The holidays are a wonderful time — to get together with loved ones, to practice cultural and family traditions, to eat all your favorite foods, to watch seasonally themed movies…
And it’s also a GREAT time to get this money!
According to the National Retail Foundation, end-of-year holiday sales have averaged about 19% of all annual retail sales over the last five years.
So, here’s my gift to you…
Below you’ll find a list of 5 ways to generate cash this holiday season.
As you read through each option below, take some time to decide which of them are Million Dollar Decisions for you. All of these are great ideas to generate cash — but depending on where you’re at in your business, it may not be the right time for you to try some of these out.
For example, some of these ideas may require you to block a significant amount of time on your calendar. However, if you’re running your business on your own and don’t have a team to support you yet, this might not make sense for you right now. No worries! Hold that idea for later, and pick something else that you can implement easily and quickly.
Pay careful attention to the ideas that make you say, “Ooh…THAT is something I wanna do.” Then get out there, execute, and collect that coin before the year’s end!
#1 - Raise your prices (with a twist!).
You could simply raise (or preferably, double) your rates, and stop there.
Or, you could let your current clients know that you’re about to raise your prices, and give them one last opportunity to purchase your product or service at your old rate.
For instance, you can email your favorite clients or your most loyal customer to say, “Hey, just FYI, my prices are going up. But if you prepay for your next 5 sessions right now, you can purchase at my old rate and use them anytime in the next year. Savings for you!"
#2 - Do an email challenge — 30 people in 10 days.
Challenge yourself to email 30 people in 10 days (3 people a day, 10 days in a row). Email family, friends, colleagues, clients, professors, classmates, those ladies from your book club... anybody you know.
Even if they’re not your ideal client, they might know someone who is! Send each person a quick note, something like:
“Hey! I’m not sure if you know this, but I run my own business. These are the products / services I offer: _______. If that’s something you need, let me know! Or if you know someone who might like this, please encourage them to check out my website or email me. Thanks so much for spreading the word!”
#3 - Offer a VIP Day.
If you don’t already have one main offer you’re focused on, you could create a simple offer at a high price — like $1,500, $3,000, or $10,000 a day — for a very exclusive, pampering, VIP experience.
For example, if you’re great at lawn care, you could sell a day where you go over to someone’s house and transform their janky yard into a fabulous oasis by 5 pm.
Or you could spend a day coaching someone through their mindset around healthy eating, and create a month-long meal plan for them by the time you leave.
You could spend a day helping someone create their first website, clean out their garage, or learn how to do their own makeup.
This client gets your one-on-one expertise — ALL DAY — the full deluxe experience. You don’t need to convince 500 people to purchase. All you need is 1 person to say YES and then whoosh, cash infusion!
#4 - Do an upsell.
An upsell is where you sell a really enticing bonus or additional service to someone who already purchased something from you.
For example: Maybe someone bought your book for $20. Yay! Now, for $200, they can join an upcoming course where you guide them through it, chapter by chapter, and help them take action on what they’ve learned.
Consider, “What would be enticing for my customers? What is that extra guacamole, that cherry on top, that would feel like an immediate YES?”
#5 - Do a time-sensitive incentive.
Say: “This program / product is $595, but if you purchase before [insert deadline], you automatically save $100 and it’s $495. Come on in!”
You’d be amazed at how effective this can be. You won’t be the only one offering incentives like this during the holidays, though, so consider how your marketing efforts can help you stand out from the crowd.
The Assessment will tell you what level of business growth you’re at right now, from Beginner ($0) to Baller (7 figures), and give you a concrete list of action steps you need to take if you want to hit your next revenue level.
Once you take the Assessment, drop me a comment below with the next money move you’ll be making this holiday season!