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 this year’ 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 later.
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 15 or so 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.
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. Pick a price…
Pricing is one of the places that almost everyone gets stuck. Don’t stay stuck especially if it’s something new that you’re offering and you’re filling in the holes in your business model. Just pick a price and get your offer out there.
Getting stuff out there will move you forward, create more income, and leverage your time.
You can say, “This is early bird pricing. This is beta pricing. This is an introductory rate. Be one of our beta testers.” Know that you’re not wedded to that price forever and ever.
That is the beautiful thing about what we do. We can change our pricing all the time. It’s simple. You can just type a new number.
2. Always be hiring…
As your business grows you always want to hire. Pay attention to who shows up, who comes across your desk, who is in your inbox and who you meet at conferences and events who may be a good addition to your team.
You might think, “I’d love to have her do my social media. I’d love to have her be part of my administrative team. I’d really love to have this person do my website.”
Be aware of the people that you’re feeling that resonance with. Maybe there is a small project you can hook them with to get them onto your team early.
That way when you’re ready to hire someone, you have a ready file of possibilities to go to.
3. Make mine WordPress…
If you haven’t made the switch from a traditional HTML to WordPress, now’s the time.
The benefits of using WordPress are seemingly endless. Search engines love them, you don’t need to know HTML to create a site or make changes to an existing site, and there are tons of free and low-cost templates to choose from that will give you business a professional polish.
Because it’s so easy to use WordPress, this is going to save you (or your designer) tons of time, which is going to save you tons of money.
4. Take a stand and make it matter
To increase your exposure and your reach into your market, decide what it is that you are willing to take a stand for and make that matter to your market. If you’re ready to stop seeming like everyone else in your market who does what you do, then figure out what it is that you believe at core level and are willing to make a stand for and in for your market.
Then use that stand as the basis for your manifesto, weave it into your marketing copy, speak about it with passion, and watch as more of your ideal audience gathers to you.
5. Publish your content on Kindle
If you have an ebook or a print book, consider publish those on Amazon as Kindle versions. It’s a great way to get your content in front of all that traffic that already exists on Amazon that can lead to more leads and more sales for you. Just be sure to put an invitation in your book that leads people back to your website.
I’d love to know which one of these leveraging tips resonates the most with you – share with me below!
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…
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.
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…
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