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TRUTHBOMB: You DON’T have to scale your business to the moon (and in fact, the pursuit of doing so might be costing you dearly).
Here’s how to set yourself up for LIFE – both in terms of revenue, wealth and your TIME (aka the ultimate freedom) – and enjoy the ride along the way.
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1️⃣ Stop listening to people with a completely different endgame to you
“Scaling to the moon” and “reinvesting everything back into your business” is right for a business that wants to (and is able to) exit.
Most course and coaching businesses are NOT that.
2️⃣ Swap “scale” for “simplicity”
Focus on one to two core offers, and work hard at the start to refine both the delivery AND the marketing.
This is the simplest and most resourceful (both in time and money) way to get to $1M (or whatever your goal is).
3️⃣ Go deep, not wide
You don’t need to be Internet famous or chasing a million leads or followers to get “rich” (in time and money).
You can charge more premium prices, will resonate more deeply and will attract MORE people, by focusing on being the expert in one thing.
4️⃣ Create very specific organic content
Create specific organic content that focuses on your small focus.
You will cultivate a small, HIGHLY profitable following and won’t need to spend biiig $$ on ads because you won’t need scale.
5️⃣ Stay small and serve deeply
After you are set up on your front end offer, move 70% of your focus to delivery instead of sales.
Make the client experience incredible and create offers to serve your existing people better and for longer.
Your profit margins will increase again because don’t need front end leads.
You can have a VERY profitable business with 100 people in your ecosystem and 30-60% of your sales coming from serving your existing people for longer (aka back end marketing).
6️⃣ Grow slowly
Don’t try to double every year.
It’s stressful, unreasonable and will cause you grief.
Grow slowly and sustainably, and enjoy the ride.
7️⃣ Watch your time
Ensure you have a business model that allows for leverage, and then ensure that you assess your delivery in terms of the number of hours it will take you to deliver.
Contract work out if it makes sense, and optimise for as few contact hours as possible without it impacting client experience.
8️⃣ Invest cashflow
With your increased profit margins, start focusing heavily on funnelling money outside of your business into wealth creation vehicles.
Do this from the start, even with a small amount.
You need to learn the skill of investing.
This will ultimately be the thing that gives you “passive” income – NOT the business.
9️⃣ Don’t sacrifice your health
You will think this is the “shortcut” in the early days, but it will only bite you in the butt later.
You are NOT a superhero or better than anyone else.
And if you are burning the candle at all ends, you will burn out.
We’re shortly opening doors for our BRAND NEW Legacy program for experienced course creators. We teach you how to build a SIMPLE, PROFITABLE online education business with high profit margins by working less, NOT more.
Interested? Join the waitlist NOW here to get access to our Foundation Pricing when it drops.
Links and Resources:
PS Whenever you’re ready, here’s a few ways we can help you!
1. Want to build out your digital course business to the “Lifestyle Business Sweet Spot”? Legacy is for experienced course creators who aspire to the Lifestyle Business Sweet Spot (Minimum 250k+/year profit , working 5-hour days with lean, remote team). Join the waitlist NOW and get an invitation to our FREE training in 2023.
2. Are you ready to create, launch and scale your flagship digital course in 2023? Head to www.thecoursecartel.com/launchpad to apply for our 12 month, high touch group coaching program.
3. Want to launch your Wildly Successful Podcast in just 6 weeks? Check out our FREE masterclass where we share with you our complete five-step strategy!
4. Want to get paid to generate more leads into your business than you can poke a stick at? You need our $57 Paid to Grow Workshop and Bundle series (we are consistently told that this is the best program our students have ever bought and it’s a steal!)
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