00:00:00
Hi friends, and welcome to episode 242 of her Her Empire Builder show. I am talking today about something that I am extremely passionate about, and that is more women in the world making more money. And it's something that some people like to talk about, a lot of people don't like to talk about. But really, what I am hoping to share with you today is the three essentials to creating over six figures in your business. And while I generally, inside her Her Empire Builder, focus on people making multiple six figures in their business, there is a large portion, of course, creators that start out and never reach that mark.

00:00:46
And that is something that I am on a mission to change. So recently, Kajabi put out their state of creators report and I was floored by that. Their stats showed that 96%, of course, creators on Kajabi are making less than $100,000 a year in revenue. And to me, when you start a business, there's so much of your dreams and your hopes and everything that goes into creating that business that unless it is an intentional side hustle that you're hoping to get 1020 thousand a year from all businesses should be making more money than that. I mean, we can all know that it is virtually impossible to live if your business is turning over less than 100,000 to live off that revenue.

00:01:33
Because once you pay your taxes and your expenses, there's very little of that leftover. And so one of the things that I really decided after I read that creator report was to double down on the efforts that we create in how we can help more people to simply get over that hump. And this is where it gets really tricky, right? Is because I was looking at it for ages and going, why? Why are there only 4% of people that are getting over 100,000 a year?

00:02:06
And I think a lot of it is because it's hard. I get told a lot that there is so many things to do and so much to do, and people don't know where to start or get confused with so many different things to do at one time. It's also business to me, is probably one of the hardest mind games you could ever play. I am 20 years this November in business, and I still work one on one with a coach to help me push past my edge. And I come up against it constantly where I'm like, okay, I want to achieve this next thing.

00:02:43
But I know I'm getting in my own way here. And I know that when you first start a business, there are so many things. It's a minefield of things that we need to break through and get to the other side of. And a lot of people, I think, are willing to embrace the hard, are willing to embrace the suck, are aware that it's going to be hard and just don't have the right roadmap and the right strategies to be able to do that, because business at its core is pretty simple. And so today I want to share with you the three essentials that I know.

00:03:15
You need to get past six figures in your business so that you can hopefully not become one of the 4%, but so we can grow that portion inside her Her Empire Builder, I have made it our goal. We are currently sitting around about 30% of our members are making over $100,000 a year, which to me is still not enough. So we have made it our goal to, by the end of the year, try and get to 50%, making over 100,000 a year. So we're putting a lot of effort and developments into being able to help everyone achieve that goal. So let's get into.

00:03:52
Oh, hang on. Before we get into it, let me remind you, I am actually running very, very soon a full in depth training called the six figure course creator. So we are going into her Her Empire Builder launch week next week. And so as part of launch week, I'm running a free three day training. You can register for that at sixfigures online.

00:04:12
That's the number six, the word figures online. And then you can get into that free if you like what I say today and you're like, I want to do an in depth training of that. We will be spending an hour every day for three days together and going over one of these topics every day. And I'll be giving you the strategies and the templates to, to be able to implement that. So if you want all of those things, go to sixfigures online.

00:04:37
If you're listening to this and launch week has passed, then still go there and register your interest because you'll be reminded of when the next training is on. All right, now let's get to it. Hello and welcome to her Her Empire Builder show. I'm your business strategist and host, Tina Tower, and I am so happy you are here. My goal with this show is to bring you the inspirational and informative conversations with interesting humans, as well as the tools, tips and resources to help you build your online business.

00:05:11
Since starting my first business at 20, I have built and sold four times. And in 2018, while travelling around the world with my family for a year, I tripped and fell into this wonderful world of online courses and I instantly fell in love. I'm a million dollar course creator, a world traveler, best selling author, a mama of two man children, and a lucky wife. There's no playing small here. It's your time to grow to run a highly profitable business that makes you wildly wealthy while you positively impact your clients and the world around you and have the life you've always dreamed of.

00:05:48
Let's get it. Okay, let's get into the three essentials that you need to build to being a six figure cost creator. These are actually the same things that I think are essential for being a seven figure cost creator as well. A lot of them, once you nail, it's just more and refinement of the same things. So your number one is your ascension model.

00:06:14
Now, what I mean by the ascension model is for you to have your suite of irresistible offers. Now, one of the things that I see people doing too often at the beginning is too many offers in their ascension model. And so really in your ascension model, which is, which is just your suite of offers that you're going to have, is you're usually going to start with one. I think that it is a great idea to enhance and improve the one offer until it becomes a six figure offer, and rinse and repeat and sell that again and again until you get over that. Occasionally it can be useful to kind of bolt one on at the start and the end.

00:06:58
But what I find is to have a well priced signature offer that you want to become known for. And when you've got that, you can do the math on how many you will need to sell to make six figures and then go completion backwards. So go from that and go right. So working out how many launches a year do I need to do for that offer? How many do I need to sell in each of those offers?

