Tripling your homestead income may seem out of reach, especially if you are comfortable with your current earnings. However, as a homesteader, you can choose to either make a living or earn real money. You could be content with what you are making now, assuming you are living comfortably. However, wouldn’t it be nice if you made more?
You can only make real money by envisioning yourself being successful and working hard towards it. Your focus on your money-making dream is your sole responsibility. Experts and gurus will give you all the advice, but if you don’t believe in yourself, your goal will remain the same as a pipe dream.
In this article, you will learn 20 ways that can make your dream come true if you start doing the following as a homesteader.
Have A Vision And Change Your Mindset
Tripling your income in 9 months is not easy. You need to be ambitious about your goals and focus on how to improve your current income. A vision sets a clear direction on the way you want your business to go. Program your subconscious mind with positive affirmations and be willing to learn and change towards your new path.
You can also get a successful homesteader as your mentor. They have been where you are currently but worked hard, and their stories will inspire you. Learn from homestead books and get to know success and failure stories from other homesteaders.
Get rid of any negativity in your life, as it will affect how you approach your vision. If you believe you can work hard to triple your income in 9 months, don’t allow anyone to tell you it’s not possible. Surround yourself with people who believe that it’s possible.
Don’t always agree to business propositions without evaluating and weighing up all options. Always be wary of people and their intentions and only take the offer if it’s the best in the market. Don’t get excited when presented with a proposition without evaluating it properly. Just know that you can still end up successful without any help so long as you trust your intuition.
People like George Soros have risen from nothing to become major investors by trusting in themselves and questioning the value of propositions presented to them. Refusing to take an offer may be a good thing as it may hurt your brand in the future should you fail to deliver as expected.
Choose Your Financiers Wisely
If you are planning on starting a homesteading project but don’t have enough funds, you can get external financiers. External financiers allow you to use your resources without depleting them. Plan on ways to raise your money by getting the right audience.
Fundraising may look easy, but it will waste your time. Instead, focus on the most critical aspects of your business that will bring you money. However, never write it off altogether but use it as a last resort.
Engage Your Customers
You need to maintain contact with all your customers. You should aim at keeping your existing customers happy. Use social media to get how your customers feel by replying to their comments and emails. You can also grow your brand popular on social media platforms like Twitter and Facebook.
Maintaining existing customers is more important than attracting new customers if you want to continue increasing your revenues. Always check on the happiness levels of your existing clients through their responses as they form the backbone of your referral strategy.
Create a Partnership
As a homesteader, you may be a small brand now. However, you can work hard to build your brand. It’s easier for a big brand to attract others for the partnership to make more money. You can make more money through collaboration by starting a franchise.
Many businesses only want to give the opportunity of working with them as a franchise if you demonstrate you can deliver. All you need is tailor your pitch to align yourself with their mission and vision to prove the right fit, then you are ready to go.
Focus on your strengths and work on your weakness to grow as a brand. This way, you will also attract like-minded investors. Always treat your homestead as a business. Should a brand approach you to partner within a milk processing project, this could be a breakthrough for you.
You can only triple your income by tripling your profits. However, you need to understand the need to trim your expenses as they eat into your profits. You can never eliminate the expenditures, so reduce them as much as possible.
You can also cut unnecessary costs like the supply expenses by producing some products for your business. As a homesteader, instead of buying milk, you can keep cows on your farm. You may also decide to do social media marketing by yourself instead of outsourcing it to reduce marketing costs.
Instead of hiring more staff, you can share more responsibilities with your employees. Consequently, you will have more free time for you to handle other important core business issues.
Look For The Right Employees
Be different from most employers who go for the most experienced personnel for employees. It’s advisable to go for a newbie who wants to learn and grow since they still have hunger and passion for succeeding. Further, they will be willing to work long hours and more days as they learn.
It’s easier to mentor a “green” person than an experienced person since they want to learn. A qualified person could demand more money than you are willing to offer. They also know what they are bringing to your business, which can be a challenge for your startup homestead.
The fact that you can give them more responsibilities as you test their limit allows you to focus on things that will make you more money.
Cut Unprofitable Ventures
As a homesteader, you could be having an unprofitable venture. Such an investment may continue eating into your other profits. If a line of production is only making you lose or gives you pennies compared to the time input, cut it off. You can always look for a more profitable venture. Most of the time, many homesteaders find it hard to cut a project, especially if it has sentimental value.
If you plan on tripling your income in 9 months, you should consider concentrating on the more successful ventures and scaling up with them. Many investors, however, sometimes continue funding failing startups with a hope of a turn of events.
Publicize Your Brand
Building a brand is very crucial for any business. While it may take some time for your client to trust your brand, it’s none the less vital that you maintain your reputation. People are more trusting about a famous brand compared to newcomers. However, that doesn’t mean you can’t make more money, though.
