Scaling and Growth

Make More Money: The Ultimate Guide To Why Multiple Income Streams Are Important, 6 Great Ideas of What To Offer & How to Add A New Stream This Week

Any of this sound familiar?

You’ve heard you should have more than 1 (or 2 or 3) ways of making money in your business and you’re ready to add new ways of making money. Now. 

You want it to be easy (don’t we all) so you’re interested in options that allow you to use what you already have - and DON’T require you to create some big, completely new thing. Because seriously, who wants that?

You want your business (at least parts of it) to look like passive income. Or at least more like passive income than what you have now. 

You want to do it all quickly (like this week quickly).

If it does, you’re not alone. All of us want more money, and want it now.

Problem is, most of the advice out there isn’t really helpful because it only shows you one way to do things, or it intimidates you into thinking you have to blow up your entire business and start over. 

I mean, seriously? Not happening. 

Which is why I created this comprehensive guide for you to understand why adding more ways for people to pay you is a good thing (beyond, you know, simply making more money). 

Plus 6 ways to do it.

And a roadmap (in downloadable form even! If that’s your thing) on how to get it all done this week so money can start flowing now.

Let’s get started with the basics.

*Why it’s important to have more than 1 (or 2 or 3) income streams feeding your business*

You’ve probably heard the oft-repeated phrase that the average millionaire has at least 7 ways she makes money. 

No reason you should be any different.

But why 7? What’s so magical about that number?

It’s not so much the exact number that’s magical, but the smart business strategy it represents. 

Here are a few example of what I’m talking about:

1. Tastes and preferences change all the time, especially online. So if you’re only offering one service there’s a decent chance it’s going to go out of vogue sooner rather than later. And if you don’t see that coming you could be in for a world of hurt while you scramble to adapt.

But if you have 7 income streams and one stops works? Still not ideal, but those other 6 will tide you over while you figure out what’s next. And that’s a good thing.

2. You get to meet people at different price points and with different services.

When you successfully build an online business you’re going to gain followers with lots of different financial situations. And while you don’t have to offer solutions for everyone, it’s nice to offer more than one solution.

Think about it: if you only offer high-priced courses you’re cutting out everyone who can’t afford those courses. But maybe some of those people really like you, and maybe they would buy from you if you offered a more accessible product.

And by offering different products at different price points, you’re also giving people the chance to test out you and your services. Because even if someone has 1k or 2k lying around to spend on a course, they may not choose to spend it if they don’t feel like they know you.

By spreading out your offerings you’re allowing more people into your world.

Finally, a note about the flip side: I talked a lot just now about adding a more accessible offer to your high-end services because, frankly, lots of people go for high-end first. But if you’re one of those who only has lower-priced offers, why not try a VIP offer? Some of your audience will go for it, and you only need a few people to make a huge difference in your profit. 

3. Another reason you should have more than 1 revenue stream is because doing so helps you get comfortable being flexible, trying things and figuring out what does and doesn’t work for you.

When people only offer 1 or 2 products they get stuck in a mindset of never offering anything that doesn’t resemble those products. And that really hinders growth. 

When you learn to be flexible you have the opportunity to also get creative when you need to, and that’ll pay off in spades down the line. 

4. You might discover that you like something you had no idea you’d like. This one’s similar to my last reason, but different enough that it was important to include.

When you never try something new, you’re never going to know whether you like it or not. It’s a universal rule that’s just as true for getting 1st graders to try exotic food as it is to your business. So give a few things a try and see what you find. Who knows, maybe you’ll find a whole new direction for your business. 

Buuuutttt. how many income streams do I really need?

Well, I just told you that the average millionaire has 7.

Personally, I have 5 and counting.

I have successful friends with anywhere between 3-10. 

Only you will know the perfect answer for you.

I can tell you this: if you only have 1, you need more. And if you’re approaching 10 or more, you might want to consider slowing down because, focus and all. Don’t get too far ahead of what you can manage on your own. 

When I work with clients my minimum for them is 2-3. And if they’re starting with 1 I try to get them to 4-6 by the end of our time working together (usually 6 months to a year). 

In the end you’ll know what’s right for you. Start experimenting and figure out what feels right!

Now that I’ve convinced you how super important it is to have multiple income streams, I can’t leave you hanging without any ideas, right? 

Here are 6 ideas that I love because: 1) they can all be added this week (more on that below); 2) they don’t require you to create SOME BIG HUGE THING out of thin air and 3) they’re outside the realm of the usual advice you always hear, so they should spark some brand new ideas for you.

So without further ado...

6 Ideas You Can Add This Week

Idea 1: Bundled Products

What It Is:

Product bundles comprised of a unique combination of your courses, books, workbooks, etc that you offer at a discount compared to purchasing each item individually. 

Product bundles can also be joint venture offers where you bundle your product with someone else’s to offer unique value.

How To Create It:

Find a combination of related items you sell (or find someone to pair up with who has a product that complements your own) and bundle them together.

Why It Works:

Product bundles work well for a number of reasons:

1. There’s not much work on your end because the products have already been created, you’re simply offering them in a unique package for a great price.

2. By offering a discount against the full price of each product you’re offering a unique opportunity to get a deal on your products WITHOUT becoming known for discounting your individual products or services.

3. If you choose to offer this as a JV product with another entrepreneur you’ll expand your reach by being introduced to her tribe.

Action: What products/recorded webinars/information do you already have that can be organized around a central theme or need and sold in a convenient, downloadable, savable package? 

Examples:

  • Webinars and opt-ins bundled into themed kits

  • Jewelry bundled into unexpected seasonal, color, etc themes

  • Worksheets bundled into mini self-study courses

Idea 2: Repackaged Tools

What It Is:  

This might be my favorite of all the ways to monetize your business because it involves selling tools you’ve already created to help yourself run your business. 

Anything goes here from shopping lists, checklists and productivity systems - people are always looking to make their lives easier, so if you’ve found a way to make yours better odds are someone would be interested in hearing about it.

How To Create It:

There’s less creating here and more learning to be aware of what you’ve created for yourself that would be valuable to others. It’s easy for all of us to assume those little checklists and productivity hacks aren’t of value to anyone but ourselves, but they are. Take inventory of all the little stuff you’ve created for yourself and see what looks the most valuable.

Action: 

What tools have you developed to use behind the scenes with your clients or students?

Examples:

  • Raw materials shopping lists or quality checklists

  • Patterns?

  • Time-tracking sheets, Productivity systems

  • Social Media Tracking Tools

  • Think spreadsheets, checklists, software hacks, anything that you couldn’t do without and that would be helpful to anyone else who does what you do (but that isn’t central to your specific value prop)

Idea 3: Licensing

What It Is: 

We usually think of software when it comes to licensing, but you can also think of it in terms of products you’ve created that may be of help to others in your field (think a system you can license to fellow coaches) or to colleagues whose clients may benefit from your work.

How To Create It:

Look around at the systems you’ve developed for your clients, or the courses or packages you sell. Which would help others in the same profession as you? Package those up and offer with limited use. 

Action: 

What tools do you have that would be helpful to a specific population, or that you could offer publicly while still maintaining some control over the access people have or the number or type of people who have access?

Examples:

  • If you’re a coach what have you developed to manage your clients that other coaches would kill to have? (Think collaboration, not competition)

  • Makers: Do you have a unique & efficient production system that others would love to know about?

  • Do you have a course that would fit well inside someone else’s membership site? Offer it to them on a licensed basis.

  • Remember: You’re not licensing anything that’s a unique selling prop – just the tools you use behind the scenes.

Idea 4: Train the Trainer

What It Is:  

Train the Trainer programs exist to train others to do the same thing you do. 

How To Create It:

If you’ve become an expert at what you do, consider training the next generation behind you. And remember this doesn’t have to mean you train them only (or even at all) on how to help their clients. It might mean you train them on everything else about the business other than the core work. 

For example: if you’re a designer you may not train someone else in design skill (that’s what art school is for) but you may train them on how to run a business, market themselves, etc.

Action: 

What have you already mastered about your business that would be super valuable and helpful to someone new to your field?

Examples:

  • Mini-apprenticeship or paid mentorship

  • If you’re a maker or service provider what knowledge can you offer outside of the actual skill?

  • How to manage the business side of a creative business

  • How to find your unique style

  • How do you offer value that a generic business coach doesn’t?

Idea 5: Specific & Structured 1-Off Offer

What It Is:  

The specific and strucutred 1-off offer is a speciality offer you can make to solve one specific thing for your clients. It’s best used once you’ve built up the expertise to solve one specific (and common) issue quickly and efficiently.

How To Create It:

Think about specific problems you’ve figured out how to solve for your clients quickly and efficiently. If you have a specific process you follow to solve these problems, develop a structured offer (1 hour, half a day, whatever) that you know is enough time to solve their specific problem. 

Action: 

What problem can you solve for clients in your sleep? If you have one, you can probably replicate it for everyone.

Examples:

  • For Makers: Personalized art offer: Initial jewelry, Limited edition seasonal or holiday offer, Quote art

  • For Service Providers: think audits, calls centered around a common issue that’s solved the same way 90% of the time, Website Checks, Funnel Audits, Email Reviews, Visibility Booster, Block Clearing

Idea 6: Membership Sites

What It Is:  

Membership sites are sites people pay (usually monthly) to access. They’re great because they allow people to start working with you at a (typically) lower price point. They’re a particularly good option for entrepreneurs who love churning out content, because membership sites do need to be kept fresh. 

Action: 

What information do you already have on hand that can be repurposed and expanded upon to offer ongoing value?

Examples:

  • Stock photo clubs

  • Email template clubs

  • Mastermind clubs

The Classics

While I said my 6 ideas were going to take you outside the norm, I’d be holding out on you if I didn’t include the classic online offers because who knows? Some of you may not have considered these before: 

  • Mini-Course

  • Evergreen Course

  • Done-For-You Strategies

  • Borrow My Brain Sessions

  • Paid Challenge

  • Affiliate Marketing

  • Group Coaching Mastermind

  • E-Books

Now for the fun part! I promised I’d show you how to pull this off in week, and I will. Here’s the checklist. (Want it in printable form? Click the button below to grab a copy).

 

Day One: Take Stock & Brainstorm Ideas

  • Re-familiarize yourself with your inventory, tools & knowledge

  • Review the 6 monetizing ideas and eliminate any you’re not interested in using

  • Brainstorm 3 ideas for each of categories you are interested in

  • Eliminate any ideas you have no interest in pursuing (Try to have at least 5 left)

Day Two: Assess the Market & Decide on Offer

  • Research the ideas you have left using social and online tools

  • Narrow down your list to the few that meet the most need

  • Decide on what you’re going to offer

Day Three: Develop Promotion Plan

What channels will you use to promote your plan? Typical ideas:

  • Your Website

  • Your Email List

  • Etsy

  • Facebook Ads

  • Facebook Groups

  • Facebook Page

  • Local Event

  • Where Else?

