Inject cash into your business #asifbymagic.
It’s common for any business to run short of cash from time to time. But when there are bills to pay, what then? Tune in for some tips and tricks to inject cash into the business quickly and #asifbymagic! It might require a mindset shift, change/s in your biz habits, or trying out new stuff to find out what works. Whatever it is, discover for yourself in this week’s episode.
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RADIO SHOW TRANSCRIPT
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[00:00:00] Have you been wondering about some ways to inject cash into your business quickly? Welcome to Tools to Create a Better Life with myself, Glenyce Hughes. Thank you so much for being here. I am so incredibly grateful for you.
[00:00:16] This show is all about different ways to do some cash injections into your business as if by magic. It’s a mix of some practical ways to do it, some mindset shifts, and also some tips.
[00:00:30] The first tip that I have for you is to really look at if this is the way that often shows up in your business where you are requiring a cash injection time and time and time again. You might wanna look at the bigger picture. You might want to look at maybe three months ahead, maybe even go six months ahead where you’re not doing things last minute because often when we require a cash injection, it’s because we’ve not done something earlier on.
[00:01:02] What we’re creating today is ultimately creating our future. It might be the [best] way to actually do some planning in the business. Really look at those things.
[00:01:18] Even if you have a business where you pay yourself every second Friday let’s say, you wanna be looking at in order to have the funds to pay you every second Friday, what is required? [Maybe you] have staff that you pay every, I don’t know, second Thursday, [look] at that and really [plan] it out rather than going last minute, “Oh my goodness, I require money. This is horrible,” and jumping into that drama. It’s usually the energy there. So, keep that in mind.
[00:01:53] But also, there are some practical tips for this. One of them is [for] if you were just looking for a cash injection.
[00:01:59] Let’s say you got a big tax bill or something, and you require some cash right now. Depending on the type of business that you run, you could look at offering a new product or a new service. That’s something that is new, that is exciting, that your audience is asking for, and really inspires them to maybe move quickly with it.
[00:02:25] When we were in England last year, October of 2022, celebrating our 25th wedding anniversary, I was running classes and stuff while I was doing it. Our business was going as usual. But as I got closer to the end of the month, part of this was like, “Oh, shoot. I require more money for the business. What can I create?”
[00:02:51] I have other ways in the past that I have done that. What really popped for me this time — it was really interesting — was a brand new creation. It was a coaching program – a 5-week coaching program.
[00:03:03] At the time I thought, “I’m not sure this will be what I’m looking for,” but it was really yummy and expansive to do it, so I put it together quickly and put it out there. I think we ended up having 30 people. I opened 30 spots. Initially I’d opened 20, and then it was just so amazing and so much fun I opened up another 10 a couple weeks later. It really went in a different direction than what I had thought it would.
[00:03:31] Back then, I was doing more– I would do a sale to have a cash injection maybe once a month or something like that. Now, I do sales differently. It’s actually more of a strategy in my business, but that’s not for today’s show. We’ll maybe talk about that in another show.
[00:03:48] Right now, in terms of a practical way to inject money into your business, could you be creating a new product or a new service that really invites your audience to something fresh, light, and exciting? It’s in line with what your audience is asking for, but something that a little bit new.
[00:04:10] The other thing that I did with the coaching thing — and I actually chose it this way because I was truly curious — is I ran it as a beta program, meaning it was like, here’s the bare bones, not totally sure how it’s gonna work out. And so I ran it that way. That could also be an option for you if you’re gonna run a new service or something. You could launch it as a beta so that you have a little bit of room to work things out.
[00:04:36] In my experience with that 5-week program after a few people went through it, I realized that I think it was week 3 and 4 [that] needed to be changed up or something like that. I felt more confident doing that because it was in beta. Everybody who had joined knew it was in beta, knew that there might be things [that] shift and change as we go through. Not to say you couldn’t do that if you didn’t run a beta program. It just gives you a little bit more space if you do.
[00:05:07] I would like to invite you to my final Business Done Different class. You can join us online or in Davidson, Saskatchewan. Yes. June 9, 10, and 11.
Again, it will be my final facilitation of Business Done Different. I will not be renewing my Joy of Business Certified Facilitator, which means I will not be facilitating the class anymore.
It’s an amazing class, guys, with an amazing manual. So please, if you have been waiting to take it with me, now is the time. If you have any questions about it, just reach out.
