In this episode, I share ten valuable lessons that helped me scale my business from zero to multiple 7 figures. I talk about relevant tools and experiences that helped me build my online business and increased my efficiency and following.It’s your willingness to invest that’s going to determine how successful you’ll become as an entrepreneur. - Sigrun
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In This Episode of The Sigrun Show:
- The common mistake aspiring entrepreneurs make
- How helping others without actively selling benefits your business
- How to thrive at networking events
- Creating valuable free content
- What “investing forward” really means
- Why the first thing you need to learn is how to sell
- How to start building your dream team
- Slowing down to speed up your success
10 Lessons from a Multiple Million Dollar Business
I’ve identified 10 lessons that have helped me grow my online business from zero to multiple 7 figures. Here, I’m sharing them with you so you can save time and money and get there faster.
Lesson 1: Stop thinking and start doing
In 2012 I lost my job and was unemployed for the second time. The unemployment office told me it would be hard finding a job with my varied background, four master degrees and experience as a CEO. I was overqualified. I thought about starting my own business and looked for the perfect business idea. However, I was running around in circles, switching my WordPress theme more often than not. I was active on social media and surrounded myself with aspiring online entrepreneurs – but I didn’t put an offer out there. I wasted 18 months overthinking everything. The thing is: You just need to start. No one will tell you you found the perfect business idea – you need to go out there and test it, and if you don’t like it you can change it. But don’t waste time overthinking.
Lesson 2: Helping others
If you’re not fully booked yet or your business idea hasn’t enough clarity, use your time to help others. All the time I spent in Facebook groups helping others built my brand and reputation without me knowing it. Helping people without expecting anything in return is the foundation of any business. It leads to clients and partnerships and friends, and endless opportunities. Maybe you won’t feel it right away, but what you gave will come back to you at some point in the future.
Lesson 3: Networking
Attend offline events where you can network and connect with your peers. After networking for years, I launched my podcast and reached out to all the people I wanted to have on my show, and everyone said yes. You can’t know how connections will benefit you in the future – just that generally, they do.
Lesson 4: Create free content
You’re not going to be found online if you’re not creating free content. I started off building my business with webinars, and now I release a weekly podcast episode. Find your channel and create free content that is valuable, actionable and shareable. And most of all: Stay consistent.
Lesson 5: Invest forward
It’s your willingness to invest that is going to determine how successful you become as an entrepreneur. Whether it’s money or time, be willing to invest forward to build your business. It can be scary in the beginning when you feel you can’t afford to invest, but it’s the fastest way to build your business. Do your due diligence and make wise investments according to the stage you’re at. In the beginning stages, it makes sense to invest in a coaching program. When you’re further ahead, a group program with accountability might be for you, or a mastermind. Investment also means investing in tools, a team, or paid ads.
Lesson 6: Selling is serving
Every entrepreneur needs to know how to sell. Before you create an online course or invest into ads, learn how to sell. Selling doesn’t have to be sleazy. It’s about building a relationship with the person who needs your service. You’re not in the convincing business – you only sell to people who are interested in your service, but you need to know how you can serve them by selling to them.
Lesson 7: Scale for more success
If you’re not growing, you’re dying. If you’re earning the same year after year, you’re in decline. Look at how you can scale your business: Can you increase your prices, take on more clients, go from 1-1 to groups, or create courses? Even if it’s not your goal to make millions, scaling is essential if you want your online business to survive.
Lesson 8: Focus and refocus
Focus on helping your ideal client and be willing to pivot when you realise your focus is no longer where it has been before. As entrepreneurs, we’re typically running after every shiny object – we love to try new things. But once you concentrate on fewer products and narrow down your services, your business will be more successful.
Lesson 9: Team
Having a team is the key to growing your business and serving your clients at the highest level. Learn how to delegate and leave control in the hands of others. You can go fast alone – but if you want to go far, you need to go together.
Lesson 10: Slow down to speed up
This is a lesson I’m currently going through. To reach my goal of an 8 figure business, I’ve slowed down and analysed what I need to do to get there. It led me to reduce the number of programs I offer and introduce overall changes. In order for your business to take off, you sometimes need these slower phases to re-orientate yourself.
Do you want to become a better entrepreneur, thrive with your online business and have a bigger impact? You can download my free guide Six Key Shifts You Should Make for Fierce Success here.
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