Creating Revenue: 3 Strategies for Profit

What if I told you that making revenue wasn’t limited to standard lead generation?

I’m about to. 

Though I’ll probably word it differently so it’s less cringy than just stating it back. 

Nearly everyone focuses their revenue generation on bringing in net new clients. But when we do this, we neglect two other sources that are awesome for increasing your bank account. 

In this article, we’ll explore the three ways to drive revenue for your business. 

How to Create Revenue 

First things first.

Money is the lifeblood of our business. 

When recurring income outpaces recurring expenses, we win. 

So we want to do everything possible to drive recurring revenue to our business. Yet, still, so many agencies focuses on projects for their primary source of income. 

Go listen to my episode of Agency Life where I break down the five types of offers. It’ll paint a better picture of what you should be doing for revenue. 

So, if we need recurring revenue, the first thing we need is clients. And that’s where strategy one comes in. 

1. Collecting Clients

Collecting clients is the normal process of lead generation. You have an offer; people buy the offer. 

It’s simple, right? 

Wrong. 

Otherwise, more agencies would be crushing it for lead gen. But most agencies rely on referrals, and while that’s technically “collecting clients,” it’s an avenue you have no control over. 

We don’t want to leave any portions of our business to chance. 

So, the trick to creating clients is to identify the problem they need solved and then to deliver results at a high level of expertise. 

You can use my PRISM Model to identify whether a problem is deserving of a business solution. 

From there, create that compelling offer and attract people through whatever means. 

Bonus: Check out the 5 types of offers your agency should use. 

2. Creating Clients

Creating clients is a bit different. 

Here’s the thing, not everyone is a fit for your business. 

Not everyone is ready to buy now. 

But! We can create our ideal clients by catching businesses early and providing smaller offers that guide them toward working with us. 

These offers will build a ton of trust if they can actually deliver on your promise. And because people have seen results with you before, they’re more likely to work with you again. 

This Alex Hormozi’s approach with Aquisition.com. They provide free educational material to small businesses in hopes they grow to a size where they can be added to the portfolio. 

Companies that follow the Hormozis’ advice and see success help to spread the message and will likely work with Acquisition.com if given the chance. 

Creating clients is usually done DIY style. You don’t want to spend a ton of effort on these clients because they’re not yet your target audience. 

Because of this, DIY or group environments at a lower price point are perfect for attracting clients. 

The trick, though, is being able to deliver results so the people actually move into your ICP and want to work with you. 

3. Catalyze Clients

Last is catalyzing clients. This involves ascending your current clients into higher-tier offers. 

This is done through your Next Offer and should be tailored to the next step of your client’s growth path. 

At some point, clients will churn. There are lots of numbers floating around out there, but planning for 10% churn is a safe bet. 

To counter this, you’d need to bring in 10% of net new clients. More so if it’s revenue from clients you’re creating instead of collecting. 

But, if you can get your current clients to ascend at specific milestones, you can offset that lost revenue through catalyzation. 

If you’re counting on collecting clients, growing your business means you now need 10% PLUS whatever is required to achieve your goals. But if you can ascend clients to offset your churn, it means all clients are driving net new revenue. 

Strategically Deploying All 3

You need to put all three of these strategies to use if you want to make the most of your agency’s lead generation. 

Collect, create, and catalyze. This is the secret to building an agency that’s an asset. 

If you want to see how we can help your agency make the most of of all three, book a call and we’ll chat through it.