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WHAT IT TAKES TO BUILD A 7-FIGURE BUSINESS

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Episode Description

READY TO BUILD A 7 FIGURE BUSINESS!

When I decided to build a 7-figure business, I had just reached my first $500,000 year. If you’re targeting the 7-figure mark, I applaud you. And I’m also here to give you a little insight on what it takes to become a millionaire.

This week I recorded an honest and raw episode for you and reveal the 10 things I wish I would have known when I first made my decision to scale my business. I hope you enjoy it.

Full Audio Transcript

READY TO BUILD A 7 FIGURE BUSINESS!

Speaker 1 (00:00):

Do you want to build a million dollar company? Well, today I want to share with you the real truth and what it actually takes and what I wish I would’ve known. Then I decided to build a seven figure business. As always, before we get started, make sure you hit the bell and you subscribe to our channel. So you never miss when new episodes become available here every week. Welcome to power hospitals on YouTube. I’m your host, Carolin Soldo. I’m a business owner, business scaling master, and mom of two boys. I love thinking big pushing boundaries and doing things differently. Most of all, I’m all about achieving massive growth with ease. And how do you scale your business by living the life you love? Let’s go. So let’s start with number one and that’s where it all starts. And that is your vision. In order for you to become a seven figure business owner, you need to develop a really, really clear vision of what your business and your life are going to look like when you get there and really get to the point where it’s super detailed and colorful and you know, as much as possible about, about your business, what you’re going to be selling, how many units you’ll be selling, who are you going to be selling to?

Speaker 1 (01:10):

How is your marketing going to work out? What about your sales process? What about your team? How will you be spending your time? Right. So all of these things need to be really clear in your mind so that you can believe it, see it in your mind and feel it, and then take powerful action towards it. The second thing I wish I would have known in the beginning is really how hard this can be on your mind. My success has come from building a really, really strong mind and finding a way to be consistently motivated, to be consistently energized and to put myself into a really powerful state. Because as you can imagine, when you’re running a big business, there are a lot of things that are happening. Lots of pressure, lots of demands, lots of things that are coming at you. So you need to deal with them.

Speaker 1 (02:04):

And at the same time, you need to be happy and feel great. And you also have responsibilities at home, right? Maybe you’re a mom, you’re a dad, you have family, you have friends. So you building a business, you have an amazing quality of life. And that means that the first thing you need to focus on is your mindset, your emotions in your state, and how you feel because that’s when you can operate powerfully in your business and you can take the right actions. The next thing I wish I would have known in the beginning is how many risks I would have to take in my business. There was a time where we were really doubling down on marketing and we were going through some really fast growth phases and some growth spurts in my business. And I remember us spending around a hundred thousand dollars or so on advertising, Google ads, Facebook ads, Instagram, LinkedIn, many things.

Speaker 1 (02:59):

And so when you’re looking at a business that has, you know, a hundred thousand dollars in annual just marketing expenses and your team needs to sell, and you need to make money to cover these expenses, you might find yourself sitting in your office thinking what if we don’t sell? What if we don’t close? What if we don’t make it? What if we are in the minus this month? Right? So you need to be able to take that risk and really put yourself into it and put the money on the table before you will get that return. And as your business grows, your output might end how much money you put into the business will grow and grow and grow as your income grows and grows and grows. So it’s a financial frequency that is stretched out in terms of how much you spend and then how much you can receive.

Speaker 1 (03:52):

And that can be really uncomfortable for people. Let’s talk about visibility for a moment. Now, remember a times where I felt really tired of being visible, going on interviews, by being on podcasts, doing videos, doing events, showing up, posting, writing, constantly communicating. But that’s what it’s going to take to get your company to seven figures and create that level of exposure, right? And visibility in the marketplace. So that people actually know who you are. They know what you do. And then over time, there are other things you can implement to make things a little easier, but I wish I would have known the level of visibility that it would require, because that is a critical factor when it comes to your success, elevate your brand and how you show up a big business, a bigger business. And you’re still considered small business at a million, by the way.

