People ask me all the time how I’ve managed to create a 6-figure+ business while only working about 15 hours a week. First, I had to build a solid foundation and set up systems that would support the business as it grew, systems that were either automated or delegated or easily repeatable.
Once I had the foundation and the beginning systems in place, I was constantly looking for ways to leverage my time and talent, and I still do. I could write a book on the many ways we do this in my business (and maybe I will someday) but in this 4-part series, I’m going to share with you some of the most effective ones that you can apply to your business today.
1. Is there something that’s happening in your market that’s got a buzz around it that you can take advantage of?
One of the ways to increase your exposure easily and more quickly is to seek out something in the news that applies to your market that you can ride on the coattails of.
Read the headlines of the New York Times or the Huffington Post for ideas. It can be something that you’re excited about in your industry. It can be something that you totally disagree with. It can be either end of the spectrum and it should be because either end is better than the middle.
For example, maybe there’s a book that was written that’s really hot right now. It addresses some of the problems that your market is struggling with that you help solve. You can piggyback on the popularity of the book simply by saying, “You’ve probably heard all of the raves and praise about this book. Here are my thoughts.”
You can either agree or contradict, and you can write or speak about it, whichever is your preferred modality. Doing this will help you stand out, you’ll get search engine rankings, and it could get you other media attention as well.
2. Get emotional when you’re writing your marketing copy.
If you can write passionately about what it is that you’re putting out there in the world then that’s fantastic. You should put energy, enthusiasm and passion into your overall marketing copy.
And that’s even more important when you’re telling your story. Telling your story is a critical piece to creating copy that sells. If you can write from a place of depth and passion about your story, then just sit down and write. Don’t try to get it perfect, don’t try to follow some copywriting formula, just write from your emotions, knowing you can always hone it. You can always make it more clear and concise. And you will.
If you get emotional about your marketing copy then three things will happen. It will draw your reader in and engage them. It will make it much easier for you to write if you’re emotional about it. And you’ll get more sales because emotion is what sells.
3. Put all your passwords in one place.
This was a time waster for me. All of my passwords were everywhere, on whatever little scrap of paper was near me at the time I made it. At one point I chose the same password for everything, which is not recommended.
Then I found this great little product that I’ve fallen in love with. It’s a cute little pocket-sized notebook that I keep in the middle drawer of my desk. It’s called the password keeper.
http://www.uncommongoods.com/product/open-sesame-password-reminder-… $13-
This is something so simple and yet I know that most people don’t keep all their passwords in one place, like on a single piece of paper, or in something like the password keeper.
Just don’t keep them on your computer. Your computer can crash or get hacked and your passwords can get hijacked. This simple idea will save you tons of time when you’re looking for your passwords.
4. Create a web page with all your log-in links and info.
Another time waster is trying to locate the log-in pages for the places online you utilize in your business. You can bookmark those pages, or set up tabs so they automatically open when you first connect with your browser, but that’s not an efficient way to run your computer, especially if you’re on battery power as when you’re traveling.
When I first did this it was a hidden webpage. It wasn’t password protected, but it was just a gobbledygook webpage attached to my main site. I had all of URLS of the sites I used regularly in my business on that page, so I could just click on AudioAcrobat, Aweber, 1ShoppingCart, NING sites I was a host or member of, etc. whenever I needed access to those sites. (The username and passwords were in my password keeper.) This page was one of the few pages I had set to open up as soon as I logged into my computer.
Then we moved everything to #5…
5. Create a wiki for your log-ins, your SOPs and more
As the business grew, the information we needed to run it grew and we needed a way and a place to organize it. I wanted it to be secure, easy to use, inexpensive and a place where my team could access the information as well.
And although I’ve tried a few paid services, we started with a wiki and returned to the wiki because it met all of those criteria – and it’s free (we use Google’s wiki).
A wiki is simply a place online where we keep all the info we need to run my business. All of the log-in URLs are there, all of our standard operating procedures are there, all the processes for how the business runs is housed in this one location online.