Day Four: Tech Checklist, Prep Funnels & Emails

Confirm you have:

  • Lead Capture system (if you need it)

  • Shopping Cart

  • Sales Page

  • Payment Processor

  • Membership Site

  • Video Host

  • Digital Document Delivery System

Day Five: Design and Prep the Product

What do you need to prepare for your sale?

  • Combine bundles into single PDF

  • Photograph product bundles together

  • Outline mentoring features

  • Combine videos, webinars, etc in one place for membership site

Day Six: Write Emails, Sales Page, Posts, etc

  • Prep Emails:

  • Write and Launch Sales Page

  • Write Social Media Posts

  • Prep Social Media Graphics

  • Prep Email and Sales Page Graphics

Day Seven: Launch!

Activate Promotion Plan:

  • Send Email

  • Post on Social Media

  • Activate Ads

  • What Else?

So... what are you going to create and offer this week? Tell us all about it in the comments!

 

7 Steps To Your Best Ideal Customer

When I started my business one of the first things I did was start to dutifully fill out my ideal customer avatar just like I'd been told to do.

I searched google for a picture of what she might look like so I could properly visualize her.

I made up names for her and her family and friends. 

I knew what she had for dinner, what kind of computer she preferred (Mac, obviously) and spent too much time deciding what her favorite music, movies and TV shows were.

In my mind I had a perfect picture of her.

And then I crumpled up that piece of paper I'd so painstakingly slaved over and threw it away.

Why? Because I realized that I'd skipped a crucial step and as a result, that piece of paper was worthless. 

I'd skipped the step of deciding whether or not this person I'd made up in my mind was someone who even WANTED my services. 

I'd created an avatar without ever bothering to figure out whether or not this was a person I wanted to market to. 

I'd created a marketing tool before I'd bothered to decide whether or not I even wanted the person that marketing tool was built for to be my customer.

Nothing about that avatar told me whether or not I wanted to work with her.

Or whether she wanted to work with me.

Or - important! - if she could pay me what I expected to be paid.

Oops.

And that, my friends, is what's all wrong with all the advice you get about starting with a customer avatar.

So what's a girl to do instead? 

Throw the avatar away and instead start with the 7 steps below.

1. Who Do You Want To Help?

Step 1 looks a lot like the Ideal Customer exercises you hear about all the time.

Considering I just told you those exercises are worthless you’re probably wondering why I’m not telling you to go through one.

Totally fair.

Here’s the deal: they’re worthless when done in a vacuum as the only thing to be considered when thinking about your ideal customer. But they are valuable when used as the first step of a more thorough process.

So go ahead and think through who your ideal client might be.

(Or, let’s be real, just refer back to one of the 50 times you’ve already thought about this. #amirite?)

If you haven’t been through this exercise before, here are some of the things you should sketch out:

  1. Who is she? How old is she? Who are her family and friends? How does she spend her time?
  2. What does she like? What does she dislike?
  3. What does she do in her spare time? Who and what does she listen to, read, respect?
  4. Where does she spend her time consuming media? Does she spend it online? In print? TV?
  5. What problem is she struggling with that you want to solve? Why is she struggling with it? Why hasn’t she been able to solve it?

You get the idea: Write down everything you know about your ideal customer. If she’s you 5 years ago (which is super common) or if she’s a real person you know, describe her (or you, as it may be). 

If she’s a combination of several people you know, make up a persona for her, name her, and write down everything you know about her. 

Now that you have some idea of who she might be, we’ll use steps 2-7 to determine if she really is your perfect customer.

Hint: For most coaches and service-based entrepreneurs, this person is likely an earlier version of yourself who was struggling with the same problem you now want to help other women work through. 

2. Why Do You Want To Help Her?

WHY do you want to help this woman? It’s important to understand the why because you’re creating a business that you’ll presumably want to run for several years.

And trust me, if you’re going to go through the heartache and trouble of starting your own business, you want to start one you’ll actually like, and that means working with clients you actually like.

Which means it’s important to take the time *now* to make sure you’re seeing more than dollar signs in your why. I promise you’ll thank me in 5 years. 

(Actually probably more like 6 months. That’s how quickly it goes bad if you’re only chasing money).

Hint: Like Step 1, your why is likely a very personal one, especially if you’re going into coaching.

When you go through a personal transformation ourselves, it’s natural to want to share that experience with others who are struggling with the same thing. Don’t be afraid to own that as your why if, in fact, it is.

3. What Do People Already Ask For Your Help With?

Who asks for your help now? And about what? Is there something your friends and family always ask you to help with? What kinds of questions naturally find their way to you?

If people are always asking your opinion about something - whether it be natural skincare routines, home organization or how to lose those last 10 pounds - it means they perceive you as an expert with valuable knowledge to share.

That’s a really (I mean really) good hint as to who you should be helping at a larger scale (and hopefully your answer here has some relation to the problems the woman you met in Step 1 is facing, and to the why you discovered in Step 2. 

Hint: Make sure you actually like doing whatever it is you list in this step.

A very smart person once reminded me “Be careful what you’re good at because you might end up doing it forever.” Sage advice I think about every single day.

And I think about it everyday because it’s SO true -  we become good at something without really realizing it all of the time, and that’s what we become known for. This business is your baby, your creation. Make sure you pick something that you’re good at AND that you like doing. 

If your answer to this last question was no, don’t despair! Revisit the list of things people naturally ask for your help with - I promise there’s something there that you like.

4. Do You See A Match?

Take a look at your answers for Steps 1-3. Is there a common customer that fits all 3 answers? If your answer is ‘Yes’, Congratulations! The woman you want to help, why you want to help her and how you can help all match. 

Move on to step 5 to make sure the flip side of the equation - the financial side - is also a match.

If your answers don’t match up, don’t worry - this is far from the end. Look at what DID match - maybe 2 steps but not the 3rd? Find the commonalities you do see and start looking for ways to build on those to bring everything in line.

Hint: If you’re still having trouble finding a match, try narrowing or expanding 1 or more of your answers and see if you can find one that way.

5. Can She Pay You?

This is both the most important AND most ignored question on this list. Paying attention here will catapault you past 98% of your fellow business owners (I’m not even kidding).

I know you want to help others, but at the end of the day you’re building a business for yourself.

And guess what: when you’re building a business to support you and your dreams, that business needs to make money. 

Please take an honest look at who you’ve chosen as your ideal client, what you’re planning to offer, and decide if she can pay you market rate for those services. 

Hint: I’m not asking you to do a ton of complicated research and financial modeling here. A gut check will suffice. 

For example: If you want to serve non-profits, recent college graduates or low-income populations (all laudable choices) please don’t assume you’ll make money by selling high-price VIP offers.

6. Do Enough Of Your Ideal Clients Exist?

Technology is amazing, and we’re told over and over that running your business online will allow you to serve the most random of speciality niches, and do so profitably.

Well, yes. And also no.

Just because the niche exists doesn’t mean there’s enough interest to fill your calendar. Before you start marketing to your ideal client, make sure there are enough of her engaged and buying similar products elsewhere.

Hint: Take a look around at Google Keyword searches, Facebook’s Audience Insights (if you use Facebook advertising) and other blogs or sites that serve your ideal customer to gauge whether the market’s large enough to meet the needs of your business. 

If you only see 1 or 2 blogs and they don’t seem to get much site traffic, consider that a red flag. If you find 100’s of blogs with highly engaged readership, consider that a green flag (and no, don’t worry that the market’s saturated. Finding no competition is a much worse sign for your business idea than finding tons of competition is).

7. Do You Know How To Cost-Effectively Reach Her At The Scale You Need?

This is another step that’s skipped (or not even considered) way too often because it sounds hard and intimidating. Don’t fall into the same trap. 

It’s all fine and great to know who you want to help, to know that she wants your help, and know that she exists and can pay you. Those are all super important steps to validating who your ideal customer is, and why I included them in this list. 

But none of that info means anything if you don’t look at it through the lens of this final filter. It’s that muy importante. 

Do you know how to find her at the scale you need to meet your income goals?

Take a look at your revenue goals and make an educated guess on how many people you need to reach each month to meet those goals, and what kind of financial investment it’ll take to do so (and make sure that educated guess is doable for your business).

Hint: The outreach required to find 3-5 clients a month for a coaching package can look a lot different than having to find hundreds of customers to buy a product each month. How you plan to deliver your services counts a lot here.

There are countless marketing strategies that work for each model, some paid and some free, so you need to know which ones work for your style, how quickly you want to grow and what resources you’re willing to invest.

Stuck on one of the steps and want my take on it? Tell us about it in the comments and I’ll help you out.

How To Write A Business Plan That's Actually Useful

Business models and business plans sometimes (ok, usually) get a bad rap. They sound scary, complicated and hard, and like something you probably need an MBA to figure out.

And they definitely sound super official, as if writing something down and calling it your ‘Business Model’ ties you down to doing exactly what you write on that piece of paper for the next 10 years. (at least:)) 

Or makes you feel like some super stiff banker in a bad 3-piece suit is about to approach you while you blog away at your local cafe demanding to see your financials.

#amirite?

What they DON’T sound like is a super-effective tool you can use to flexibly shape your business and your blog into exactly what you want it to be.

But I have news for you: that’s wrong. So wrong. 

Business models are the single most effective and flexible tool you can use to help you reach your blogging and business goals.

And that means today I’m challenging you to see business models for what they are: fanstasically useful roadmaps that help you understand what your business and blog needs to run today, and what it’ll take to get you from today to where you want to be 1 month, 3 months, 9 months, even 2 years down the road.

How do I know? Because I’ve used them on my own businesses and client businesses for over 10 years now, and the results speak for themselves:

  • Scaling from 100-200k/annual revenue to 7 figures in as little as a year
  • Uncovering pieces of a model that didn’t align with a founder’s values or interests, and in the process stopping burnout and overwhelm in its tracks  
  • Countless businesses started on a solid foundation built to grow instead of the all-too-common “oh crap what did I build, I can’t scale this” panic that bloggers and online businesses run into way too often.

And don’t worry - no thousands of dollars or months of work is required to create your own and experience the same benefits. Nope. 

In fact you can create a wildly useful one today (really in just an hour or 2) while enjoying your daily cuppa. 

How? 

Because I’m sharing a super simple framework (and printable worksheet) to help you create your own here and now. For free. Today.

Your business is worth that, right?

Right. Good. Let’s get going then, shall we?

We’ll start with the basics:

What Is A Business Model?

