How to create a 90 day plan which brings in regular income

Do you find yourself feeling busy doing all of the things, yet you’re not bringing in the consistent income that you’d like?

This blog post was first published on 10 March 2021

So many entrepreneurs end up feeling like they’re running on a treadmill, trying to create new content, sell their new offers and deliver what they’ve already sold… Yet they aren’t seeing the consistent income that they’d like. They end up writing a 90 day plan, only for it to end up in a drawer to never be looked at again… If that’s you, no judgment here. Maybe the idea of a 90 day plan feels overwhelming and an extra thing on your to-do list on top of the wearing various many hats and spinning various various plates in your business, please know that it really doesn't have to. Maybe you’ve written them before and each time you’ve ended up feeling really disconnected. We hear you. Lucy shares her previous experience of this and how to create an 90 day plan that not only inspires you, but that you feel connected to and moves the needle forwards in your business in her Youtube video linked here.

Having a 90 day plan gets to be empowering and make business simpler, easier and more sustainable for you. That’s why this week on the blog we’re going to discuss the three 3 step process of how to bring in regular income in your online business through creating a 90 day plan.

If you’d rather watch a video on this topic whereby Lucy guides you through this three step process step by step, click here to watch our Youtube video.

1. What kind of impact do you want to have on the world this quarter?

For each quarter, start by asking yourself what kind of impact you want to have during this 3 months. Really take some time to connect to how you want to help people and therefore what you want to do in your business based on that. Think about what kind of work you want to offer. For example, you might want to increase the number of people you’re impacting and therefore want to launch a membership. Or maybe you want to focus on increasing the number of 1:1 clients you’re serving because that’s the type of work that fulfils you the most or that you’re best at.

2. How much do you want to earn

This is an important one to have at the forefront of your mind…. Get clear on the amount of revenue you need to bring in per month to make your business profitable. If you’re not sure, we have a Youtube video on guiding you on how to work out this figure which you can watch here. Once you have your monthly figure in mind, let’s say it’s £4,000, times it by three to give you the number you need to make per quarter. In this case, that’s £12,000.

Now that you’re clear on how you need to earn per quarter for your business to be profitable, think about how you can bring in this amount of money doing the things that you identified in Step 1. Look at the offering that you charge the most for, for example your 1:1 offering, and multiply the price of that service by the number of people you want to work with each month. This will give you the amount that you can bring in to your business from 1:1 clients alone. If you need to gain clarity on your pricing, watch our video on how to price your offer here. For example, you may work with 4 1:1 clients at £500 per month, so that’s £2000 per month and £6000 per quarter, which is in this case would be half of your quarterly income goal. Now take a step back to consider how realistic it is to have this number of clients per month, taking into account whether or not you have a waiting list, and what life your life needs to look like to make this happen. Then make any adjustments necessary and recalculate your estimated figure from this revenue stream. Ensure that you also give yourself a moment to reflect on whether your offering, including the price point feels aligned. Then make any changes you want to make to your 1:1 offering, including the pricing, the length of the package and the number of clients and take note of how much this contributes to your income goal for the quarter.

Look at any other offerings you have, or want to create in addition to your high ticket offering, starting with mid-range offerings such as group programmes, followed by lower price point offerings such as online courses and memberships. Work out much revenue you need to make from these to make your quarterly income goals- taking into considering how much you’ve already made from your high ticket 1:1 offering. For example, we have our 6 week group programme Get Legit® which offers extensive group support over various aspects of legal for a mid range price point of £597. Let’s say you want to host a group programme once per quarter for £200 and you want to sell it to 10 people. Maybe you realise that you don’t think you have 10 potential customers and you need to grow your audience. Or maybe you may think that selling it at a price of £100 makes it a no brainer and you’re aiming to have 20 people sign up. In this scenario, you would make £2000 per quarter for this group offering as well as your £6000 for your 1:1. That means you would need to create an income stream to generate a further £4000 of revenue to make your target of £12,000. That’s where your low ticket offerings come in where you can pack in lots of value and serve more people….

Low price point offerings may look like a masterclass, virtual mini retreat or a mini-course. For example, each quarter we offer a a mini course called How To Get A Trademark, whereby we teach people how to file for a trade mark step by step over 5 days at a low ticket price point of £99. When you’re thinking about your lower point point offerings, this doesn’t necessarily include evergreen courses, which may just simply sit on your website rather than being a consistent source of revenue. On this note, it’s important to how you can incentivise people to join your offerings. For example, if your 1:1s are booked up and there’s a wait list, ensure that your audience know this and are incentivised to join it. Then look at your group offerings. Maybe you’re looking to launch a 6 week programme for the first time and want to have an introductory price of £200 even though the value of that course is £500 so that people are incentivised to join for this round. Ensure that you communicate all of this to your community.

Ideally you want to keep things easy for yourself and repeat offerings where you can each quarter to help you with creating consistent revenue. You may want to increase the price or keep it at the same, or lesser price and have it available to buy as a pre-recorded self led course for the 2nd quarter. If you decide to make something evergreen, do make sure that you’re talking about it enough in your social media and email marketing so that people are aware that it’s available, what the benefits of enrolling are and how they can buy. Maybe schedule something in to go out on your Instagram or your Facebook. Have a look at your content plan for the next 90 days and work out how you can be strategic so that your audience are warmed up and are taken through a journey through your content, so that they are aware of how you can help through your offering.

Ensure that you let your community know the time frames of when the doors close and how long they’ll have to wait before you re-launch so that they are invited to come to a clear decision about whether they want to join you for this round. You can repeat this plan every 90 days, which will also save you time as you will already have your pre-recorded and evergreen courses ready to buy. You might decide that you want to have a 4 month plan rather than a 90 days if you only want to launch group offering 3 times a year rather than 4, for example.

3. Ask your audience what they need help with

We cannot emphasise this one enough. Ask your community what they need support with, so that you have a wait list of people who are ready to buy before launching something. If you have an idea on what you think people my need support, test it out first. Start creating content around it, whether on your Instagram posts and stories, your blog or through your email marketing and see how it is received. Don’t be shy to ask your audience if they would like support in the area and way that you are considering. Don’t just decide to create an offer because you think it’s a good idea. Ensure you know that there’s a need and interest first through engaging with your audience. This helps to prevent spending time on creating and launching something and it then not selling- a far from ideal scenario as a business owner. If you a launch doesn’t quite work out that quarter, work out how much money you need to make that quarter to reach your 90 day income goal and what you can do to make that happen. For example, that might involve collaborating with someone or opening up several spots for 90 minute strategy sessions.

We really hope that this blog has been helpful. We love hearing from you, so do send us an email with your thoughts and takeaways or if there’s anything about legal or business that you’d like us to discuss on the blog to [email protected].

Team Lucy Legal x