Did you know there are a handful of business “ingredients” that you literally cannot make any money without?

Today, I’m going to break down the 3 things that you need to succeed — and, the higher of a level you reach with each of these components, the greater success you’ll be able to achieve.

First up? You need PEOPLE.

1. People

Everyone knows that to make money, you need people to exchange value with.

How exactly can you “have” people? Well, in business, this generally comes down to having connections with potential customers. This could look like subscribers on your email list, followers on Instagram, or people you know locally.

Without enough of the right people, your business’s capacity to earn will be severely limited.

Now, of course I don’t mean that you need “better” people to scale your business, but there is a chance that you need different or more people.

Here are a few ways to improve the “people” component of your business:

Niche Down

The right niche of people will be willing to pay a higher price because you offer a product tailored directly to them. Find your target audience — those specific people you want to sell to — and identify the problem you aim to solve.

Get Clear

There is a chance that you have been attracting the wrong people if you haven’t been clear about what your product, brand, or business is all about. Being clear about your identity will attract the kind of person you want to sell to.

Increase Visibility

Attract more potential customers by expanding your advertising. How can people know about your product if your scope is too small?

2. Product

It will come as no surprise that to make money, you need to sell something.

So, the basic check is: do you have a product you’re trying to sell? If not, start by creating one.

Then, when you’re ready to level up your business’s products, double down on your product positioning — which really comes down to this: how do you explain the result your product will get for your customers?

People are more likely to use your product if they see and know that it works! So, does it work? Position your product in a way that allows your target market to understand what your product does.

Your product could be amazing, but if customers don’t understand what your product can do, they may not be willing to buy it or pay much for it. Hone in the quality, hone in the product.

3. Process

How do you connect the people to the product?

As great as your product may be, if you don’t have a system that connects these two things then you still won’t make money.

Your business’s “Process” needs two components:

Sales Funnel: Every money-making business has a sales funnel (or a sales process). What is your business’s sales process, and how well does it work? Are you gaining visibility? Is this visibility turning into leads? Are you communicating with these leads, warming them up, and getting them ready to buy?
Purchasing System: What is your purchasing system? Having a process to actually close the sale is a crucial part of your sales funnel.

Not sure what to work on first? Ask yourself these questions on a scale of 1-10:

How strong is my visibility?
How strong is my lead generation?
How strong is my engagement?
How strong is my closing?

From here, work on the weakest of these areas! The weak link of these four areas is going to hinder your marketing chain as a whole.

What if I don’t have a sales process in my business?

If you get to this point, what if you realize that you’re not currently converting visibility into leads, or your engagement doesn’t lead to closing? Keep this in mind: you will not start making money until you have a sales process.

This is crucial, but don’t get overwhelmed and let this become your priority. Focus on your people and product first. You can’t create a sales system to sell if you don’t have a product to sell or a person to sell it to.

Want to peek behind the scenes and see the funnels that earn my business multiple-six-figures of passive income? I recorded a 4-video breakdown of one of my six-figure funnels so you can reverse engineer my strategy. Enter your info and I’ll send you the link to access the free training! 👇

3 Things Every Business Needs to Succeed