How do you set yourself up to make money, without spending too much in the process?

1  Name yourself well

You will spend a lot of time with your business. You will say it a lot, you will write it a lot, you will identify with it to a point. Make sure you like the name. Naming isn’t easy, but it’s worth investing time in. Your business could be ‘local’ so the name of where you are might be important. Your business might be personal, so something that reflects you might be important. Think about your target market. What kind of name would they like or expect to see? Think of brands that excite you. What works with their name?

2  What do you sell?

Sounds simple enough. But really think about it. If it’s a range of items or services you offer, really pinpoint the commonality. You should be able to list what you sell, or your ‘Core Business’ in no more than 4 items. 

3  Why do you do it?

Yes I know everyone has seen the Simon Sinek talk, and read the Steve Jobs ‘It’s about the why’ thing. But really. Why you do it matters. Not the ‘I want to make money’ part. It needs to be the reason you do the particular thing, and also why someone would buy that thing from you. Put it in a sentence, and call it your ‘Mission’. And then practice saying it, because your Mission statement can easily be your ‘Elevator pitch’ if you work it the right way. (The phrase you use to explain what you do and why you do it, in the length of an elevator ride.)

4  Who do you want to buy it?

‘Everyone’ is not the correct answer. Focus on exactly who you would like to be a repeat customer, or ‘desired Target market’. Focus on them, because it’s easier to get someone’s attention when they think you are speaking directly to them. If you’re ‘talking to a crowd’ then it’s easier to opt out. Make your customer feel special. Speak to them, in their language, where they will see it, and at a time that suits them. You do that well, and they like you, then they will tell their friends about you.

5  When you are challenged with options, come back to those initial foundations you set up

(Core business / Mission / Target Market.) Trust that your original vision is the strongest, and stay the course. 

6  Speak with someone who has done something similar before

Float ideas, ask about their systems and who they get to help them, or who they would if they were doing it over again. 

7  You will gain clients / business when the right people know what you do, and why it’s good for them

Think about your network. How can you get in front of your desired target market, with the network of people that you know? Who knows who? Is it time to expand your network?

8  Be specific about what you do

Come up with a phrase to explain it well. Or a series of phrases. It’s ok to have a script, so that you can read if you get flustered. Practice until it comes easily.  

9  Show examples of what you do

Get photos taken. Use photos or examples from previous work. Credit what you use, and get permission, so that you have confidence it’s not going to reflect badly on you. Get testimonials from previous colleagues, clients, even friends. These are like commercial references. The psychology of knowing someone trusted you in the past, and that you did a good job or they liked your product, is important. Publish your licenses and accreditation. Prospective customers need reference points before they will take a leap and engage you. Work out how you can give this to them. 

10  Showcase

Let people know what you are doing, and show them. Create a social media accounts for your brand. Ensure their profiles and any posts are in alignment with the tone of voice your brand has to ‘talk’ to you desired Target Market. Create an emailable document about your services and send it to your network. Create an offer and let people know about it. Make it something they tell their friends about. Create a Google business profile and invite (people you trust) to review you there. Build a reputable business. The sum of the parts makes a huge difference.