P.L.A.N. for Profit Framework: Make More Income in 2024

Hey Friend!

Want to increase your business’s profit this year? Are you waiting for more income to come flooding in? I can help you do that by following my P.L.A.N. for Profit framework.

I’m excited to discuss this with you as we prepare our hearts, minds, and businesses for this year. A plan is crucial for entrepreneurs, but following my P.L.A.N. for Profit framework will help you generate more income this year.

Essential Numbers To Consider:

1. Revenue

When we think about profit, we want to consider two critical numbers. We have top-of-line sales, which is what you sell in your business. This is called revenue. Some examples are selling an online course or a coaching package. Simply put, it’s selling a product, and this is what you are marketing. Sales are what bring more income into your business.

2. Expenses

The next thing listed on your profit loss statement is your expenses. This includes all the things your business needs to run and operate. Some examples are:

• Podcast host
• Software
• Team expenses
• Paying taxes

All the money that comes out of the business is the expenses.

3. Profit

What is left after you deduct expenses from revenue is profit. This is a simple way of explaining profit, but there is more to it than that. Today, we are going to focus on profit in your online business. When we think about scaling, we have to consider profitability. 

It’s one thing to hit $100,000 in your business, but it’s quite another thing to hit $100,000, spend $90,000, and only come out with $10,000. I am consistently looking at not only top-line revenue but also profitability. Let’s dive deep into my P.L.A.N. for Profit framework that you can implement and take to the bank! 

P- Product

The first letter in my Profitability framework is product.

When we think of profitability, we should consider the type of product we are selling. As a network marketer in my early entrepreneurship days, I worked for someone else—an affiliate for someone else’s product. I only earned 20-30% commission, and of course, I came out with a very low profit margin. 

For example, if I start the lipstick business, I spend $500. I sell 50 lipsticks for $10 each, but I only make a 10% commission—that’s $500 x 10% = $50 only. Even though you say you sold 50 lipsticks at $10 each and made that much in sales, we have to consider profitability; in this example, it’s deficient.

People in the online space like to flash around many big numbers, but at the end of the day, how much are you making, not just how many are you selling? There’s a big difference; only profit keeps your business thriving.

L – Leverage

When you think of profitability, you want to consider leverage. Always consider leveraging something that is already working in your business. A mistake that I often see people making is creating a second offer after their first offer has sold a few spots.

This is one of the biggest mistakes you can make when creating your first offer. You should leverage and double down on what you already have — your first offer. 

You may be wondering how you leverage what is already working. 

• You can automate
• Do a launch of this one offer
• Capture every single step in your launch, rinse, and repeat 

Do what works, and then keep doing it again and again. The goal is to get 1% better every time you try to sell this one offer, which will open the door for more income.

Consider all the different ways of marketing this one offer

Once you have this one product that sells, consider the 10 different methods of marketing this product and sell it in various ways. You can market your product on:

• The podcast
• Within your email CTA
• YouTube Channel
• Facebook community
• Blog

You want to leverage all the different places where you appear in your business so you can boost that one product with a high-profit margin.

A – Analyze

We constantly need to analyze our business. Maybe you do this in a mastermind or in some other way of self-reflection. No matter how or where you are, you need to grow consistently, learn, and participate in personal development as a business owner. Follow that up with a deep analysis of your business.

Sometimes, we trend away from our ideal listener, and it’s hard to know that we are doing that if we don’t look at the numbers or analyze our business.

That happened to me in 2019 when I had to rebrand the show. I was close to the half-million dollar revenue mark, and without realizing it, I started speaking to my audience as if they were in my shoes, but they weren’t. 

I talked to people who were starting a business and trying to reach their first $100,000. These people were in the first 1-5 years of business. I needed to check myself and go back to speak to those starting, not those already making half a million. The only way that I realized this was by analyzing the data. 

I realized my podcast downloads had stagnated for three-plus months, and my messaging was off. I needed to do more market research and hear from my people again, and then I needed to speak in their language. Using their words and phrases (not my own) in all business areas will help bring in more income. 

