Monthly Archives: May 2026

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Three Actions To Boost Business Revenue Right Now

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Welcome to Entrepreneur World! Owning and operating a business is an impressive achievement and those who can make it happen deserve a big round of applause. However, not all will be rosy. Becoming the steward of a business entity can be overwhelming and sometimes, even frightening. You are sure to be confronted with enough unanticipated events to make you feel as if only the strategic savvy of Hannibal could help you navigate either the obstacles or opportunities. Launching a business entity that you can build into a sustainable success demands that you figure out and put into motion a series of actions that will enable the enterprise to predictably generate sufficient revenue to become profitable (as you define it). On that note, you will be pleased to know that credible business advice is available to lead you through the obstacles and uncertainty that can block your path to success.

Whether you entertain thoughts of creating a company that will hire numerous employees and produce annual profits of seven figures or more, or your vision of entrepreneurship is a more personal reflection that will employ only you, but will nevertheless consistently generate a robust annual profit, know that there is a dependably effective formula that promotes entrepreneurial success. Trustworthy experts in the theory and practice of business entrepreneurship agree that the following activities are recognized as the pillars of a business entity and in tandem will develop a pathway that leads to a thriving and profitable company:

  • Marketing/ Sales, which can also be called business development, facilitates the introduction of prospective customers who have the money and motive to purchase the products and/or services offered
  • Operations, to facilitate back-office administrative functions and fulfill after-sale expectations; such as quality control, packaging, shipping, customer service and the customer experience
  • Finance, to ensure that there is enough money available to enable business development and operational activities

When aligned, these foundational actions—you recognize them as business strategies—have the capability to cultivate vigorous business growth that drives long-term and sustainable success. In anticipation of purchases, the marketing/sales pillar keeps the business owner focused on getting the service or product in front of the right prospects, articulating the right message to the most promising prospects and strengthening client relationships—actions that drive sales revenue and profit and support business development. Back-office administrative functions that can involve professional development and training for yourself and any employees, along with consistent quality control for products and/or services and after-sale follow-up that supports a memorably pleasant and efficiently delivered customer experience are within the realm of operations. Astute financial management, from appropriate record-keeping and analysis to financial forecasting, ensure that optimal funding of all essential business activities is available.

1.Marketing/ Sales

Marketing and sales, which collectively are the core of business development, positions you to promote consistent revenue growth, develop the dependability and trust that cultivates a strong and appealing brand and also foster beneficial client relationships that inspire repeat business, referrals of new clients and limits churn. Business development sets the stage for business growth by introducing your service and/or product to prospective clients; it is the art of identifying and encouraging sales revenue and related growth opportunities. An important objective of business development is to create a repeatable process that you can use to find new business opportunities and turn them into additional income.

Central to the development of marketing strategies will be market research, which brings data and other insights that show you the environment your product or service will enter. A client demographic info provides, for example, geographic distribution, age range, annual income range, or education level. That information will form the basis of a client persona.

To obtain credible, often actionable, boots-on-the-ground marketing and sales insights, consider investing in social listening so that you can tap into real-time conversations that take place across social media, online forums and review sites like Yelp and Trip Advisor. You can sharpen your marketing strategies and campaigns when you discover what really matters to users of your solutions (and competitors’ solutions). Unlike traditional marketing research, social listening delivers continuous, authentic, in real time user feedback that reveals customer sentiment. You might also get a heads-up on emerging trends and other developments in your industry that help you identify market opportunities. Guided by social listening info, you can refine, adjust, or discontinue certain marketing strategies, as you monitor your closest competitors—and boost the effectiveness of marketing strategies, campaigns and messaging.

The activities discussed above will also inform your development of an efficient and effective method for qualifying leads, communicating with prospects and educating prospective clients to give them the confidence to close deals. This includes implementing a follow-up structure through CRMs, ensuring that no leads fall through the cracks while providing the opportunity for timely follow-ups, which can make or break deal negotiations. Also, identify opportunities to offer additional services by upselling and cross-selling existing clients, unlocking additional revenue streams. getphyllo.com/post/social-listening-strategies-business-impact

2. Operations

While business development, supported by sales and marketing strategies and campaigns, is about obtaining clients, operations is about keeping clients happy once they agree to do business with you. Efficient operations processes ensure that an organization functions seamlessly, delivers a consistently memorable customer experience and maintains the high standards that keep clients coming back.

