Making Cents Scale

How To Make Money In August

Forward-thinking Entrepreneurs know that August is the right time to put building blocks in place that will generate fourth quarter revenues and if the stars align, you could even see a pay-off right now. Slowed-down summer schedules let you press the restart button on plans you hoped to advance earlier in the year. Here are some business development activities that every Entrepreneur can add to her August agenda:

How To Make Money In August - Lioness MagazineForward-thinking Entrepreneurs know that August is the right time to put building blocks in place that will generate fourth quarter revenues and if the stars align, you could even see a pay-off right now. Slowed-down summer schedules let you press the restart button on plans you hoped to advance earlier in the year. Here are some business development activities that every Entrepreneur can add to her August agenda:

Prospecting follow-up

Review your calendar to remind yourself of whom you wanted to meet with from January to June and follow-up before August gets old. Despite vacations, summer can be a surprisingly good time to reach out to those whose calendars could not mesh with yours when you first made contact. Pick up the phone and ask your highest potential prospects to meet.

Before making calls, devise a pitch to convey that you and your team can deliver high-value, problem–solving solutions for clients, so meeting with you will be good for business.  At the meeting’s end, you could be on your way to celebrating the arrival of a new client and additional billable hours. Maybe there will be a contract for you to sign this month!

Business planning and marketing

The software you use to generate invoicing records can also generate data used to conduct business forecasting and other financial reporting. Have you used this valuable resource? A business leader must know the top five clients on the roster; know which products or services are the company best sellers; know the 20% of clients that are responsible for 80% of sales revenues; and confirm that revenue streams derived from any side projects that you occasionally pursue deliver an acceptable ROI. Re-vamp your marketing plan with updated strategies once you’ve reviewed the business forecasting data and verified that you’ve targeted the optimal client groups for your product and service lines.

Several studies have reported that B2B clients respond favorably to long-form content marketing that features original material. This month, why not kick-off a content marketing campaign that explores topics relevant to your clients, as noted in your forecasting data? Case studies that appear quarterly on your website or LinkedIn page, a weekly blog, or a monthly newsletter can be published. Presenting yourself as an expert in your field will add to your credibility and revenues, too.

Upgrade your skills

If your budget allows, devote time this month to upgrading your skill set. August is a great time to pursue professional development opportunities. Obtaining a certification and attending seminars and workshops will sharpen your competitive edge. If your cash-flow is less than generous, search for a free webinar or two. Those with teaching or speaking experience might be able to flip the script and get invited to present a webinar this month and you might even get paid.

When you remain positive and take the initiative, you will see that August holds numerous business development opportunities that can potentially fatten your revenue stream into the fourth quarter and beyond.

Thanks for reading,

Kim

About the author

Kim L. Clark

Kim L. Clark is an external consultant who provides strategy and marketing solutions to for-profit and not-for-profit organizations. Kim is the founder and principal of Polished Professionals Boston and she teaches business plan writing to aspiring entrepreneurs.

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