How a profit ladder can help you double (or even triple) your revenue

Are you a consultant that is struggling with increasing your monthly revenue?

It’s estimated that 76% of new consultants have only one thing to sell to their clients and when the initial consult is done, they’re out hunting for new clients again.

It’s a familiar story and it usually goes like this:

Everyday, you’re picking up the phone calling businesses, perhaps going door to door, posting on social media and whatever else the gurus these days are telling you to do.

The frightening thing here is that this method doesn’t help you GROW as a business.

It doesn’t allow you to scale beyond a certain level.

You see, most of the time, you’re really trading hours for dollars, and I don’t know about you, but last I checked, everyone has the same 24 hours in a day!

Which means you still need to eat, sleep, spend time with your family and have a life!

Getting new clients means you have to start the whole sales process over and over again, which takes up even more of your time when you should be servicing clients at a billable rate or retainer.

So what’s the answer?

Well, if you want to work smarter (and not harder), you really should consider creating a something called a profit ladder.

Profit ladders are offers that stack up on top of each other in order to increase the LIFETIME value of the client.

It’s kind of like the rungs of a ladder or stairs going up.

The fact of the matter is, a profit ladder essentially keeps offering your client something else they will need for their business.

Do you know what the easiest and cheapest customer there is to get?

It’s easier than you think, it’s the client YOU already have!

If they signed up for your initial service or offer and had a good experience, then they already know, like and, trust you.

That’s called the KLT factor, baby!

When they already trust you, they instantly have a higher probability of buying from you again and again.

To give you an example, most profit ladders start of with some sort of freebie or commonly known as a lead magnet.

The ladder then takes your prospect through a series of other steps that will help nurture and engage the prospect so that you can build more trust and advance them eventually to a sale.

After the nurturing stage, you invite them on a call to learn more about them, their business, about the problem they are trying to solve and determine if your offering could help them or not.

But since not everyone will be your ideal candidate, you need a way to filter the perfect fits from the tire-kickers.

This is the point where the mapping, discovery, or strategy call comes in.

Once you discover your prospects’ needs, you can genuinely help them determine if they would be best fit for a course, a DIY program, a monthly retainer consult call, or maybe even a webinar.

This will help filter them even further through your system.

If your client still feels they need more of you and your services, you could even offer them things like done for you services, memberships and higher end/higher value course programs.
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Listen, you’re just leaving money on the table if you don’t have a profit ladder set up for your business yet.
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The profit ladder is actually just one small piece of a BIGGER picture and if you want to “see” what the bigger picture looks like, then I invite you to download a free 3-step roadmap cheatsheet that will show you EXACTLY where the profit ladder fits in the big picture and how you can double your sales if done right.

By Faisal

Faisal Farooqui is an Business Strategist, Mentor and entrepreneur who partners with coaches, consultants, and services businesses to grow their personal and professional brands, human-to-human. After spending nearly a decade working in a advertising and marketing agency for multimillion-dollar brands and startups, Faisal knows what it takes to amplify your business and brand, creating online courses around your knowledge and expertise, creating an online following and building an tribe that loves you, all by utilizing tools, technology, and strategies that he makes easy to understand and implement.