Are you wanting to build a thriving, 6-figure business, but feeling stuck and unsure how to get from where you are to where you most desire to be? The gap between what your reality is right now and the dream reality is what I’m here to help you with.
#1 Rewire your mind because there really are no limits.
This is the most important step to conquer because the biggest hurdle you will ever face is yourself, and everything you do to sabotage your own progress. You can’t let your fears, self-doubt and all those negative thoughts that creep into your mind, prevent you from seeing what is really possible. When you’re starting your business, having a clear vision of what is possible really is key. It is within your reach to grow a successful business. There’s no special elite club of people that ‘make’ it. It’s normal, everyday people like you and I, that decided to trust themselves and go after what they wanted. Anyone that has determination and tenacity can reach any level that they truly desire, and that includes you.
#2 Learn how to market & sell
Making money without knowing how to sell is like trying to be a professional photographer without a camera. It’s not going to happen. Marketing and selling your business is like cameras and lighting to photography, and as such, fundamental to generating a solid income. You might be pitching an idea for a workshop, or maybe trying to close the deal with a new client interested in your services. Knowing how to sell is the difference between struggling to make ends meet and running a successful 6-figure business. How well you ‘close’ is directly correlated with how much money you make. So I’m sure at this point you’re thinking “that’s all well and good to know that in theory, but how do I actually convince people to buy?” A common theme amongst the most successful companies is that they have very solid branding. And as I teach to my entrepreneurial students, you have to have a very solid idea of who you are, who your clients are, and what you have that they need.
Building your influence leads to easier sales. Let’s touch back on point #1, where we discussed your mindset. How you view sales will have a major effect on whether you can easily book clients or not, and we need to rewire how you look at a sales pitch. It’s not about chasing money. It’s not about rubbing your hands together and saying “gotcha” when you get a sale. Money is not your motivator. You’re in this because you have a passion, and that is what you need to convey to the people you talk with. Prospects contact you because they have a problem. It’s your responsibility to show them all the ways in which you will provide a valuable solution. It’s always about value and education. When you educate your prospect on what value you’re going to bring to them and you stop chasing money, the sales will come, and your income will naturally increase. Investing in branding, marketing, and sales classes will help you develop your skills to be more successful in this area.
#3 You Must Negotiate (or hire someone to do it for you)
Want to know a surefire way of making money? Asking for it. I can’t tell you how many sets I worked on in the early years where I was the only one getting paid. I’d hear the crew complaining about how they were expected to be there for free. I still hear it occasionally on set now, with someone complaining about not being paid. The harsh truth is, you’re not getting paid your worth, because you’re not negotiating to get paid your worth.
The majority of entrepreneurs will respond in one of two ways when asked to work for free or for a lesser rate than you feel you deserve (of course we’re talking about commercial work here). #1 You give in and do the work for free, half of you resenting the client and half of you desperately hoping for future work to come from this, or #2 Putting the person in their place and feeling very proud for not accepting less than you are worth. Well, neither of these options are helpful in generating more income for your business. So… I suggest option #3. Negotiate. Develop your negotiation skills and explain what you bring to the table, why you’re worth what you charge, and what benefit it is for the client to have you there instead of whomever they can find willing to do it for free/cheap. Life is a negotiation. Nothing should ever be accepted at face value. Start by asking for pay. Then challenge yourself and ask for more pay as your confidence builds. As you progress to bigger clients, you may like to consider an agent that will do the negotiating for you.
#4 Your Time Is Valuable - Stop Wasting It
This is a very big hurdle for so many entrepreneurs. They don’t know how to value their time. Be really honest with yourself. Most of us have done this or are still doing this. Taking on so much free work, not having any kind of boundaries when dealing with difficult clients, and as we discussed in #3, low-balling yourself when bidding for a job. Be very purposeful in your decisions on giving up your time. Think about the jobs you’re accepting, as well as the work you’re doing within your own business. When you calculate exactly what your time is worth, does it make sense to do all the remedial tasks that could be outsourced, freeing up your time to focus on more important work that will actually grow your business? Those with a 6-figure outlook know their time is valuable and will ask for money.
#5 Create multiple streams of income
The fifth piece of the puzzle to get you from where you are right now, to a successful 6-figure business is in creating multiple streams of income. Get creative in the services you offer. Think about all the different packages or products you could offer your clients. Maybe you are a makeup artist and can offer applications as well as lessons, and stocking makeup products to sell to your clients. Everyone will have a different idea of all the different ways he or she can generate income, and that’s wonderful. As long as you’re offering multiple types of products and/or services, you will reach your goals much faster.
So are you ready for 6 figures?
When you have learned the art of selling, marketing and creating multiple streams of income, you will generate more revenue. It takes time and effort, but it is worth it, to live your life on your own terms, building your own dreams for your version of the perfect life.
Much Love & Success,