One of the advantages of being a business owner compared to a regular employee is the ability to be able to control and increase your income – especially when you need a cash injection.
In this episode of Influence by Design, we share 3 ways to make money by the weekend. These are proven strategies that Tim and I have both used to bring in additional income on short notice.
As an entrepreneur, adopting a proactive approach instead of a reactive one puts you in a much stronger position. Relying solely on customers to approach you for purchases is not a sound business strategy.
Knowing that you have the ability to bring in extra funds, whether for your personal life or business, will definitely come in handy when the need arises.
Let’s dive in…
IN THIS EPISODE YOU’LL DISCOVER:
- The importance of initiating sales conversations (03:30)
- The offer you can make to existing customers (09:15)
- The impact of ACTUALLY making an offer (13:50)
QUOTES
- “The faster you launch an offer, the faster you get the feedback.” -Samantha Riley
- “Sales are made in conversations. The more intimate you can make that conversation, the more likely you’ll make a sale.” – Samantha Riley
- “We often overthink how perfect something needs to be before we launch and this is one of the biggest mistakes we can make in business.” -Tim Hyde
- “Our ability to succeed in business is directly tied to our ability to take lots of ideas and influences and filter them down into actionable plans” – Tim Hyde
RESOURCES
3 Proven Strategies to Increasing Your Sales.. TODAY!
Influence By Design Episode 101: The Riches Are In The Niches with Tyson Franklin
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WHERE TO FIND TIM HYDE
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CONNECT WITH SAMANTHA RILEY
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TRANSCRIPTION
Samantha Riley (00:00):
Look, who are the people I’ve spoken to? And what do I need to do to reach out? It also is really great to have those conversations because your clients can tell you other things. Sales are made in conversations. But also, without having the conversation. We don’t know what extra gaps there are to fill.
Tim Hyde (00:18):
Taking that even one step further to then be able to position that to ask how else can we help you gives us the opportunity to introduce what leads to refer to other people, but also introduced new products and services, where we see a consistent need across the customers that we’re serving. Again, we don’t do it often enough to understand what our customers need.
My name is Samantha Riley, and this is the podcast for experts who want to be the unapologetic leader in their industry. We’re going to share the latest business growth, marketing, and leadership strategies, as well as discussing how you can use your human design to create success in business and life. Inside and out. It’s time to take your influence, income, and impact to the level you know you’re capable of. Are you ready to make a bigger difference and scale up? This is the Influence By Design podcast.
Welcome to today’s episode of Influence By Design. I’m your Thursday co-host Samantha Riley by the dapper and always lots of fun Tim Hyde. How are you today, Tim?
Tim Hyde (01:22):
Clearly no one is watching today’s video of this episode.
Samantha Riley (01:26):
I actually like your show, I told you I liked your shirt, it looks very summery.
Tim Hyde (01:31):
It is very sound right? It’s not. At all summary, I feel like I need to like suit up for something that’s not at all summary here in cameras today, as we rapidly approach winter. But it is good to be back. I feel like I’ve missed a whole bunch of episodes just been so busy lately. That would
Samantha Riley (01:48):
be because you have missed a whole bunch of episodes. But you’re back. And that’s the main thing. And today we’re going to talk about three different ways that you can make money by the weekend. Because sometimes in business, we do need to have a little bit of a cash injection, whether just for fun, because we want to or, you know, every one of us I’m sure has been caught out once with not having enough GST in the bank. Or maybe you just you know, want to buy a house or you decide you want to buy a car and, you know, in business, we’ve got the opportunity to be able to bring in money in a sum a lump sum, which our counterparts that are employees just don’t have the opportunity to do.