Operations include everything from client onboarding, employee training, customer service, quality control and compliance. Packaging and shipping don’t exist just to deliver a product or service—these services contribute to the goal of ensuring a pleasantly memorable experience that meets or exceeds their expectations of all of your clients.

Quality control is another critical part of operations. Whether it’s a restaurant ensuring that every meal is prepared to the same standard or a service-based business following strict protocols, consistency is what builds trust and loyalty. Clients return because they know what to expect and familiarity is reassuring.

3. Finance

It’s no surprise that chief among a business leader’s responsibility is protecting the financial health of the entity. One important duty of a business owner is to you maintain good financial records, whose primary purpose is to keep yourself apprised of the financial condition of the business and also steer you into making wise business decisions. Three financial statements—Cash-flow, Profit & Loss (Income) and Balance Sheet will be your guiding star for smart planning. Timely filing of your entity’s quarterly and annual taxes are also necessary to comply with legal requirements.

Fast-track growth

Growth is the goal of every business and there are several pathways to the destination—for example, merger and acquisition, where you, business owner and leader, will negotiate a buy-out payment that could mean you either merge with or acquire another company, or agree to sell your business to another entity and allow your company to be acquired. The buy-out or merger will result in a larger client base, expanded product or service and more plentiful working capital and other financial resources that represent business growth for both parties. The merger or acquisition might result in a new management role for you in the newly configured entity; conversely, you may become “silent” and limit your post-sale commitment to accepting the sale price.

Organic business growth is the most common growth strategy. Freelancers who achieve organic growth typically do so by winning more and/or more lucrative clients. Developing additional services or products to add to your portfolio of offerings is another method of achieving organic growth for single-person Freelance entities and small or medium-sized businesses. Organic growth is a solid business growth strategy that can ultimately position a business entity for long-term future success. 

Thanks for reading,

Kim 

Image: N. Hitchcock Collection. Kaparoko, Papua New Guinea (1962)

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Newsletters Are Back

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Marketing mavens have rediscovered the newsletter. After a period of what could be called benign neglect, when this once standard marketing tool fell out of favor and was sidelined, the reappearance of newsletters represents a long overdue acknowledgement of data-verified performance results. Without question, the newsletter has for several decades been among the most effective promotional and relationship-building resources in a marketer’s arsenal.

Some of you reading now may have once looked forward to receiving a favorite newsletter that was delivered by your postal service. Then, in the early 2000s, your humble newsletter demonstrated its agility and responded to the new technology known as email, and seamlessly adapted from hard-copy to digital format. In fact, it can be successfully argued that the multi-faceted, hard-working newsletter was the original email marketing content. The format has again demonstrated that it is an effective, and therefore valuable, component of well-conceived marketing strategies and campaigns. Marketing thought leaders have joined the cheering section, calling digitally distributed (i.e., email) content marketing as foundational to long-term business growth.

Newsletters by definition are communication tools that facilitate engagement and relationship development with readers—that is, current clients, past clients, prospects and also colleagues and peers who’d like to familiarize themselves with your business—and you. According to a 2026 report published by Newsletter Industry Statistics, 78% of B2B marketers use newsletters to generate leads and 60% say newsletters are their top driver of customer retention—which, BTW, invites repeat business. A well-composed newsletter can showcase your entity, and you, in many ways:

  • A platform for you to tell your brand story
  • Cultivate client relationships, inspire trust in prospects, re-engage past clients
  • Demonstrate your thought leader expertise
  • Nurture brand loyalty
  • Make announcements and updates
  • Present product or service spotlights
  • Generate website traffic and sales

Because your newsletter is capable of influencing more people than you may realize, and in more ways than you might imagine, it is imperative that you make it a good read. You have a story to tell; ensure that the information you share is relevant, timely and compelling. Spice up the text with a splash of appealing visuals that aligns with your narrative, using both still images and (short) video clips. Be sensitive to reader attention spans as you compose your newsletter: three pages, or about 500-600 words, is probably suitable for most but still images will expand the page count. Furthermore, your newsletter (and all of your marketing emails) should adhere to mobile device specs, because 60% will be opened on mobile. As for scheduling your newsletter, monthly is an acceptable frequency known to build and maintain reader engagement.

