While the message and the market of your business may be different, there are some stumbling blocks that seem to pop up for even the seasoned entrepreneur.
Here are four of the ones that I frequently coach on with my private clients:
1. Not moving ahead even when they know what to do.
Almost always, this is a fear-based immobility. Whether it’s fear of failure or fear of success (the later seems more prevalent for entrepreneurs, including myself).
We come up with all kinds of excuses as to why something isn’t getting done, but most often it has nothing to do with anything other than fear of the possible result of moving forward.
If you’re afraid of failing, remember that in our online world, we get to test things out with very little risk. My favorite strategy is to ‘fail fast’. Put it out there, see what happens, tweak until you get the result you want.
If you’re afraid of success, then you need to take a look at your Big Money Why (BMW – see #4) to see how you can make it more powerful and motivating (tip: money is never enough of a motivator, believe it or not). And you need to put a process in place for how you will handle the abundance that’s to come.
2. Being self-disciplined enough to make and stick to self-imposed deadlines.
The wonderful thing about being an entrepreneur is that you’re your own boss. The tricky thing about that is most, if not all, of our deadlines are self-imposed. Which makes them very easy to move, doesn’t it? I know because I’ve struggled with this one more than once.
If we go back to knowing what your emotionally driven motivator is for the success you desire, you’ll be more likely to stick to those self-imposed deadlines – but only if that BMW is strong enough.
Here’s a simple but very powerful tip for you in sticking to your own deadlines: Make them public. When I launched my first info-product, I told my ezine list that they would be able to buy it on a certain date, which gave me about 3 weeks to get it done. And done it was.
3. Claiming leadership status and fully stepping into the role of the CEO of your business.
Once an entrepreneur gets the foundational pieces in place for their business, it’s actually easy to stay in the start-up phase, because it’s comfortable. And because often they don’t know what the next step is, what the next layer of the business should look like, to take them to the next level.
The sooner they can take on the leadership role, by becoming the CEO of their business (even if they don’t call themselves that), the faster the growth of both the entrepreneur and the business.
One of the ways you can step more fully into that role is by delegating. So if you’ve been in business for a couple of years and you’re still doing too much of the managing of it, and especially if you’re doing all the admin work, and you haven’t hired an assistant yet, it’s time. Start with one small project and add from there.
For every task in your business, ask yourself, “Is this something I should be doing?”
Because remember, even if you CAN do something doesn’t mean you SHOULD.
If the answer is no, then pass it off to a capable assistant.
4. Having an emotionally driven motivator for your Big Money Why (BMW).
This is probably the most important one…
Money is NOT enough of a motivator, no matter how much you want it, or are attached to the ’6-Figure’ or “million-dollar’ mark. There has to be a reason behind wanting it, something that is so strong that it drives you and the business forward, no matter what.
If you find things aren’t moving as quickly as you’d like, or it feels too hard much of the time, or you just aren’t using your time and talent effectively, take a look at your Big Money Why. And if you haven’t done this before, then that’s your coaching homework.
In as much detail as possible, write out why you want the financial success you do. Is it to give to your family, is it to give to others, is it to create a charitable foundation, is it to take care of elderly parents, is it to enable your children to get the best education you can give them, is it to travel and expand your world view, is it to buy a nicer home for your family, is it to give experiences to those you love – they are a thousand reasons why, but you need to be very clear of what they are for YOU before you can make them happen.
Inside the Lively Biz Business Club, we focus a lot on your Big Money Why, as it’s one of the most powerful exercises for shifting the members into passionate action in their business.
Click here to get on the wait-list to be first to find out when the Club re-opens
Want to encourage people on your email list to buy one (or more) of your products or programs sooner than later? Have a sale! I’m sharing 7 super-simple ways that you can provide great value to your audience while bringing in a great profit for you at the same time!
7 Ways to Have a Sale Today
1. Half-Off Sale
Offer your product or program for 50% off its usual price. That may seem like a big discount – and it is – which means that many more people are likely to buy it.
Or go one step further and offer all your products or programs at 50% off (except any one-on-one work with you, of course!).
I’ve been thinking about buying a few products over the past year from one site, and when they had a 50% off sale recently, I jumped at the chance to buy not just one, but three products for half-price. Give your list the chance to do the same.
2. Close-Out Sale
Do you have a product or a program that you are no longer going to offer, perhaps to make room for some new offerings? Or are you coming out with a new version of one of your offerings? Have a close-out sale by offering a deep discount.
As an added bonus, you could then offer those people who bought your offering at the close-out price that same amount in a discount if they buy the new version.
Here’s a bit of inspiration for you: One of my close-out sales brought me over $10k in less than a week.
3. Re-Gift Sale
Remember the Seinfeld episode about re-gifting? Do something similar for the stock of any of your products that have been returned. “Re-gift” the ones in good condition to a new buyer for a discount.
4. VIP Sale
Offer a coupon or promo code ONLY to your email list, or to your clients, or to those people who have bought from you before, that’s good towards the purchase of any one or all of your offerings. You can set this up in your shopping cart system very easily, so there’s no other extra work on your part.
5. Free Shipping Sale
Offer free shipping on any of your physical products for a limited time, or offer free shipping on all orders over a certain amount.
Personally, if I’m looking to purchase something online, I always search for (and almost always find) a ‘free shipping’ code before I buy.
6. Bonus Sale
Add a valuable bonus or two to your offering for a limited time. It can be something you’ve created or something from one of your colleagues that your niche would benefit from.
Leverage this kind of sale by doing a “bonus sale swap” with a colleague, where they would offer a bonus from you and vice versa. Your own sale will bring you cash, and your bonus offering for your colleague’s sale will bring you more subscribers to your list, which will ultimately bring you more cash.
7. Just Because Sale
This is a favorite of mine – having a sale just because – it’s your birthday, you want to show your gratitude to your list, it’s the 1, 5, or 10 year anniversary of when you went into business for yourself, or for any other reason you can think of.
Having a sale WILL bring in more immediate cash, but there are some cautions to take when doing so too. Only have a sale occasionally, and when you do, have a compelling reason for it. Otherwise, if it seems you’re always having a sale, you’re planting a seed in your potential buyer’s mind that your offerings may not be worth their regular price.
So, which kind of sale are you going to have to put some extra cash in your pocket today? Share with me in the comments.
Feel free to share this post with your friends and colleagues via the buttons below too – thanks!
PS: There are definitely some nuances to making a sale be really successful for you, and that’s something we talk about in the Lively Biz Business Club (my most affordable coaching option). To find out more, be sure to get on the wait list here today, ok?