Tim Hyde (02:32):
Yeah, absolutely. Absolutely true. I’ve been having so many conversations lately, with the increasing interest rates and, and just concerns about the price of everything. And how people are managing financially. And you’re absolutely right that, you know, just being able to control that income. If we want to, for whatever reason, as you said, you know, could be a GST bill, it could be an unexpected, you know, Bill from a plumber, as I’ve just received, you know, something that we not necessarily expecting or planning for. And then we come and we if we need that extra cash, we can create it on very short notice. So I’m going to share with you three ways that we’ve done it in our businesses where we’ve need short term injections of cash to do whatever we want to do. Yeah, go on holiday,
Samantha Riley (03:17):
I was just about to say like when a cruise deal comes up and says you have to leave next week. And you’re like, actually, I’d like to do that. This is a great way that you can do that. Well, let’s start off with number one. What is the very first thing on our list him
Tim Hyde (03:33):
look for number one, number one for me is literally pick up the phone. And I know, the sort of the idea of picking up the phone and making sales calls brings a cold sweat to most people. But it’s surprising. And you said off here, Sam, something that I that I really love here is that sales are made in conversations 100% or more intimately can make that conversation, the more likely it is that we are going to make a sale. So if you can get face to face with someone that’s going to be more powerful than picking up the phone, which is going to be more powerful than sending an email which is going to be more powerful than potentially doing nothing and just hoping people buy from you. Too often we default to the easy comfort, non confrontational potential space of actually not picking up the phone or chasing leads or you know, in some cases, I know some former clients are fine we found out that you know they haven’t even followed up leads for there might have been six months old and just got a little bit embarrassed about it at a certain point and again, it’s been three weeks you can’t possibly still want to hear from me I was telling you about another Sam that I know who six months after dealing with a prospect and hadn’t sent the quote because he got embarrassed about it bumped into the guy in the supermarket, who said have you ever got to send me that quote over
Samantha Riley (04:58):
so clearly six months That’s later by him saying that. What’s crazy about this story to me is he obviously wanted to work with that person. All he wanted was the quote just to tick that box and go, yep. Okay, I’m going to work with you. So, you know, how many other I guess, things are we leaving on the table? It not necessarily even quotes, but, you know, how many leads do we have? Or how many people have we spoken with? That we’ve just kind of let slip? I think it’s really quite beneficial to go back regularly and have look, who are the people I’ve spoken to? And what do I need to do to reach out? Whether it’s pick up the phone? conversations don’t all happen over the phone, like you said, maybe it’s sending them a message on Messenger or, you know, a DM through Instagram? Or a personal email, just say, Hey, you just popped into my mind, we haven’t had that conversation? Or, you know, how’s it going?
Tim Hyde (05:58):
Is this something you’re still looking to do? I mean, I found, I think, often we just send stuff into ether. And you know, hope that that person is going to come back and buy from us. And it may just require a little bit of phone call to maybe realign expectations, or they’ve had other priorities, or, or whatever it may be, they never received, you know, the proposal in the first place.
Samantha Riley (06:19):
I going back, it would have been probably three or three or four years ago, I’d had a conversation with someone about joining his program. And we hadn’t had a conversation in a little while. And I had completely forgotten about it. It wasn’t that I didn’t want to work with them, or, you know, just stuff came up, completely forgot about it. And then I put a post on social media one day, and he reached out to me in the DMS and went, Hey, I just saw that and blah, blah, blah. By the way, are you still interested in working with me? And I was like, You know what, let’s tee it up right now. Because it had just slipped my mind, you know, we get busy. And I think that that’s something that we always need to remember is we’re not the only busy ones, our prospects are also busy. And just to give them a reminder, hey, is this this still something you might be interested in? Might be the exact right time for someone to say, You know what, let’s just action that right now.
Tim Hyde (07:13):
Yeah, the reason I like making phone calls or getting face to face with someone is that it’s, you know, think about your competitors, your competitors, here, we’re actually setting a really low bar. They’re probably doing what you’re doing right now. And so it’s it’s easy to kind of stand out from everybody. In fact, just before this podcast, Sam, I was on, on a call with my client, Marcus. And we were going through his sales pipeline. And one of the things I’m not a sales coach in, if you want some serious sales heels, we can certainly recommend people in that space. But we were going through just here’s your pipeline, let’s pick up the call phone and start calling people who at some point in the last six months have actually reached out but we may not have necessarily gone back to them. Because we’ve had, we’ve been busy. And it was interesting, because we just picked one that popped up into the inbox last week, and called and the woman on the other end of the phone seemed almost incredulous that someone had gotten back to her. And someone I’d gotten back to, like in a phone call.
Samantha Riley (08:18):
I know it’s so rare, right? Super stands out.
Tim Hyde (08:22):
It’s like, Wow, all right. And immediately, you know, within 32nd phone call, we’ve now arranged a site visit to come out and look at what they’ve got to what what they’re trying to achieve, which immediately puts us in a different position to every other person that clearly she reached out to a couple of people. And but no one’s gotten back to it. So you know, we when we think about marketing, we do all this work to generate leads. And then if we don’t call them, yeah, we’re leaving opportunity on the table for growth in our own business. Left, right and center. And you know, it’s not hard to pick up.
Samantha Riley (08:55):
Yeah, 100%. So that is a really great way to bring some sales to the front is to call, you know, proposals that are outstanding, or leads that you’ve spoken to in the last little while. I really love number two, this is actually one of my favorites. And that’s to reach out to existing customers and offer them something new, offer them some sort of upsell or offer them some sort of extra something to what they’ve already got. This is obviously something you’ve done as well, Tim.