00:07:21
And then it's going okay at the top of the funnel if I need that many to buy my course. Working out from a funnel strategy point of view. So, for example, we know that say you get 100 people register for a sales webinar. Out of those hundred people, you might get 30% show up. So that's going to give you 30 people to show up to that webinar.

00:07:40
Out of those 30 people, it's highly likely, depending on how good your sales skills are. So if you're new, it's going to be lower. If you're very practiced, it's going to be towards the higher end. But out of those 30 people, you're likely to have around about a ten to 30% conversion. I have seen people get 50% conversion in their show ups before, but let's say I'm at like 30%.

00:08:03
So out of that 30, you will have ten that will then buy. So that's 100 people register to get ten purchases at the end. So once you start, you can kind of know your numbers and try and tweak and improve your numbers on all of those different points so that you can increase your conversion. I find that a lot better use of time, energy and effort than trying to do ten different offers and feeling like you're pulled in many different directions. Because I think we can all agree that as business owners, we're short on two things.

00:08:34
A lot of the time is time and energy. You know, if we had more time and energy, we could do so many more things. But what I see is people wasting time and energy and being very, very busy on not doing things that are going to be making you money and increasing revenue. And a lot of what you do at the very beginning, like to get to that first six figures and become one of those 4%, you have to be solely focused on delivering an exceptional customer experience, value for money and making sales like that is your entire focus of what you're doing. And so you really want to have that champion offer and be really refining that again and again.

00:09:15
There was someone I was talking to just yesterday who had their signature offer, but they wanted to go for low volume, sorry, low price, high volume. And so their signature program, they priced it at $47. Now at $47, you need to sell like over 2000 of them to get to 100,000. At 197, you only need to sell like a few hundred of them. And so when you're looking at your ascension model and creating your irresistible offer, you've got to look at it and go, what's going to be easier to sell?

00:09:48
Is it going to be easier for you to sell, say, if you're doing, if you're doing different launches and you're going to launch four times a year, is it going to be easier for you to sell a dollar 97 product to 258 people? Or is it going to be easier for you to sell a $2,000 product to twelve people? That's all you need to do to hit that hundred thousand. And every industry is going to be different with that. But you really want to play the numbers and pick the game that you're playing and then go from there.

00:10:20
Okay? So that's number one. Number two is your growth a team now for a lot of people, when you're first starting out you can burn through cash really fast if you outsource too quickly. So I am definitely not encouraging you to burn through cash too quickly. I think that a business needs to be profitable as quickly as possible so that it can be sustainable and so that you don't get disheartened and quit is the main thing.

00:10:46
Once you're making money, you can start refining your profit, you can start growing your revenue, and then it's just refining all of those different parts to grow the business to however big you want it to grow to. But when I say growth a team, I do think that you can go really far by yourself. I'm a classic Diyer. There is actually not really anything in my business that I don't know how to do myself. I have self taught all of the different areas so that one, I am aware and can hire people and train them well, but also so I can teach it.

00:11:20
And so with that growth team, though, there are always better ways in which you can spend your time. So I have, like, an expenses pie that I operate with. A really good book recommendation is profit first to work this out. But very simply, out of every dollar that I make, 20% of revenue goes to team support. So that was from the very, very beginning, and I have not changed that percentage going through.

00:11:47
That is my, like, hallmark of what I am happy to spend on team support inside my company. And sometimes that will get, you know, if we grow really rapidly, if we have a really great launch, or I haven't caught the team up, then it can get lower for a bit. And I know when it's sitting at lower, when I do my quarterly review and we're sitting lower than 20%, I know that everyone's probably a little bit stretched. I'm a little bit stretched. I could afford more help, and I should get that.

00:12:14
And then sometimes when I put on new people, especially if they're high priced people, I can bounce up to around the 30% for a very short amount of time. But then the idea is, when you get that increased team support, you need to be spending your time on higher revenue generating activities, which then, in turn, will lower that percentage point again. So 20% is to be spent on team support, 20% is always retained profit, and 20% is yours. That is like 60% of the pie. And then the other 40% will really go into all of the different areas that we go into, which I have inside her Her Empire Builder.

00:12:53
But I won't go into that for the purposes of today's session. But 20% of revenue on team support 20%. Always keep that as profit in your business, because the psychological advantage of having a buffer in your business, especially right now. Like right now, across the world, there's quite a significant economic downturn. It's the time when people are really thankful if they've built themselves up a buffer.

