How To / Startup Life

Understanding The Rules Of Generating $1,000 A Month In Revenue

Last month, Unilever bought The Dollar Shave Club for $1 Billion dollars cash. Let me just say I celebrated their win with so much joy as if it was my start up. The founders of this business solved a problem that men all over the world were having. They leveraged it into a Unicorn business. What’s crazy you can do the same thing starting with the $1,000 a month in revenue you make. You see after you make your first $1,000 in one month it energizes you to continuously do it. 

Know The Numbers

Your goal is to bring in a $1,000 a month means you need to make on average $34 a day. How many products in your store start at this price point? How many combination products would it take to make that sum? The issue that arises so many times is you don’t know have the right prices set to achieve your goals. Too many people are thinking are aligned with 100 customers + $10 per order. Thats too much work. You want to get them buying higher prices points meet your goal.

Diversify Products

One product for your company is not going to cut it. Your audience needs options when buying. For example, if you’re a t-shirt company you need variation in the products you offer. That means providing the shirt in multiple colors and sizing. It baffles me to go to a website and the person offers three products. You’re missing sales by not giving options. Provide array options from the select from. If you have a best seller make sure to add more to the inventory.

6 Tips On How You Can Reach $1,000 A Month In Revenue Without Gimmicks.Tiered Pricing

Right now, my product or service price point starts at $5 and goes up $375. There is multiple ways for my customers to get their needs met without breaking the bank. Let’s use the example that you’re a jewelry company and I am shopping your bridal section of your website. I purchase my “Mrs.” earrings for $25 below those earrings I as a customer need to see “customers also purchased” or “similar items to purchase”. This is opening the door to have me step up my purchase. Now, I see pearl necklaces for my bridal party and maybe even a travel jewelry bag.

Think Outside Of The Box

For months, I was racking my brain on how I could met my audience members who wanted to work with me, but could not afford my hourly rate. I was truly stumped on it was possible without lowering my rates and feeling like I was cheapen myself and brand. This is something I would not even suggest a client to do. Instead, I put the process on the back burner. Then one day I thought of “Buy Tasha Coffee“. Most bloggers and influencers already done this asking for donations. You see, I didn’t just want my audience to give me a donation and not receive something. Depending on the coffee level they purchase they can ask a certain number of questions. Brilliant in my opinion and my audiences too. They were excited to work with me. My goal is to bring an additional $500 to $1,000 a month with this.

Email Marketing

A plethora of small businesses are lacking in the email marketing area because they’re overwhelmed. Let me tell you know this has been my companies saving grace. When, I send out a newsletter I receive triple the traffic to my website and customers orders start rolling in. Last week, I talked about The Basics of Email Marketing You Need To Understand, sharing some tips to help you. You see every morning millions of people check their phones before brushing their teeth. If I check my phone before brushing my teeth I am guaranteed to lay their an extra 30 to 45 minutes. Looking at all the email campaigns and adding things to my cart. You need to be in your customer inbox minimum of once a month.

Enlist Past Customers

My best marketers are the ones you have invested in my business with their finances. I need you setting an alarm once a month to send follow up emails with your customers. After the following month ends by the 5th of the month everyone who ordered the previous month should be receiving an email asking them how everything is working. Then send another one in 90 days. This might seem like a plethora of work but you need to get an understanding of your product. Finally, ask those same customers to share your business. Every chance I get I am repping businesses that I have supported. You know why, I want them to win and I want to introduce them to my audience.

These are the six basics of establishing a $1,000 a month revenue for your business. Please know this takes time and its possible. You are able to do this and exceed this amount.

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Imperfect Concepts is the premier destination for the creative women business owners looking for how to guides, tips, motivation & inspiration.

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