Unlock Your Earning Potential with the Revenue Optimization Canvas
As an entrepreneur, you’re good at solving problems. But, you can't fix problems you’re not aware of. Today we’re going to remove those blindspots so you can analyze and optimize your business model.
As an entrepreneur, you’re good at solving problems. But, you can't fix problems you’re not aware of. Today we’re going to remove those blindspots so you can analyze and optimize your business model.
00:45 – Blind spots
3:00 – Your offer
We touched on this in a recent episode, but here’s an overview of what your offer should be made of:
- Your audience’s dream outcome
- How do you specifically help them solve a problem or achieve a goal?
- Maximizing your prospects' perceived likelihood of achievement
- This could be through guarantees, testimonials, or the promise of ongoing support
- Minimize time to success
- What wins can you deliver quickly for them, even if your service requires a longer lead time? What difference can you make to your clients in two weeks or 30 days?
- Decrease effort and sacrifice
- How can you make it easier or convenient for them to work with you or accomplish their goal?
- Consider a “done for you” service
- You can also offer clients templates that they can apply themselves
4:40 – Branding and Marketing
Most entrepreneurs spend way too much time here already, but it’s worth touching on because your personal brand is the only true differentiator in the marketplace.
Start posting on social media three times a week – you should be aiming for connection, and positioning your expertise in the marketplace.
5:42 – Business Development
The definition, per Google: “The activity of pursuing strategic opportunities for a particular business or organization, for example by cultivating partnerships or other commercial relationships, or identifying new markets for its products or services.”
Branding is passive – business development is active. Pursue your clients!
9:25 – Service Delivery
You can have the best offer in the world, but if you don’t deliver word will get out.
One best practice for working with a new client is to be very clear on what they can expect from you. Deadlines, deliverables, frequency of meetings, tracking milestones, and communication – this information should all be readily available for them.
11:38 – Workflow optimization
Use OKRs (objectives and key results) to get crystal clear on what your priorities are for the quarter – then work your way backwards to the actions you need to take to achieve those goals.
Any time you come across an opportunity that doesn’t contribute to those goals, you’ll know to keep moving.
For more on the 360 Revenue Optimization Canvas, visit terryrice.co/optimize
Past episodes referenced in this episode:
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