All solo businesses go through different stages.
There’s the beginning stage, otherwise known as “taking the leap” or “OMG am I really going to do this crazy thing?!”
Then there’s the “chugging along” stage. You’ve begun to hit your stride, you’re starting to make money… hey, this “crazy thing” just might work! You hang out there for a while because, well, things are good.
And that’s when you nudge up against the sick-and-tired-of-being-at-the-same-level stage. You’re getting restless. The desire for expansion, what Wallace Wattles of Science Of Getting Rich fame calls “more life,” hits… and it’s time to step it up to the next level of income, impact and satisfaction.
I love that stage because it’s such a gift. That tug on your heart is your invitation to make the all-or-nothing decision to break through to a 6-figure income and impact.
The great news is, once you reach this point, you’re not starting from scratch! You’ve been going for a while, so chances are you have everything you need to make the transition quickly and gracefully, with just a few simple actions.
1. Tighten up your niche. Moving to your next level quickly (as opposed to the long and slow road) requires that you focus on a specific problem that people are motivated to invest in to get solved. This means releasing any attachment you may have to your process of deep transformation and getting really focused on what your clients want. Now is the perfect time to look at your niche again, to hone and refine. Are you thinking like a client would? How would they describe the problem you solve?
2. Transition to several levels of service, including a high-end offering. To create 6-figures in your business requires you to stop giving away all of your time in 1-on-1 sessions and instead transition to offering service at different levels of investment and availability. Your 1-on-1 time goes at the highest level, in a premium or high-end service such as a high-end program or private 1-day intensive.
3. Raise your fees. Once you’ve transitioned to different service levels, thinking in terms of “dollars for hours” and pricing your services at a low hourly rate simply doesn’t work. Instead, get very connected to the value of your new packages and price accordingly – in other words, raise your fees!
One of my favorite exercises for this is to make a list of at least 30 results that are possible for your clients when they work with you. This will force you to get very specific and will keep you connected to all the ways you positively impact your clients’ lives.
4. Systematically grow your list. Now that you’ve repositioned, repackaged and re-priced your services to support more people, it’s time to reach more people. Create a campaign to increase your list, including a clear goal (25% is a good number to start) and a “by when” date (shoot for 30-60 days). One way to do this is to create a new irresistible free offer and launch it as you would a new program, using social media and your current peeps to get the word out.
Remember, growing your business means growing yourself. (Entrepreneurship is not known as “the best personal development course on the planet” for nothing.)
Simple as they may be, these actions are bound to push a few of your buttons. And that’s okay. Think of them as stepping up to a whole new level of service and creating value for your clients – which they are!