Things Every Six-Figure Business Needs
I’m really excited about today’s post because I have something kind of special in store for you.
I want to go through all the things that every 6-figure business needs.
Now, I know that a lot of entrepreneurs have the goal to build a 6-figure business (and that is why I’ve entitled this episode as such). I myself, in the beginning, really wanted to grow my business to that size and I was lucky enough to do so in my first year of coaching.
But, there is so much more to it than that, and that is what we are going to cover today. Just know that these things will apply to your business whether you are making 4-figures or 6.
If you did like this episode be sure to screenshot and share on Instagram and of course tag me @erinmayhenry @gamechangers.
BEFORE I GET INTO THE TIPS…
Please know that building a 6-figure business is not the most important thing.
After being in business for 3 years, after making multiple 6-figures, I can tell you that hitting that mark, while exciting, it’s not an everlasting feeling. Yes, there is a moment of excitement but then life and business go on as per usual.
The reason that I mention this is because I don’t want “reaching 6-figures” to be your #1 goal in your business. It is a very slippery slope to disappointment.
I always thought that hitting 100,000 YouTubers and 100,000$ in my business, two goals that I idolized for a very long time, would mean my life would be changed forever. So, I strived towards them like my happiness depended on achieving them. Then, when I hit those goals, I realized that absolutely nothing changed and I was incredibly disappointed.
It’s the journey to those goals that really matters.
Enjoy getting that first client.
Enjoy making your first 5k month.
Enjoy spending the money you’ve made.
Enjoy all the little things you do along the way and then celebrate when you do so happen to reach the financial goals that you set for yourself.
And, base your goals and aspirations off of your own dreams. Calculate what that dream life will cost you and then compare your successes to that finish line, not the success of others.
Maybe your dream life cost WAY less than 6-figures, so why would you strive towards that goal?
Find the things that are going to drive you in a healthy and aspirational way and then enjoy the journey to reaching them. Enjoy the little wins you achieve as you work towards creating that vision and life.
Now that that is said, this is a post about money. It is about all the things that your business needs to be a profitable, sustainable, and successful online business.
So that you can be sure that you have in place all of the things you need to achieve your goals, whether it’s 6-figures or not.
1) A VISION
The reason I’ve put this first is because it needs to come first.
For so many people, their vision is “I want to make X amount of dollars”. Well, I am here to tell you that that is just not a vision.
The money that you make in your business is a tool, just like the content your create is a tool. They are both tools that you use to get yourself a specific outcome.
If you are going to create a successful business, you need to understand that successful businesses do not happen on accident, they happen very much on purpose.
The person running them has a vision. They know exactly where they are going and they are able to accumulate that success along the way.
So, if you don’t have a vision for where your business is going, you need to sit down and think about what it is you want your business to look like in 3-5 years from now. Hell, where do you want to be 1 year from now?
No one’s timeline or vision is going to be the same. We are all in different places in our lives. So, build your vision around a future that you can imagine and go from that. What impact do you want to have? What kind of lifestyle do you want to live?
But, be careful not to get caught up in this. Remember that your vision can (and will) change and evolve. But giving yourself direction is going to serve as an incredible driving force for you.
Just be working towards something more than an income.
2) AN AUDIENCE or COMMUNITY
DISCLAIMER: The reason that I am now able to make the money that I do is because I have an audience.
If you don’t have people that know who you are, who trust you, who like you…it’s going to be really difficult to sell. How can you expect people to buy from you if they don’t know you exist?
Now, you don’t need a big audience, but you do a community that are suffering that you are trying to solve so that you can sell them the solution.
This is where your journey needs to start. And, this is exactly why I created my program Vision + Tribe. To help you find your vision and then build your tribe. To find the people that you want to support and lead through your zone of genius.
You will not be able to achieve online success without this audience, so start connecting with them and become the leader they need you to be.
3) A RECOGNIZABLE BRAND
What I mean by a recognizable brand is the aesthetics of your brand, your colours, your logo, your name.
And the reason I am so adamant about it is because there is just so much noise online, today. There has always been competition, but now there are so many other people on top of that creating content. So, not only are you competing with the other businesses in your industry but also with all the other people that may be talking about the things that your brand is built off of.
In order for you to stand out, you have to have a recognizable and professional brand. A lot of people used to be able to throw things together and thrived off of there presence online alone, but increasingly I do think it’s become important that you put that little bit of extra effort into your brand experience aesthetically. It is going to separate you from all the other people that make up the noise of today.
Just try and add a layer of professionalism and effort to your brand aesthetic. It is only going to help you build your know, like, and trust factor. And it doesn’t have to be expensive, Canva and Creative Market are absolutely incredible resources.
4) A VALIDATED PRODUCT
Not just any product. A validated product.
You cannot sell things that don’t work. You have to know that the thing that you’re selling works.
Just because online businesses, specifically service-based and info-product based, are so unregulated does not mean that you should sell something that you aren’t sure works.
, if you have a product you want to sell, whether it be a course, a service, a consultation, a digital product, anything you are selling online, you have to make sure that the advice that you’re giving works!
Now, if you don’t feel like you have enough experience do not fall into the trap of believing that you cannot start a business because of this advice. Everybody has to start somewhere. Just get your experience in a non-expectational scenario. Beta-testers, work with people for free, try it with your friends, whatever it is, do what you have to do to make sure that whatever you are selling actually works.
5) A REPLICABLE SALES METHOD
You cannot expect to just wing your way to success. Hope and guessing are not strategies.
There is always room for magic, there is always room for clients to come out of nowhere, but you need to know how it is you are able to sell things.
For instance, I have a launch method. When I launch a new program I have Steps 1-4 laid out that I assume, in most cases, will produce a certain result…because it has many times before.
Some may do better than others, but that is, of course, to be expected.
You need a replicable sales method so that you can, you guessed it, replicate your success!
So analyze where your clients come where(if you have some), what pushed them to buy from you, what steps you took that worked, what didn’t and then form a framework that you can use again and again.
are you ready to start creating your dream life?
IN THIS FREE THREE PART VIDEO SERIES, I AM GIVING YOU ALL OF THE SIMPLE STEPS YOU NEED TO BUILD A SUCCESSFUL ONLINE BUSINESS