Why Making More Money Could Be Making You "7-Figure Poor"

Many roads lead to being “7-Figure Poor,” but one that is significant and often overlooked is a lack of retention.

We frequently hear business owners say, “There just isn’t enough money coming in.” They come to us seeking tax-saving strategies (which we’re happy to provide). However, one of the first questions we ask is:

What is your retention percentage?

It’s basic math: If you focus on making more money and forget retention you will experience compounding loss. 

When your revenue comes largely from loyal, returning customers, your profits can triple. Instead of relying on one-time high-ticket sales, you create a steady flow of repeat business, referrals, and organic growth. This is the formula for sustainable, long-term profitability.

Retention isn’t just a strategy—it’s the lifeblood of your business.

Why Retention Matters More than Ever

Let’s paint a picture:

Kerri is a rising star in the entertainment world. Her concert tickets sell for $500 each, and her promoters are phenomenal at packing venues. Fans love her music and eagerly purchase tickets, expecting an unforgettable show.

But concert after concert, Kerri shows up late. Her performances are uninspired, and fans leave feeling disappointed.

Will Kerri retain those fans? Probably not. While she’s raking in hundreds of thousands per concert now, the lack of repeat business will hit hard over time. Her fleeting revenue stream will eventually dry up, leaving her stuck in the 7-Figure Poor cycle.

Does this sound familiar? Many business owners focus so much on attracting new customers that they neglect the most profitable part of their business: serving their current ones.

How to Boost Retention and Profits

Retention isn’t magic—it’s a matter of consistent implementation.

While you or your sales team may excel at attracting attention and closing deals, the real question is: Are you delivering on the promises you make?

Here’s the secret:

• Customers don’t need you to have the largest audience; they need you to deliver results.

• People buy based on emotion, but they stay because of consistent value.

If you build emotional connections with your audience through excellent marketing and back it up with exceptional service, you’ll create fiercely loyal customers. And loyal customers don’t just come back—they bring others with them.

Practical Steps to Improve Retention

1. Audit Your Delivery: Look at your customer experience from start to finish. Are there any gaps where promises fall short?

2. Engage After the Sale: Don’t let your customers feel like they’ve been abandoned once they’ve paid. Offer follow-ups, exclusive perks, or ongoing communication to keep them engaged.

3. Ask for Feedback—and Act on It: Loyal customers appreciate being heard. When they see their input shaping your business, they’ll stick around.

4. Reward Loyalty: Simple gestures, like loyalty programs or personalized thank-yous, go a long way in making customers feel valued.

Retention = Freedom

When your business has strong retention, you’ll experience:

• More predictable cash flow

• Higher lifetime customer value

• Reduced stress from constantly chasing new leads

Retention shifts your focus from hustling for the next big sale to building a business you (and your customers) love. This means not only scaling your wealth but also reclaiming your time and enjoying your life.

Don’t just attract—serve, deliver, and retain. That’s the road to truly enjoying your profits, your business, and your freedom.

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Seven Figure Profits is a CPA firm that helps you build your financial sanctuary. In the intricate dance between prosperity and purpose, we understand that true financial wellbeing is more than numbers on a ledger—it's the foundation of your peace of mind. Our approach to tax strategy unfolds like a carefully composed symphony, where each note plays its part in creating a masterpiece of security and growth.  Visit our profile to learn more.