You simply create a table of contents and under each ‘chapter’ is where you put the info for it. It couldn’t be easier to organize all of your info and processes for your business.
Using the wiki saves a ton of time and money in my business. My team has access to the wiki to get the information they need instead of asking me for it. When we have a new team member come on board, we just point them to the wiki to find what they need to do the task they’ve been assigned. When I’m looking for something, I can just log into the wiki for it, instead of playing email tag with my team to get the info.
(Watch for Part 2 in this series next week…)
I’d love to know which one of these leveraging tips resonates the most with you – share with me below…
One of the ways I see entrepreneurs staying small (and frustrated) is by not being serious enough about how they manage their receivables in their business. Receivables is simply money that is owed to you. For example, there isn’t a business owner I know who hasn’t had at least one client’s payments become an issue, so if this hasn’t happened to you yet, know it most likely will. However, if you have certain things in place, it will be a lot easier for you to handle these situations, gracefully and respectfully.
So, let’s take a deeper look at that most common scenario: a client is late with their payment. When you address this with them, they tell you their situation and while you can and should listen with compassion, it’s imperative that you not take on the problems that they’re having and make them your own. That doesn’t serve either of you.
While we all can have money issues from time to time, if the client takes no responsibility for it – and yes, even when it seems it’s completely out of their control – then they’re coming from a victim mentality. But you can’t let them make you a victim of their situation as well.
First and foremost, ALWAYS listen to your intuition when signing on a client. You’ll only make the mistake once of not doing so before you regret it and realize taking them on didn’t serve either of you.
But there are also times when this situation comes up with a great client too. While the money situation is still theirs, for you, it’s a boundary issue. And it’s an opportunity to tighten your parameters and policies too.
We need to remember that we are running a business and as a serious business owner, we are entitled to monies owed to us. It’s why having clearly written and signed agreements and a written policies page are so important.
So while it’s the client’s responsibility to pay what’s owed, it’s your responsibility to collect what’s owed. This can and should be handled gracefully and respectfully. And it’s as easy as staying detached from their story and creating a plan to handle the situation.
If you commiserate, let the payment slide, and/or don’t make a plan on how it will be handled, not only will you start to feel resentful, but you’re also enabling the client to continue this disempowering behavior.
This is a perfect opportunity for you to step more fully into being a powerful model and mentor for them. When you’re talking with your client, tell them that you understand that this is a difficult situation for them, and then ask them what they are going to do to resolve it as soon as possible.
I know it feels easier to avoid conflict and commiserate with the client, but I have found that if you do that, the situation just keeps happening until you no longer put up with it. When you’re firm on your boundaries, you respect yourself and your business enough so you attract more and more ideal clients who are a joy to work with. I know this to be true.
I’d love to know your thoughts on this – it’s a hot-button issue for lots of business owners and clients alike, so please leave your comments below.
Chloe has a children’s book titled Milton’s Secret: An Adventure of Discovery through Then, When, and the Power of Now by Eckhart Tolle and Robert S. Friedman, which really simplifies the concept of living in the present moment, and how the practice of that will, for the boy in the story, eliminate fear and worry.
I wanted to explore that as it pertains to your business, with a slightly different slant. I wonder if you, like so many of my clients, and myself as well from time to time, are so hooked into the future that we’re missing the NOW and not fully enjoying the journey?
So how do we unhook from it to allow what we truly want to come to pass without always feeling like we’re striving for it? Here are 5 ideas:
1. Let go of the goals that take you away from the present.
Let me say first that you can have everything you want – and there’s no judgement here on what those things are.
That being said, do you want a mansion, to be the #1 speaker in your market, to be the one with the biggest email list in your market, to be a New York Times bestselling author, to make a million dollars? There’s nothing wrong with any of those lofty (and completely attainable) goals.
And, what happens is when we’re so focused on the sexy dream we tend to get ourselves so riled up about getting there that we miss all the amazing stuff happening NOW.
