Where businesses and freelancers lose money:

1. Working with prices and the amount of money received from the client:

- They underprice. And they don't see when they can and should raise prices.
- They do a bunch of work for free and don't even emphasize this to the client to increase loyalty and repeat purchases.
- They sell through discounts, cutting into margins.
- They don't offer the client additional services and products that they would gladly buy in a "one-stop shop" mode and that are painfully hard to find separately.
- For recurring work, they get paid for 10 months a year instead of 12 - the client doesn't renew immediately, there's a pause to discuss the report before continuing work.

2. They don't work on developing client needs and sales:

- They don't see what else can be sold to the same clients from what they know how to do or already do.
- They don't forecast "yesterday the client bought a balance bike - next year they'll need a kids' scooter and bicycle", "the client is increasing ad spend - soon they'll need a chatbot auto-responder"

3. They don't work on increasing the value of their offers in the client's eyes:

- Understanding what exactly the client wants to buy.
- Packaging and presentation of products.
- Differentiation from competitors.

4. They don't work on repeat purchases and with the client base, non-buying leads, passive subscribers:

- They don't build and maintain long-term contact with clients.
- They don't reactivate clients who have disappeared from view.
- They don't inform the old base about their new products, especially free ones.
- They don't work on cross-selling, upselling - selling additional products to a client who has bought before.
- They don't remind about appointments, time to buy new consumables. This either results in getting a sale 2 times a year instead of 5, or the client forgets you and goes to someone else.
- They don't use methods to extract more money from the base when resources are scarce.

5. Working with the product line. They don't develop their product line and the products and services themselves to increase revenue and profit from them:

- They don't make products for repeat purchases and profit maximizers.
- They don't make products for easy client entry.
- They don't make products to develop client needs. That is, the day before yesterday clients bought hoverboards, yesterday electric scooters - what will they buy in six months?

6. They don't manage purchase volumes and timing:

- Techniques to get money by a certain deadline.
- Techniques to increase purchase volume.
- Techniques to increase the number and frequency of purchases.

Subscription deliveries, product bundles, incentivizing purchases by a certain deadline with benefits for both sides (you get a wholesale discount from the supplier - the client gets part of that discount or a bonus)

7. Leaky sales funnel and warming.

- Mistakes on platforms, in presentation and packaging of products, manager work, pre-sales support, logistics and shipping, after-sales support.

- Incorrect client journey from first contact to payment: a service for a 6-figure sum and when the client will have a confluence of circumstances that they CAN use your service (got apartment keys, sent family to the dacha, budget approved for the year, season arrived) - but we lead them to a landing page with a form that the client won't fill out right away. And we don't work with the base of those who visited.

9. Optimization of what is already being done:

- Time spent on work.
- Resources, materials.
- Business processes.
- Using process optimization to set a more competitive price.
- Increasing the return from 1 hour of work of yourself/team/equipment

10. Prioritization of actions. They waste money on wrong actions

- They pour money into traffic when the funnel is leaky, and they don't understand what exactly the client is buying.
- The unit of sale is negative -> poured money into traffic -> increased the negative
- They see an increase in sales and money only in increasing traffic volumes.
- They waste extra money on salaries, materials, instead of finding the "sweet spot" - as a result, either they work at a loss, or they have inflated prices and difficulty selling them.

Write in the comments:

1. Which of the listed methods of getting extra money do you use.