00:00

Welcome to Make More Money without Selling Your Soul with me Polly Lavarello, evergreen marketing expert. This podcast is for you if you are an online entrepreneur who is looking to simplify their business to scale.  On this podcast you can expect to hear regular talk about wealth, about selling and about wellbeing. Because I believe these three core fundamental things are pivotal to your growth moving forward.

00:44

Hello, and welcome to make more money without selling your soul with myself Polly Lavarello, evergreen marketing expert and cushy business pioneer.

And today we are talking about cashflow. And let’s face it, it is the life force of your business. You know, sales are integral for us to feel like we have a successful business. And quite frankly, there comes a stage in business where you have recurring outgoings in terms of your team, your systems, your tech stack, which I guess could go under systems, which mean that, you know, it’s not just a simple matter of being able to pay yourself, but their fear of going into debt or potentially not being able to pay contractors. If your business isn’t solvent. It can be a very emotive thing. I mean, it can be it is an emotive thing to think about, it’s the thing that leaves a lot of really successful, really incredible business owners suddenly paralysed with fear, suddenly jumping into reactive decision making, like hiring a really expensive mentor and putting all the pressure on that mentor being the one that will bring them all the success they desire, or doing that live launch and pulling it forward. Even though it’s hard to do, even though it means pulling lots of extra hours, because the money’s got to come in. It’s throwing all your time and heart and energy into creating a brand new offer in the hope that that will be finally the offer that makes running your business easy.

02:25

I mean, needless to say, It basically puts us into a state of fight or flight. And that can leave us either absolutely paralysed in a state of inaction, where we’re not doing anything where we’re literally burying our heads in the sand, afraid to come up, maybe you know, and that can show up as people getting physically sick, physically ill. Their body’s saying I cannot take this hiding away in Netflix, bingeing emotional eating. I mean, it can it can, it can look like so many things running off on a holiday, losing your phone, so you don’t have to actually answer any messages. I mean, it’s I’m not I don’t I’m obviously talking about this.

03:10

I don’t want to say jovially. But I just want to kind of say that while I’m not sharing this with a really serious voice, I’m not also underestimating the real, genuine damage that financial stress can do to people. I mean, it’s it’s scary, right? It’s scary. So there’s that there’s the there’s the you know, the kind of paralysis response to stress, which is just not doing anything. And in some cases, even worse, actually, going out your way to kind of essentially burn down your own business, to create scenarios that kind of allow you an easy get out because that feels safer and more manageable than that unknown as to where money’s coming from. Gosh, this, this episode feels heavy. But don’t worry, I am going to be sharing some things that’s going to really help you right, so So don’t let the tone what I’m sharing with you now put you off, I guess the main thing I really want you to know is I get it, I really, really get it and why can I talk with this level of like if it’s as if this is bringing up anything visceral and you know that it is in me to I can feel my stomach going into knots as I share this with you. So if it’s bringing up anything for you just just just be safe and knowing that I’m about to share some but it also I guess the main thing here is just don’t feel alone, don’t feel alone. And also, hopefully, in hearing this kind of breakdown in might also help cast some light. It might help you recognise oh my god, is that why I was doing that? It was fear. It was fear running the show. The other thing of course, the opposite of paralysis, which is almost as deadly, if not potentially worse. Is that kind of reactive thing that people do where like you know where you’re suddenly throwing yourself or your team into launching and working crazy long hours, making really bold investment

05:00

Since in the hope that when I’ve energetically put it out there, I’ve just spent 1000s of pounds on something. So surely that’s going to be the thing that results in what it is that I need. People can do really extreme things, the extreme of doing absolutely nothing, the extreme of kind of burning your business down to the ground. And the extreme of putting yourself under immense pressure by making big investments that you hope will bring the change. Because you don’t feel like you can do it by yourself. Like what you’re doing so far, obviously isn’t working. So it has to be big, it has to be scary. It has to be a huge investment or it has to be a big stressful, live launch where you pin all your hopes and dreams. I mean, believe me, this is one of the reasons why I left being a Facebook ad manager because I’d had people reach out to me they’re like, yeah, no big deal, but I need to make 100k In the next two weeks, I’ve got a big tax bill coming in. So we’re launching, we’ve launched this before, it’s gonna be alright. But yeah, two weeks. That’s right, right. And I’m just like, No, no, thank you been there done that worn the t shirt. Know how unpredictable live launching can be no frickin way.