Make it relevant, visually interesting and personal

Before you commit to producing a newsletter for your Freelance entity, decide what you’d like your newsletter to do for your business? Would you like to increase brand awareness, generate leads, nurture relationships, or boost sales? In most cases it’s all of the above, but it makes sense to know your destination before you set off on a journey.

When you’ve clarified the purpose, you can confidently choose topics for articles and other content that will guide your creation of an effective marketing tool. Your customer relations management data will reveal what your clients want to know and, even better, can segment clients into groups based on relevant distinguishing criteria, such as for-profit or not-for-profit designation, pain points or goals that motivate clients to seek out your solution, purchase history, or frequency. By segmenting your audience, you can then tailor certain elements of your newsletter content to each group and in that way enhance the relevance, personalization, engagement and, ultimately, sales revenue generated. Artificial Intelligence software will optimize the insights provided by your CRM data, that can accurately pinpoint client preferences, priorities, behaviors and challenges. Moreover, AI software such as ChatGPT, Grammarly, Ideamap, or Microsoft Copilot, for example, can facilitate the brainstorming and idea generation process and present to you potentially dozens of interesting newsletter topics that would address the focus of your target newsletter reader groups.

According to data reported by Exploding Topics, approximately 72% of newsletter subscribers are motivated by a desire to either stay up-to-date with company happenings or learn about a topic of interest when they choose to subscribe to a newsletter. Surprisingly, when given the option of receiving updates about your brand by way of social media or an email newsletter that slips into their inbox, 90% of readers choose to receive your newsletter.

So there is your mission—identify headline topics that will be segmented by personalized interests and priorities and made available to readers based on what resonates most, as a way to encourage relevance and value that readers will associate with your newsletter, as well as your company. With assistance from your CRM and AI resources, you will learn which topics that a critical mass of readers would like to take a deep-dive exploration into, and also topics for which they’ll be pleased to receive just basic info. Lastly, readers will appreciate quick and visible access to links that announce upcoming events, perhaps some in which you’ll have a featured presence, such as a podcast, webinar, or teaching assignment. Ideally, your newsletter will function as a portal for conversation with your clients and prospects. Make it interactive by including a mix of content that they’ll anticipate reading every month, such as:

  • Links to your blog or other useful articles
  • One deep-dive article
  • Poll or survey
  • Product or service spotlights
  • Call-to-action
  • Special events—your speaking or teaching engagements, participation in charity events

Thanks for reading,

Kim

Image: courtesy of the Louvre Museum, Paris, France. Muse Reading Greek (Boeotia) circa 435-425 BC

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Rainy Day Strategies to Cushion Financial Uncertainty

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There’s been lots of talk about the U.S. economy over the past year or two and bad news has dominated the narrative. Rounds of lay-offs continue at enterprise companies: Nike announced plans to shed 1,400 jobs in April; Dell cut 10% of its workforce in March (11,000 employees), for the third year in a row; on May 5, the cryptocurrency exchange platform Coinbase announced a planned lay-off of 14% of its staff, or about 700 employees. Even the popular building contractor rating platform Angie’s List announced in January that 350 jobs would be cut this year.

Your one-person Freelance empire may be holding up despite lay-offs and rising gasoline and grocery prices but even those of you who hold the working capital needed to maintain normal business operations, pay living expenses and continue to fund your retirement account may nevertheless have a gut feeling that warns you to spend cautiously and trim expenses to bolster your savings cushion. An analysis of your financial position is how you begin your resiliency campaign.

