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…
Are you like many business owners who are confused or stuck when it comes to creating a unique, memorable, and authentic brand? If so, you’re not alone. I’ve been there myself, so I understand the frustration of feeling stuck on this whole branding thing.
But once I discovered that if I looked at it from a completely different perspective, that my brand wasn’t just about my business, but about ME, everything shifted.
Creating your brand from the inside out allows you to fully step into your business identity in a truly authentic way. It’s also the easiest way to stand out in the sea of others who do what you do.
So, if you’re stuck, let me give you three things you must be clear on in order to create a truly compelling and unique business brand.
Strategy 1: What results do your clients experience from your service?
One of the exercises I do with my private clients is have them generate a long list of the results their clients get from working with them.
You can easily do this right now. Just complete this sentence 30 times:
“The results my clients get from working with me are ___________________________.”
If you get stuck, here’s my secret: Send this question to your clients so they can tell you the kind of results you’re helping them create!
For example, when I asked my own clients this question, here’s some of what they shared:
“The results I get from working with Alicia are…
– clear, easy to follow instructions on strategic Internet marketing techniques
– insightful advice from a trusted mentor who understands my business
– generous knowledge and expertise, honest feedback and support, focus and direction
– more clarity on which steps to take to experience more alignment with my business/life purpose
– I now see the bigger picture and base my decisions on the ‘whole’ of my business, rather than just the next thing.
– stretching me in ways and areas that I could/would not do on my own
– more clients, more money and more fun in working with my business
– getting me out of my comfort zone so that I discover what is possible when I play a bigger game
– more clarity and awareness around time sucking activities that I am engaging in so that I can STOP doing them
Strategy 2: What are you an expert at?
Once you have a solid and in-depth grasp of the value you bring to you clients and the results you help create with them, you should easily be able to define what it is you’re an expert at.
Complete this sentence: “I’m an expert at________________________.”
Strategy 3: What does your brand promise?
Let’s take it one step further…
Your brand promise is a statement that is pretty specific. It’s true regardless of the program, product or service you may offer. No matter what the program, product or service, it always fulfills your brand promise.
And just to be clear, I’m not talking about your marketing tagline. What I’m talking about goes much deeper than that, to the very core of what it is that you are so passionate about providing to others.
My brand promise is, “I mentor women entrepreneurs to create priority-based, highly profitable businesses in less than part-time hours.”
So, my high-level private and group coaching programs, Online Business Breakthrough Workshop, 21 Easy & Essential Steps to Online Success System™ and LIVE program, L.E.A.P.™ Learning Lab, and the rest of my offerings all fulfill this brand promise.
Here’s one from one of my past clients, Dale Carter at TransitionAgingParents.com:
“I provide trusted information and personal insight to inspire adult children to passionately pursue, for their aging parents, the quality of life their parents hunger for.”
So everything that Dale offers to her specific market fulfills this overarching promise. Dale knows what she is an expert at and that shows up in her brand promise very clearly.
So, what does your brand promise? What is it that your clients can count on you for?
The formula for an effective, compelling, memorable, authentic, fun and fabulous brand is really very simple:
“I get X results for my clients, which makes me an expert at Y, which means they can count on me to provide Z.”
Voila!
I’d love to know your thoughts on this – please leave your comments below.
I love attending live events, for the learning, networking and most of all, for those ‘aha moments’ that always pop. I choose to attend very few events each year, so I’m always very cognizant of getting a big return on my investment of time, energy and money. Attending Lisa Sasevich’s Impact & Influence event didn’t disappoint.
Here are three of those aha moments I had from attending I&I that I hope you’ll find of value too:
1. In terms of money, you can only receive what you allow yourself to receive.
So consider how that may play out in your own sense of worth, in both the level at which you invest in yourself as well as the level at which you ask others to invest in you.
For example, if you invest in a $2500- program, are you asking your market to invest in a $2500- program with you?
On the other, more common, hand, are you asking your market to invest in you at a price point that you’re not willing to invest in for yourself?
Where in your business might there be this incongruence?
2. When you feel like you need to add another element to a program (to ‘justify’ a higher price), add more transformation instead.
You may have heard me say before that people buy based on emotion, not necessarily on logic.
When you’re writing your copy for your offer or speaking about your offer, you want to spend 90% of your words on the transformation that people will get as a result of engaging your services.
You can think of it as the transformation, or the outcomes, or the benefits, that someone will receive as result of being in your program, buying your product or siging on to work with you one-on-one.
3. “I already know that…”
Whenever I attend an event, I make the effort to pay attention as if everything was new, which enables me to see the holes that are present in my business. And when I find that “I already know that…” I ask myself, “Am I doing that?”
From this event, it was evident to me that yes, I have all the pieces working that were covered at the event; now it’s time to up-the-ante on them all.
