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The NUMBER ONE problem online business owners want solved?
“How do I make consistent income WITHOUT burning out? 🤔
How do I know?
I surveyed 750 people recently, and after running the results through Chat GPT; it TOLD me that this was the top problem by a long shot.
So! In today’s podcast episode, I am sharing with 7 ways to build a business that gives you consistent, steady income without sacrificing the values you started it for in the first place (like more time, freedom and happiness).
Listen On: Apple Podcasts | Spotify
#1 Build the Right Model: Starting with the wrong model is a fatal flaw from the outset. Case in point – a student inside of our Dream and Design program posted that she was unsure what to do if she couldn’t get enough clients with her 1:1 coaching model to fulfil her revenue goal.
My answer? You need a different model. 1:1 is incredible, and actually I think has a place even in a leveraged expertise-based business model. But often, it can eventually cap you out with a time and income ceiling. Meaning: Your time will cap out, AND you also won’t have achieved your revenue goal. At some point, you are going to need a way to divorce your value from your time with leverage – either through IP, team or something else. My preference? IP; which means you don’t need a big team to scale.
#2: Run Your Business By the Numbers: What are the things that are important to you? For me – and in the Lifestyle Business Sweet Spot model that we follow in Lifestyle Business School – that is profit, time and lifestyle. So, it’s important to have clear goals around each, and then to track and measure your progress against those goals every single month.
#3: Focus on What You Can Change: JUST tracking those numbers isn’t enough, because they are “lag” metrics – meaning, they tell a story about something that happened in the past. You also need to have a system that tracks LEAD metrics, being the numbers that will influence your success in the future. For example, tracking “weight lost” is a lag metrics, but your diet and exercise? Lead metrics, meaning that they will eventually influence your lag metrics.
#4: Stand Out: If you look and feel the same as everyone else, you are a commodity which means you will always compete on price. The best way to be in-demand and command premium prices for what you do? Is to place yourself into a category of one.
#5: Follow Someone Who is Where You Want to Be: I have always been good at looking at people a couple of steps ahead of me and asking – would I want to be where they are? For example, when I was a solicitor I would look at the Partners in the firm, who were usually stressed out, working late hours and looking tired beyond their years.. and deciding I didn’t want THAT was my reason for shifting gears. It’s the same in business – who has the same endgame as you? How can you learn from them? This is the only “shortcut” in business, truly.
#6: Install Rhythms: The best way to build to consistent income isn’t by hoping and praying for one big launch, it’s installing rhythms into your business for the RIGHT actions you will be taking each day, week, month and quarter to move toward your endgame. Consistent, boring rhythms FTW.
#7 Focus on the Right Things, In the Right Order: There is no use posting on social media if you don’t have a sales system that converts well to scoop up those leads and convert them into sales. And yet, that is what most of us do. Start with the END first, and work forwards.
Side note? These are ALL focuses inside of Lifestyle Business School, which is the complete operating system for building – or re-building – an expertise-based business to the Lifestyle Business Sweet Spot.
Click here for the link to enrol and join us for $149/m.
