“You just have to work harder,” you say to yourself.
But the sales don’t come in.
So you polish your website.
Write a few blog posts.
Maybe email your list (if you have one).
You post more rants to Facebook and LinkedIn even Twitter … for good measure you throw in a few Instagram photos. “See how awesome my life is?,” the photos say. You wish you could believe them yourself.
The bills are piling up, and the mortgage too. No way you can send your kids to college right now let alone save for retirement. At least it’s still a few years down the line.
So you put your head down and hustle, wondering why others get off so easily.
Well, I’ll let you in on a little secret:
Success comes more easily when you have the right business model - and the reason you’re breaking a sweat to barely break even is that you do NOT have the right one. Yet.
Don’t get invested if you aren’t committed to finishing the race
Before we proceed let's make sure that you're in the right business to begin with. Too many of us, seduced by riches, follow the money instead of our hearts. And so we become specialists in businesses that we actually HATE and take on identities that are hard to shake.
“I got good at real estate so that’s what I do, but it’s not WHO I am. Wish I was a coach instead.”
“I’m just known as the ads guy but I’m passionate about so much more … “
How terrible is that?
I realized early it’s unwise to go into business if you don’t like the people, and as I’ve gotten older that’s only more true. So I made sure not to start businesses if I didn’t like the community I served.
If you’ve launched a business and realized early on you don’t want to be in that industry, you’re one of the lucky ones. You can just start over without regrets.
But some of us are a bit more invested. I still urge you to consider your options. Don’t just follow the money and get lost along the way, and certainly don’t scale if you don’t love what you do,
Success brings more, and different, challenges. Make sure it’s worth it.
To reach the many you must first serve a few -- and charge handsomely for it
If you know you’re in business for the right reasons, great!
You’re still going to struggle to survive where others simply thrive if you don’t wise up about your pricing -- you are charging too little in order to serve many.
But we have to turn that around right now.
You need to charge more and serve fewer clients if you don’t want to starve your business. Try this, if you are charging less than $1,000 try to 10x your rate. If you’re over $1,000 start by doubling it. (This is just a ballpark figure to get my real advice schedule a call)
See how it feels. If it scares you that’s good.
At these rates do you need 100 clients to meet your minimum? No.
At the right rate you might only need 5-10 clients a month, even to break 7-figures in revenue. Seems doable doesn’t it? Now the word hustle takes on another meaning. Yes, you have to say ‘no’ more but you will earn more and can spend time nurturing your client relationships.
“But people NEED my service and if I do what you’re suggesting they won’t be able to afford it!”, you gasp.
In fact, the opposite is true. If you charge what you’re worth, yes, you might have fewer clients but your business will thrive, and you will actually be able to give more away for FREE to those that need to hear your message. We have a word for this, it’s called “marketing.”
This is how you thrive and serve a mission greater than yourself.
The more successful you are the more charitable you can be without, I remind you, sacrificing your quality of life. Let me rephrase that.
You deserve for the services you provide to others to provide for you as well.
Raise your prices and make it happen.
Plan as if you’ll 10x your business next month and then systemize to succeed
Have you mastered 10 clients? Great, it’s time to get you to 100 … without burning out.
The secret here is to systemize your business as you scale. You don’t just wave a magic wand after you hit your desired revenue and take care of it all at once. That just sounds exhausting.
Instead aim to always keep scale in mind.
At least once a month as yourself, “if I 10x the number of clients I serve will my business continue to run smoothly? and will I love my life?” If you get a ‘no’ for either question, figure out what needs to change and fix it.
In this way we are constantly preparing to stress test our business, and checking in to see if it still aligns with our values and it’s the right investment of our limited time and energy.
Step by step, piece by piece you can systemize yourself to success.
I hope you’ve realized the ways your business model is getting in your way, forcing you to hustle yourself to exhaustion without yielding a return on your efforts.
Don’t beat yourself up. Get perspective, decide what to do differently and be patient.
You might not see the results immediately in your bank account, but you should feel them soon enough if you’ve made the right decisions. If you still need some help, be in touch :)