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Show Notes

Dream of scaling your business to seven figures, but find yourself trapped in a web of mistakes? Don’t worry, you’re not alone! We’ve got the insights to help you navigate this treacherous path. Join me in this episode where we explore the biggest blunders hindering your business from hitting that 7-figure mark. No more stagnating growth or frustrating setbacks. Time to break free and reach the next level of success.

Want to Work with Jennifer and her Virtual Marketing Experts Team?

Are you a coach, consultant, or online course creator who are looking to grow your business, increase your income, and scale your impact? Connect with me at YourMarketingMatchmaker.com I look forward to hearing from you.

Jennifer:

Hey there, welcome back to Marketing Matchmaker, I hope you are having a fantastic week and honestly enjoying your summer, maybe you’ve been taking some time off, or just diving in and continuing to grow and scale your business, I’m gonna hope for both honestly, I think we all need that time away to really reset and recenter in our business. And it’s definitely a great time to focus on growing and scaling, even if you think your business is doesn’t get clients during the summer. Because believe me, I’ve said that in my own business before and it’s just not true. We get clients all the time in the summer, and summertime can be a really great time to refocus on different areas of your business if you are a little slower.

Today, we’re going to jump in to scaling to seven figures. I know a lot of us dream about scaling our businesses to seven figures and beyond. And oftentimes we end up caught in just a web of mistakes. So if you’re struggling right now to get to that magical seven figure mark, realize you’re not alone. And this episode, I’m going to give you some insights to help you navigate that path to seven figures. So buckle up, because we’re going to actually focus on some of the biggest mistakes I see business owners make when they’re trying to scale their business.

Let’s be honest, scaling your business can be challenging it sometimes it requires knowledge, it requires strategy, it definitely requires patience, it requires consistency, and really an overall drive and will to do it. And it’s not just about working hard. Sometimes it’s about working smart. And sometimes despite our best efforts, we find our growth not really where we want it to be. Sometimes we feel like we’re taking two steps forward only to then take one step back. We’re kind of in a constant state of dancing with this ever elusive scaling model.

And I get it.

It can be super frustrating.

I’ve been there.

And sometimes it can even be demotivating.

However, the good news is that most of the time, we’re the problem. We’re the ones keeping ourselves back from reaching that next level of success. So today, I want to dive into some of the common mistakes I see online business owners making when they’re trying to scale their business to that elusive seven figures that I think a lot of us are trying to hit.

So mistake number one is it’s a lack of focus. And I totally get this. We were as entrepreneurs, we were so many hats in our business, right, we’re oftentimes the idea creator, we’re definitely the the provider, we want to be able to give our clients everything that they want and need. We are sometimes the bookkeeper and the email strategist and the pretty much everything that goes into your business, you are all of those pieces.

And a lot of times we have too many goals and too many ideas. I actually had a conversation with my own business coach this last week, because I was falling into that trap of looking too far out. I wanted to do too many things in my business. And the reality was, as she had to draw me back into the here and now of this is what you want for the next six months, 12 months, let’s focus on the now the future will come. But if we can get the now set up in a way that’s a good strong foundation, the future comes so much easier. So when we start to get distracted by all of those shiny objects in our business, whether it’s client work, or whether it’s, you know, our own dreams and desires, it is a really good idea to bring ourselves back into focus. Set aside some time I generally do it once a week where I set aside time just for my business, I do nothing else but focus on that CEO time to help me establish what it is that needs to be done in the business itself. Focusing on one step at a time and on a really strong foundation really helps making that leap to seven figures so much easier.

Mistake number two is not having a clear strategy. Okay, so I talk about strategy a lot in marketing strategy is essential in every part of your business. It’s a journey that requires careful planning and strategic execution in order to really get to those seven figures. So without an overall comprehensive strategy that includes your all of the fundamentals of your business, your numbers, your marketing your employees, if you’re going to have them, your customer journey, all of those key pieces need to have a comprehensive strategy that runs throughout them.

Without that strategy, you’re really likely to try to navigate almost uncharted seas, it’s like going out into a boat with no compass and getting lost at sea. It really is essential to have well defined resources and goals so that you know where you’re taking your business.

