Things You’ll Learn in this Episode of Doing it Online:
- How to get crystal clear on what you should be doing to grow your biz
- My simple 3 step process that I use when I am feeling overwhelmed, to help me find what is REALLY important to focus on,
- Join my FREE 3-Day offer overhaul challenge – Sold-Out Success starting October 12th. Sign up at kateschallenge.com
If you’ve been wondering what you should focus on FIRST to grow your biz…because I know it can be super overwhelming…I have the answer for you!
I’m going to put it out there and say that this might sound scarily familiar to you…
You started your year excited, you have your to-do list, you have your plan, you know what you’re focusing on..
But then you read a blog post about how someone swears by challenges to grow their business…
And then there’s an Instagram story about how you need a self-liquidating offer…
And another person says you NEED to learn Pinterest.. and another Google…
YOU JUST CAN’T KEEP UP!
Then your plans go out the window, your to do list gets out of control, and pretty soon it’s the end of the year and you’re exhausted but you don’t feel like you got anything done.
Cue the overwhelm and confusion!
And to top it off… your biz hasn’t really grown much, and you just wish you knew which one of all the 100s of things people keep saying you SHOULD be doing to grow your business, was actually THE THING to make a difference.
Please don’t feel bad if it does! This happens to everyone, and today I’m going to share a really simple process I use when I am feeling overwhelmed, to help me find what is REALLY important to focus on.
This is going to make it crystal clear exactly what you should be doing, your priority and what you should be focusing on to make the biggest impact in YOUR business.
And the rest…you can forget about, because it’s just white noise.
There are 3 steps to this process – so you know what to focus on first to grow your biz.
Are you ready?
Step 1 to grow your biz: Know What Type of Business You Want to Build
First of all, you have to actually KNOW what type of business you really want to build.
And it’s not just one that makes lots of money (that’s a given), but you need to actually sit down and visualise what you want from your business.
You don’t need to know HOW you’re going to get what you want…but you need to know what it is you WANT.
So imagine, it’s 10 years from now, your business has really taken off and is a HUGE success and you wake up every day excited and motivated.
- What does that look like?
- What kind of work do you do, and what DON’T you do?
- Who do you work with, who are you clients, and HOW do you work with them?
- Do you have a team? And office? Where do you work from?
- How many days a week do you work?
It might sound silly to get this specific…but you need to get clear on this!
I actually make ALL My clients do a deeper version of this, because it’s so important.
To be able to actually know what you need to do, to get you where you want to go… you have to know where that is!!
And now you know where you are going, some of those bright shiny ideas should automatically be eliminated, because they do not fit with your goals.
For example I HATE doing sales calls! I never want to have to do them, so I’ve deliberately set up my business and created products and funnels that mean I don’t need to do them.
The same with launching, I prefer to only do that a couple of times a year, I find it drains my energy and takes me away from what I really love, which is working with my clients and playing with and testing new funnels and strategies for them.
So that’s step one – Knowing where you want to go.
Step 2 to grow your biz: Know Where You Are Right Now
There are 5 phases of a business growth cycle, and each has a specific thing you need to focus on to grow your business.
Phase 1: The Product Creation and Testing Phase
To move from this phase you need to have created something people want to buy… and have confirmed that by selling it multiple times.
Which is a great segway actually…
And if your offer isn’t selling as well as you’d like right now I’m actually running a free 3-day challenge starting on October 12th, called the Sold Out Success challenge. Its a 3-day live offer overhaul to take your course, program or other online offer from sort of selling to sold out success.
Make sure you grab your seat, it’s free at kateschallenge.com
Phase 2: Creating and Growing Reliable Revenue
Once you know you have an offer that sells, your next focus is creating and growing reliable revenue. Yes increasing sales, but doing it in a way that means you feel safe to plan, and hire, and invest.
While you’ll always be looking at ways to make more money for your business, you will at the end of this stage have the systems and plans in place that you’re no longer worried about making “enough” money.
Phase 3: Invest in Building Your Audience
This is where you go ALL IN on building your audience. Yes, you will have been doing some audience building before then, but it hasn’t been the main focus, making money was.
But now money is more certain, and you know how to sell your offers, NOW is the phase to go all in on growing your audience.
From as many different sources as possible, including yes, paid traffic like Facebook ads etc..
Phase 4: Systems & Team
Systems and teams so you can keep up with all this growth without burning out! Setting them up so that your business becomes this little machine.
Phase 5: Stepping Up To Be The CEO
Now it’s time to step up and be the CEO and remove yourself from the day-to-day running of the business (as much as possible), freeing you up to do it all again!
So those are the 5 phases of growing a product or online offer.
And while you’ll always be doing a little of multiple phases…
Your main focus should be tasks that help you complete the phase you’re in, so you can move to the next one. Because that is how you grow. If you don’t tick off a phase, you’ll stay stuck there until you do!
Step 3 to grow your biz: Focus on Building Assets Mindset Shift
The final step is a slight mindset shift on how you look at all the things on your to-do list.
And it’s a really simple shift.
So flip the script from looking for short term solutions to short term problems. Instead focus on BUILDING ASSETS that will pay off, and add value to your business and life for the LONG TERM.
Something that will make you sales, save you time, improve your clients experience again and again.
Not just something that may possibly add some extra sales next week. Things that are going to have a return on investment over and over again.Create assets NOT ticks in a boxClick To Tweet
And how do you know when something is an asset?
Well, it needs to pass a couple of quick tests.
- In 2 years time, will it still be adding value to your business?
- Is there return on investment, aka for the effort you put in, over time, will you get back more than you put in (both time and money wise?)
- Can it be mostly systemised or automated (so you don’t have to be the one physically delivering or creating it all the time?)
If it ticks these three boxes then YES it is an asset.
So of course an obvious choice here when you’re thinking about assets is adding a funnel! You know I’m a bit of a funnel fanatic, and I wholeheartedly believe (because I’ve seen it with hundreds of clients), that everyone needs to have that asset of a funnel in their business as soon as possible.
You really can’t get to that next phase of business without it!
And as it only takes 4 weeks or so to create, the return on investment is huge.
But it’s not just funnels that are assets (I’m not completely biased here!).
Examples of other assets:
- Creating a rinse and repeat launch – one that you’ve run and perfected multiple times, that has predictable results, that you have systemised and documented so each time you run it gets easier and easier.
- Building an email list or other platform
In fact most marketing strategies CAN be assets, but the real difference is taking the time to:
- Make sure it’s fit for where your business is going
- Make sure that the asset you’re prioritising building is one that is right for the stage of business you’re in.
- Simply making that shift to treating these strategies as assets and not “quick fix tricks” you will treat them differently. You’ll focus on taking the time to master them, test and tweak them, and to systemise them as well.
Seriously, jumping from a shiny new marketing strategy..kinda half doing it…finding it didn’t work that well (because it wasn’t the right strategy for your business, your phase or you just plain haven’t taken the time to actually master or systematise it)…
Then moving to the next shiny marketing strategy…
That is the SLOWEST way to grow your business.
Switching over to creating ONE ASSET for your business every few months instead is actually a much, much quicker way to get where you’re going. It’ll just feel a little slower at the start.
And a more stable and enjoyable one too.
Now you’ve got your hands on my simple 3 step process to figure out what your plan is to grow your biz.
Just sit down, pick that first asset and get to doing it!!
And don’t forget to sign up to the SOLD-OUT SUCCESS 3 Day Offer Overhaul Challenge at kateschallenge.com