Why do you think that so many entrepreneurs are having difficulty reaching their 8- or 9-figure milestone without burnout and overwhelm? Many entrepreneurs are usually stuck with the wrong marketing strategies and business models despite having access to nearly all information in the world via the internet.
There’s so much information out there. We can’t sift through all of it and see what works. There are no wrong strategies when it comes to building a business. There’s only the wrong strategy for a specific industry at the wrong stage in the business.
Your company growth doesn’t have to be hard, nor do you have to struggle with generating consistent leads and close 6-figure deals. There’s no such thing as a strategy that works for all industries in business.
Nor is there a way to quickly reach your goal. If you’re looking for consistent 100K+ months, but you’re planning to relax the whole time, you won’t get there.
There is no wrong strategy if you keep working on it, but there are more efficient strategies than others. That’s what we’ll be talking about today, and I’m giving you four key reasons you should start changing if you want to expand to 9-figures instead of 8 in the next 2-3 years.
1) There is no easy way up.
The first reason is probably that you automatically think that when you buy a book on marketing or attend a masterclass on getting financial freedom, you get there in two or three months.
There’s so much of that kind of marketing that entrepreneurs create the illusion in their mind that if you spend more, you start earning more. That’s usually the reason why many people start spending all their profits for growth or social media or spontaneously hire a team that they can’t afford yet.
This leads to losing profits and you catching up to stay on top of the daily responsibilities. Not to mention the growth problems that occur from hiring not so capable employees, so you end up training them and cleaning up after them instead of being surrounded by team members who are smarter than you.
2) You’re doing the wrong thing at the wrong time in your business.
Are you implementing the things needed for your business to work and consistently bring in leads and close deals at the 6-figure rate?
Do you take the necessary steps required for the phase you are in or are you implementing a strategy that’s too advanced for where you are at in your company’s growth because you suffer from the shiny object syndrome?
On the surface, we might think that it doesn’t affect the company at all when our revenue stays the same over a period of a long time. When we are working in our business and baby-sitting our employees instead of being the CEO of the company, we waste our most precious commodity – our time.
It’s easy to give someone else the responsibility of running the daily operations, but if your processes are not built on solid ground, then your employees will only be an extension of the pre-existing problems.
3) Your life serves your business instead of the other way around.
Look at your daily life and ask yourself: Is “this” what I truly want? Is this how I want my life and business?
If you are spending 4 hours every day on sales calls with prospects and only close around 30% of those prospects, you are wasting 70% of that time on people who are not worth your time and attention.
It’s a common business strategy to schedule as many strategy calls or free complimentary calls to hopefully close enough 6-figure deals to expand your business, but it’s not necessary.
It slows down your business expansion because you won’t have enough space for your creativity to flow into your daily activities. It’s your creative insights that are needed to solve the most complex challenges in your business.
If your daily workflow is maxed out with no time to breathe, meditate, take a walk and creative activation, you’ll end up working in a box instead of approaching challenges from the perspective as if they don’t even exist.
4) Your business model isn’t the right one for you.
The way your company influences you highly depends on how you set it up in the first place.
You can’t just hire some expert or guru to learn a strategy and implement it when the business model you chose in the first place is the wrong one. It won’t be the business that you envisioned, or at least it won’t be the one that’s right for you.
Creating a company isn’t just about finding the right niche, seeing what’s trending, and creating a quick business model based on that. It has to have meaning—you have to be fully invested in your vision to break the eight-figure ceiling. You need to sell yourself daily on your services, your company’s vision, mission and value and yourself to avoid burnout and demotivation and consistently improve your profit margins.
If your business model isn’t aligned with your purpose, you’d feel like quitting in a year or two. That’s what often happens when entrepreneurs are in the company all the time even for the small things because they don’t hire employees and trust them to do the job better than they could do it themselves.
Sure, hiring a team to do the smaller things might eat up some of your profits—that’s 100% true. But in the long run, what’s costing you more time, money, creativity and purpose is that you’re doing EVERYTHING yourself or at least trying to.
When you can’t focus on what you’re doing best in your business, that’s a massive blow to what you could have potentially earned if you were focusing all your efforts on doing the things that makes you the most money, spark your creative passion and contribute to your biggest vision and real purpose. That purpose could very well involve a charity project or another company entirely which you won’t discover if you’re working in your business all the time.
If you have a clear idea of what you want your company to be, you know your role as the CEO. That means you have one job to focus on, and that’s keeping the company afloat. If you’re the person who’s excellent at closing multi-million dollar deals, do that. If you’re a shark in marketing and your words, bring in client after client, focus on that.
The rest of the menial tasks like newsletters for your email list, updating the website, scheduling your social media posts, and everything else in between, that’s what you leave to your employees. This way, you can focus on what you do best and still be able to keep everything moving.
To sum it all up, there’s still one major factor that plays in the success of your company. That’s “doing the work.” The truth is, you can’t run a company on “soul” alone. You can’t break profit ceilings if you’re lazy, looking for an easy way out, or if you don’t like the business model you’re doing.
Do you want to learn the crucial steps in building an autonomous multi-million company to take a right next step in your business growth at the right time?