You can use social media marketing to publicize your brand. Also, your employees should live your mission and vision for you to be the preferred service provider. Your leadership as the brand ambassador is essential, especially when it comes to how the stakeholders perceive you.
Most successful businesses has websites and social media platforms to publicize their brands. They also employ social media marketers and influencers to push their brand further.
Make Business Visits
As a business, you have your stakeholders. You must keep in touch with your suppliers or dealers. They also serve your competitors. Visiting them on their premise shows that you value their relationship and would want it to continue that way. However, if you stop visiting them, it will look like you no longer value them.
Businesses are like individuals, would you continue a relationship with a person who doesn’t value or care about you? I bet you won’t. That’s why you need to make time for them to avoid losing their business. Always look for a way to motivate them by offering gifts and bonuses.
Choose The Right Niche
You need to know your audience in order to channel your energy to the correct audience. Choosing the right niche provides you with the opportunity for growth as you direct all your energy to your target market. If you do haphazard marketing, you may receive conflicting information about the market.
With a niche market, you already know your target age, income level, and regions. Therefore, it’s easier to hire a social media influencer to market your brand as you can isolate the target market, especially when it comes to paid ads. Also, you will avoid the wastage of covering regions without your target market.
Shop Around For The Best Offer
When you are new in the market, and you have an excellent product, you will never fall short of suitors. People will come to you with all sorts of offers. However, don’t fall for the first offer you receive. As you continue doing business, you will understand that no one offers you the best deal.
It’s therefore crucial for you to be patient and shop around. You may find the grass greener on the other side. If you receive it and you are happy about it, it’s okay. However, just know they made a better deal.
If you stay with one stakeholder chances are that your income will remain the same. However, if you feel you are offering better value, request for a contract renegotiation. However, before doing that, you must prove that you are offering better value and have a plan to show that you will increase revenue and profit.
Should your partners see the value that you are bringing to the table? They will have a sitting with you. In most cases, they already know you deserve a contract renegotiation, but if you don’t demand it, they continue sitting tight.
Boost Your Skills
Proactively learn skills that add value to your business. Learning about your business opens up your mind giving you different dimensions on how to handle your business. Gaining knowledge about your industry also provides insight into your competition and what your stakeholders expect from you.
Instead of learning from your mistakes through trial and error, go online and find information about successful people from your industry. They will give all the motivation and tips you never knew before. You can also learn book-keeping, social media marketing, new business ventures, reading motivation books, and podcasts and watch YouTube channels. All these media will help you gain invaluable knowledge.
Give Value To Others
Target giving value to others. If you make people more money, save their time, and provide them with peace of mind, you will have the upper hand when it comes to contract renegotiations. You increase your value by increasing sales and pushing numbers up. If you make money for others, your value increases, giving you an upper hand in contract negotiation.
History has shown that businesses that don’t change in the face of change are doomed. Kodak used to be a tech giant but did not embrace digital technology, which led to its death. Many companies make the mistake of focusing on the past instead of focusing on the future.
Switch industry if situation changes and your market deteriorates. In the case of pandemics like viral attacks, some business dies due to lockdown. You need to come up with fresh business ideas to make you money. Air BNB and tourism may be experiencing issues due to the viral attack, but you can start food delivery services.
Leverage on Your Network
Network with other people in the industry to learn more and get more business. You may think that going to corporate dinners is a waste of time. However, here is where you meet industry players who can help further your brand. Networking also allows you to know the trends in the industry so you can leverage what you already have.
Avoid time-wasting and focus on your goals. Netflix can wait, but you need to work on your dreams now by looking for a mentor in the industry to help you get the best out of yourself.
Make Good Use Of Your God-Given Talents
Everybody has a unique talent that sets them apart from others. If you look deep into yourself, you will realize that there is something you do better than the rest. You could be a good artist, a painter, or even a chief.
You can use these talents to realize profits. Since not many people can do what you do, you stand a better chance of being more successful compared to the other people who make up your competition.
Take The Initiative And Show Up
Success doesn’t just come; you have to work hard for it. Show up by being focused and avoid time wastage. You are responsible for your destiny, and you can actualize your dream by recognizing and owning up to your mistakes.
Set goals and strive to achieve them. As a homesteader, you will be faced with problems like procrastination and lack of focus. Maintaining your focus and giving everything 100% will ensure you attain your dream of tripling your income in 9 months.
Promote Yourself As An Expert In Your Field
People are only willing to spend money on people they consider experts. You can do this by raising your charges. But assuming you double your charges and lose half your clients, you are better off than having all of them. As a result, you will realize that the remaining clients will be more trusting. Fewer clients mean you can now concentrate on the remaining ones and give them more value for their money compared to having many clients who pay less.
A homestead should be treated as a business. That means you should aim at making a profit every time you start a project. Tripling your revenue is possible with determination hard work and focus. If you follow the above instructions, you will realize your goal of tripling your income in 9 months.