Assess business financial condition

The road to financial resilience begins with examining the business’ financial position by conducting a cash-flow analysis. The process will reconfirm the sources of your earnings and how much you pay to keep the business rolling. The cash-flow analysis will illustrate how and when revenue streams bring money into the business (receivables) and the timing and costs of operating and other expenses (payables) that take money out of the business. You’ll take the measure of how and from which sources business revenue is derived, as well as your spend for fixed and variable expenses. You’ll also confront the business top line earnings (gross sales) and bottom line (net) earnings. Your mission is to analyze cash-flow over 12 months, and making note of seasonal variations, so that you’ll obtain a big-picture understanding of your entity’s financial rhythms.

The cash-flow analysis invites your business to “tell” you where you’re making money and where you spend perhaps too much and should consider a less-costly alternative. Identifying areas where spending has you leaking cash is especially helpful if local or national economic conditions make clients inclined to limit the billable hours that feed your revenue. Fewer billable hours will magnify those pesky financial gaps and escalate the impact of a cash crunch crisis, should it occur. Ask your accountant or bookkeeper to run the numbers, or contact your local Small Business Association SCORE to make an appointment and obtain some (probably) free and trustworthy business finance management assistance.

Build a budget that reflects financial reality

Kick-off your fat-trimming budget project by reviewing variable and fixed expenses and verifying how each one contributes to maintaining operations, supporting business growth, supporting customer service and the customer experience, or enabling professional development that reinforces your standing as a thought leader and expert in your field. Whatever expenditures do not at least indirectly support the business or your professional position may need to either be funded at a more modest level or eliminated. Developing your revised budgetary focus does not, however, mean that you must slash as many expenses as possible. Your new budgeting approach should be strategic and guided by business goals and economic reality. Here are useful guide posts:

  • Cut expenses that do not support revenue generation, business operations, or the customer experience.
  • Protect spending on marketing and sales functions to encourage revenue, e.g. client acquisition and retention.
  • Build a cash reserve that can float three to six months of business operating expenses.

Use scenario planning to forecast a worse-case possibility and use that perspective to forecast the next 12 – 18 months of operations. What might your finances look like if revenue drops 10%? Next, consider a more disturbing future and forecast the financial challenges you would likely encounter if, heaven forbid, revenue drops by 25%? It doesn’t feel good, but the scenario planning component of your financial defense plan will force you to anticipate how you might manage and inspire you to think of how to cushion those harsh and stressful circumstances with some savvy advance planning. It’s always easier and more effective when difficult decisions are evaluated and potential remedies are devised when you are calm and not in a panic.

Before any storms arrive, remember that your best defense is a good offense. If at all possible, delay major capital purchases, but remind yourself to avoid severely slashing your marketing budget. You may decide to shrink it, but do not lose sight of the power of consistent marketing and its place as one of the three pillars of a healthy business. Companies that maintain their marketing presence during business downturns consistently outperform businesses that sharply limit marketing activities when the recovery arrives.

In fact, refocused marketing strategies and campaigns could surpass the effectiveness of your current, perhaps more costly, activities. Stepping back from certain paid advertisement and instead doubling down on publishing marketing content—which will cost time, that other valuable resource—could yield excellent results. To the best of your ability, and in accordance with what aligns with your business solutions and customer personae and preferences, consider one or more of the following:

  • Invite a client to participate in a written or video case study. It’s a highly persuasive tool that guides prospects to envision how your solution could resolve their challenge or help a mission-critical goal to be reached.
  • Look for opportunities to portray yourself as a thought leader; that could include moderating or appearing on a panel, speaking at a local business or industry conference or other meeting, teaching a credit or noncredit course in a subject that is aligned with the solutions your company provides, or obtaining an invitation to speak in a webinar or podcast.
  • Look for public relations opportunities that will enhance your visibility and strengthen your brand image. If you are teaching or speaking at a venue that’s open to the public, send a press release to a community newspaper or event listing sites. Also, post your speaking or teaching engagement on your website and social media platforms.

Diversify revenue streams

If your Freelance entity offers just one product or service, you are potentially quite vulnerable to the winds of economic instability. A shift in the competitive landscape, or a new tech product, for instance, can threaten your ability to make a living. Especially in a solo earner household, if revenue earning opportunities become scarce, the outcome could be difficult.