I’m going to repeat myself here, because I think it’s a really important point to drive home: a business model is nothing more than a super-helpful (and super flexible) roadmap you can use to guide your business and blog to the next level.

It’s an at-a-glance guide to where you’re at and where you’re going.

And a pocket-sized reminder of all the reasons you’re doing this in the first place.

And mostly an ongoing sanity and reality check for you, to make sure you haven’t gotten off course and that you’re accounting for everything you need to account for. 


The Two Sides of Your Business Model

Business Models have 2 sides to them: the Revenue side and the Operations side.

The Revenue side covers everything that needs to happen in your business to bring in revenue. This includes sales and everything that leads up to and follows sales, including what it takes to  generate those sales and then keep customers happy once the sale is complete. 

The Operations side of your business model covers, well, the Operations side of your business. This includes stuff like technology, fulfillment, expenses (both fixed and variable) and everything else it takes to actually RUN your business. 

Makes sense, right? After all businesses by definition exist to make money, and in order to make money you need to both sell something (revenue) and have a way to sell that thing that delivers the promised product at a profit (operations), so both sides need to be covered in order to really understand what’s going on in your business.

OK. Now that we’re all up to speed on the basics let’s jump in and break down the Revenue and Operations categories further.

And remember, if you want to play along as we go, download your own business model planning worksheet right here.

Revenue Activities

The Revenue side of your business is made up of 7 different categories, all of which help you to sell whatever it is that you want to sell. 

Customers: Who Are They?

This one’s pretty straight forward: Who are your customers? How many different segments do they fit into? What are those segments?

If you’re just starting out you probably only have one type of customer and don’t yet have to worry about different segments.

Larger or more complex businesses may have several different customer segments - for example, an established online business might offer 5 different online courses, and those courses probably each have their own specific customer segment. 

Maybe those segments vary by expertise - there are courses for beginners and courses for more experienced people, or maybe they vary by interest - a photographer might offer one photography course for bloggers and another for new moms who want to learn how to photograph their families. Those are different segments.

Pro-Tip: If you’re just getting started and only have 1 segment now, think about how you might want to expand in the future and jot down any ideas you have for different segments you might want to look at later. This gets you thinking beyond today and into growth and will help you position your blog and business for where you want it to be a year from now, not where it is today. 

 

Value Proposition

Now that you know who you customer(s) is, what problem do you solve for her? This is your value proposition - the hot burning pain you solve for customers.

Note that your value proposition is not what you do, it’s the problem you solve. I know this sounds obvious as you read it, yet it’s probably the one single thing I see new business owners get confused on time and time again. Example: If you’re a photographer your value proposition is not the fact you take photographs. Your value proposition is that you preserve people’s precious memories for eternity (if you’re a family photographer).

 

Channels and Partnerships

Now that you know who you help (Customer Segments) and how you help them (Value Proposition), time to think through how you let them know you can help.

Enter your Revenue Channels and Partnerships. This is where you detail all the different avenues you use to communicate with potential customers. Think social media, email, website, phone, video conference, webinar, partnerships/joint ventures, advertising, speaking, Facebook group networking, etc. 

Bonus points here if you can review anything you’ve tried in the past to rank the effectiveness of each channel for your business. If you can do this, take note of which channels have worked best for you in the past and prioritize those going forward.

 

Customer Relationships

Customer relationships are all about making sure you know what kind of interaction (what kind of relationship) each of your customer segments expects from you (and what you expect from them).

Think course (or coaching) execution and customer support. Think pleasant surprises and overdelivering.

Do all of your customers expect to hear from you directly? If so is it over the phone or over email? Or would some segments be ok hearing from an assistant or using self-service?

Think beyond paying customers, too. If you have an email list, what do those people expect from you? Are you delivering it? You don’t want to overlook customers who aren’t quite customers yet - take care of them now and they’ll become customers before you know it.

 

Revenue Streams

What else would we close the Revenue Section with but with, well, Revenue! 

Revenue. Money. Sales. List all the ways your business or blog generates revenue. Think 1:1 services, group programs, courses, affiliate revenue, etc.

Now list the prices associated with those different revenue streams (noting if your gut tells you any of them may be too high or too low) and which of your customer segments (if you have more than one) feeds each revenue stream.

Bonus points if you can assign a percentage of total revenue to each revenue stream. 

Pro-Tip: I advise my clients to have at least 7 different streams of revenue. This protects you against sudden changes in the market or even against slow months. If you’re just starting out and only have 1 or 2 revenue streams, take a minute to brainstorm how you could add a few more. 

Need more ideas? Check out this post where I cover 6 ways to add a revenue stream to your business this week.

Operations Activities

Congratulations! You got through the Revenue side of the model. Now it’s time to turn attention to the Operations side, which is much shorter than the Revenue side with only 3 categories. 

Resources

What Resources do you need access to in order to fulfill the Value Proposition you listed on the revenue side?

These include the Physical (office space, machines, equipment, vehicles, etc), Intellectual (what do your business need to know to deliver on its promise? How about trademarks and copyrights?), Human (who do you need on your team?) and Financial Resources  (do you need start-up cash? Monthly reserves?) you use. 

Mark those things you need but don’t yet have, and bonus points if you think ahead by listing the things you’d like to have in order to grow, but that aren’t completely necessary to run your business today. That list will show you exactly where your next investments should go.

Fulfillment

Look back at the products and services you’ve listed to this point. What do you need to do in order to deliver on them? Unlike your resources, which are the physical things and tools you need to deliver the job, fulfillment covers the tasks that need to happen to deliver on your promises.

What are the daily tasks that need to happen? Do you rely on any partners to fulfill any of these tasks? If so write down those key partnerships. 

Cost Structure

Another terrifying term to most new business owners (and experienced ones to boot): cost structure. Sounds like a recipe for a 20 page spreadsheet. It’s not. #pinkypromise.

At its simplest your cost structure is nothing more than recognizing where the different costs come from in your business and categorizing them into fixed (paid no matter what you sell) and variable (paid based on how much you sell) costs. 

To break down your cost structure start by reviewing your resources and fulfillment categories and listing down the cost of everything you identified as needing to run your business.

Now look at those costs and categorize them into buckets like partner costs, HR/Outsourcing costs, Technology/Software, Production costs, Marketing costs, etc. 

Group your costs as best you can, and then note whether any of the buckets look out of line with the benefit they give your business. (for example: are most of your costs tied up in technology subscriptions you never use? That’s a red flag. Or maybe you spend a ton of money on courses and programs but never actually go through them? Another cost to pay attention to).

Also note whether or not the majority of your costs are fixed (you pay them whether or not you get the sales) or variable (costs increase as sales increase).


Gut Check

Now that you have a full outline of your business in front of you, do a quick gut check. Anything feel completely off? Anything working much better than you thought?

Write down those gut impressions and make a note to yourself to go back and see if there are changes you can make for anything that doesn’t look like it’s working. 

 

Where Do You Go From Here?

At this point you’re probably thinking “Great. Now I can say I have a business model written down. But what good does that do? What do I do with it now?”

And this, friends, is where what you’ve just written down goes from a static piece of paper that you create one day and forget about the next to the most powerful planning tool you have for your business. 

Here are my 3 favorite simple, quick and wildly-effective ways to use your newly-created business model. Put these 3 things in place and your business will grow and transform seemingly on its own.

(And by the way, these are the exact 3 I’ve used over and over again over the years to create and the 7-figure businesses I’ve built and consulted on...)

1. Quarterly Review: Schedule an hour each quarter (note: NOT a major time commitment, you can do this) to see what, if anything, has changed since last quarter. Maybe you’ve added a customer segment. Maybe you’ve made a major investment or 2 and it’s time to update your list. Maybe you’ve cracked the Facebook ad code and your revenue is skyrocketing. 

Whatever’s changed, write that down and update that section of your model. Then (and this is the important part) go through the rest of your model and see how that change affects everything else. If you’ve added a customer segment, what do you need to add to make sure they’re as well taken care of as your original segment? If you’ve gone all in on advertising, how has that affected your cost structure? Are you still coming out ahead? 

Reviewing this for just an hour a quarter makes the difference between staying ahead of your growth and getting caught behind the growth 8-ball, which is the quickest path to overwhelm and burnout. 

2. Inform Your Goals:  Too often I see bloggers and online business owners pulling goals from thin air - maybe they’re tied to what a friend or mentor did, or maybe they’re just random numbers from wishful thinking. 

Problem with that is that when goals aren’t grounded in something real it’s REALLY hard to make them happen. So instead of taking random guesses, look at your business model, where you’re at and where you want to be, and craft your goals from there. That way you’ll make realistic goals that factor in where you want to be and the resources currently avaialble to you, and when you return to your model each quarter for your review you’ll be able to see the progress you’ve made and update your goals accordingly.

And nothing makes goals become reality than seeing the progress you’ve made towards them, and what you’ve already accomplished. It’s incredibly freeing.

3. Recognize Your Plateaus - And Move Past Them: Every business and blog plateaus at some point. It’s natural. But it’s also hard to spot, so it’s easy to get stuck on a plateau for way too long.

When you’re reviewing your business model each quarter, though, it’s really hard to NOT realize you’re on a plateau when you reach one. Your goal review, your revenue review, even your review of who and how you serve your customers will point out very quickly if things have stalled. And show you exactly how to get out of that stall pattern by illuminating your next obvious move. 

Whoo (*wipes forehead) there you have it - why and how to create a business model, and the 3 super simple things you must do with it in order to create mind-blowing change in your business and blog this year.

Ready to dive in? Don’t forget to download your business model template worksheet that walks you through each of the categories we talked about above.

Why I Moved to Squarespace From WordPress (After Refusing To Consider It For Years)

After years of refusing to even consider moving to Squarespace from WordPress I recently made the switch. It took me less than a week (4 days and about 8 hours total) and I haven't looked back since. Click through to find why I made the switch and everything that's gone right since I did.

The other week I spent portions of 4 days (about 8 hours total) moving my entire web presence to Squarespace from WordPress where it had lived since I first started a form of this business about 4 years ago.

To say I never saw that coming would qualify as the understatement of the year. Maybe the decade.

See, ever since I started in my own business (and really even for years before that when I was running websites for other businesses) I've been a hard core WordPress supporter who refused to even consider other options.

And Squarespace in particular? Forget about it. I was convinced there were way too many limitations in Squarespace, and that anyone who built their site on the platform was making a huge mistake. Like your business is doomed to failure-sized mistake.

I was so wrong.

Over the past year I've been making massive moves in my business. I've moved from a primarily startup tech-focused consultant to working primarily with women starting and growing their solo online businesses.

And with that change my website became more and more important. When I was doing more traditional tech startup work the vast majority of my leads came from organic referrals and no one really cared what my site looked like, much less even visited it.

