Whether you're striving for $5K or $50K a month, being successful in business is simple math.
However, we become so obsessed with building six-figure businesses, that we get overwhelmed with self-doubt. We keep failing because we're running before we know how to crawl. We want to say that we have a six-figure business, but we've been avoiding the hard tedious work to create a six-figure business. The point is, if we're striving for five-figure launches in months, and haven't figured out how to make $500 a week – there's a disconnect.
So many entrepreneurs don't know their profit margins, cost of goods sold, or their best-performing channels (Instagram, Youtube, Website etc.), which are crucial to making good marketing decisions. Once I mastered the numbers game of sales and revenue, I was able to master the marketing side of it. You see, we spend so much time worrying about social media posts, blog posts, email funnels, and sales pages, that we forget to get down to the basics: having a plan. The goal alone isn't enough. Instead of worrying about building a six-figure business, let's figure out how to make $100 or $200 dollars a day
$100,000 seems like an overwhelming number but setting bite-sized goals helps. If you want to cross into the illustrious six-figure club, you need to make $275 dollars a day. Not too bad, right? When you break down that large revenue goal into a more digestible one, you can breathe a sigh of relief, because now it feels doable. Once you have your daily revenue goal, it's time to map out what that looks like in real life.
This is how you hit that revenue goal.
There are three things that you need to constantly do in order to gain momentum in making sales.
Have product goals in mind, not money goals.
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The first thing you need to do is break down that daily revenue goal into actual product goals. I know that if I want to make $175 per day, I need to sell two marketing plans, or two group-coaching memberships and two bundles, to make that happen. I also know that I can sell one marketing automation package and make that happen. By knowing the different combinations of products that I need to sell every single day, it allows me to prioritize what I need to promote and showcase on social media, conversations that need to be had and general offline work.
Diversify your products, so you can diversify your income.
The other thing you need to do is diversify your income. You need to offer a variety of products and services that solve a variety of problems for your audience. This diversification should also result in different price points to capture your audience at different levels. If you've been selling the same thing over and over and over again, eventually your sales will plateau. In order to keep your audience buying, and more importantly interested, you need to constantly provide new solutions to their problems. I don't mean reinventing the same sh*t in a different format. I mean engaging with your community and figuring out what else are they struggling with.
Ask yourself this: What is another problem that my community has, and what can I build or how can I help them get to the next level? When thinking about this, you also need to create streams of passive income, because if you're exchanging time for money, it's gonna get hard to scale and keep up with.
Keep your business in front of people daily.
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Remember when I talked about the plateau? Here is when what to does if it happens comes into play. You need to get your business products and services in front of new people every single day. Why? Because if you keep marketing to the same 500 people on Instagram and the same 300 people on your email list, you're quickly going to max out on sales. You need to constantly be adding new people to your audience so that you can continue to market and continue to build your business. Whether that's hustling online or marketing offline, your job is to find new people who are interested in what you are selling each and every day.
All in all, I stopped doing the most for the least. All the bullsh*t is a distraction. Just find a process and a system that works for you and forget the rest.
Why are we always chasing something new? We want to know the next best thing when we haven't even mastered the current thing we are doing. I truly believe if it isn't broken, don't try to fix it. In a space where everyone is doing the same things like joint venture webinars, "free" webinars with pitches at the end, social ads, $497 offerings, daily Instagram lives, what are you going to do that's different – what are you going to do that sets you apart?
Once I mastered this process, I tripled my monthly income. I got so consumed with what everybody else was doing online, that I lost track of my own ideas and fell to a $2,500 month. After that unfollowing spree and getting focused, I'm up to a $9,000 month. Why do you care? Because this could be you! It's okay, you can say it aloud… "I want freedom and options!"
If only you found a way to execute more of your ideas and grow your brand, you could own your time. But you can't do that if you continue to be overwhelmed and beaten down by the success of others.
Six figures is an amazing goal, but let's start with something a little less overwhelming. Then, watch how much your brand and income flourishes.
Featured image by Getty Images.
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Originally published January 22, 2019
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"For example, if you’ve fundamentally changed what your product is and does, it’s likely that your brand is out of alignment with the business. Or, if you find your company is developing a reputation that doesn’t serve it, it might be time to pump the brakes and figure out what needs to change.
She continues, "Sometimes you’ll see companies (especially startups) announce a name change that comes with updated messaging, visuals, etc. That usually means their vision has changed or expanded, and their previous branding was too narrow/couldn’t encompass everything they planned to do."
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The Brand Doula was born in 2019, and its focus is on putting "the experiences, goals, and needs of women of color founders first," as well as brands with "culture-shifting missions."
According to Lola, culture-shifting is "the act of influencing dominant behavior, beliefs, or experiences in a community or group (ideally, for the better)."
"At The Brand Doula, we work with companies and leaders that set out to challenge the status quo in their industries and communities. They’re here to make an impact that sends ripples across the market," she says.
"We help the problem solvers of the world — the ones who aren't satisfied with 'this is how it's always been' and instead ask 'how could this be better?' Our clients build for impact, reimagining tools, systems, and ways of living to move cultures forward."
The Brand Doula has worked with many brands, including Too Collective, to assist with their collaboration with Selena Gomez's Rare Beauty and Balanced Black Girl for a "refresh," aka rebrand. For businesses looking to rebrand, Lola shares four essential steps.
1. Do an audit of your current brand experience — what’s still relevant and what needs to change? Reflect on why you’re doing the rebrand in the first place and what success would look like after relaunching.
2. Tackle the overall strategy first — before you start redesigning logos and websites, align on a new vision for your brand. How do you want your company to be positioned moving forward? Has your audience changed at all? Will your company have a fresh personality and voice?
3. Bring your audience along the journey — there’s no need to move in secret. Inviting your current audience into the journey can actually help them feel more connected to and invested in your story, enough to stick around as changes are being made.
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While determining whether the rebrand was successful may take a few months, Lola says a clear sign that it is unsuccessful is negative feedback from your target audience. "Customers are typically more vocal about what they don’t like more than what they do like," she says.
But some good signs to look out for are improvements in engagement with your marketing, positive reviews, press and increase in retention, and overall feeling aligned with the new branding.
For more information about Lola and The Brand Doula, visit her website, thebranddoula.com.
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