You might not see a quick fix for your problem, but you could create one by asking a question. That is, it could be worth your while to ask clients with whom you are currently engaged if they might be interested in expanding the work you do for them? Frame your proposal in a way that illustrates a desirable and tangible competitive advantage that the client’s company would obtain when your expanded work is implemented. Your clients may help you make lemonade of the lemons and provide you with a new income stream that you hadn’t considered. A complementary service that can be delivered as an add-on or upgrade might also inspire a client to envision how you might bring more value to his/her organization. Similarly, tiered pricing that offers a lower cost basic option as well as a higher-priced premium alternative that provides more extensive service, could bring a new revenue source to your organization.

Then again, it may be more feasible to develop an external revenue stream and explore the possibility of a side hustle. You may have noticed that most mentions of side hustles involve an entrepreneurial angle but that does not have to be the case. Traditionally, a side hustle was an under the radar job that wasn’t discussed with your colleagues. Just 10 years ago, a side hustle could have found you plowing snow in winter, clearing out dead leaves in autumn and performing basic yardwork such as weeding, mowing lawns and pruning forsythia and rose bushes in spring and summer.

BTW, independently or traditionally employed workers who take on a side hustle are for the most part not in financial distress. In fact, those who earn $150K annually are more likely to have a side hustle than those who earn $25K – $50K per year. But regardless of your financial circumstances, a side hustle is a way to future proof your financial position and build a cushion against financial uncertainty.

Leverage external financial resources

Grants, SBA loans and alternative lending programs are created to support business leaders as they plan to scale or aim to increase working capital that’s intended to protect viability during difficult business conditions. If rumors of possible economic uncertainty reach your ears, envisioning what a survival plan for your entity might look like is smart thinking. Sooner rather than later, make it a point to research your options, so that you are apprised of eligibility requirements and timelines that will allow you to prepare and survive.

If your business is carrying significant debt, understanding the landscape of small business debt relief options, including what’s available through programs like those outlined by the Consumer Financial Protection Bureau, can be the difference between survival and losing your beloved business. Also, revisit external financing strategies that match your repayment timeline to your cash-flow cycle.

In closing, be aware that economic instability that periodically occurs in your marketplace is not unusual. Every independently employed professional, traditional business owner and even employees will experience financial challenges at least once. Business leaders who consider financial resilience a given for which they consistently prepare, instead of an emergency response that’s cobbled together in a panic not only survive financial fluctuations, but often emerge stronger once “normal” business conditions return.

Thanks for reading,

Kim

Image: © New England Coin Exchange Cranston, RI

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Don’t Close the Sale, Educate the Client

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What does it take for you to bring in sales that convert prospects into clients? Perhaps you are a silver-tongued charmer who is capable of successfully “closing” a sale with almost any prospect? Or is the usual outcome of your sales process sort of hit or miss—not a disaster, but no one would wonder if you have a license to print money?

As you’ve done when unraveling other business obstacles, dissecting and analyzing how you sell, meaning that you’ll study the usual trajectory prospects follow when they include your service or product in their buyer journey—from the initial demonstration of the prospect’s interest to the outcome, when the prospect either becomes a client, or moves on to your competitor. Whatever you learn will indicate which of your intentions are not landing and may also direct you to the remedy. Begin with a review of sales basics.

  • Have you identified your ideal client and how to access them?
  • Do you know the usual pain points or goals that motivate prospects to consider your company?
  • Have you priced your offering appropriately?
  • How clear and convincing are you when articulating your unique sales proposition?
  • What’s your sales success rate when you must respond to an objection?
  • Are you able to detect buying signs that tell you when it’s time to ask for the sale (which could mean the prospect must contact the decision team and recommend a yes vote)?

If your analysis reveals that either your USP is vague and falls short of articulating the strengths of your offering, and maybe even leaves you vulnerable to objections that signal questions about its performance, you have a messaging problem. Attempting to defuse objections is not the cure for prospect hesitation; and bringing in a sale is no longer about dropping magic words that you hope will result in converting the prospect into your client. Enabling B2B sales in the post-pandemic ecosystem often requires that you educate prospects by presenting content marketing info that addresses their priorities and concerns and will, brick by brick, demonstrate that your solution is effective and reliable.