Where can you up-the-ante on one thing that’s already working well in your business?
I’d love your thoughts on any of the above – feel free to leave them below…
What’s a Niffler, you ask?
Well, if you’ve read Happy Potter and the Goblet of Fire, you might remember that a Niffler is a critter that hunts treasure. Once it finds one treasure, it moves on quickly in search of the next prize.
Do you do the same thing in your business? Meaning, are you a constant gatherer of the things that you think will move your business ahead, but not so much the implementer of them? Do you get distracted by anything and everything that’s new in your industry? Do you come up with one great idea after another, but you never fully commit to completing one of them?
Yes? I hate to break it to you, but there’s probably a bit of Niffler in you! You could also call it distractiblity-disorder or failure-to-follow-through or fear-of-success/failure, or focus-challenged… but personally, I like having a bit of Niffler in me. It means I’m still passionate about what I’m doing, I’m still excited about learning new things, and I’m still interested in what’s happening in my industry, which lends to my ultimate success.
But what can happen is that all those ideas and thoughts and half-completed projects don’t move my business forward. For example, when I started my own business over 10 years ago, there was about half the business-building technology and tools available that there are now. And it’s so easy to want to jump on the cutting-edge bandwagon. But at some point, if I didn’t focus on actually completing things, I’d still be spinning my wheels instead of driving in the fast lane.
So, how do you tame the Niffler in you?
The strategy that has worked the best for me (not 100% of the time, but close enough) has been to keep an Idea Journal. Whenever I have a new idea or thought about something I want to do related to my business, I just jot it down in my Idea Journal. Then I go back to working on my current project that I am commit to completing. I know my ideas are saved there for me so I won’t forget them, and eventually I do go back and refer to what I’ve written and choose some to work on.
What this also does, besides helping me to maintain my focus, is it stops me from wasting time on ideas that ultimately don’t fit into my business. Many ideas end up almost self-selecting themselves out by virtue of time. So by keeping my focus on the ultimate treasure, I don’t get side-tracked by fool’s gold… 🙂
If you think you have a little Niffler in you, try this idea and enjoy a dramatic increase in your own productivity!
At my annual Online Business Breakthrough Workshop, we’ll focus specifically on creating your detailed plan that will show you exactly what to focus on during each step of your business building so you stay on track to move much more easily from where you are to where you want to be.
You can get your ticket right now for the lowest price available here.
I love to know how this resonates with you – share your thoughts with me below…
Did you know there’s a super-simple way to leverage your gifts, talent and know-how into lucrative, highly leveraged income streams?
It’s your Signature System, and it’s your step-by-step formula for multiple streams of revenue success.
So, what exactly is a Signature System? It’s the work you’re already doing with clients, packaged into a highly marketable, step-by-step system they’ll want to buy.
If you’re thinking you can’t create a system because every client is different, think again. Every service can be transformed into a simple, repeatable system clients will happily say yes to – yes, even yours!
I figured this out early on in my business and this one signature system has help me create every other offering I’ve made and turned into over a million dollars to date.
Specifically, here are the top 10 reasons why having a Signature System is a must to add to your business model, transition out of 1-on-1 work fast or to even completely replace it.
1. Your clients LOVE systems.
They’re so overloaded, they can’t even stop to think. Your system tells them “I’ve done the work so you don’t have to.”
2. Your clients can practically predict their success.
When they see the results others have achieved, clients feel very reassured… and start to picture the results for themselves.
3. Your Signature System sets you apart.
It’s as unique as your signature, after all – nobody else has it!
4. Instant credibility.
Without a system, your services can appear all over the place. A system instantly elevates you to expert status.
5. Quicker, easier sales.
Your clients “get” what you offer much quicker and are ready to buy much sooner.
6. Your clients get better results…
…when they follow given steps in a given order, instead of blundering around trying to find their way.
7. Your clients get results faster…
… because they’re not wasting time on needless “stuff.”
8. Your clients come back again and again…
…because they’ve had such success with you the first time!
9. You’ll help more people…
…because your Signature System (or key elements of it) can be “bottled and sold” at different investment and commitment points.
10. And best of all, you’ll see just how easy it is to create 3, 4 or even more lucrative income streams that will deliver a steady and predictable flow of cash into your business. And you know what that means? Peace of mind. Priceless.
At my annual Online Business Breakthrough Workshop, we focus a whole session on creating your signature system. This is one of the most popular sessions because every attendee walks out of OBBW with their own signature system in hand, most of them completely surprised at how simple it was!
If this was the only solid piece of content you got from OBBW, it would still be worth 100xs your small investment.
You can get on our early bird reservation list here to get the lowest ticket price available.
I love to know how this resonates with you – are your thoughts with me below…
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