From 6 to 7 Figures
Breaking down the real-life principles that matter to help you join the 4% of businesses that make the leap to 7-figures…
Real Entrepreneurs | Real Principles That Matter | Real Growth
Episode 03: Simplify in order to SCALE
Episode 03: Simplify in order to SCALE
It’s tempting to create lots of offers.
The more offers, the more ways you can get paying customers.
However, most 6-figure entrepreneurs move from one offer to the next to the next hoping to strike gold!…
When the real gold comes from making at least ONE core offer GREAT!
In this episode, we take you through exactly how to avoid this trap, why, and the impact that can have on helping you get from 6 to 7 figures.
The Vision: Be the #1 Short-Term Rental Education company in the world.
The Challenge: Too many offerings. None ready to scale.
The Client: Eric Moeller, Founder of CoHost Mastery
The Result: $250k+ in revenue generated in less than 45 days (more than 4x his previous average results!)
“I realized what my strengths were and found people to fit into the team to complement my strengths and weaknesses.”
Check Out Episode 03 of ‘From 6 to 7 Figures’
“Simplify in order to SCALE”
Lesson #1 :
Take one offer to 100% and systemize.
In order to scale, you have to take ONE offer to 100% before creating the next one.
And the most efficient, predictable way to do that is to build a system around it.
“100%” means building a system that has three things:
- Key metrics (KPIs) defined with proper tracking…
- All processes in place to support that system, and…
- Someone to lead the system and own the results.
Focus on building one core offer at a time to 100%, and you’ll be on your way to success.
Action: Map out all of your current offers, and pick the ONE core offer that is the foundation of your business. For the next 60-90 days, put all other offers on hold while you focus on systemizing that core offer to 100%.
This is not as fun as creating something new, but it will mean all the difference in the world as you scale to 7 figures.
Avoid creating an “ascension ladder”.
It might seem logical to create a product/service ascension ladder of different pricing tiers.
The problem with that is that each tier appeals to a different customer avatar, which means that you’ll essentially be building multiple separate businesses.
What you need are offerings that complement each other. Think: For ONE single ideal customer, what are the offerings that they need?
Most people have two businesses (or more) in one, and that’s tough to scale.
The idea is that each offering leads from one to the next as a natural upsell or cross sell when your ideal customer is ready for the next step.
Action: Review your ideal customer avatar. With each of your current offers, ask yourself, “Would my customer avatar be interested in this?” If the answer is no, remove that offer.
Delegate day-to-day fulfillment and operations to your team.
In order to get to a 7 figure business, you need to remove yourself from the day-to-day operations.
The only way to do that, you need to build a robust fulfillment system so that you can focus on growth and not get stuck working “in” the weeds of the business… which takes you away from growth (which we don’t want!!).
Action: Once you know what your ONE core offer is that you’re going to scale to the next level is, look at the fulfillment of that particular product/service and create the key training, systems, automation and processes to offload that to your team so that you don’t have to do much of any fulfillment.
Then, block off your calendar for some time on growth-oriented activities.
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Key Topics Discussed:
Austin: (Simplifying) is the hardest thing to do. Because all of them are our babies. And we know it’s a part of the vision. But the only way that we ever get there is if we make things easier. Unless you’re different, we only have 24 hours in a day, and we aren’t going to spend it all working.
The Main Lessons: Systemizing Your One Core Offer
Austin: Because if you can then be in a spot where you’ve got the advertising, JV partners, and whatnot, and you’re already profitable by the time they come through this, this is just pure growth. So what you want is a machine on the front end, through Facebook, affiliates, advertising and whatnot, that’s continually feeding this…and it’s super scalable because you’re not involved in any of this.
The Top Lessons Learned
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