Lean Out Your Business Podcast.