All the while I had the idea in my head of the direction I wanted to pivot to, and I knew that shifting full on into the online space meant I needed a robust and flexible site that would allow me to reach the women I wanted to reach and connect with them when I did. 

And I was convinced I needed WordPress for that.

But then a funny thing happened. Last summer I fully committed to the change, leaving behind the (vast) majority of my tech work and focusing solely on helping women online. It was a great shift personally and I was enjoying the work as much as I'd thought I would.

Except it wasn't moving quickly enough for me, and I was frustrated and couldn't figure out why. 

Fast forward to 2 weeks ago: it was a Tuesday night and I'd spent much of the last few weeks before it wrestling with plug-ins and integrations and broken stuff on my website. I know just enough html and CSS to be dangerous, so I was determined to make my site look the way I wanted it to. And every time I tried to do that I'd break something else. It was frustrating, maddening and left me with no time to actually market and grow my business, because I was spending all my time working on my business and this increasingly frustrating website.

I was frustrated, angry and over it. 

And then I woke up in the middle of the night with one of the most intuitive hits I've ever received: I needed to move my site to Squarespace, and I needed to do it immediately.

I was surprised and confused (to be honest it's the first time I ever remember waking up in the middle of the night in a start like that with such a clear message) but it was so unusual that I knew there was something to it.

When I got up the next morning the first thing I did was do a little googling about Squarespace and set up a test account. Within an hour I was convinced and already in the process of moving my site.

Here are the things that convinced me to move, along with some (very) pleasant surprises I found along the way:

1. I was ready to work on my business, not in it.

As I said above I was spending a ton of time - like all my non-client time - trying to wrestle my site into looking and performing the way I wanted it to look.

I've felt the nightmare of custom-coded sites before first-hand so I didn't want to turn my site over to a developer that would code something in that I'd never be able to touch without breaking, so I wasn't willing to pay for a developer. But I also obviously wanted my site to look professional.

And since I knew just enough about html and CSS to be dangerous, and have been working online since 2004, I had high expectations that I was spending all my time trying to meet. Which means I spent no time marketing or promoting my business, and the results were just what you'd expect: I wasn't growing at near the rate I wanted to AND I hated my site because it didn't look the way I wanted it to look.

Eventually I was just over working so hard for no return and fed up with not building my business. Squarespace promised to give me a website I could quickly design while keeping it completely pro looking. Done and sold.

2. Constraints nurture freedom and creativity

One reason I always hear for people not wanting to use Squarespace (myself included) is that you can't customize the look and feel enough. Fair enough, you  can go way more custom with WordPress.

But you know what? With custom comes all the problems I described above: it's difficult to actually make any of those things happen unless you're a pro developer or are willing to turn your site over to one. I was neither, so I actually found myself finding the freedom and creativity I wanted under the constraints in Squarespace. This is a common phenomenon in anything creative: constraints have actually been shown to nurture creativity and freedom of expression because they put limits on what you're able to do.

And by putting limits on you, you're free to explore within those limits instead of becoming completely paralyzed by the endless options available to you in a limitless world. For me that made a huge difference and I feel way more freedom using Squarespace than I ever did in WordPress.

3. LeadPages and other workarounds

One very legit criticism of Squarespace is that it doesn't offer the same robust plug-ins and integrations WordPress does. And that's totally true, and even a year ago that probably would've been a deal breaker for me because you just can't do what you need to do for some core business functions (like efficient list-building) using Squarespace and its limited integrations out of the box.

However, I realized the software driving those functions - in particular LeadPages - had come so far in their own functionality that I wasn't using WordPress plug-ins for those things anymore anyway. For example I'd taken all of my email subscription forms off my website in favor of LeadBoxes. And my pop-ups and sharing forms were all driven by SumoMe. 

And guess what? LeadPages and SumoMe work exactly the same in Squarespace as they do in WordPress, so the exact functionality I needed for my core business activities actually happens almost exactly the same way whether I'm on Squarespace or WordPress. 

4. I plan to host my courses elsewhere

Another big knock against Squarespace is its lack of a membership option for hosting courses or membership sites. Again, totally fair on one level. However, totally unfair on another.

For one, I never recommend people host their courses or membership sites on their actual main website. They should all be hosted on a separate URL that's specific to the paid product. Therefore even if you want to use WordPress for your course site you don't have to use it for your main site - they're completely different things.

And second, independent course-hosting sites have come a long way in the past year or 2, and I'm planning on using Teachable to host all of my courses. Therefore it doesn't matter whether or not Squarespace can host them or not. 

5. I saved money - a lot of money

Another common annoyance with Squarespace - and definitely one of mine - was the monthly fee it comes with. People hear that, wrongly compare it to WordPress being free, and move on without considering it.

I know because, again, I was guilty of doing exactly that.

When I went to look at it, however, I realized that was completely untrue.

First off WordPress isn't free out of the box. Sure the actual open source software is, but you can't actually have a live site without paying for a hosting account. Personally I was paying $17.97/month for hosting. That's almost 2/3 of the monthly fee I'm paying Squarespace now and doesn't account for all of the other plug-ins I was paying for.

In total I calculated I would save almost 50% annually just on the bare bones basics. Add in the life-time licenses to plug-ins I'd previously purchased, the thousands I was about to pay a developer and designer to fix (and maintain) my site and this became another no-brainer in favor of Squarespace.

After years of refusing to even consider moving to Squarespace from WordPress I recently made the switch. It took me less than a week (4 days and about 8 hours total) and I haven't looked back since. Click through to find why I made the switch and everything that's gone right since I did.

 

6. traditional seo is not a deal-breaking priority in my business

One continued limitation of Squarespace is that it can't hold a candle to WordPress when it comes to traditional SEO. For me (and for the majority of my online clients) SEO doesn't actually matter that much, though. We're driving traffic through social media sites that have their own particular versions of SEO that work on their platforms, and for that Squarespace is not limited.

So while SEO would remain a concern of mine if you did rely solely on traditional Google search, for me it was so low on the priority list that it wasn't a deal-breaker. In fact it didn't really even end up factoring in my decision.

7. say good-bye to hosting nightmares

Another classic warning against Squarespace is that you can't control your hosting - they host your site for you - and therefore you're putting yourself at the mercy of Squarespace's servers. Fair enough, and completely true.

However, this is another myth along the lines of WordPress being cost free: you don't have complete control over your WordPress site either. In fact you hand that control over to the hosting company you choose to host your site on, and that's anything but stable.

In the months leading up to my decision to switch I saw client WordPress sites going down left and right - one for a FULL 10 DAYS - and there was little to nothing we were able to do about it. While I didn't feel a huge rush to Squarespace while this was happening, once I started looking at Squarespace you can bet those experiences came to mind when I examined this whole "I have no control over Squarespace and their server" recommendations. Truth is Squarespace has way better up time and performance than most, if not all, of the WordPress hosts I've seen.

8. lots of Unintended (but welcome) side effects

And last but not least, Squarespace has delivered so many unintended but very welcome side effects since I made the change. I'm happier. I'm way less frustrated. I'm no longer embarrassed to give anyone my URL because I no longer have to worry about what's broken or what looks amateur. It just works. And I like that. 

My list, my social media followings, my leads, my business - they're all measurably growing, and doing so quickly, since I moved because I have the time to nurture them. My site works and in turn I've had some of the most productive weeks in years. It's not a coincidence.

Your turn. 

Have you thought about moving to Squarespace? Have you done it? What did you think? What can we help you with if you're still thinking about it? Leave a comment below and let's discuss!

Step-By-Step Guide To Writing A Welcome Series for New Email Subscriber

Email strategy has got to be one of the great mysteries of the online world. Sales funnels, welcome sequences, weekly newsletters, blogs oh my! It can make anyone's head spin, much less if you're new to the online and blogging world.

Fact is talking your email strategy down to a manageable step-by-step strategy is pretty easy. And one of the first places to start is with a welcome series.

But before I get into showing you exactly how to write your welcome series, let's talk about what a welcome series is.

A welcome series is a series of 1-3 emails you send people in the days immediately following them signing up for your email list. The point isn't to sell anything but rather to start a relationship. After all they may have seen you in a Facebook group, come across your blog or found you on a pin and opted into a simple worksheet or checklist you offer.

In other words, there's a good likelihood they've never been to your website and don't really have any idea who you are. And if they have no idea who you are there's little use of you emailing them a sales pitch or even your regular weekly newsletter, because they'll just be confused and wondering who you are.

Therefore the best thing to do is to send all of your new email subscribers through a welcome series designed to introduce them to you + and your brand.

How exactly to do it? I'll be honest - there are a million ways to approach a welcome series. You'll see some that last anywhere from a single email to a 2 week (or longer) series.

Below is the series I've used in the past. Feel free to follow this outline or adapt to what feels more natural for you. The point isn't to follow an exact formula but rather to do what feels right for you in order to introduce people to you.

 

Day 0: welcome + opt-in delivery (Immediately upon signing up)

As soon as someone signs up for your list you should send them whatever they've signed up for (ie worksheet, e-book, whatever your freebie offer is). Also take the opportunity to say a quick hello and let people know you'll be in touch more this week.

Bonus: Ask a question that makes people want to reply to you. When people reply they'll naturally have a higher engagement with your brand, and you'll get the benefit of learning who is on your list and why.

day 1: my story + opt-in reminder

We all have overflowing email boxes so it's not at all uncommon for people to miss your initial email and opt-in, even if they're looking for it. Which means it's a good idea to follow up the next day with another link to the opt-in. This gives people 2 chances to grab what they were initially interested in.

Also take the opportunity here to share your story and your why so people can get to know more about why you do what you do. Connections and understanding are important and it makes a big difference when people know why you're showing up.

day 2: what i believe to be true

Day 2 brings a chance to differentiate yourself from the crowd: you've shared your opt-in with them and your story. Now share something you believe to be true (or false) about your industry that's against the norm. This will help people understand what you're all about and differentiate you from the rest of the crowd. 

This is also the first time you should mention anything about your programs or courses or whatever it is that you sell. Mention it in passing, but don't deliver a hard pitch yet. You want people to know you and what you offer before you go in for the sale.

day 3: Here's some of my best work

Now that you've differentiated yourself, share some of your best work. Send a message that includes links to your best blog posts, podcast interviews, guests posts or articles that have been written about you. This builds your authority and credibility.

day 4: i screwed up and then i fixed it

Time to get real: share a failure or screw up on your part and how you fixed it. We're all human and we all screw up and people want to see the human side of you. Be sincere and also make sure to show how you fixed the screw up - people want you to be real but also want to know that you can recognize and fix the mistakes that you make.

Day 4 can also include a stronger call to action on how to work with you.

day 5: Pure value preview content.

