I’m not going to tell you that I scaled to six figures in six months because that’s just not what happened. I don’t feel like that’s realistic. It took me being in business almost a whole year to hit that five figure, $10K/ month and then being consistent after that. Total transparency here. And obviously I don’t pay myself $10K/month…YET. I think there’s a lot of misconceptions out there for new business owners and other people in the online coaching space. Most people don’t talk about expenses, and how much it costs to run a business but we’ll save expenses for a future blog post.
I wanted to take the time to share with you some tips. Things that helped me scale my service based business to multiple five figure months.
The first thing that helped me scale and grow my business was diversifying my income. My very first year in business, I launched the Conversion Class. I didn’t really have a strategic plan for launching or content marketing. I was kind of just trying to figure everything out, and throwing stuff at the wall.
Once I got a strategic plan together, I launched a new course, the Content Master Academy and from there, I started to offer payment plans. I felt like that really helped stack my monthly recurring revenue (MRR). I also launched another course, my Funnel Babes Blueprint program. With the funnel babes course, not only did I teach funnel building but I also created ‘done for you’ templates for funnel pages. These templates are on the Kartra marketplace and sell by themselves. I don’t promote them regularly but may mention them briefly on stories. I signed up as an affiliate for Kartra, the software that I use. It brings in about $200-300, just passively each month.
I highly recommend diversifying your income with different types of passive products, and/or services, that you can offer your client as a down sell. What do I mean by that? Well, you have your high ticket offerings, right? Like the ‘done for you’ stuff but if it’s not the best fit or if it’s not in their budget at that moment, you can always (you should always), offer some sort of down sell offer. I suggest mapping out your product suite so you know exactly what you could potentially offer your potential clients.
Having that passive income with the templates, courses and the affiliate sales, has really helped scale and grow my business.
Next tip, building a funnel. So all of this passive income stuff, the different courses that I have, everything is automated on the backend. I don’t want to be manually sending out payment links, or manually sending out emails, or manually sending out the links to the funnel. Everything is linked, and works in a systematic way, inside of Kartra. There’s automated email sequences that are nurturing my audience when they enter my funnel and the customer acquisition process is automated through Kartra. Having a funnel, essentially just automates the whole process for me on the backend. I highly recommend building a funnel. If you are looking to start using funnels in your business, check out my Funnel Babes Blueprint! This self-paced course will give you a solid funnel foundation!
On to the next tip, outsourcing. In the very beginning I had a VA. I still have a VA. I don’t think she works more than maybe 20 hours a month. Then this year I brought on a junior ads manager. I have so many one-on-one clients now, each month, my workload was piling up to the point I felt like I back working at a nine-to-five marketing agency. Um no thanks!
The last person that I outsourced to was an OBM, an online business manager. I now have her doing a lot of like the backend stuff that I was doing for my own business. It’s was time to free up my schedule and really focus more so on my one-on-one clients and be the overall strategic, marketing brain for my clients and Litchfield Media. It’s hard to focus on those super important pieces to your business if you’re overwhelmed with the little backend tasks.
Outsourcing, is literally the only way to scale. You can’t do everything yourself. That’s a huge lesson I’ve learned in the past year of being a business owner.
The last tip I wanted to talk about is investing in a mentor. I think it’s really important to invest in people that have already done it. They are where you want to be. They just know things about profit margins, and how to handle certain clients. It’s just so helpful to bounce ideas off of them, or ask questions like, “Hey, what would you do in this situation?” Or, “I’m literally going through X, Y, and Z. What would you suggest?” Or just helping plan your launches or maybe in the development of a new offer, product, or service. Investing in a mentor has helped me scale this business and my confidence as an entrepreneur.
I really hope these tips have inspired you! You CAN hit the multiple five figure months, it will take time to get to where you want to be but trust that it will happen. I’m here to support you!
Melissa from Litchfield Media writes about all the tips and tricks to run successful and profitable ads for your online business.