I want to talk to you today about sustainability in business.
It’s very easy to say, “Oh yeah, I quit my corporate job and I ran my business for two weeks!” or “I already started my business.” and so on..
But actually, if you are thinking about quitting your job, quitting is not the problem!
It is paying your bills 4 or 5 years down the line, right?
And that’s what keeps people from actually leaving their job: they perceive the corporate world as safe. (That's up for debate, I would probably not say it’s very safe.. but let’s not go into that right now).
The issue is: if you’ve never not had a corporate job before, you don’t understand or have faith that a business is going to bring in money month after month. You don’t believe it will give you the same kind of safety and consistency as your job does.
I’m coming up to my third anniversary of being job-free and funemployed - not having a job, 3 full years with zero income other than my business.
There is nothing inconsistent about a business if you are consistent with the business. Consistent income comes from consistent marketing. It is really as simple as that.
If you set up the right systems that will work for you, your business will be consistent. If you can get yourself to an office from 9 to 5 every single day for most of your life, you have the discipline it takes to run an online business - we need about 20% of the discipline that you need in the corporate world.
If you can manage systems and a little discipline -- you’re going to be golden.
Here’s how you can create sustainability in your business:
1. Have a good business concept
So the first one is, you’ve got to have a good enough concept for the business. (Notice I said good enough: you don’t need to have a perfectly original idea for it to work). You need to offer something that people want and you have to know who you are marketing to.
Your business concept can be pretty basic. For example, there are thousands of electricians out there. There are thousands of chiropractors, there are thousands of coaches. There’s thousands of everything and they are all still making money because there’s enough demand for all of them.
So you do not have to have a crazy business idea. Often, in fact, if you do have a crazy business idea that is actually a bad thing because there is no proven demand for it.
That is far riskier than, say, becoming a health coach, because there are plenty of health coaches out there so people must want health coaching services.
2. Structure your prices
The second piece is to understand is how you can make enough money from your business.
That sounds really obvious, but you would be surprised how many people will run off and create these beautiful ideas, like a yoga retreat with five-star meals, and so on; but then they don’t even charge enough to cover their costs. It's really important that you price properly.
Beyond the cost of delivering your service, how much does it actually cost you to market it? How much of your time it is going to take to market it?
Because if you have five clients, it’s 5 hours of work a week, it sounds like an absolute dream; but if it’s taking you 20 hours a week to market that, you are only earning those 5 hours, that is not really feasible. That is not sustainable long term.
3. Know how things work together strategically
The third piece is, there is some tech involved. If you want to have a business with any online marketing, there’s some tech involved.
Do you need to code? No.
Do you need to be a web developer? No.
Do you need to create an app? No.
But you do need to have an email platform. You need a few systems in place and know how they integrate; how they actually work together strategically.
You need to know that when they sign up for X, they need to receive Y email. You need to know what to say in your email. Then after that, where do they go and what needs to happen? That is the part that requires a little bit of knowledge. And that’s where you can learn from people who have done it all before. This is essentially what I teach in my Living Rosy programmes.
MY FREEDOM BUSINESS BLUEPRINT
So today I was thinking, "What would be really really valuable, what could I create to help the people in my community?"
And I realised that there’s no end-to-end understanding out there. People will give you 5 ways to do something, which only confuses you. Or they’ll offer advice on one tiny sliver of what you need to know, like “how to write a blog post”. It is pretty hard to actually know how they fit all together.
So I decided that instead, I was going to do a high-level overview and help you understand how everything actually fits together.
So I sat down and I created what I’ve called, My Freedom Business Blueprint.
And it is literally a blueprint. It is a mind map on multiple pages going into very great detail on exactly what you need to do and put in place to set up your business.
This is for people who have a coaching or consulting business - anything from graphic design, accounting, business consulting, health coaching, life coaching -anything where you are basically sharing your knowledge your services in some way.
I then created 4 training videos to go along with it and the first video goes really deep into how you actually creating your offer. What business to start, who to sell to, how to actually piece it all together. Like what kind of strategic element or sort of the tech behind it.
And then the second video goes into how to price properly, how to make sure that you’re not only profitable in business because the profit could be $10 profit a month and that’s not going to get you anywhere. Profitable, I mean like replacing your salary, profitable in a few months. Like what is the shortest time period you could replace your salary and how you can make that happen. What kind of products or services should you be creating, how should you be structuring them, what is the best strategy for that.
And then, how to ethically set that up as well.
Spoiler alert! You should be really doing high-end, premium services and how can you do that when you are new in the industry. So I go into that in great, great detail.
In the third piece, I go through the blueprint itself, line by line, explaining everything.
And in the fourth video, I explain how to actually take this theory and make it a reality.
I would love you to join us. It is completely free all week and you can jump in and you can learn. It is going to be perfect if you are brand new to online business; or if you are few steps ahead - maybe you already have a business idea. It’s going to be great for you, help you see the overall strategy.
If you have already started in your business, but you are not getting the traction you want, then I really recommend that you also jump in as well. It's going to let you see where the holes are in your current strategy.