Hidden Profits to Work Smarter Instead of Harder

Work smarter, not harder. Build a prosperous business, without killing yourself. Scale your numbers without the overwhelming hustle. These all sound like nice ideas, right? Stacey Hylen is a business growth strategist and coach that helps leaders and salespeople truly create a regret-free business, backed by these kinds of ideas.

Have You Really Tried Everything?

Often times in business, managers, and leaders will reach a breaking point of “I’ve tried everything.” But have they really tried everything? Or have they tried just a few things, a few different times? Upon closer examination, many people give up way too easily or create their own obstacles to success. It’s usually not the case that we can’t do something, or that there aren’t opportunities, but rather it’s that we choose not to do them. The remedy is to be very honest with yourself about the situation that you’re in, and making the choice to do things that might make you uncomfortable, like moving, trying a new strategy that’s unfamiliar, and other things that seem quite scary. Instead of talking ourselves out of opportunities, reframe it as a really great adventure and really, truly, try everything before giving up.

The Power of Resourcefulness:

There have been many business people that have started with nothing, and built an empire of greatness, off of one thing: resourcefulness. Sometimes these leaders didn’t have the money, didn’t have the network, and didn’t have the training, but they relied on hard work and their resourcefulness to find success. Many leaders miss out on hidden profits because they were not resourceful in their strategies. There are many things leaders can do that are quick and easy to implement, free or low cost, and work with any size business. The combination of implementing these strategies, and pursuing them with resourcefulness, can be a total game-changer for an organization.

Strategies For Hidden Profits: The Upsell

Why wouldn’t you want to capitalize on the profits that are already accessible to you, without doing any extra work? There are many opportunities to capitalize on these hidden profits and get money that is money right in front of you that you can’t see. It can be a complete game-changer to capitalize on that earning potential, especially after you’ve already put in the work of doing marketing and working the sales process. One very simple technique is the upsell. Most people are already familiar with this strategy, but very few companies actually use it to their full potential or using it on a consistent basis. It can significantly increase the overall total of the sale, without doing any extra costly work. Identify the top products that you have, create an upsell script, and then focus on how that upsell can also solve problems for the client.

Strategies for Hidden Profits: Come on Back

Look at the clients that have fallen off of your radar and fallen off the books, and invite them to come back to your business. This is called the “come on back” strategy for capitalizing on hidden profits. Start by looking at your perfect clients, and choose the 20% that are accounting for 80% of your business. Make them a special offer to come back, with a time limit, and it can work magic in your business. A lot of times, people can be quite shy to come back, so reaching out to them and making them an offer can eliminate the fear and make it easy for them to start doing business with you again. There can be a tendency to be only forward-focused, and work at generating new leads and getting new customers. The come on back strategy allows you to capitalize on the work that you’ve already done with clients in the past.