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The $100 MBA Show

MBA2171 How Making More Expansion Revenue Is Easier Than You Think

The $100 MBA Show

Omar Zenhom

Careers, Entrepreneurship, Business, Marketing

4.91.2K Ratings

🗓️ 3 November 2022

⏱️ 13 minutes

🧾️ Download transcript

Summary

For an independent business, revenue is life. It’s the oxygen your business needs to breathe, the runway it needs to stay alive long enough to grow.

Transcript

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0:00.0

Hey, welcome to the $100 NBA show powering up your business every single day with her daily 10 minute business

0:15.4

lessons for the real world.

0:17.6

I'm your host, your coach, your teacher Omar is at home.

0:20.8

I'm also the co-founder of Webinar Ninja, an independent software company I started

0:24.3

my co-founder back in 2014. And in today's lesson you will learn how making more expansion

0:29.9

revenue is easier than you think. Expansion revenue is just a fancy term to say

0:34.7

make additional revenue from your customers selling them more products, more

0:38.5

services, add-on products, done for you services, name it the boy years that expansion

0:44.0

revenue is incredibly important to the health of your business it allows you to

0:48.5

increase the average revenue per customer that means for every customer you bring in, they spend more money. That

0:54.9

means you don't have to work as hard bringing in new customers. Or even more so, as you bring

0:59.7

in more customers, they spend more money. This increases your revenue, your profits, and allows you to have some

1:05.1

healthy, healthy margins. But many people complicate making more expansion revenue. They think

1:11.9

they need to do some sort of

1:12.9

full-on new product they need to invest 18 months in building or some fancy

1:17.4

expansion revenue upsell funnel or maybe they think they need to hire a

1:20.8

sales team to close more expansion revenue sales.

1:24.0

I'm here to say there's one thing you can do to massively improve your expansion revenue,

1:29.6

and it's not that complicated.

1:31.8

I'm going to share with you what is the one thing that I've done in my business

1:35.4

that allowed me to increase my expansion revenue by 300% in this past year.

1:41.4

So let's get into it.

...

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