00:13:16
Usually, sales will slow slightly in economic downturns, depending on the industry. Some industries are very heavily affected, some industries are not affected at all, and some industries are booming. But having a 20% profit margin that you can continuously put into an offset account means that you can have that buffer and that safety there for when you want to invest and you want to upgrade through team spend, or you want to invest in new marketing, or whatever you want to do, and 20% yours right from the very beginning. I cannot tell you how many business owners I talk to that say they haven't paid themselves anything while they're getting on their feet. It's a real recipe for resenting your business.

00:13:55
I want you to love your business. I want you to grow your business. I want you to make that beautiful impact with other people that you can make. And part of that is getting paid from it. You're putting so much time and effort into it.

00:14:07
Let me tell you, friend, you deserve to get paid. And so 20% of that is automatically yours always. And then at the end of the year, you can decide, okay, do I want to take more? If we got. Do we have a good profit year?

00:14:21
You can take that as a dividend or however you and your accountant decide to do it. But 20% should be yours right off the bat every single week. So that way, if you buy time, you can look at, where are you spending your time right now that could be better spent on higher revenue generating activities. So take that 20% and start making your team. So that's something to look at at both home and work related.

00:14:46
So I know for me, I don't love to clean. I mean, does anyone love to clean? Actually, I do have friends that are like, yeah, I love to clean crazies. But for me, I'm like, I don't love to clean. I don't want to keep.

00:14:59
So the first thing that I outsourced wasn't actually work related, it was home related. But I could pay a couple hundred dollars a week to have a cleaner, to have someone do the laundry, like, do a few things around the house so that I could then free up my time and use that time to work more. And when I wasn't working, I just got the fun parts and could play with the kids instead of doing all the housework in there as well. So sometimes it's not just work related. Sometimes you could free up your time in the home so that you have more free time to be able to work on generating more revenue inside your business.

00:15:35
When I first started this online business, so her Her Empire Builder actually turns four next week, which is very exciting. And I have been running this online business for about six years now. So when I first started, I started, the first hire I did was a ten hour a week part time assist. I had that, then I got a full time VA was my next one, and then I grew from there. And what I recommend is when you're starting to grow from there, when you've got like more in the kitty, if you're sitting at 10% of revenue spent on team, it's going, what role can you create that is going to fill in the gaps of where your natural strengths aren't lying?

00:16:16
And so we go into detail with that a lot more. I've got like all of the task roles in your job description inside the training that I'm doing. So if you want that, go to sixfigures, dot online and register for that. So you can get all of those resources in there as well. So that is number two.

00:16:32
Number three is to have crystal clear messaging and consistent marketing. In an online business, marketing is like half the game. It totally takes up so much more time, energy and effort than any other business model than I've ever, ever ran before. I have had bricks and mortar, I've had toy stores, I've had tutoring centers, I've ran licensing, I've ran franchises. I have never had to do as much marketing as what we do inside an online business because it's a busy world on the Internet and we're sold this bullshit so often on Instagram and on different social media things that you can spend a very minimal amount of time and put your beautiful work out there and strangers on the Internet will somehow find it and buy it in droves.

00:17:25
It is simply not true. Unless you are a superstar already and have a really big following from another life, or you're spending a bucket ton of money on Facebook ads, it takes time and energy and effort to get that traction. And you really do need to do all the things and commit to all the things. It is a lot. It is hard.

00:17:49
I'm selling it to you now, right? But this is it. I want you to be successful. And to be successful, you have to. It gets easy when you accept that it's hard.

00:17:58
So instead of trying to shortcut it and instead of trying to go, oh my gosh, like, I put my thing out, I built my website and I shared a couple of social media posts and I only made $10,000. This sucks. Instead of doing that, know that that's great. You've taken step one. If you want to add a zero or two to the end of that revenue, a big part of what it takes is very crystal clear messaging and super consistent, high volume messaging that your customers care about.

00:18:30
So a way to do that, we have obviously inside her Her Empire Builder all the systems to be able to do that with your personal brand and with your podcast and blogging and third party media and everything that we do to market an online business. But in a nutshell, you want to make sure that when you are putting time and effort into your marketing, that you are milking it. So what I mean by that is that you can repurpose the content in as many different ways in as many different places as you possibly can. So you're not having to create from scratch all the time. I will see people make that mistake quite a bit in rather than doing something and then using it again and again in all the different ways, in coming up with all the fresh ideas constantly so you can repurpose your content quite a lot.

00:19:14
One of the best tips that I ever got for marketing was to talk directly to the person that you're serving. So instead of trying to make your sales page or your marketing messaging appeal to everyone. So like, hi everyone, this is everything that I'm doing and I help everyone do all of this instead of making it too broad. Now, I will caveat this actually, with, with sometimes broad does work, but what I have seen work nine times out of ten is niche. So talking directly to that person that you are serving, so going, you know, you've got your perfect client avatar there, you know everything about them.