What I’ve noticed is that people get impatient, sad, frustrated, and even angry when they’re so focused on the future goal that the present seems uninteresting at best, despairing at worst. The antidote? See #2.
2. Polish the present
I want to encourage you to stop striving so hard and thrive in your present. What I mean is that if you make what you already have better, and polish what’s already good and working, you uplevel your life without expending that energy on something that doesn’t exist yet.
Yes, it’s about appreciating what’s already good and right in your world and in your business AND it’s about how you can make what’s already there fulfill you even more. It’s true that if you make the most of what you already have, you’ll get more and better of it with a lot less effort on your part.
3. Don’t plan so much
I’m all about having the big picture plan down to the day-to-day details, and yet I know that most of the time, the plan changes.
One of the reasons we – as business owners – plan so much is because it gives us a sense of control and it helps to alleviate the fears and doubts we have about knowing what we’re doing.
So have the plan and be willing to be flexible with it. Let it be a guide but not the only way. If you get wrapped up in THE PLAN you’ll actually hold yourself and your business back from being able to adapt quickly when things change – and they always do.
Assess if you spend more time planning than doing – and if you do, stop right now. And if you tend to fly by the seat of your pants more often than not, you might want a lightly-built framework around you to give you some sense of stability.
4. Get out of the striver’s club
Stop trying to acquire a better future with others who are striving. It’s just too exhausting. I’m not saying to surround yourself with lazy folks, but to get out of the overdrive club if you want to relax into a currently compelling present instead of an exhausting still ‘out there somewhere’ future.
5. Get off the ‘if/when’ rollercoaster
I admit this is a pet peeve of mine. Not from people who are decisive, but from people who use it as an excuse to not be happy now. When you make ‘if/when’ statements, you’re living in the future. Dreaming and visioning is one thing; otherwise it’s a holding pattern for you but even worse, you’re not enjoying where you’re at right now!
I’d love to know your thoughts on how to unhook from the future so you can enjoy the present – please leave your comments below.
Falling into fear and doubt as you build your business is normal, but there are many things you can do to catch yourself before you fall into what I call the Well of Despair. The Well of Despair is that cold, dark, spinning place filled with fear and doubt like…
“Can I really do this?”
“If this really going to work?”
“I’m putting in so much effort and it feels like I’m not getting anything in return.”
“I’m uncomfortable talking about my business because
I’m not where others think I should be and I feel like a failure.”
First, take heart. We’ve all been there, and back again. And while there are many things you can do to climb out of the Well of Despair or keep from falling into it in the first place, one of the most effective is to simply manage your own expectations about your rate of success. I’m defining success in this case as ‘consistent cash flow’ so here’s a time-tested (over 10 years) timeline to cash flow for your online business.
Knowing this timeline will allow you to manage your expectations, relieving fear and doubt that you’re doing things wrong or that you’re not doing enough. It also allows you to plan ahead so you can move faster through each of the phases OR pace yourself as best fits your lifestyle. The timeline also tells you what to focus on now or what to focus on next.
If you’re implementing the relationship model of building your business, it’s important to be prepared for the time it takes to build your business (this is not a get-rich-quick model, but a potentially highly profitable one with sustainability) and to set realistic expectations of when you’ll start to see a profit from your offerings.
Phase 1: Market and Message
You’ll move through Phase 1 typically within the first 3 months in your building your business. This is when you’re focusing on the problems you solve for your market. This includes discovering and defining the biggest challenges your market struggles with, and researching and/or creating the solutions.
Phase 2: Building Your List
Once you’re clear on who your market is and what solutions you offer to them, you’ll move into Phase 2, which is all about building your list. Currently, we’re striving to attract 500-1500 people to our email list by offering them a free sample of what we do. We start this process right after Phase 1 and focus on building the list as part of our on-going marketing efforts.
Phase 3. Making Offers
This is when you start focusing on how to generate an income with your multiple streams. This is typically done from month 7 onward.