Podcast Host Analytics

Be sure to analyze often. One of my favorite places to explore is inside my podcast dashboard. I will teach you how to do this inside Podcast Pro University. Get a sneak peek into Podcast Pro University with my workshop, Podcast for Growth, which teaches you why podcasting is a great way to start an online business.

Once you have launched that podcast, dive deep into the analytics. They show you the popular keywords and episodes people listen to most. We can analyze all these stats inside the podcast host dashboard.

Facebook Community and Email List Analytics

You need to analyze your community, whether inside Facebook or elsewhere. Take the time to do market research inside your Facebook community or within your email marketing. These are two great opportunities to do a quick poll of your audience and ask them: 

• What was your favorite content this year?
• The number one problem you are struggling with right now?
• What would life be like if you didn’t have that problem?
• Your biggest goal for this year is?

These types of questions get people talking to you. You can analyze their words and the content they provide in their answers. Our offer will generate more income when we are on point with the messaging, and then we can leverage that better.

N – Nurture

Lastly, we want to consider nurture regarding The P.L.A.N. for Profit Framework. It’s important to note that not everyone converts the first time they meet you. Sometimes, they want to date you. In other words, they want to ensure you are right for them.

They want to get to know you through your email list, listen to your show, and get to know you more over a certain period. It depends on the type of buyer they are. What’s important is to know that I cannot control when someone buys, and neither can you. I can only control how I interact with them and encourage them to buy because I believe my offers ultimately answer their prayers. 

Many people come to me asking for help starting a podcast or are unclear about their calling. I have an answer for that: Podcast Pro University and Clarify Your Calling. Others want my help making money and having more income from their podcast because they don’t know how to do it. They don’t know how to create a course and do a live launch. I have a course for that. It’s called P2P. 

Is Your Offer Solving Their Problem?

I truly believe in my heart that my offer solves their problem. And you have to accept that, too, when selling your offer. It’s your mindset, a belief that your offer is the solution to their problem. Then, you have to nurture them until they buy.

It’s okay if someone listens to your podcast for 10 years and never buys. They might buy at the 10-year mark. You will never know, but always be there for them.

It doesn’t matter when. It matters how you show up.

• Be consistent
• Stay disciplined
• Always show up
• Pour out your all
• Reach out
• Email them 
• Post in the community
• Loving on them… no matter what! 

I never get mad when people don’t buy. I have an open-arm policy: We invite. We don’t push; we nurture and love, and that, in turn, creates excellent conversion. The best place to hang out with me and be nurtured by me and my team is in my community.

How To Nurture Your Audience

There are so many fun ways you can nurture your audience:

• Customer engagement in your groups
• Feedback questions
• Polls in your emails
• Loyalty programs
• Mompreneur of the month
• Prizes for people who are highly engaging in the group

Nurturing your audience in this way will help create more income. 

When a customer eventually converts and decides to buy from you, the conversion rate is typically 40-50% from one course to the next. 

Your profit depends on loving people so well that when they are ready for more, they turn to you. Once they are in, they want to re-up when their program expires and join your next offer.

Use this P.L.A.N. for Profit framework to help you get really clear on your goals and what you need to focus on over the next 12 months to bring more income into your online business consistently. I want to leave you with one question to ponder over. What does success look like for you? How do you want to make an impact on this world? What are you afraid of? Rebuke it, push through it, and come out with brave action so you can grow into what God has for you. 

I pray this blesses you!

APPLE PODCAST | SPOTIFY | YOUTUBE

LISTEN TO RELATED EPISODES:

Stumped on What to Say? 3 Simple Steps to Nail Your Podcast Content

10 Reasons Podcasting is the Best Way to Make Money Online

How to Become a Full-Time Podcaster: 6 Steps to Monetize So You Can Quit Your Job

WATCH RELATED EPISODES:

STOP Wasting Time and GROW Your Business in 2025 With These 3 C’s

How to Get Ahead of 99% of Businesses – 3 Biggest Myths

Easy Way To Grow Your Podcast | Get 10K Downloads Faster!