SSK #11: My Top 6 Lessons from Being an 86% Profit Margin Solo Entrepreneur.
Read time: 4 minutes.
They're not what you think. They're not some magic formulas or grey-hat growth marketing hacks. Here's what helped me get where I am (running an 86% solo-consulting business :
- Consistency is Key: "Less talking, more doing" is my mantra.
I've worked with over 800 online businesses, and I have clients who talk and clients who do. Guess which ones are seeing the results?
You need to stay consistent to see results. All "overnight" successes are not done overnight. They are a result of showing up, every single day.
I stay consistent.
I keep putting the work in.
I don't find excuses.
I post on LinkedIn - daily.
I comment on LinkedIn - daily.
I message my new connections.
I respond to every comment.
I write my newsletter.
Rinse and repeat.
Is it mundane? Yes.
Is it boring? Sometimes.
Is it bringing results? Always.
- Persistency: Building a business is hard. Whoever is selling you a "magic formula" or says "you only need to do this one thing" is lying or knows nothing about building a business (or both).
You need to keep pushing through the obstacles that will inevitably show on the horizon.
If you have ever been to the gym, you wouldn't expect to build the perfect body after one workout. You wouldn't complain about how heavy the weights are.
The same goes for business.
It will be hard, it will hurt, but it is the only way to reach your goal. Push through.
One of the ways to help with that is to be part of a community of like-minded people, where you can exchange insights, get support, and feel the accountability. If you are looking for one, we have something for you - the Online Business Growth Community - join now!
- Get Your Environment Ready: A seed cannot grow in stone.
Make sure you surround yourself with people, items, and experiences that will elevate your mindset and help you achieve your goals.
If you keep being subjected to negative or critical comments about your entrepreneurial path, you will not reach your full potential.
Build an environment that supports your growth. Block the rest.
- You Are an Expert: I waited WAY too long to offer my help and expertise for sale. I was waiting to become an expert. What I didn't realize was that I was already an expert for a lot of people.
It's a bit of a curse when you wait too long with sharing what you know. When the gap between where you are and where your audience is is too big, you will lose their attention. You will do and say things that are above their heads and comprehension. You're too far.
You already know things that your audience doesn't. As long as you're a few steps ahead of them, you can teach, coach, and consult on things they are struggling with.
- Put the Oxygen Mask On - The Airplane Oxygen Mask Hack: When you get on the plane, they tell you that in case of an emergency, the oxygen mask will drop, and that you should put it on first, before helping others.
The same goes for business.
Before you help your clients and your audience, you need to make sure that your mindset is top-notch, and your business is thriving.
You cannot lead others and help them if you are the one who needs help.
- Get Paid ASAP: I was "too good" and "too soft" for too long. I wanted to build my reputation, credibility, and personal brand by helping others.
And while there is nothing wrong with that as a rule, I went too far. I wasn't creating offers; I wasn't selling my services. I wasn't asking for money in exchange for my expertise. I was waiting for the "expert label" (see point 4 above) to start charging. Massive mistake.
If you have expertise, you should charge for sharing it. (Here's a post about an effective pricing strategy)
I still employ a free consultation strategy, free community, and free content in my marketing, but I have offers and get paid for everything I do sooner than later.
Everyone is looking for a hack to build and grow their business. But the secret lies in the above 6 lessons.
p.s are we connected on LinkedIn or Twitter?
...and whenever you're ready, here are a few ways I can help you. If you're still trying to figure things out, I'd recommend starting with an affordable course:
1. The World Domination Strategy Game: a comprehensive tool for online entrepreneurs designed to simplify the process of creating a business strategy. A distillation of the best coaching exercises derived from working with over 800 online entrepreneurs. It provides clear, step-by-step instructions across 14 modules, supplemented with 20+ videos, exercises, files, and templates. The game can be used individually or with a team. The users are given access to additional resources like 40 pages of instructions, assignments, techniques, motivation.
2. The Marketing Agency Scaling Roadmap:Introducing: the 9 CRUCIAL categories and 27 power activities you need to focus on at each stage of growth: $5k-$25k/mo -> $25k-$50k/mo -> $50k-$100k+/mo. 5 Modules. 4 hours of ACTIONABLE content. Milk, honey, butterflies and rainbows and so much more...
3. LinkedIn Prospecting: In this training, I'm giving you the nuts and bolts of what it takes to make LinkedIn prospecting a success. I'm peeling back the curtain to show you exactly how I utilize it, while also sharing my personal insights and experiences from leveraging LinkedIn to secure leads and clients.
Build and scale your online business.
Join hundreds of successful online business owners. Every week you'll get 1 actionable tip to build and scale your online business. No weird hacks or gimmicks. I'm sharing actionable and practical knowledge and tips you can implement today to see the results.