00:19:52
If you imagine them right there and you just talk to them like you're talking to a friend. So I always say to people, like, if I read it, if I read all the marketing material and like it sounds so like you would never that to someone if you were standing next to them in person, then usually that's a change of the marketing messaging and you've got to change it so that it's more colloquial and so that it's more relevant to the person that you are actually talking to. And so with that, what I find is if you talk directly to the person that you're serving, that they will either like, you repel or attract people. So as they're scrolling, you know yourself when you're scrolling on social media, it's really hard to grab your attention, right? But if you see something and you're like, this is talking directly to me.

00:20:36
This is exactly what I'm dealing with and what problem I'm looking to solve right now. It stops your scroll. You want to click, you want to read more. If it's like very genuine, you're like, that sounds nice, but I wonder if it's for me or not. And then you're under the next thing.

00:20:50
So being really specific will grab people's attention and grab your right clients so that you're not wasting time on people that aren't your ideal client. Then you'll also get people on the periphery of that as well. So talking directly to the person is a really big win. And then doing enough of your thought leadership, credibility building, trust building, so that you become the go to person in your industry. And there is a lot of different moving parts in how to actually achieve that.

00:21:19
But it's something that you really do need to focus on if you want to build to a six figure or seven figure online business in being that solidified expert and owning that space. And then once you've got those in place, you just continue to refine and scale up forever. The biggest tip that I have is things are going to get in your way, things are going to go wrong, things are going to, you know, you're going to have problems you don't even know until you start. I talk to people all the time that are like, it's only when I started creating this funnel or doing this thing that I saw this pop up and I was like, I didn't even know that was going to be a problem. And so when something gets in your way, it's up to you to decide, do you want to push through or not?

00:22:02
And if you do, you can. Like, that is really it. I think that it's really easy to fall into the trap of going, it is so much harder for me than it is for everybody else. But let me let you in on a little secret, is that it's hard for everyone. Everyone, when you're doing things that you have never done before, are going to find it hard.

00:22:23
You know, that's the same with anything in life. But when we practice and when we learn from our mistakes and when we're persistent, we can definitely do anything that we want to do. And I think that that's a big part of being an entrepreneur is that you're up against your edge all the time. I mean, I talk to my husband about it all the time. My husband is not an entrepreneur.

00:22:43
And he says constantly, like, I'm an entrepreneur through and through. And not everyone is designed to be entrepreneurial. You know, it's something that you've got to enjoy pushing out of your comfort zone and enjoy just seeing what you're capable of and seeing what's possible on the other side. And so when it gets to and you feel you're at your edge, you're like, you know what? You can start to feel that creeping, niggling feeling of impostor syndrome and going, I am trying to do something I've never done before.

00:23:15
I am going somewhere I have never been before. That's when you reach your edge and you decide, do I want to push through this? And do I not? I know across the course of my business journey, there's definitely years that I am on a growth year. And I'm like, you know what?

00:23:31
I'm bashing through that edge like my current ceiling that's becoming my new floor. I'm ready, let's do it. And then there's other years that I'm like, you know what, I'm staying on this level this year. I don't want to push. I don't want to constantly feel like I'm outside of my comfort zone.

00:23:50
I want to little comfy right now. So it's not all the time you have ebbs and flows and troughs and peaks and all of the things throughout your business journey. But if what I do think is you need to get to over 100,000 as quickly as possible because you can't run a sustainable, profitable business under that. And so I think you sprint there as quick as you can, you decide, do you want to keep pushing through that edge to get there? If you do, you sprint there as fast as you can and then reevaluate when you get there.

00:24:20
And it's, you know, a saying that I love is stepping stones or stumbling blocks. It's up to you. And so you get to look at those and go like, use everything that you stumble on, use them as stepping stones to get you to that next level. Because the only difference between people that earn over six figures a year and people that don't is that they try and do better. And when they fail, they just step on it as a stepping stone and learn and go to the next thing again and again and again.

00:24:46
Business is very simple in that all you're doing is you find a problem and you go about relentlessly solving it for that chosen group of people. That's it. We just want to create a program that can solve a problem for people and make their day better, make their life easier, whatever it is that the niche is that you are working in. So hopefully that helps. You've got ascension model and irresistible offer your growth, a team, crystal clear messaging and consistent marketing.

00:25:17
If you want to go in depth in either of those, join me at my training six figures online alright everyone, have such a fantastic day. This episode was brought to you by my signature group coaching program, her Her Empire Builder. The best online education for female course creators in the world. Check it [email protected]. Along with so many free resources to help you get building your empire and seeing those results that you deserve.

00:25:49
If you loved this episode, please don't keep it a secret. Share it with a friend on social media and tag Tina Tower and give it a review. It really does help us to be able to bring you bigger and better content as we grow. Have the most beautiful day. I'm Tina Tower and I'm cheering you on all the way.