Day 5 is a great day to share some preview content of what it's like to work with you. If you sell courses consider including a link to one lesson. If you're a coach include an exercise you use with all of your clients.

You want to give people an idea of what it's like to work with you while also sharing something ridiculously valuable so that if they're not yet ready to work with you they'll still get a quick win from the information you share for free.

day 6: Final, strong CTA for whatever's next including FAQ's and testimonails.

Finally don't be afraid to close your welcome series with a strong call to action. Include some FAQ's and testimonials and make it clear how to work with you and why someone should. And finally, let people know what's next - set their expectation for how often they should expect to hear from you going forward.

Putting a welcome series in place is one of the easiest things you can do to help people get to know you and increase the quality of your list. I hope the outline above helps take the mystery out of it so you can get one implemented this week!

What questions do you have about your email welcome series? do you have one in place? does it work? tell us about it in the comments.

What Silicon Valley Can Teach You About Building A Successful Blog and Business

Silicon Valley and the traditional tech startups that reside there can teach all of us bloggers and business owners a lot of valuable lessons about how to build a business. Click through to read about some of the most valuable lessons I brought from my tech career to my current business.

I've called myself an entrepreneur for over 10 years now. From tech to nonprofits to solo biz to higher ed ventures - I've seen (what feels like) all of it. 

And while we all call ourselves entrepreneurs, the differences between the tech startup world and the different entrepreneurial ventures I've been part of

Which means there's a lot for those of us in the online world to learn from how they do things in the Valley. These are the biggest lessons I've brought with me from the Valley to the online world:

Fail fast and learn from that failure.

We talk a lot in the online world about celebrating failure as being inevitable on the way to success. And I agree - you will fail. But what we sometimes miss in the online world is that it isn't just about failing for the sake of failing in order to get it out of the way - it's actually about failing as fast as you can so you can LEARN from the failure and move on smarter.  

It's ok to say you want something, and it's ok to work really, really hard to make that thing happen.

Self care is a huge topic in the online entrepreneurial world, and I get it. When I was in tech I was burned out and miserable. I definitely needed more self care. But just like you can ignore self care and work too hard, I believe you can take self care too hard and never get around to working hard.

Building a business takes work. Hard work. Don't be afraid to work hard. There are seasons of hustle and seasons of recovery and both are important.

Your first customers are everything. Treat them like royalty.

This one's self-explanatory: your first customers are everything. Treat the like royalty and they'll be loyal to you forever. Learn from them, ask them what they want, and never forget they were there for you first.

Diversity is best: women in tech, men online.

The tech world has a well-documented diversity problem, including a serious lack of women. The best tech companies are very serious about correcting this problem, and not just to appear politically correct. They're trying to correct this problem because it's been proven over and over again that diverse companies and diverse ventures perform better than those without much diversity.

I've noticed an opposite phenomenon in the online space: the women tend to only work with women. Part of me gets it: we're told to niche down and lots of us choose to serve women, and therefore our businesses become women-centered. But I see it go too far as well: I see women who don't want to hire or work with men because they're intimidated or don't think men understand their business or a million other things.

This is the reverse diversity as the tech world's dealing with, and you're losing valuable perspective if you're not working with me (even if your customers are women). 

Keep innovating or die.

The best tech ventures are always trying something new. Think about it: love it or hate it Facebook's always doing something to its algorithm in order to stay relevant. Same for the other social networks. This isn't by mistake: Silicon Valley knows that a company is only as good as its latest idea.

In the online world this means if you have one great launch or one successful product, don't assume it will stay that way.  Keep listening to your customers, keep listening to your gut, and keep experimenting. 

Entrepreneurship isn't only a young person's game.

The myth of entrepreneurship is that it's a young person's game. And fair enough, because the Mark Zuckerberg's and Jack Dorsey's of the startup world keep that myth front and center.

But stats don't back this up: most successful entrepreneurs are over 30 years old, even over 40. The years of experience and wisdom do matter. So if you're not 21, don't worry. You can still be a wildly successful entrepreneur.

A person's hustle, passion and ability to get things done trumps smarts everyday. 

This one's hard for me because I have an MBA and lots of traditional credentials, but reality is successful entrepreneurs are the ones who know how to get things done consistently. The act of showing up and persisting means way more than any smarts or credentials you may (or may not) have. Hustle accordingly. 

What do you think? what are the biggest lessons or inspirations you take from the startup world to your online business? tell us about it in the comments.

4 List-Building Myths The Gurus Talk About That Are Completely Not True

List-Building myths are all over the place in the online world, and I'm busting 4 of the worst offenders. Click through to find out which myths you hear all the time that are completely not true.

There are few things I find more ridiculous in the online business world than this phenomenon I see over and over and over again that there's only one way to accomplish something.

Whether it be building a list, finding your first client, launching your first course, gurus left and right share their model and specific way of doing something without doing anything to dispel the notion that it's only one of a million ways to achieve the goal at hand.

In one way I get it: there's a strong feeling among lots of people that you can only teach what you know and what's worked for you. And since lots of people have only done things one way, they only know how to teach one way (or think they're only allowed to teach that one way). 

I've been working online in one way or another for over 10 years, and in that time I've used a zillion different methods to reach different the same goal. And I've found my way there by experimenting, watching what's working for others, and piecing together a bunch of different strategies into something that works. 

The only thing I've never seen work is going into a project closed-minded with only one potential path laid out to reach said goal.

So when I run into a client or student whose stuck because she was only given one strategy to achieve something, it makes my blood boil in a very specific way.

And one of the worst offenders in this arena? List building strategies and outdated beliefs, hands down.

For whatever reason the online gurus are very committed to their specific strategies and beliefs around list building, and they're not afraid to scream them from the rooftops.

I CALL FOUL.

The are a million horrible myths out there that scare new entrepreneurs off from ever trying to build a list, and it makes me crazy.

But I reserve my biggest frustration and craziness for the 4 myths below, which are that terrible combination of most common AND most wrong. It's high time these myths get busted for good, and I'm doing it today.

List Building Has To Be Methodical And Slow.

This one slays me. I see list-building gurus advising over and over again that you better get comfortable when you start to build your list because it's going to be a long, hard slog to reach your goal. 

Not true. I mean maybe one day it was, I don't know, but in 10 years online I've never built a list slowly and methodically.

Lists can be built and built quickly, even without using paid advertising. There are bunch of strategies I've seen that can add 100, 500, even 1,000 or more people to your list in a matter of days.

The most typical ones I see exploding lists and doing so almost overnight?

  • Webinars
  • Guest Posting
  • Joint Ventures
  • Viral pins on Pinterest

Stop listening to anyone who tells you your list building effort has to be hard and long. It's just not true.

List Size Is Everything.

Another one I hear all the time is that the only thing that matters about your list-building effort is getting people on the list. 

Again, so not true. 

You know what's way more important than getting a bunch of people on your list? Getting the right people on your list. 

The implications of having a list filled with anyone is far and wide: you pay to keep people on your list that will never buy from you, and when they don't open your emails your deliverability rates to people who actually WANT to hear from you go down too. 

There are no positives (other than meaningless bragging points) to having people on your list for the sake of having big list numbers. Build your list with people who want to be on it, even if that means it's smaller than it could be. Your profitability will be higher, and that's way more important than your number of opt-ins.

You Can Only Build A List With Simple Opt-Ins

This myth is related to the list size myth above. Most gurus will tell you to use the lowest-common denominator opt-in you can come up with as your lead magnet. They advise simple checklists, worksheets or 1-pagers because they require the least amount of commitment, and therefore attract the largest number of people.

I have no argument with their reasoning - quick and simple no-brainer lead magnets do convert really well, and I use them regularly. However, there's a flip side of this argument: since those opt-ins are so quick and simple the people who come to your list via those opt-ins are generally less qualified than those who enter your list via more complex opt-ins.

Case in point: I have simple 1-page download opt-ins on my site and I also have a VERY in-depth, 10 day free email course. You better believe the people who opt into the email course are WAY more qualified and likely to continue following me and to become my customers than are those who enter via the simple opt-ins.

As I said I personally use a mix of these strategies because I don't expect everyone to want to go through a free 10 day email course. That's a serious commitment and I want to offer other points of entry to my list. But I have to do a lot more follow up and nurturing of anyone who comes in via the quick opt-ins, and I lose a lot more of those people than I do those who go through the course, so I would never put all my eggs in the quick download basket. Doing so does not lead to a best quality list you can curate.

No Matter What You Do Your List Will Only Convert at 1-3%

The last myth I want to bust is this old school idea that no matter what you do your list will only convert to an offer at 1-3%. There's so much wrong with this I don't even know where to start so I'll simply say this: there are lists, good-sized lists, that I've worked with that convert at WAY more than 1-3%.

We're talking double digits in some cases. If you build a list full of high quality leads, are intentional in how you interact with your list and you present your list with high quality, highly targeted offers, your list can (and WILL) convert at way more than 1-3%. Bank on it.

Your turn. Have you heard these myths or others about list-building? Tell me about them in the comments so we can bust every list-building myth out there!

My Proven 4-Step Roadmap To Take You From A 1:1 Service-Based Business to A Passive Income-Based Business

Quick.

Raise your hand high right now if you dream of more automation, easier customer nurturing systems and more passive income in your business.

Good. Now that I have everyone's attention (because let's face it, I've never met anyone in the online space who didn't want at least ONE of those things, and most of you want them all) let's talk about what it takes to get there - and the biggest mistakes people make in trying to get there.

And a big old disclaimer before we go any further: I believe all businesses are unique and all take different paths to where they’re going. Which means what you see below is the typical path I see my clients taking to get from where they are to where they want to be. Which is also the path I'm taking myself.

But know there are a million ways to get there: some entrepreneurs will go fast, some slow. Some will skip a step when it makes sense, others will add mini-steps between these big steps.

Even more of you will stop somewhere along the way because you don't want to take your particular business all the way to step 4.

Those are all totally great options. What I'm sharing below is a framework to think through how to get from 1:1 services to a passive business. How you customize the framework to your individual business and desires is completely up to you.

Why A Roadmap

I developed this roadmap for my clients because while I heard them all saying they wanted to add more automation and passive income into their businesses, they didn't know how to to do it.

And worse, they were trying to copy what they saw the most polished automated marketers doing without realizing the evolution those companies and personalities had to go through in order to systemize their businesses into the automation machines they are today.

Which means my clients were trying to leap straight from a new offering to a polished, sophisticated marketing machine in one swoop. Their strategy looked something like this:

Clients and friends are always asking how to move from their 1:1, service-based business to something that includes more passive income and less trading time for dollars. I put together this simple 4-step roadmap to show them the simple path to make the shift, and now I'm sharing it with you. Click through and I'll walk you through the stages step-by-step.