To effectively scale your business, it’s essential to have a clear roadmap, that accounts for the different elements of your growth. So things like I said, your foundation, who your ideal client is, what it is that you provide them how it is, you’re going to take them to the next level, because I will tell you this right now, it is so much easier to scale to seven figures, when you’re not trying to constantly bring in new clients, you’re looking to take them to the next level of their business.

So if you can have that Value Ladder that does that, within your strategy, it will make your life so much easier. I actually had a client come in, in this position, they were, you know, at $30,000 a month, I think ish in revenue. And they really wanted to scale to that $100,000 a month at that million dollar mark. So the first thing we did was really sit down and look at their overall value ladder, because they were constantly bringing in new people, which was great, but their initial product is only $2,000. So if you’re trying to scale your business with a $2,000 model, that’s a lot of sales a month.

However, when you look at that, and you go okay, after they’re done with this program, what’s next in their business, what’s the next thing that they need, you’re able to create this ascension, this value ladder in your business that will help take them to the next level of their business, and also help you to create more income more revenue in your business that helps divert them into that seven figure mark.

So just really having that clear strategy of how you’re going to reach that seven figure mark, and every piece along the way will help you to make it easier so that it feels less like a struggle and more like going for a sale driving down the road. Because you have that compass and that roadmap to get you there.

Number three is a lack of systems and automations. Okay, so here’s the thing. As online business owners, when we start to scale our business, we have to have systems in place that will allow for the scaling. If we are not, if we don’t have those systems in place, we’re going to struggle, because it’s going to be really easy to lose pieces of the business itself. Having a really clear system for your clients to journey through your business.

Having automations that bring your leads, warm them up and turn them into buyers. Those are going to make your life so much simpler. Without systems and processes in place, we can really become inefficient and trying to do all of the things manually will lead to burnout. So really looking at the structure of your business and how you want to scale it will help you to create systems and processes and automations to do just that.

Things like SOPs or funnels will help you to scale to those next levels. If you don’t have either of those in place or if you’re not sure what they are. Now is the time to start looking into that kind of information.

Mistake number four, over reliance on one marketing strategy. Here’s the thing. Marketing is essential in business it is essential to grow about your business. And yet, there comes a time in every business owner where one marketing strategy is not effective, right? We try to do the one thing and it gets us to a certain point. But just like, if you’ve ever heard that saying, a new level new devil, there’s going to be a tipping point in your business where you need that next strategy, that next piece. And sometimes it’s about bringing in people from multiple places.

So maybe you started out your business as organic, you know, on Instagram, or organic on Tik Tok and you’ve gotten to a point where you have a really large audience, but you’re not able to get beyond that tipping point of whatever your goal is. That may be the time to bring in ads. Or if you’ve created a six figure business, all through networking, and all through word of mouth marketing. And you’re not able to get to that mid six figures or seven figure point, it may be time to really start looking at organic traffic on social media or pay traffic or how are you going to reach a larger audience. Because at some point, we look at our audience and realize that it’s not growing. And if it’s not, if your audiences isn’t growing, if your list isn’t continually growing, your business is actually shrinking, because you’re shrinking the number of people you can sell to, eventually you’re going to tap out that audience.

So make sure that when you start looking at the scaling model, that you are looking at the different marketing strategies, is there more than one that you want to implement to take you to that next level? Is it time to look at a new platform? Is it time to look at a new funnel? Is it time to look at a new networking group, whatever that might be for you. Having more than one marketing strategy is really going to help you create consistency and scalability in your business.

Mistake number five, under valuing your offerings, and I think this is one of the most common mistakes I see business owners make, especially when they come to me, oftentimes they’re underpricing their product, service or solution. Here’s the reality. If you want to scale you need you get to be charging for the value you provide. Which may or may not be on a line with your competition. If you are undervaluing what it is that you’re selling, you’re not going to necessarily attract the people that want to buy it. Right.

If we keep in mind that people buy based off of value of the value, they’re going to the perceived value that they’re going to receive. We want to make sure that our pricing is in line with that valuation. Under valuing your work is really one of the biggest biggest pitfalls that can help that can really hold you back from reaching those seven figures. Be brave enough to price your services according to the true value they deliver.