06:08

Particularly because the majority of them are like, oh, yeah, the only loads I’ve done before I made five but I can get to 100. Right in two weeks? No. Okay, so money is important. Cash flow. So important. Like I shared in the previous episode about my launch, one of the reasons why I can talk about it in a light hearted way. The reason why I can refer to a B testing and how it didn’t didn’t work in a way that there’s no ego attached to it whatsoever, just pure scientific, kind of, like response to it, is because I have cashflow in my business. Okay, and it’s something I don’t talk about very much. I’ve never even really fully understood what cashflow experts do.

06:54

But what I will say is I have learned how to generate recurring cash flow in my business, I’ve learned how to create a business model where there’s enough recurring revenue so that I can take the whole of August off this year, so that I can always have my Christmas holidays off my kids. So that I can work a three and a half day working week and take one week with no calls each month. I’ve built a business that truly works for me hence why I like to talk about cushy. And as I’ve shared I’ve know anyone who’s been in my world a while will know that I don’t talk about cushy through the lens of bougie business owner, although there is that a bit that’s the fun side. But I talk about it also through the lens of being a mum of children who have additional needs, who have ageing parents who have you know, like carer roles left, right and centre, and various other real life pressures, which means that, you know, I can’t afford to be a five day a week business owner, I can’t afford to be someone who switched on all the time. And the way I work and I imagine it’s not dissimilar for you. I plough a lot energetically into my clients a lot. My brain is doing brain a Olympics for my clients, and I love it, I wouldn’t have it any other way. I know I invest 120% In my clients in a way that is unusual in this industry. And I know as a result of that, I get tired and I need my refuel time I need my massage. I’ve got booked into my afternoon, I need my nail appointments, I need all the nice things that I do for me, because that enables me to be the best, the best investment my clients make. Okay, so, you know, it’s similar for you like cushy business, and cushy cash flow is something that is not a luxury, most people need it. Another phrase my clients hear all the time is build a business for the bad days, we should never just build a business based on Oh, well, if I’ve got loads of time next month, because that never, ever happens. He just doesn’t whatever is your norm generally tends to stay on arm unless you proactively go out your way to make it different. And most of the time, even when you try, the universe will throw you a curveball. So ultimately health, whether it’s your own, whether it’s a loved one, whether it’s you know, political or environmental, there will always be curveballs thrown at us. And as small business owners, we need to be agile. And consistent. Cash flow is a way to guarantee that agility and also enable you to do things like go to the gym, or booking that regular massage knowing that you can afford to that’s so important. Like if you don’t know, you’re going to be able to afford these things month to month. Of course it’s going to feel stretchy, investing in yourself, doing nice things for yourself. When you recognise that you are the main cog in your business machine and you’ve got to keep that cog well oiled. You will go out of your way to do that. And it’s easier to justify that when you’ve got the money coming in. So I’m hoping almost 10 minutes into this episode. I’ve convinced you that cash flow is good, too.

10:00

Taking care of you is good. And that reactivity is not essential to creating good sums of money. We don’t need to do anything stretchy or scary No matter how many manifestation things you see out there about taking the leap and the world catching you. I actually am a big fan of cushy business growth, and cushy business growth doesn’t require leaps. It requires truly deeply listening to yourself and what you need, and figuring out the simplest way to generate revenue in a way that feels good for you. And yes, I even slow down to share that with you because it’s so frickin important. This motormouth slow down to ensure that that landed, because it’s so important you build a business that feels good for you, because that my friends is a sustainable business. Now let’s get into the cashflow, shall we? That’s what you came for. Right? I just put you through so much like PTSD, talking about how horrible it is to not be making money. Let’s talk about how to make money now, shall we? Okay, so what are the five ways to generate more revenue in your business, without creating anything new, without live launching, without doing anything dramatic or revolutionary? Well, here we go. Let’s, let’s get straight into it. So firstly, this is such an important one. And I’m going to mention the D word.