You must keep in mind, though, that the B2B sales process has become opaque; prospects developed an appetite for no-contact buying during the pandemic and the habit has become entrenched. Research from Gartner found that B2B buyers prefer a buyer journey that requires little to no contact with sales reps or other vendors (e.g., Freelancers); findings showed that 75% of buyers prefer to have little interaction with sellers. For that reason, B2B buying journeys and decisions are increasingly made without Freelancers or sales reps. If prospects must make contact to explore a question or two when evaluating from whom they might purchase, they hold tight to the self-serve, Do It Yourself mode. “I can handle this,” they say and you have little to no opportunity to influence, or even interact, with your prospect.

If interaction with the Freelancer or sales rep is unavoidable, a short list of “finalist” vendor candidates is typically contacted to schedule a product demonstration or learn the details of implementing and obtaining the service. But by the time you or any other vendor learns that a possible sale is in progress, the sale is already in BOFU, bottom of the sales funnel; too much has transpired to allow you to exert some control and influence over the sale. Any “sale closing spiel” is circumvented as you realize that you’ve stumbled into a decision that’s well underway—-without you. But Gartner research also revealed an upside, if you choose to see it that way—DIY online purchases are far more likely to result in buyer’s remorse.

Closing versus education 

Of course! Unless the prospect is re-ordering a service or product with which there’s been direct experience, it is unwise for prospects to assume they can successfully navigate the ins and outs of the purchase without guidance. They don’t know what they don’t know.

You designed your marketing/sales funnel to facilitate the initial stages of a buyer journey that’s conducted online and in DIY independent mode. Prospects whose level of interest brings them to MOFU and its gated content should feel comfortable to make email contact to identify themselves and request the info they’d like to view. The plan was for the Freelancer to thank the prospect for his/her interest, send the gated content and begin to discreetly monitor and guide the sales process. In so doing, Freelancers could also save any wayward prospects from themselves by being available to answer questions and make recommendations that encourage a successful experience with the product or service.

In fact, Gartner research indicates that those with sales responsibility should provide marketing content that captures the attention of prospects because the info communicates the value of your service or product and facilitates the decision process. The content must be relevant and aligned with the pain point that the prospect must resolve or goal that must be attained. That’s how a well-designed sales/marketing funnel should work.

More than ever, high-pressure sale “closing” tactics are not what typical B2B clients respond to today. The best way to bring in a sale in the current zeitgeist is to present a rational, evidence-backed case that reveals how and why your solution will effectively and efficiently resolve the prospect’s pain point or facilitate achievement of the goal. Rather than dwelling on product or service features and benefits, a strategy that was a given in 20th century selling, the best recipe now for Freelancers to obtain a degree of influence over the sale is to guide the prospect through a discovery process.

  • Diagnose the pain point and discover its origin
  • Document current, or previous, solutions that disappointed
  • Describe what doing business will look like when your solution resolves the pain point or enables the goal to be realized
  • Determine which solution appears to be most capable of producing the prospect’s desired results and outcomes

When a prospect contacts you for information about your solution, and you learn that a serious buyer journey that involves one of your solutions is in progress, you have nothing to lose and everything to gain by stepping up and seizing what may be your only opportunity to signal that you understand prospect needs and discuss and send “how-to” content and performance data, which can include one or more of the resources listed below. Your thought leader credibility will yet again prove its usefulness when it supports the value-affirming sales interactions that are most effective with prospects now and are the best option to move the sale forward. Helping prospective buyers feel confident and in control of the purchase decision (e.g., by providing a choice of tailored recommendations based on their input and criteria) builds trust that can enhance the perception of your solution and give you the sale.

  • Case studies and success stories
  • Webinars and podcasts where you are a speaker
  • Blogs, e-books or other articles that you contribute to or author

Thanks for reading,

Kim

Image: Image: © Prague Daily March 2, 2025 The weekly market in Prague’s Lesser Town.