Make sure when you do that, that you’re highlighting the results and the tangible benefits that come with working with you and investing in your product service or solution.

Remember that people will pay for a solution if it offers, if it solves. If that offer solves their problem and save some time saves them money gives them a solution to what it is that they need. Focus on really conveying a clear message that shows your potential customers why it’s worth the money you’re charging.

Mistake number six, the fear of outsourcing, I get it outsourcing can be a scary concept. And when we first hit that six figures, like I said, we’re usually wearing all of the hats. Trusting someone else to run your business is not always easy, and it’s essential to actually growing your business. The first thing that we do in this outsourcing stage is really to look at what is it that you really hate doing. I always say that to people, because there are pieces of our business that we hate doing whether it’s social media posting, or it’s our books, or it’s our email, or it’s our calendar, whatever that thing is, that you hate the most, find someone that can do it for you for less time than it takes you to do it, and also takes it off of your plate.

If you’re spending an hour a day, in your email, for instance, and you want that hour back, have someone else monitoring your emails, there’s a million ways to outsource. If the idea of building out your own funnel is petrifying to you find someone to do that for you, rather than holding yourself back, because you either don’t know how, or you’re scared of it, or it’s just exhausting because you hate doing it, find somebody that loves it, and hire them to help you.

Outsourcing can really, really help to scale a business rapidly because it gives the business owner that bandwidth back to really look at what it is neat that needs to be done in their business rather than trying to wear all of the hats in the business.

And the last mistake we’re diving into today, because of course, this is Marketing Matchmaker, and I could not ignore the power of digital marketing. Now, here’s the thing, a lot of people ignore digital marketing. They start their business through word of mouth marketing, and network marketing. And they may post on social media on a semi regular basis.

But what they lack to do and what really scares allowed a lot of them is investing in things like paid traffic, and funnels and automations and ways that will allow them to be everywhere without actually being everywhere. Ignoring digital marketing can really stagnate your business. Because there comes a time when you need a wider audience, when you are not reaching enough people. And you really need to grow your email list, you really need to launch your newest course you need, whatever that thing is that you’re doing in your business, you need a bigger audience to do it to.

That’s where digital marketing comm comes in so strongly, especially with funnels and paid traffic, you’re able to reach an audience that you probably would have never come in contact with prior to running ads.

This can really help you to scale your business, it can help you to create a consistent source and a consistent flow of revenue. Now, I’m not going to say that it happens overnight, because most often it does not I do not care. Whatever every guru on the planet has told you about being able to make a million dollars in just 30 days 99% of the time, that does not happen. I want you to really be aware of setting your expectations when it comes to this digital marketing, whether you’re trying to DIY it, or whether you’re actually going to outsource it and hire someone to help you.

The reality is, is that you need to have realistic expectations around the speed at which you’re going to hit that seven figure revenue. Because it’s going to cost it’s going to require an investment in order to scale your business. If you’re not ready to make that investment, then it’s going to take an investment of your time. It’s time or money. That’s all we have in this world to add to our business time or money. So you either get to invest your own time and learn how to DIY or you get to invest some money and learn how to hire someone to do it effectively for you. Any way you do it, digital marketing is going to help you create a rapid expansion of your business. scaling your business can be challenging, and it can be incredibly rewarding.

It’s really important that we avoid trying to just work hard, and instead we work smart. So by focusing on avoiding these mistakes in today’s episode, you can really help to scale your business to that next level. Just remember, Rome wasn’t built in a day and neither will your business. Can you reach seven figures in your business? Absolutely. And it’s going to require that you stay focused that you stay consistent and that you keep Going even if it’s just one step at a time. If you’re ready to step into digital marketing, if you’re ready to take that next step towards a seven figure business, and you’re ready to grow your business, increase your revenue and scale your impact, head over to yourmarketingmatchmaker.com and sign up for a free strategy session. Let’s dive into how we might be able to actually do that for you.

Outro: Thank you for listening to the marketing matchmaker podcast.
If you enjoyed this episode, I would love to hear your feedback. Please head over to Apple iTunes and leave a review so we can hear from you. And if you are a coach, consultant or online course creator who are looking to grow your business, increase your income and scale your impact. And that put me at your marketing matchmaker.com I look forward to hearing from you.