This timeline will give you a sense of how long it can take to get to consistent (or even any) cash flow in your business, as well as stave off any frustration and overwhelm you may feel as you get your online business off the ground or continue to build it. Remember, it takes twice as much fuel for a jet to take off as it does to cruise at altitude. It’s the same in your business. You’re putting in more effort in the beginning but you’ll be cruising later.
Of course this is just a typical timeline. You can always move through it faster or slower, depending on your time and efforts.
I go into this Timeline in a lot more detail with my private clients as well as in our L.E.A.P.™ programs, so if you’d like to learn more, go here.
Where are you in the timeline and what’s your next step? I’d love to know so feel free to leave share your thoughts below…
I’ve personally invested over $100k in my own business education (not including my MBA) and I’ve leveraged that investment into well over a half-million dollars in the last few years.
I’ve said before that I will make my million – in my time and on my terms. And because I’m sensing this strong undercurrent of desperation in many business owners about making 6 or 7 figures, I wanted to invite you to take a different tact:
Ask yourself, what’s the least income you can make right now and still live a happy life?
Not ‘I want to make a million dollars by the time I’m 40’ and you’re 39 now and the most you’ve ever made is $50k. Not ‘I want to make 6 figures by the end of 2013’ and your current monthly revenue is $2k.
So, what’s the least you can make that will take you to that very next step in your vision – not the BIG vision – but just the next bump up?
What’s the least amount of money you can bring in that will give your current lifestyle the boost that will make you smile, that will make you feel and know you’re moving forward, and that will continue to motivate you onward?
You see, I’ve been asking myself the same question lately. And the reason is because I’ve been starting to feel really stressed in my business and frankly I’m not having as much fun as I used to in it either.
And because of a few other things that are attributing to this feeling of heaviness that are outside my business, I’ve been feeling a need to shift things. Just small shifts for now, while allowing the bigger shifts to more fully form without pushing them into fruition until next year.
So here’s my answer to this question and how you can figure it out for your own business too:
Step 1: Get cash clear
Get crystal clear on how much money you really need to live the lifestyle that you’re happy with, not the one you’re striving for (I guarantee when you give up this grip, money will flow more abundantly to you).
This may mean having a conversation with a spouse or partner. Do it. Especially if you are in a financial partnership with someone else, you’re likely not the only one feeling the push and the pressure for more. Do yourselves both a favor and figure out what’s the minimum level for you. You may be able to give up or put aside one or more of your current income streams so you can have more of the time freedom you crave, knowing you still have enough to enjoy your life.
Step 2: Be sure all your eggs aren’t in one basket
If you’re relying on high-end pricing and programs to carry your business, you may be setting yourself up for a financial fall. Your clients and customers are being more and more discriminating about where they’re spending their money – and that’s not going to change anytime in the near future, not while our economic outlook is still bleak.
Be sure to have different ways in which you can serve your market, not just one-on-one. Offer lower priced programs and products to help more people as well as to diversify your cash flow.
Step 3: Build your business around your life
This is a mindset shift for many people. But if you’re in business for yourself, isn’t it so you can design the life you want to live? Not so you can work more, but so you can work less, and still enjoy a great life with the income to support it?
In order to do that, you have to schedule your life first, then your business-building activities around that. This is how I’ve been able to take off almost 3 months every summer for the last 7 years. My business doesn’t suffer; in fact, it grows because of my commitment to this principle.
Figure out how to make the money you want for the next level of your business (again, not the BIG vision, just the next bump up) in the time that is left after you’ve planned the life you want to live first. Then ask for the support or hire the team you need to help you make this happen.
When you put your life first, the time towards what makes you happy, the focus on just the next bump while you tend to LIVING, all the ‘more’ you want (which we all want, by the way – we are all here to grow and to be, do, and have more) will come. This I know for sure.
I’d love to know your thoughts on this – please leave your comments below.
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