And, not surprisingly, it wasn't working for them. At all.

Enter the Roadmap. 

After seeing too many of these case studies, and wanting to accelerate my own growth without falling into the same traps my clients were, and not finding anyone else who was sharing this information publicly, I decided to break down the path all the successful online marketers were taking.

The end result of that process is my Client Attraction System Roadmap, your step-by-step guide to gracefully transitioning from 1:1, manual marketing, selling and delivering to systems that effortlessly attract your best clients.

Keep reading to learn how to move your business through the 4 steps, and the tech and resources you need to make them happen.

Clients and friends are always asking how to move from their 1:1, service-based business to something that includes more passive income and less trading time for dollars. I put together this simple 4-step roadmap to show them the simple path to make the shift, and now I'm sharing it with you. Click through and I'll walk you through the stages step-by-step.

Step 1: Realizing You Want More Than 1:1 Work

Most of you enter the Roadmap in Step 1: you're selling, marketing and working in a 1:1 relationship with your clients. This might mean custom graphic design, 1:1 coaching or consulting or freelancing. 

At this stage you're happy to have a business of your own established outside of the confines of the traditional 9-to-5, but you've also realized that the 1:1 model doesn't exactly give you the time and money freedom you've been dreaming of. 

And while you may have started with a 1:1 model for a bunch of reasons (typical ones being that it's the easiest and fastest way to start a business, or because automated selling felt scammy or not genuine) you've come to realize it might be something you're interested in pursuing. 

You've seen others do it authentically, and you've realized you don't want to continue trading your time for dollars.  

This is what Step 1 looks like:

Clients and friends are always asking how to move from their 1:1, service-based business to something that includes more passive income and less trading time for dollars. I put together this simple 4-step roadmap to show them the simple path to make the shift, and now I'm sharing it with you. Click through and I'll walk you through the stages step-by-step.

When you think about moving past Step 1 you have absolutely NO IDEA of how to actually make it happen, and your goal is to simply wrap your head around what an automated marketing and product delivery system might look like for you, and to start implementing baby steps to make it happen.

step 1 action steps:

  • Choose an email provider (see tech recommendations at the end of this post) and start building an email list of your current clients and prospects
  • Pay attention to email lists you’re on, and recognize when you’re in an automated sequence and how you (probably) don’t mind being in that automated sequence because it's providing you value
  • Pay close attention to the clients you're serving 1:1 and take notes on the questions you answer over and over, the common issues they're all struggling with, and the biggest wins and a-ha's they experience while working with you. You'll come back to these notes in later steps to determine the topics you should be addressing in your automated and passive products. 

Step 2: Group Programs and Basic Sales Funnels

As you move from Step 1 to Step 2 you're realizing with certainty that 1:1 work isn't the direction you want to go long term, and that you do have all the skills and knowledge you already need to deliver results for clients in a more efficient and affordable way.

At this stage you're not quite ready to deliver fully automated, passive courses but you are ready to take your 1:1 services and deliver them in a small group setting.

Doing this helps you start to automate your teaching and delivery methods since you have to get everyone in the group working in the same direction at the same time, but since it's live and small group you also have the freedom to switch things up if you want to in order to get better results for your clients.

Step 2 is all about starting to translate what works in your 1:1 relationships into something that can work for more than one person at a time. 

Pro-Tip: If you're on a fast track and learning and implementing quickly, this is the stage you're most likely to skip to move directly from Step 1 to Step 3. 

THIS IS WHAT STEP 2 LOOKS LIKE:

Clients and friends are always asking how to move from their 1:1, service-based business to something that includes more passive income and less trading time for dollars. I put together this simple 4-step roadmap to show them the simple path to make the shift, and now I'm sharing it with you. Click through and I'll walk you through the stages step-by-step.

When you're in Step 2 you're focused on basic automation: welcoming prospects to your world via automated list generation and email campaigns (as opposed to having to individually connect with everyone) and systemizing what's working 1:1 to work in a group setting.

step 2 action steps:

  • Add some basic marketing automations (prime example: an email welcome series when people first subscribe to your list) to help people get to know you without having to talk to you live.
  • Commit to list building – you actively research and create the kinds of freebies/lead magnets that will attract your right kind of customer without a bunch of manual work on your part.
  • Use the notes about what works in your 1:1 relationships (the ones you gathered in Step 1) to create systemized ways to structure and deliver a consistent experience that can deliver the same results when consumed in a group setting as opposed to 1:1.
  • Add in the tech you need to support list building and email auto-responders (see tech recommendations at the end of this post for ideas).

Step 3: Adding Automation and Passive Products

Now that you've perfected the live group experience and can get your group clients the same level of results as your 1:1 clients achieve, it's time to take it a step further and translate your live group experience into a passive course delivery that doesn't require your continual live presence.

You do this the same way you translated your 1:1 service to your group offer: look at what works the best for your group offer and translate it into videos, worksheets and other tools that can be shared passively. 

And, while you're doing that, continue to build and prime your email list so you have a group of eager customers ready to go as soon as you're ready to release your program.

THIS IS WHAT STEP 3 LOOKS LIKE:

Clients and friends are always asking how to move from their 1:1, service-based business to something that includes more passive income and less trading time for dollars. I put together this simple 4-step roadmap to show them the simple path to make the shift, and now I'm sharing it with you. Click through and I'll walk you through the stages step-by-step.

Step 3's all about translating your live group program a step further into a passive course, and building the audience eager and ready to jump into that course.

step 3 action steps:

  • Choose your course topic by taking the information you’ve gathered about what got the best results for your customers (both 1:1 and in your live groups). This will ensure your course topic is both relevant to your audience (because your customers found it relevant enough to implement) AND that it works (because they got results from it).  
  • Re-work that automated email welcome series you've been using to help leads get to know you into a welcome series that now serves 2 purposes: 1) helps people get to know you and what you're all about AND 2) primes them for a passive course purchase. 
  • Actually create your course content and get the tech in place to deliver it. (Not sure how? Check out my tech resources below for my recommended systems to build your course with, and for courses to check out yourself if you need help figuring out how to actually build your course).

Step 4: Full Passive Automation

Before we dive into Step 4, full passive automation, I want to again remind you that you don't HAVE to bring your business all the way to full passive automation. Lots of entrepreneurs I know prefer to stop at Step 3 because while they want some automation built into their businesses, they also prefer to maintain some regular and live connection with clients.

Totally ok. It's all up to you. Always.

But if you do want to take your business fully automated, Step 4 is where you make that happen. In this final step you're focused on building on what you learned in Step 3 when you rolled out your first passive course so you can perfect your automated sales funnel that leads to that course, add additional funnels that feed into the same course, while add additional products to your portfolio.

THIS IS WHAT STEP 4 LOOKS LIKE:

Clients and friends are always asking how to move from their 1:1, service-based business to something that includes more passive income and less trading time for dollars. I put together this simple 4-step roadmap to show them the simple path to make the shift, and now I'm sharing it with you. Click through and I'll walk you through the stages step-by-step.

Ready to make this happen? Here's what Step 4, full automation, looks like.

step 4 action steps:

  • You've perfected that first sales funnel you created in Step 3 for your first course. It converts prospects to customers efficiently and predictably.
  • Because you have one funnel that works you understand how to build other funnels that will work, so you begin adding either additional funnels that feed the same product (maybe with a different opt-in that attracts slightly different, yet still perfect, customers for your same original product) OR you create additional products to offer your current customers. Or maybe a combo of both.
  • Your tech is on point and fully automated and efficient (see below for my best tech recommendations).

Let’s Talk Tech (i.e. Automation Made Easy)

At this point you may be thinking that the steps listed above sound all fine and good, but you have no idea how to make them happen tech-wise. I get it, I totally get it. When I first started helping clients with this and designing my own tech it was overwhelming for me too.

That's why I took the time to compile this list of my favorite tech to help you make your own tech decisions. It'll also help you move (alot) faster than I was able to when I had to start from scratch to figure it all out.

 

Email Systems

Of all the tech systems you need to build your business I easily spend the most time advising clients on which email system to choose. The two I recommend when you're just starting out - and that will easily scale with you - are Active Campaign and ConvertKit. Both are budget friendly when starting out (they start at $9/month and $29/month respectively) and they'll deliver robust automation tools at that price that people are used to paying hundreds of dollars a month for.

Seriously these 2 programs are relatively new to the online entrepreneur space and they are game changers when it comes to the functionality they deliver at their price points. I know it's tempting to start with MailChimp's free account, but it won't scale with you AT ALL and I highly recommend against starting here. You'll end up having to move systems within a month or 2 and that's never fun. Might as well build it right from the beginning.

As for me I currently use Active Campaign but have begun recommending that my 1:1 clients move to ConvertKit, and I'll likely be making the same move in the not-too-distant future.

Active Campaign

ConvertKit

 

A note on other systems:

When it comes to email I hear about the classic systems all the time: MailChimp and AWeber at the beginner end and Ontraport and InfusionSoft at the advanced level. I don't recommend any of these: MailChimp and AWeber haven't stayed up-to-date with functionality to deliver the kind of automation Active Campaign and ConvertKit offer at the low end of the pricing scale, and Ontraport and InfusionSoft also can't compete with Active Campaign and ConvertKit when it comes to growing and scaling. I'm a huge fan of AC and CK and there's absolutely no reason to consider any other program.

 

lead capture/landing page System

If you want to create passive products you need a robust email list. And in order to build that list efficiently you're going to need a lead capture system that works. I personally use - and HIGHLY recommend LeadPages as your lead capture system. If you have to use something else (and seriously, please don't, LeadPages just works and works well) you can consider the other options listed below.

LeadPages

ClickFunnels

Thrive Themes

OptimizePress

 

OPT-INS AND POP-UPS FOR LIST BUILDING

You're going to want a robust opt-in and pop-up system to complement your lead capture software for the most efficient list building. Again I highly recommend using LeadBoxes (which come with your LeadPages subscription) for this. I personally use LeadBoxes and SumoMe (the free version) for my opt-ins and pop-ups. 

LeadBoxes (included with LeadPages)

PopUp Ally from Nathalie Lussier

Bloom (especially if you're using the Divi Wordpress theme from Elegant Themes)

ThriveLeads from Thrive Themes

SumoMe

 

PAYMENT PROCESSORS

You'll need a way to accept payment for your products. I recommend you offer both PayPal and credit card options for this, because research shows consumers of online products are split down the middle between preferring to pay via PayPal or credit card. And more importantly, they're not very flexible when it comes to their preference. Which means if they prefer PayPal and you don't offer it they're actually unlikely to get a credit card out and you'll lose the sale. And vice versa. Offer both and you won't miss out on business. Both are free to use and have similar per-transaction fees.