Tim Hyde (09:27):
Yeah, I think it’s one of these things that we don’t do often enough. And lastly, the reason for my absence recently has been doing I’ll be doing a lot of one to one consulting work with clients. And every time I suggest to someone that we pick up the phone and call the last 20 people that have bought from us and asked why they bought and what they liked about our service. You know, it’s like, I’ve never done that. I’ve never done that. But you know, taking even one step further to then be able to position that to ask how else can we help you You gives us the opportunity to introduce well either refer to other people, but also introduce new products and services, where we see a consistent need across the customers that we’re serving. Again, we don’t do enough and enough to understand what our customers need. And we’ve all heard stories, right? And we’ve all heard stories of where, you know, you do a thing, and then your customer is gone and bought that from somebody else.
Samantha Riley (10:23):
Oh, my goodness, that is so frustrating, isn’t it? So frustrating?
Tim Hyde (10:27):
It’s absolutely frustrating. And it’s just because we haven’t either framed what it is that we can do for a client and show them the roadmap of where we can take them. But it’s also because you’re just failing to ask what else do you need? How else can I serve? You?
Samantha Riley (10:42):
Totally. The reason this is one of my favorites is this is generally how I have added new product suites or added a new product or a new service to what we’re already doing. And back in 2020, I had this idea What if I could loan my team, to my clients to help them implement faster, it was just an idea I had, I didn’t know if it had legs. So what I did was I reached out to a small portion of my existing clients has said, hey, look, I’m thinking about giving you access to my team of web developers and content writers and graphic designers, it would cost an extra this much is that something that you’d be interested in, you know, I can only offer 10 spots, because I’ve never done it before. I don’t know what’s going to break, you know, this could, you know, blow up in my face. So I’ve only got this many spots.
Tim Hyde (11:38):
And I might need those people myself. Exactly.
Samantha Riley (11:42):
So I just did that. And within that same day of reaching out to people, I had those 10 spots taken and people have upgraded. So clearly that had legs and that has taken off. And now we have a much bigger group of genies that are helping my clients. But not only is this a really great way to add income by the weekend, or to bring in money by the weekend. But this is also a really great way to launch new products or services, and see if it’s got legs before you you know, launch it in a bigger way.
Tim Hyde (12:13):
Yeah, I absolutely agree. And again, it’s just having the courage to ask how else can we serve you? Right? You don’t have to say yes. Yep. To whatever they’re asking for. Exactly. But it does give you an understanding of what else were the other pain points that your customers have are. And I think as you’ve discovered with your genies, Sam, it does make you a lot stickier with your clients as well, because they suddenly like, wow, this these guys were amazing, right? They’re really helping me grow.
Samantha Riley (12:42):
Yeah, actually, just on what you said, then you just got me thinking. It also is really great to have those conversations because your clients can tell you other things. So with Leon, my husband has a business called your podcast concierge. And he reached out to a client about a month ago and said, Hey, look, we’re thinking about offering this service. So the same sort of thing. Is this something you’d be interested in? And what happened was a little bit different to anything that had happened before. He said, Yes, I would be interested in that. But I also would be interested in, you know, A, B, and C. And what ended up happening was, Leon ended up creating a product that was way bigger than first imagined, and obviously can charge a lot, you know, a much higher fee for that as well. So what I love about this, and this goes back right back to what you were saying at the beginning of the episode disables amazing conversations. But also, without having the conversation. We don’t know what extra gaps there are to fill.
Tim Hyde (13:45):
Yeah. And that really comes down to number three, I think. Absolutely. All these things are great, but not as good as actually making offers. And I’ve got this note on my whiteboard. I can’t recall if I got it from Frank Kern, or Alex or Mozi might have been one or two. And obviously that pepsin some common influences in both, but business is pretty easy. Alright, step one, make more offers step two, follow up lots. Step three. Stay focused on step one and two.
Samantha Riley (14:15):
Yeah, exactly. And that is, that is the simplicity of what we need to do to be able to grow our business.
Tim Hyde (14:23):
Yeah, I don’t think it’s a it’s a Frank Kern quote. But, you know, he is really absolutely relentless in following up, you know, on the office that he makes, and he makes them regularly, at the risk of probably annoying a few people, but they will probably never his customer in the first place.
Samantha Riley (14:37):
Exactly. And if you’re constantly thinking about who you’re going to annoy, it’s a very defensive way to play business and we don’t want to be playing defense we want to be playing in offense.
Tim Hyde (14:48):
Well, you know, coming back to the examples we were giving you that you and I, we made an offer at the beginning of COVID March 2020. Everyone’s like, oh my god, the world’s coming to an end the sky is falling very much chicken. Is it Chicken Little disguised as it is yes.
Samantha Riley (15:06):
Last year in the past,
Tim Hyde (15:09):
but we came up with knowledge business launch formula. And I think we’ve called the whole thing together in two and a half weeks, it was crazy, quickly how we’ve gone, we need to realign and we need to come up with something that that we were hearing from our clients by asking them, how else can we help you. And we did a JV around the knowledge business Launch Formula. Yeah, and literally launch that, to 20 your clients in two and a half weeks.
