Dr. Steve Day introduces the concept of the Core Revenue Flow, a tool he uses to help businesses visualise how they generate money and identify areas that need attention. He explains the different stages of the client journey, from creating awareness to delivering the service and getting repeat business.
Steve emphasises the importance of systemising these processes to create a business that can scale without the owner’s constant involvement.
He provides a downloadable template and walks listeners through a real-life example to demonstrate how to implement the Core Revenue Flow in their businesses.
Focusing on the parts of your business that you love and ignoring critical areas can hinder the success and profitability of your business.
The Core Revenue Flow is a tool that helps visualise how your business generates money and identifies areas that need attention.
By systemising the creation of new clients, delivering services, and getting repeat business and referrals, you can create a scalable business that doesn’t rely on your constant involvement.
The Core Revenue Flow template helps map out each stage of the client journey and identify areas that need improvement or attention.
It’s essential to prioritise and focus on the core revenue-generating activities in your business to ensure sustainable growth and profitability.
3:35 – “Your business needs to be creating revenue in order for it to be sustainable and for you to continue doing good in the world.”
3:58 – “Your business cannot scale without you. It can’t function really without you. If you can’t create revenue without your day-to-day involvement, then it’s not a business that can grow beyond you.”
4:18 – “The Core Revenue Flow allows you to be sure that you are generating the most amount of revenue possible by systemising the entire flow even if you’re involved in it.”
14:23- “The idea of the Core Revenue Flow is to say, if everything else failed in my business, if I just had this one revenue stream, this would still sustain the business.”
39:21- “You need to be aware, like, is it happening, even if it’s happening badly? Is there anything more important that I need to actually just get off the ground and start before I then start working more on the stuff that actually exists, even if it is really bad?”
01:18 Video and template help map out revenue flow.
03:47 Systemized core revenue flow for maximum profit.
09:10 Closing opportunities: Zoom/phone calls, proposals, agreements.
Follow-up: Calls, texts, emails, automated/manual.
Taking money: Cash, website checkout, phone, invoice.
Upselling: Added value, discounts, and special offers.
Utilising momentum: Justifying and maximising their investment.
11:42 “How to amplify and generate repeat business: case studies, testimonials, referrals, community, loyalty discounts, mapping revenue flow.”
14:21 Property managers and estate agents need multiple revenue streams.
19:39 Actual tasks: products, services, generating leads, sales.
20:59 Web link for call booking on the website, live events, warm-up ban not active. Nurture stage: send emails and educate about business. Prospect stage: convert leads into prospects. Sales campaigns, strategy calls, lead magnets.
25:49 Automated onboarding, support, courses, feedback, referrals
27:36 Logical process for clients, engage, improve, bigger audience, software stack.
31:28 Improving the orange triangle needs attention and revenue flow.
34:19 Focus on revenue and increase ad spend for more clients.
38:30 A Red circle indicates bad, but don’t act.
Core Revenue Flow TEMPLATE: https://pod.systemizeyoursuccess.com/core-revenue-flow-template
Facebook Group: Facebook.com/groups/systemsandoutsourcing/
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ABOUT THE HOST
Steve used to be a slave to his business, but when he moved to Sweden in 2015, he was forced to change how he worked. He switched to running his businesses remotely. After totally nailing this concept, he spent his time helping other small business owners do the same. Steve’s been investing in property since 2002, has a degree in Computing, and worked as a doctor in the NHS before quitting to focus full-time on sharing his systems and outsourcing Methodology with the world. He now lives in Sweden and runs his UK-based businesses remotely with the help of his team of Filipino and UK-based Virtual Assistants.
Most business owners are overwhelmed because they don’t know how to create systems or get the right help.
Our systems and outsourcing Courses and coaching programme will help you automate your business and work effectively with affordable virtual assistants. That way, you will stop feeling overwhelmed and start making more money.