[00:05:47] From a mindset perspective, one of the things that you might wanna look at instead of being in the energy of, “Oh my gosh, how can I create money? How can I inject cash into the business right now? Oh no, how can I pay this bill?”, it’s really like, “How can I provide exceptional value to my audience and get paid for it?”
[00:06:13] I don’t mean you’re asking that question in terms of “what could I put out for free?” That’s not the question in this case. It truly is instead of the energy of how can I get the money, it’s really how can I provide my audience with what they’re asking for in a way that totally blows their mind. That, to me, has such a funner, yummier energy than how can I get this money, how can I inject this cash, how can I pay my bill.
[00:06:41] Even when we’re putting things out there, everybody that interacts with us, whether they’re on our email list or they’re consuming our content on social media, they are aware. Every one of them, whether they know it or not, they are aware. What that means is if you’ve got that energy of, “I’m putting this out there so I can have the money because I need the money and if I don’t have the money, there’s a problem,” every person can perceive that. Everybody gets that energy, whether we know it or not, whether we have words for it or not.
[00:07:12] Really take a moment. When you’re in that situation and not making yourself wrong, not going into judgment that you’re in a situation that you require the cash injection, but really looking at it from a different angle, which is “how can I provide exceptional value to my audience right now?”
[00:07:32] Because I know chances are if you are watching this or if you are here right now, you actually desire that. Yes of course, the money is wonderful and the cash injections are sometimes required, but ultimately, if we were to go right to the core of why you do what you do, it is because you desire to provide for your audience the value and really create a “wow” in their world with them. Go back to that energy because that is gonna fuel you and the creations so much more than this kind of desperation of “I need the money right now.”
[00:08:13] A tip in this sort of situation and actually honestly in every business situation– actually, I’m gonna take it even further – in every area of your life, is to really embrace what is unique about you. Really get a sense of you, who you are, what you love, and be it and share it.
[00:08:36] It isn’t about going and fitting in. It isn’t about being like the other people in your industry. It truly is about being you. It doesn’t matter what industry you’re in.
[00:08:48] If you don’t believe me, go to TikTok and watch some TikToks where people are selling something totally unrelated to them.
[00:08:58] There was a gal I watched, I’m not even sure how long ago [but] a while ago. She was going out on a date. That was what hooked you. She’s talking about going on this date. She was really vulnerable with [that] she hadn’t been on a date in a long time, and had been through a rough breakup so she wasn’t sure if she was willing to and ready to.
[00:09:18] You’re really invested within probably 15 seconds. You’re really invested like, “Man, I hope she does it. I hope it’s amazing.” She’s just a great storyteller. She’s getting ready to go on this date — she’s physically getting ready while she’s doing this video.
[00:09:35] The video was for the hair straightener that she was using while she was talking about going on the date.
[00:09:42] That is brilliant. She was still being her. She was still sharing a part of her life. She was still showing us, kind of opening the curtain a little bit and showing us a little bit of her life and behind the scenes. We’re all really invested that she had a great time. Everybody was probably waiting for her second video because she was gonna follow up with how the date went later…
…and she was selling the curling iron or the hair straighten or whatever it was.
I cannot tell you [for] I do not know the facts, but I would bet anybody who was remotely interested in that product would have purchased from her. She wasn’t selling and she was totally selling, and she showed up as her.
[00:10:27] When I talk about being you, being your uniqueness, that’s it. It’s where you show up as you. You don’t show up and hold this hair straightener in front of the video and say, “This is a great hair straightener. This will straighten your hair every time. This straightens your hair without making it fuzzy” and hope it sells. There is a time that actually would’ve sold. I’m old enough to know. It just doesn’t anymore.
[00:11:02] Now, we almost need to be romanced. We need to be dated, maybe, in a sense with the person and what they’re selling. That connection with the person is such a huge part of it. The only way you’re gonna get that is if you start being you. You start being your uniqueness. In whatever way you’re sharing content, you need to show up as you.
[00:11:28] Another practical idea with a cash injection is — I spoke about it earlier — like a sale where you put on a sale of something that you have or a variety of things that you have. Or [when] a lot of people do not like the idea of sales, they could do where you add a bonus.
[00:11:47] Let’s say you have a course that you sell. You normally sell it for a thousand dollars. You could put it on sale. You could discount it or whatever – $100, $210, it doesn’t matter. You could do that.
[00:12:00] But if that doesn’t work for you, you could actually add something to it and say, “If you purchase this course by Monday, you will get a 15-minute session with me” [or] “You will get this other course added in for no extra charge.” Something like that. That can create a big cash injection.