Stripe

PayPal

 

WEBINAR PLATFORMS

I didn't get into it much in this post (because it's a big topic that's a post - or course - in itself), but webinars are a fantastic way of growing your list and doing so fast. I love webinars and personally use WebinarJam for all of my webinars because it's easy to use and offers robust and easy-to-use features for recording, scheduling and registering your participants. 

Others simply use Google Hangouts which is a free and perfectly acceptable place to start, especially if you have a LeadPages account that you can integrate it with. WebinarAlly from the lovely Nathalie Lussier is a very affordable system to start with if you're a WordPress user.

WebinarJam

Google Hangout

WebinarAlly from Nathalie Lussier

 

COURSE PLATFORMS

If you want to deliver passive courses you'll need a software platform to do so from. I'm a huge fan of Teachable - it's quick to set up and offers the best user experience out there - but it can also be expensive, so if you want something a little friendlier on the budget I recommend Wishlist Member or Zippy Courses to start.

Teachable

Wishlist Member

Zippy Courses

 

Courses on Building Courses

This one's not tech, but I get a ton of questions on how to actually structure and build the course content of your course. For that I recommend David Siteman Garland's Create Awesome Online Courses course. Full disclosure I haven't taken this course myself (I didn't take any courses that specifically covered course building) but have several clients who have and rave about it - and have fantastic results from it - so I feel very comfortable recommending it. 

 

VIDEO RECORDING & EDITING

When you're creating your course you're probably going to find yourself becoming an amateur video editor. These programs will make that as easy as possible on you.

Screenflow (Mac)

Camtasia (PC)

 

VIDEO HOSTING

If you're not using Teachable you'll also need a place to host the course videos your students will view through your course platform. Wistia and Vimeo Pro will both get the job done easily.

Wistia

Vimeo Pro

How To Implement Your Tech

Before I leave you to it I want to offer a final pep talk when it comes to actually implementing your tech: Don’t overthink this. I work with so many entrepreneurs who spend MONTHS researching the best option for all of these needs. And in turn they never end up releasing anything or making any progress on their desire to become more automated.

The absolute best choice you can make when it comes to choosing a solution in any of these categories is to make a choice. 

Every choice you make is changeable down the line if absolutely necessary so don't paralyze your progress and your business by spending too much time on this. Check out my recommendations, make a choice and move on to implementing it. 

The other worst mistake I see entrepreneurs make is always choosing the free or lowest cost option. Listen: you are running a business. I'm not saying the free choice isn't always the best choice (there are plenty of free choices listed in my recommendations above) but free is not always best. If it's not going to deliver your objectives (like MailChimp's free account) don't use it. Put the tech in place that you need to deliver your business. If you don't you won't grow. Bottom line. 

One final note: a few of the links above are affiliate links. That means I get a small commission if you use my link to purchase the software (at no extra cost to you). Consider it a small thank you for pointing you in the right direction. Or, if you're not comfortable with it, simply type the name of the software into your google toolbar and navigate there on your own. 

And now it's your turn. What step do you want to take your business to? What's the next step you're going to take to start making that happen? Tell us about it in the comments!

Price It Right: 5 Steps To Your Best Pricing Strategy

When I started my business I was all. over. the. place. when it came to pricing. Some days I wanted to charge ultra-premium prices, other days I wanted to be accessible to everyone. 

Some days I easily quoted my rates to potential clients, other days I stressed, sweated it out and wanted to cry at my desk before sharing the same rates with another client.

When it came down to it I knew it was because, despite my fancy MBA and experience starting other businesses, I wasn't crystal clear on what I was doing any why I was doing it. And because of that my pricing felt all over the place, and therefore some days it felt good to share, others not-so-much.

When I noticed my clients (you know, the ones I did manage to ask for money in exchange for my services) having the same problem over and over, I developed the 5-step system I'm sharing publicly for the first time here. If you're a new online, service-based entrepreneur, use these 5 steps to develop a pricing strategy of your own. 

It'll save you hours of sweat and stress and beating yourself up. Trust me, I know from first hand experience.

STEP 1: WHAT ARE YOUR INCOME GOALS? 

Before you think about pricing your services I want you to take a minute to think about your own goals, both for your business and for yourself and your family (or whatever you may want to be financing with this business of yours. 

I include this step because if you don’t know where you’re trying to go with your business, and what you need to get there, your pricing is bound to become an exercise in winging it.

And when your pricing is no better than a random guess your income will be the same. No bueno.

To set your income goal, consider what you want for both yourself and your business. And notice I said WANT - not need. That’s an important distinction. When you set an income goal you’re not determining the bare minimum you need to survive. You’re determining what you want to have for the business and lifestyle of your dreams.  

First step to getting there: Think about what you want personally over the next year and list those things out. Be specific.

Start by listing your personal monthly obligations (the need) and then add budgets for the other things you want. Think about food, clothing, entertainment, travel and housing desires. You’ll have more but those are the popular ones that’ll get your brain moving. Write all of these down, and once you’re done add them up.

Now do the same for your business. Start with the monthly obligations your business has today (taxes, advertising, web hosting, software, etc).

Then think about where you want to be in a year. What kinds of large investments do you want to make this year? Who do you want to hire? Would you like to pump up your advertising budget? Write all of it down. 

You now have a personal and business expense budget for the year.  #Yay!

Buuuttt....What does that actually mean for your pricing? It means we can start breaking that final number (your combined personal and business expenses) down to an hourly rate you need to average in your client work. 

How do you do that?

Here’s an example: Let’s say your combined personal and business budget is $100,000. For simplicity sake we’ll also assume that budget is spread evenly across the next year, which means your monthly budget (or income goal) is $100,000/12, or $8,333 per month. 

Now that you know the monthly amount you need, take it one step further to find your ideal hourly rate. 

How? Divide the monthly income goal by the number of hours you want to work with clients each month. This is an individual number that’s different for everyone, but I’d encourage you to not estimate more than 20 hours a week of client work (and even that’s high). Remember this is only the time you’re working directly on client work. It doesn’t account for everything else you need to do each week to run your business: marketing and promotion, administrative work, etc.  

Here’s an example: Let’s say you want to work with clients only 10 hours a week. That’s 40 hours a month. When you divide that into the $8,333 monthly income goal, you get a $208/hour effective hourly rate. 

Boom.

Now you know the number of client hours you need to book (client hours meaning either 1:1 clients or time spent in group programs) plus the hourly rate your program prices need to accommodate in order to reach your income goal.

Pro-Tip: This hourly rate is NOT your price. It’s just a number you need to keep in mind to make sure your needs are being met each month. Price, however, is about so much more than simply meeting your needs, and the last thing you want to do is price based on cost, so you’ll simply use this number as a reality check when we finalize things later on but not as a final price.

OK, that was a lot of math. Thanks for sticking with me. Now we move on to more fun parts of pricing: Determining your value and your positioning!  

STEP 2: DETERMINE YOUR VALUE & TELL YOUR STORY

We did the math we did in Step 1 to give you a sense of what you want and what it’ll take to get there, but as I said earlier it’s not how you actually set your prices. 

Why? Because you should always set price as a function of the VALUE you’re providing, not as a function of what it costs you to provide that value (or as a function of how much money you want to make). 

Which, of course, begs the question: How do you define that value?

Answer: By determining the BENEFITS your clients receive from working with you. 

So how to do you figure out what do your clients gain from working with you?  

You can (and should) approach this question from both a money and not-money angle (haha super professional categories, huh?)  

First the numbers (the money): What are your clients going to gain or save monetarily in the next 12 months from working with you? 

Here's an example: Business coaches - How much additional income do your clients earn in the year after working with you? Health and Wellness Coaches - how much do your clients save in a year of medical costs after working with you? Designers - how much more money are your clients going to pull in by having a professional presence online instead of the DIY one they’re rolling with now?

You probably won’t have exact figures here but you should be able to make some pretty good guesses. Is their income going to double? Triple? 4x or more? Those are important things to know.

Then tackle the intangibles. What is the value of a dream come true? Of restored health? Of a thriving business or relationship?  

Jot down some best guesses. We’ll come back to them later.

STEP 3: POSITIONING

Now that you’ve considered the value your clients get from working with you, it’s time to consider how you’re positioned in the market. 

What do I mean by positioning? This is the story you’re telling the market about yourself, your brand, what you do for your clients and how you’re different from everyone else in the market. 

Do you want to be known as high-end or accessible? Exclusive or for the masses? Advanced or beginner? Trendy or tried-and-true?

There are no right or wrong answers here, just what feels right to you.

Advanced Pro Tip: I know we’re told over and over that competition doesn’t exist and that your right people will find you, and that’s true if you’re positioned correctly and if you’re telling the correct story.

When you’re not doing those 2 things you risk confusing those perfect customers, and if they’re confused they’ll never find you.

This section is not meant to dredge up comparisonitis or direct competition. It’s meant to point out that how consumers perceive your brand’s value is at least partially influenced by the other messages they see all day long, and how you in turn position yourself when compared to those messages.  

When you think about differentiation I don’t want you to think about your direct competition. Instead I want you to think about which brands or other service providers you’d want your brand lined up with.

Who would you want to be mentioned in the same sentence with? What is it about her brand and offerings that makes you want to be lined up with her? What do her customers expect to pay? What would they think of your brand if your prices were significantly higher or lower than the comparison brands? 

What would you charge if your brand was in perfect alignment with these complimentary brands? What story would you be telling your customers? What value - both tangible and intangible - would you be providing?

Write down your answers to these questions and anything else that comes up around positioning.

STEP 4: CIRCLE BACK TO PRICES

Now that we’ve taken a look at the 3 big considerations when it comes to pricing - cost, value and positioning - it’s time to see how they line up.

If you were going to price based only on your income goals in step 1 (which you SHOULD NOT do) what would your offering cost? 

If you were going to price solely based on the value you generate for a client in a year, what would your offering cost? (HINT: Because you want to offer considerably more value than your program costs, I always suggest this price be 10-20% of the value amount you came up with in Step 2).  

If you were going to price solely based on meeting market expectation for the complimentary brands your customers associate with, what would your offering cost? 

Now take a look at how your 3 prices line up against each other. Are they similar or wildly different? 

1. Value and Differentiation prices are similar and higher than Income price: This is the ideal situation. If the price you wrote down for the value you provide matches well with customer expectation, and is higher than your income goal, that is an indication that you’re close to your ideal price. Let it sit for a day or 2, see how it feels and commit. You’re on the right track. 

2. Differentiation price is higher than Value and Income prices. When your Differentiation price is higher than your Value and Income prices it usually indicates that you’re newer in business and still gaining confidence and knowledge in your programs and earning potential. 

