Hitting a revenue ceiling sucks.
While everyone else is freaking out about how the latest change to the Facebook algorithm is going to kill their lead gen …
There you sit.
A calendar chock-full of client work, no time to take on anything more, and still not enough money is coming in.
I remember when I first hit that point, I tried following all the advice about how to “scale quickly.”
I built group programs. I brought on contractors. I raised my prices. I switched to retainers and productized my services.
And I just ended up more stressed, more frustrated, and with less money and time to show for it.
Maybe you can relate.
So what do you do when you’re in that situation?
Here are three steps you can take if you want to be able to expand your business’ growth capacity and blow through that revenue ceiling.
Here they are.
1. Get the Cash Flowing
The first thing you need is to free up some cashflow.
That’s pretty obvious. If you don’t have cashflow, you can’t invest to grow your business.
Now, that might mean you need to raise your prices, it might mean that you need to reduce the amount of effort that goes into delivering your product, it might mean you need to do both.
But we need to free up your cashflow to a point where 15% of the money that comes in not being spent; staying in the business as profit.
Once you’ve got that in place and you got the cashflow sorted out, then you can go to step number two, which is to start to reallocate.
If you’ve been able to set aside 15% for profit, you can now temporarily reduce that to 10% and use the difference to fund your growth.
You can use that to hire someone. You can use that to reinvest in the growth of your business. You can use it in any number of ways.
But the key is that the investment that you make should see a return on that investment. If you hire someone, they should increase your business’ ability to generate more revenue.
That way, the costs remain the same, but your revenue increases.
Over time, your profit will also increase back up to 15%. It gets back up to 15%, you can start to reinvest again, drop it down to 10, allow that investment to achieve its return …
You get into this really nice cycle where you’re able to continue to grow your business without hitting a ceiling.
3. Don’t Save Time, Expand It
So once you’ve got the profit, How do you reinvest?
A lot of people think, “Oh, I should hire someone” and that can be a great answer.
But when you’re hiring, it’s really important to think about expanding time, not just saving time.
Because the truth is, there’s only so much time you can save. Hiring a VA may give you a few extra hours a week but what if you were to hire someone to do sales calls or to do your coaching calls?
Then you’re starting to create more time, more capacity, more ability to do amazing things in your business.
So, when you hire, think about how you can create time instead of just saving time.
That’s what I’ve got for you today; just three really quick things to look at if you feel like you’re in a situation where you’re at a revenue ceiling.
The question is, which of these three things is going to be the thing that’s going to make the biggest difference for you?
Is it freeing up cashflow, is it reallocating profit, or is it expanding your time through hiring instead of saving time?
Send me a message on Facebook; I’d love to hear which of these three things you’re going to prioritize … or if you don’t know we can chat about it, and find an answer together.