DL Expo West Lessons Learned - Cash Flow

The past five days spent in Las Vegas were very special and uplifting. Our industry needed a positive boost after what was a long and somewhat slow summer season.

This past Thursday and Friday, our Maverick Warriors group met and worked together on the operations, marketing, finance, and leadership parts of our business. With only about a dozen of our members missing, we still had more than 60 attendees for the meeting.

The DL Expo West started Friday evening with a very busy reception and first look at the show floor. The energy was so great to see. Saturday and Sunday added some dynamic educational and industry speakers, and the sessions were all overflowing with people.

For the seminar I presented, I discussed how to increase cash flow in your business. I gave 10 tactics to increase sales, and also 10 tactics for decreasing expenses. The combination of increasing sales with decreasing expenses results in an increase in cash flow.

This week I will share the 10 tactics I shared to increase sales. And next week, I will share the 10 tactics to decrease expenses. Here they are, in no particular order:

1. Get your price right – it is much easier to make a premium profit if you have a premium price
2. Retention System – the low hanging fruit for sales growth. Re-engage those who have become lost or out of pattern. Segment your database and be more personal in your outreach to your better clients.
3. Focus on Profitable Specialized Services (comforters / flatwork / wedding gowns) – give reminders.
4. Batch Texting – my favorite service for this is Textedly.com
5. Acquire affluent clients with an irresistible offer
6. Joint ventures with influencers / affiliates – nice clothing store owners, country club GM’s, heads of luxury automobile companies, etc.
7. Bundle services using subscriptions.
8. Differentiate the client experience so it is noticeably different and better than any of your competitors.
9. Create a pipeline of leads – using a lead generator on your website, have a webchat, and Google ads / landing pages.
10. Unconditional Guarantees – creates much stronger attraction for right fit clients. Almost nobody asks for them if something goes wrong. Broken button guarantee and Double Your Money Back Guarantee are two of my favorites.

I hope you enjoyed these and can find a couple of them to implement in your business so you can enjoy higher levels of sales. I hope you have a great week – and if you were at the show, it was so good to see you!

Dave