That is a perfectly fine stage to be at, as long as you recognize that it’s a growth stage and not somewhere you want to stay forever. Keep working towards upgrading your business so its value does line up with the brands you want to be associated with, and you’ll quickly see the numbers come into line with each other. 

3. Differentiation and Value prices are lower than Income prices. This is a sign that your business as currently designed is not sustainable. What it doesn’t mean is that you should cut your income goal. Not at all. 

What it does mean is that you need to reevaluate your offers and look for ways to drive up the Value and Differentiation numbers to find an offering that is of sufficient value to meet your Income goals. 

STEP 5: COME UP WITH A PRICING STRATEGY TO GET YOU INTO ALIGNMENT

How’d you feel about the numbers you listed in step 4? Were your Value and Differentiation prices too close to your Income price for comfort? Did your Differentiation price feel way out of reach? Did you have trouble articulating the value you provide your clients in order to reach a Value price that makes YOU feel good? 

First know that it’s ok if your prices are out of alignment. To be honest, most are at first. 

The first step of fixing anything is the knowledge that it needs fixing, so pat yourself on the back for going through this exercise and realizing where you have some work to do! Honestly, it puts you ahead of 97% of solopreneurs out there. 

The good news: now you have a starting point to work from. 

To start, write down a few ideas of how you can start getting into alignment. 

Do you need to upgrade something in your business in order to line up with your ideal brands and justify your Differentiation price? 

Do you need to add something to your program in order to up the Value price associated with the program? 

Do you need to rethink how many clients you work with or how you work in order to accommodate your Income goal? 

Pro Tip: You don’t need to fix it all in one fell swoop. 

A large component of a successful pricing strategy is making sure it’s in alignment with your confidence and your mindset, so it’s ok to choose a price that’s lower than your ideal Differentiation price for now if that’s where you’re at. 

BUT put limits on yourself and work your way up methodically. If you’re a service provider commit to raising your prices every 3 customers. This’ll give you the bandwidth to get comfortable and realize you know exactly what you’re doing, but also not so much time that you’re under-earning forever.

Remember you’re telling a story with your pricing, and you don’t want your mindset to slow that story down. 

Keeping your prices lower than they should be for longer than they have to be will start to be noticed in the market, and people will start to doubt you. Mindset is real. Using it as a crutch to consistently undervalue your services is not.

Questions? Story about raising rates (and the world not ending?) Share them in the comments below - I'd love to hear them! 

The 8 Not-So-Obvious Things I Did Last Year To Grow My New Business

I often see and hear new online business owners and bloggers asking (and am asked myself) how to grow their business: what exact steps to take and in what order. 

And while there are lots of tangible things you should do (hint: Build your list! Know who your customer is! Be consistent.) there are lots of not-so-tangible, not so immediately obvious things that subtly happen over the course of growing a business that are just as - if not more - important than the obvious tangible stuff.

Some people might call it mindset stuff. Others might call it leaning into your business and naturally making the shift from freelancer to business owner. 

I call it the not-so-obvious stuff (yep, super scientific name:)

I didn’t even realize I’d done many of these things until I sat back this weekend and really reviewed my 2015 (I know, a month late, but whose counting, really?) And since they’re not-so-obvious, yet clearly what grew my business the most, I wanted to share them here. 

So without further ado, the 8 not-so-obvious things that grew my business last year:

1. I Got Focused

If you know me at all you know I’m all about focus. Focus for projects, focus for growth, focus for everything. I love it. 

Except I realized I wasn’t *really* focused fully on my business. When I was working on my business I was focused on one project at a time, but I was allowing my focus *outside* of my core business wander. 

I took a bunch of projects that I called “scholarship” projects because they were with previous clients and previous industries that I knew well and were easy for me to take on. I called them scholarship projects because I thought they’d allow me to grow this business slow and steady without income pressure. 

Instead they proved massively distracting and my business wasn’t moving forward. At all. So about halfway through the year I quit taking on any scholarship projects and my business started to really fly. I don’t think that’s a coincidence. 

2. I Got Intentional

I left my last company about 18 months ago now in deep, deep burnout (that burnout - and what I learned recovering from it - is a whole other blog post I’ll share soon). That means when last year started I was only about 6 months out of running that company and still deep into recovery.

And what that meant was committing to a schedule seemed totally out of the question. There were days I barely wanted to get out of bed, and other days I just wanted to spend in the mountains around my Colorado home without any hint of responsibility.

While I knew I still needed that time, I also knew I wouldn’t get anywhere if I continued to keep things completely loose.  So I decided to start easing back into a regular schedule. Instead of jumping in and making some kind of unrealistic declaration I knew I’d never keep (New Year’s resolutions anyone?!?!) I made baby (and we’re talking baby) step commitments.

The first week I said I’d spend at least an hour each day on my biz. That wasn’t more than I’d been spending before, I’d just been chunking it all into days I felt like working, but making that daily commitment, even a really small one that didn’t get in the way of anything else I wanted to do each day, helped ease me back into paying attention each day.

After a few weeks of that I committed to 90 minutes. Then 2 hours, 4 hours... you get the idea. I made micro-commitments and consistently upped them. And it worked. By the end of the year I was happily and easily putting in 8+ hours a day and felt totally in flow. And I doubt that would’ve ever happened (or happened as easily as it did) if I hadn’t started small. Really small.

3. I Set Real Goals (& Tracked Them)

At the beginning of last year setting goal felt *almost* as scary as setting time commitments. When thinking about goals all my mind really heard was the time + effort commitment (hello again burnout! You’re a b$tch.) so it was way too overwhelming to go there.

So again I started small. First I started tracking my income - all of it - including random free cups of coffee, anything that represented value. I didn’t set a goal against it, and I didn’t track my expenses. My only goal was to remember how much fun it was to earn money and earn value. 

Once the income tracking felt good + easy + not at all stressful I started adding income goals against it. Modest at first, because I wanted to know I’d make my goal and get some positive reinforcement for the goal setting. Then I started to set higher goals, and finally I started to track my expenses and take proper note of my P&L (profit and loss) each month. 

Again, just like micro steps to a schedule, micro steps to income tracking and goals made it doable and make it successful.  

4. I Surrounded Myself With Biz Buddies

This one wasn’t a conscious effort on my part (although it should’ve been, so if you’re reading this make it one of yours!) but I came out of last year with some cherished business buddies and wow did they make a difference.

Building an online business from home can be a lonely endeavor. Your real life friends and family may not understand exactly what it is you’re building, and they definitely won’t be able to relate to the norms and challenges in the industry.

That means the people who are working towards something similar will become your best day in and day out support team. They’ll cheer you on, offer much-needed perspective and advice that’s on point. 

Last year I can thank my biz buddies for suggesting the baby step schedule commitments I talked about above, for helping me flesh out my brand when I had no idea which way was up and for telling me on a daily basis that I had what it took to make this thing happen. I can’t thank them enough for it.

5. I Found My Sweet Spot Between Hustle & Self-Care 

One of my biggest struggles last year was finding (and accepting) where I naturally land on the spectrum between hustle and self-care. If I haven’t mentioned it enough already I was REALLY burned out at the beginning of last year. Which means I was ALL ABOUT the extreme self-care. 

But here’s the thing: when feeling good I’m kind of intense. Actually a lot intense. I like the hustle: I like to feel like I’m on the edge of performing my best. I’d gone way over that edge at my last company, and that didn’t work. But when I went way over the hustle edge I sling shot all the way to the other extreme of massive self care, all day everyday. And you know what? That felt just as bad. At least to me.

So when I finally accepted that I like to work hard, that I like a little hustle and adrenaline in my life, things started falling into place for me. I learned enough from going over the edge that I still incorporate *way more* self-care into my daily life than I ever have before, which is a really good thing, but I also don’t overdo the self-care, because when I do that I find I start annoying myself with what feels like a bunch of excuses.

Finding the balance was important to me. What’s your balance?

6. I Invested in Tech

This one surprised me when I sat down and looked at my year because I’m a huge tech advocate and would never consider myself as someone who *wasn’t* always investing in tech. Until I realized I wasn’t.

Here’s what was happening: because I wasn’t being overly intentional about my business at the beginning of the year it was easy to look at tech I knew I needed and say “I’ll grab that next week.” Well we all know how that story ends: the next week I’d put it off another week, then another and another until a few months had passed and I still hadn’t invested in anything. No bueno.

In the second half of the year I made a list of the tech I wanted with all associated costs and started picking things off one by one. Not surprisinly the more I invested in tech, the more efficient and easy things became, which means the more interested I became in working (because it was easier to work) and the more clients appeared.

Stop putting off your tech investments. Get ‘em done and they’ll pay for themselves. Quickly.

7. I Stopped Trying To Apply Everything I Saw Going On In The Online Space

This was another interesting one for me. My business has 2 branches: I help established online entrepreneurs (think 200-500k annual revenue) scale up to 7 figures and beyond, and I help new online business owners build their business on a solid enough foundation so they can reach that scaling threshold.

The first branch of that business - the scaling part - requires me to be very up-to-date on all the latest and greatest in the online business world. Which means I consume a ton of content and listen to a ton of industry people. Which is fine - it’s for a purpose, and me paying attention to those things improves the outcomes my clients achieve by a lot. Which means I’ll keep doing it.

What I stopped doing, however, was trying to apply everything I was learning in my own business. This is a typical problem for new entrepreneurs - you buy all the courses, listen to everyone, try to apply everything. Except I thought I didn’t count because I was listening and consuming for my clients. Wrong. Because when I took a step back I realized I was letting it affect what I was doing in my business, and when I did that things got really confusing and disjointed. 

I couldn’t go cold turkey on info like some people do (since I did need to know the info for my higher-level clients) but I DID make the conscious decision to compartmentalize all the info I took in as client-only information, and stopped letting it seep into my own business plans. 

8. I Tried New Things (& Stayed Disconnected From The Outcome)

The last thing I did to move my business forward last year was to get back to my entrepreneurial, experimental roots and start trying new things without being connected to the outcome.

What do I mean? Before I had this business I was in tech start-ups, and in tech there’s constant experimenting going on, and no one bats an eye if an experiment works or doesn’t work. It’s just information to build on.

But when I had my own company all of a sudden those experiements started feeling really personal in nature - they were judgments against ME, not pieces of information about how to build my business. 

To move past that I brought my mindset back to my tech roots and made a conscious effort to disconnect me from what was (or wasn’t) working to build my business. When I did that I was able to start experiementing again with a child’s mind and find the list building, marketing, outreach strategies that worked while letting go of the ones that didn’t without turning them into some kind of judgment of my abilities. Needless to say that helped. A lot.

That’s what I did in 2015 to building my business. How about you? Did you do any of these same things? Maybe something differently? Can you experiment with any of these in 2016? Let me know in the comments!