11:31

We’re gonna start referring to as the D word, because I just think people are gonna like data. But yeah, data darlings data. I want you looking at your data. Because if you want to know one cool way to increase your revenue, is to increase your sales conversions. Firstly, where are your sales conversions coming from? You know, what sales page are people landing on? Do you have any passive offers, even if you don’t have passive offers, if the way that people come to buy from you is from a page where they’re invited to book a call with you isn’t working? All the buttons working? Is you know, are you looking at the data? Are you looking at how many people click on to know to apply to work with you and those who actually do? Have you ever tested changing the questions or anything like that, to see how that improves the conversion rate. What I’m saying here is, is as an online business, you have a variety of tools, which steer people towards either booking an inquiry with, you know, booking in a call, or buying from you. And one of the simplest ways to generate more revenue, particularly when we’re looking at long term gains here is to increase the conversion rate. Okay, so looking at what you’re already doing. Now, of course, if you’re already doing phenomenally, I’m a huge advocate for don’t fix what ain’t broke, okay? Please don’t. And if you do AV test, you know, test both before you kind of commit to one or the other. You know, be mindful. And when you’ve changed it as to whether you might need to change it back, make sure you’ve created a duplicate. So it’s simple and easy to do, should you need to. And don’t worry, I’ve got four other ways to make more money if this isn’t your weak spot. But it’s a really, really prominent one, the amount of times I’ve talked to people about their SEO, about the traffic to their website, about their link tree, about various things that if they just improve those a bit, the number of traffic going through to their site would result in more sales. It’s a no brainer. And sometimes people even say to me, oh, but only average, like, I don’t know, 3000 hits a month. I’m like, Yeah, but if only 1%, more of those converted, what would that look like for you in terms of sales, and most of the time their jaws drop? Okay, so it’s six simple, it’s not particularly sexy. In fact, none of these are very sexy. And that’s why they’re overlooked. And that’s why a lot of people, you know, rather than kind of focus on what you already have, rather than water, your own grass, you’re looking at the green grass that your neighbour has stop looking at your neighbor’s grass, water, your own grass, and see how much more money you get to make. So I’m going to share with you tip number two for watering your own grass. And that’s increasing your prices. So simple, right? You know, it comes back to that whole thing of like, want to make double the money, double your prices. Now, I know it’s not always that simple. And obviously that won’t be relevant for everybody again, and maybe it’s not even doubling your revenue, maybe, you know, again, it’s looking back at what what you need. Now, cost of living. Everything’s gone up by what about 30%? It feels I don’t know if it feels or it is, you know, there’s a lot of things going on in the world right now that are influencing, you know, how we, you know, how expensive life is.

14:41

So have you adjusted your prices to allow for that, you know, all of my contractors last year, increased what they were charging, which left me in a predicament that I needed to increase my rates to otherwise as my accountant pointed out to me, I was

is going to be in a deficit. So I mean, I said, we’re not in a deficit. But you know, I was essentially not as profitable because I hadn’t increased my rates in the same way that they had. So make sure you’re not the last increase rates. And yes, that’s me being really honest about the fact that my profit margins went down last year, because I didn’t do that. Okay.

15:18

I can know this stuff doesn’t mean I’m always doing it. Okay. From from Auntie Polly, he learned the hard way. Okay, point number three.  Who is the person in your world who’s most likely to buy from you? Again? Your existing clients, your existing clients are the people who are most likely to buy from you. Yes, the people on your mailing list are six times more likely to buy than anyone else. But those who are something like 20 times more likely to buy from you are your existing clients. In fact, I saw a statistic a while back saying something like 80% of most seven figure businesses are generated from repeat clients.

15:57

So, put that in your pipe and smoke it? No. But yeah, do take that piece of flexpays. And look at you know, again, it can be so simple. Sometimes it’s looking at a one to one and thinking, I’ve been thinking for a while now, they could really do with, I don’t know, a VIP day where we do a deep, deep dive around a particular area I see them struggling with or you know, if only, you know, maybe I should, I don’t want and there are so many different things. It’s essentially looking at your clients and thinking, Is there something additional that I can offer to them? That’s going to help elevate their experience? And believe me, people love receiving invitations like that, all they have to do is say no, if it’s not a good thing for them, but the majority of the times, they’ll probably say yes. So that’s another easy win immediately under your nose.

16:41

The other thing you can do to make more sales is to have more leads to sell to in the first place. So you know, one of the things you can be doing, which yes, it’s not going to immediately appease your cashflow issues, but certainly one of the things that is future proofing you against cashflow issues is ensuring that you are consistently growing your mailing list. Okay, so you want to be consistently growing your mailing list with more leads, so that those people who are six times more likely to buy from you are growing all the time. Because I will tell you something for nothing having worked in the Evergreen space for four years now is that most people who are new to world will buy within the first seven days of joining your mailing list. And then the conversion rate slows down here, you’re mostly so the people who are most likely to buy from you are those new leads. So make sure you have some fresh enthusiastic leads, joining your list all the time and that you have a nurture sequence that is taking really good care of them. Okay, make sure you’ve got things in place to welcome those people into your world. And finally, what’s the other practical piece around creating more cash flow is executing better and more efficiently or faster, whichever, whichever word you prefer, but essentially, it’s recognising your most valuable asset is your time. And if you’re not using it effectively now, a statistic I heard the other day that blew my mind is that 80% of our results are based on 20% of our activity.