[00:12:19] I wanna speak [about] sales for a moment because there’s so many different ideas on the planet about sales. What I can tell you, this is just my own point of view about it, is that you have to do what works for you. You can’t listen to everyone else because everyone else has a different idea about sales.
[00:12:43] For me right now, sales are a part of my monthly strategy. I have a sale that runs every Tuesday morning at 6:00 AM my time to Thursday morning at 6:00 AM my time. For 48 hours every week, something or a variety [of] things are going on sale.
[00:13:01] This is a strategy that I am using. I have never had a problem with putting things on sale. I’m not saying I’m right, okay? I really want you to look at this for yourself. What works for you? If discounting or sales don’t, then find something else. In this way, add a bonus.
[00:13:23] I know– at least my audience, I cannot speak for your audience. My audience loves when I add on time with me. You can add on a 10-minute session, a 15-minute session, an hour session. Whatever you wanna do, that’s totally up to you. But it’s another way to create an injection of cash for something, rather than putting it on sale if that doesn’t work for you.
[00:13:47] Another tip is really to get out of your comfort zone with all of this. A lot of times when we require a cash injection, when we are in that place in our business, the first thing we do is we go to such wrongness of us. We go to how bad we are, how horrible we are, we made that mistake, or we set ourself up for this problem because we put our taxes off or something.
[00:14:14] What if we stop that and we just recognize, hey, I require some cash — let’s even word it differently. The business requires some cash, so what’s required? What steps can I take? What action can I take? Be willing to do whatever it is and then change it if that doesn’t work. If it’s not selling, if something isn’t working, try it again. Be willing to what we might call, and it isn’t, but we might call it “fail.” Just be totally willing to fail.
[00:14:53] I know you probably have heard that a million times and you’re kind of like, “Whatever. Shut up, Glenyce.” But what if you’re willing? What if you’re willing just to try it just to see?
[00:15:05] When you are in business, you have to be willing to fail or you will never succeed. You have to be willing to be in the position where you require cash injections, maybe even in the next hour. Okay, cool. So what’s required? What’s required?
[00:15:27] There’s so many different things that can be done. I’m just kind of touching on different things as we go along, but there’s a lot of different ways.
[00:15:35] It also depends on your business. Maybe you run a coaching business where you are already full — your time is already spent, you cannot see any more clients, but you still require more cash. Maybe something else came up above and beyond what you bring in.
[00:15:51] Okay, so what could you do? Could you create a digital product with something that you could sell? Is there another way? Instead of getting into “this is wrong and bad and I’m wrong and I’m bad,” it’s like, “Okay, so what else?” What else?
[00:16:08] If you’ve been around for a while, I do this really weird thing where I actually chat with my business. “Hey, business. Can you assist here? Can you show me what’s required? Can you show me what you would like me to create?”
[00:16:22] That was really the energy behind the whole beta coaching last October, November. I was curious. I was truly curious as to what was required, and came up with this– I didn’t come up with it, the business gifted me this idea and then I took the action.
[00:16:41] It did take me putting it into words and sending it out to my email list. In that case, I did something even a little bit different than I do a lot of times. I sent it out like, “Hey, guys. If I created this, would you be interested?”
[00:16:56] I didn’t even put much together because I thought if nobody’s interested, I don’t wanna put a whole bunch of time into it and creation into it, but I had a lot of interest. I was like, okay. I created the payment link, got Ericka to do the graphics and all of that, and away we went. You don’t have to do it like that. It’s just how I happen to do it.
[00:17:19] If that is of interest to you, I actually have a product called “How to Get Paid to Create Your Digital Product” because there is a strategy to it where basically you ask if people are interested in it. If they are, you put together just a basic link. You usually put it at a very discounted price or discounted or less price. There’s different steps to it.
We’ll put the link above or below. If you don’t see it, reach out and I will get it for you. It is called “How to Get Paid to Create a Digital Product,” meaning you get paid before you create it. How’s it get any better than that?
[00:17:56] There are just some ideas, some tips, some mindset shifts, practical ways to get some cash into the business right now.
[00:18:04] Remember my very first first tip: it might be [that] planning is required. I know for so many of us, we don’t like to plan. We want to create, create, create. If you could find a way to start planning, I wonder how much that might contribute.
[00:18:22] Have a great week, sweet friends, and I look forward to chatting again next week.
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