If you find yourself wondering: How am I working so hard, yet never getting ahead? Chances are you have money leaks in your business that are sabotaging your success.
Evaluate the list below to determine if any of these things are taking place in your business to identify hidden income and profit!
Below are the most common money leaks that you can plug in your business:
- You are billing clients and waiting for them to pay invoices vs. proactively billing your clients credit cards for services rendered
- Your contract or purchase agreement has loopholes that allow clients to place your service on hold, return partially used products or simply decide they don’t feel like paying anymore and discontinue your service prematurely
- You negotiate discounted rates to get the next client in the door
- You are hostage to your biggest clients that have volume discounts for pricing so low that you barely make income from their business but you are scared to walk OR have no time to service your other high paying clients
- You priced your services too low to begin with and are now in a cycle of burnout servicing clients that barely pay the bills
- You have not executed a price increase in 6 months or more
If you resonate with any of the items above you are missing out on thousands of dollars in income and working far too many hours to compensate.
Take some time this week to evaluate your business and start identifying your money leaks and how you plan to close them up.
Awareness is the hardest part. After you take a look at your business you can come up with very simple solutions to correct these things permanently.
I welcome your questions about how to go about correcting these money leaks in your business for a rapid increase in your income.
This is just one of the topics we cover in my program call the Freedom Formula designed to teach you how to design and build a multi-six figure income while working part-time hours. To learn more simply apply for a complementary conversation with me at www.www.thebusinessadvisory.com/start.
To learn additional business building tips, check out my podcast, Unstoppable Success Radio, on iTunes!
