If this year has taught us anything, it’s how to be resourceful in both life and business. So many people have had to learn new skills and really dig in to how they can keep their businesses up and running (and the doors open). But what happens when you’re at the end of your creative rope, and you don’t know how to increase that bottom line?
You’ve probably heard the old saying: You have to spend money to make money. Who hasn’t? But what I want you to know is that it’s not true. Friend, you don’t actually have to spend money to make money. All you need to do is maximize what you already have.
Here are three ways to make more money in your business (without going into debt):
Maximize what you already have
One key to maximizing your profits is by maximizing your mind. Yep, I’m talking about brainstorming. By using the skills, knowledge, and experience you have, come up with a list of additional sources of income for your business in this season. Look at your inventory, try selling your products in bundles, or give out samples.
Maximize your money
There’s a big difference between a hobby and a business. A hobby costs you money, but a business makes you money. I want you to look at your numbers, because if you don’t know them you can’t improve them. Where can you increase your prices? And what expenses can you cut?
Maximize your connections
Every opportunity you’ll ever have in your lifetime will come through people. That means no matter what type of business you’re in, you’re always in the people business. Who can you reach out to? Who can help you get to where you need to be?
Go out there and make the rest of this year count. When you focus on maximizing your skills, your money and your connections, there’s no telling where you can take your business!