Samantha Riley (15:36):
That was from the initial idea to actually delivering the first session. So in that two and a half weeks, it was we came up with the idea, we put the marketing together the webinar, the content, the whole bit. And yeah, we took 20 people through that, we were like a duck,
Tim Hyde (15:53):
absolutely calm as a cucumber on the surface, frantically swimming underneath.
Samantha Riley (16:00):
It was a fun time I remember it, I enjoyed it, I thought it was great.
Tim Hyde (16:05):
It was a lot, it was a lot of work. But we can make offers. And we can get them up and running really, really quickly. And I would encourage people who are thinking of making an offer to the network or to the audience, you know, put together a case study group, you don’t even necessarily need all of the content. You just need to be able to make the offer and see who responds to it. Totally drop a sales page. In fact, you don’t really have to throw up a sales page
Samantha Riley (16:29):
don’t even need that. You can say, hey, we’re doing this, if
Tim Hyde (16:32):
you’re interested, call us we’ll have a chat. If it’s a good fit, we’ll take your money, and then we’ll go and deliver it. Right. There’s not you know, I think we often overthink how perfect something needs to be before we launch 100%. And I think that’s one of the biggest mistakes we can make in business. I could not agree more nobody and hoping you could come Kevin Costner was not correct.
Samantha Riley (16:53):
No, he was not. And I think that the faster you launch an offer, the faster you get the feedback that you know what we did with kB elf that I think that sort of set the foundations for me, I’ve always been quite quick to market. But that particular one made me realize no, you have an idea. Just put it to market as soon as possible.
Tim Hyde (17:15):
I think we did. I can’t remember I can’t recall. Now. I think we launched KB LF, two three times. That’s about 30 people also all up, you know, certainly during that first year of COVID. And you know, the first version was not the same as the third version. There was still was value for clients. But you know, we, we took that feedback, and we kind of put it back into the program and got some incredible results for clients because we listened to what they actually needed.
Samantha Riley (17:42):
Absolutely. Were thinking back, and I will link up the episode in the show notes, where you and I interviewed Tyson Franklin, who when he came in to KTLA from the very first round. And I remember halfway through even he was like, hang on a minute, what are we doing here? He want me to launch in the next 30 days. Like, even though that’s what it signed up for. It hadn’t kind of occurred to him. His business now is going gangbusters. And it all was off that very first launch that he that he did in that first 30 days. So
Tim Hyde (18:17):
completely changed his business model, not just for that launch, but ongoing as well.
Samantha Riley (18:21):
100%. Yeah, so I’ll link up that episode in the notes. But let’s review that. So three ways that you can make money by the weekend. Number one, go back and contact any outstanding proposals and any leads, or potential leads that you’ve spoken to, in the last 30 days, 60 days, 90 days, maybe even six months. Number two, reach out to your existing customers and find out how else you can help them or make an offer for an upsell. And number three, make an offer, make an offer doesn’t matter what the offer is just make an offer. Tim, I know that you have got a free resource that goes into this in more depth and includes all sorts of additional resources. Can you tell us a little bit more about? Yeah,
Tim Hyde (19:08):
so this is actually something I wrote several years back, I think it might have been for another podcast. But I was exactly faced with this situation that we talked about. I was like, I’ve got a bill, I need to work out how to pay it. What can I possibly do and, and tried a bunch of these different strategies, which all sort of really helped. And I know people, I certainly know people that have done this and made literally hundreds of 1000s of dollars, I didn’t quite need that much, which was good. But if you jump over to my website, more clients.com.au forward slash three and number three strategies, the link will be in the show notes as well. I do have a resource that goes into this and it gives you some things that go into some call scripts as well and give you some other examples of how you can do this and how you can even think about what you can put together. So if that’s gonna be a valuable resource when more clients.com.au forward slash three, the number three just strategies. Okay, so look, if you are in a situation where you do need some quick cash, for whatever reason, jump on one of these three strategies, one, two or three of them if you need to. And I think you’ll find very, very quickly if you start putting this into your business strategy on a regular basis. Don’t do that all the time. But when you need it, you’ll find that you get these little bursts, which I think pushing forward.
Samantha Riley (20:24):
Love it. Love it. Thanks so much for listening to today’s episode we will catch you next week for another episode of Influence By Design.
Thanks for joining me for this episode of the Influence By Design podcast. If you want more head over to influencebydesignpodcast.com for the show notes and links to today’s gifts and sponsors. And if you’re looking to connect with other experts who are growing and scaling their business to join us in the coaches, thought leaders, and changemakers community on Facebook, the links are waiting for you over at influencebydesignpodcast.com
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