18:11

80% of our results are based on 20% of our activity. And while I didn’t want to believe that when I first heard it, as I reflected upon it, I was like, I can really see how that’s the case. Okay, and I bet you can too, if you take a moment to sit with it too. Now, now that you’re aware of that, what 20% of your actions that are generating 80% of your results. Could you be doubling down on? Is it networking that always gets your new clients? Is it direct outreach, when you double down on that, you’ll get double the number of sales? Look at what it is. It’s usually so frickin obvious. Once people land on it. They wonder that why they weren’t doing it sooner. Sometimes it’s as simple as getting on more podcasts, and again, just prioritising let’s say one Monday morning of every single month, reaching out to a few podcast hosts for whom you’d really love to be on their show because they’ve got a relevant following who could be perfect clients and you recognise that the majority of your sales have come from people who’ve heard you on a podcast could be any of those things. Now, if you’ve enjoyed this episode, if you’ve got some taste buds that are just doing whatever taste buds do when they get excited, have a little dance party around your mouth. I have created a brand new cushy cash flow recipe ebook, which is linked below this episode. I am so frickin excited about it. In fact, it’s motivated me to make recipes of all sorts of things in business because who doesn’t want to be the retro Nigella Lawson of the online business space? I know I do. So you’re gonna be seeing a lot more of that. And I’m so delighted by this new ebook. I’m calling an ebook workbook, whatever you want to call it.

20:00

Basically, it’s there to help you business owners, I am deeply, deeply passionate about women and business succeeding, being an online business owner has changed my life. It’s enabled me to be a strong, independent single mother, who, when I fell in love was able to ask my partner to work one day a week, so that he can support me with caring for my children who desperately need that, you know, care from somebody who’s stable, and they’re there for them all the time. And enabled me to do things like take them on holidays and things that I thought would potentially be impossible once I went the route of becoming a single parent, I genuinely thought at one stage, he would be on benefits forever, and eating beans on toast the rest of our lives. This business has changed my life. And not only has it changed the life of my children, it’s like my my self worth, my self trust, my growth

20:53

is all like, intrinsically linked to this journey I’ve been on it’s really shown me who I can be what’s possible, and I wasn’t planning to go on this. But it really has changed changed my life. I just, I don’t think I can imagine my life without this work. And so when single moms reach out to me, when parents of autistic children or ADHD children, when business owners themselves who are you know, juggling what it’s like to be neurodiverse and navigating this online space. I’ve been when anyone reaches out to me inspired by this journey and tells me they’re on it too. And tells me this podcast is helping them.

21:33

I can feel my heart folder sharing this, it’s it’s just everything. And one of the things I know really is the first thing that defeats a business owner, as they get started in this world is lack of cashflow. If there’s one thing that prevents a business owner from continuing that journey, like I can’t remember the stats off the top of my head. But there’s a really ugly, small percentage of business owners ever hit six figures. And even worse, you know, for females even lower, and so many self employed business owners that go back into employment within a few years of having started their own business. I’m desperate to be part of the change. I’m desperate to create a world where there is less of that going on. And cashflow plays a huge role in that. So that is why I’ve created a freebie to support you specifically with that, because I know that’s what’s gonna give you those solid stable ground like solid stable ground, to feel confident in your ability to generate revenue, so that you then have the space to be looking at the other things I love to support with like how to create superior elearning experiences for your clients, how to scale your business, how to build your own cushy business empire. But it all starts with those solid stable grounds are feeling confident around creating consistent revenue. So as you can probably tell, I’m really, really so excited to be getting this ebook into your hands. So do check out the link in the show notes below. And yeah, message me the word. No, don’t do that. I’ll sort out or many bought word for that for the next episode. For now just look at the show notes. And I’ll sort out a little mini chat bot to deliver it for the next time.

23:14

And thank you thank you for being in my world if you enjoyed this episode. If it’s helped you get clear on how to make more money in your business and you think it could help others please please share it I would love for it to reach as many business owners as possible and help them recognise what is possible for them. And yeah, that’s it drop a review if you if you liked it, I shall see you next week. Next week. I’m going to be sharing a personal one I’m going off piste. I’ve had a lot of questions around how it feels to be getting married for the second time. Yes, if you didn’t know I’m getting married this July in just two to three months’ time. And so I’ve decided to do a little kind of personal special where I share what that feels like feeling nervous right. I’ll see you that next week.