Speaker 1 (04:47):

But a, you know, a business at that size looks so certain way. So when people are evaluating you on, they’re looking at you, they will look at your social media presence. They will look at your website, your colors, your photography, your images, the way you write, the way you show up as a person, right? The way I look right now. And so you need to be ready to really lift that up and elevate that to a super professional and modern times level. And I did that. I remember looking at my brand saying this is not a million dollar brand anymore, right? It just is not. And so most people that don’t have those skills to create those awesome brands. Um, and so I worked with a brand designer. I worked with an amazing woman that designed my new brand based on my company values, who I am as a person and who our clients are by the motor.

Speaker 1 (05:43):

Our message really is. And so I want you to really invest in how you’re showing up to make sure that you can actually, you know, become that million dollar brand. And that leads us right to the next one. And that is to be really, really bold, to be able to lead a team, lead your people, attract your clients, become that person that people look up to, you need to be bold. And many people have in the beginning, they just don’t have that, right. They come from, you know, a corporate job, or they’re just not as confident in their own skin, but you need to be that so that you can show up like a boss, right? You can show up like the real deal. And you know, that’s, that’s in terms of the speaking that you’re doing, when you go on interviews, when you have to make the hard decisions, right?

Speaker 1 (06:35):

When you ask for the sale, right, you might be raising your prices over time. So you need to know your value in what you bring to the market. So you can really believe in yourself and therefore have the energy and the posture to be standing in million dollar shoes. As you grow your company, you will be building a bigger and bigger team so that you are not in a business prison, and you can actually enjoy the freedom that a business like that can give you. But in order to have a team that communicates well, that operates well, that follows through you need to be a leader. And that means that you are most of the time putting yourself in the back seat. Mine. So servant leadership means that you’re serving the people. You’re serving a client. Who’s serving your team. You’re serving the people, your family.

Speaker 1 (07:26):

And a lot of times it feels like you’re putting yourself last so that your needs actually come last and it can play games on you, right? It can literally play games on you. When you find yourself helping other people, answering their questions, meeting with them, encouraging your team, constantly giving, giving, giving you’re pouring out the energy. And that is what a leader does and what a leader can do for people without feeling resentful, without feeling negative, without feeling bad for themselves or anything. But, you know, instead feeling more and more excited about the work they get to do. So all of the years, I have constantly learned and read the books and studied and really looked at, you know, how I was showing up in my business to make sure that I could continue to become a better leader every single day, delegating and letting go of your control is really hard for many people, especially if you are the business type, the entrepreneurial type.

Speaker 1 (08:28):

Why? Because you think that you are the best at what you do. And you know what chances are, you are the best. You are the best at what you do and your given field, right? Or your niche, but you can do it all yourself. So letting go of that control is hard because we feel what if things go wrong? What if that person makes a mistake, right? And additionally, you also need to pay for them, myself, all the times. Clients say, what if I hire this big team or this new person, and I spend all the money on them and then they’re not performing well, what if I waste the money? Right? What if things go wrong? So letting go of, you know, that control in your business is really hard, but it’s so, so important so that you don’t get to burn out. You don’t burn out as you grow your company.

Speaker 1 (09:13):

The next thing is in managing these people, right? We talked about leadership skills, but what about managing your team? I really underestimated how much managing and putting processes in place. It will be required to get to a million dollars. And until my business was really crazy and sort of auto control, I had a lot of contractors and people helping me, but nobody was really communicating well. They were people who weren’t really doing their jobs. And I felt like I was this sort of, you know, monkey in the middle, really responsible for everything at the core, but then making sure all my people were doing their job. And that was exhausting too. So having the right meeting cadences in place, communication tools and how you really communicate with your team, right? How do you get them on the same page? How often do you meet with them?

Speaker 1 (10:07):

How do you plan for projects? How do you track your projects? All those things may seem very tactical and administrative, but they ensure that you and your team work well together and you can continue to hire and hire more and more people over time. And with that, expand your business. And here’s the last thing. And really what it all comes down to being in this field of coaching and consulting for a couple of years, I’ve seen a lot of people come and I’ve seen them disappear. Might they come in? They work, they have stamina and power for awhile, but then something happens and they go away and sometimes they come back and there’ll be emerge, but it’s not about how fast you can run. It’s not about how loud you can be. I’ve never been the loudest. I’ve never been the craziest, you know, marketer, but I have been very consistent.

Speaker 1 (10:59):

And so what you need to do to really make this an enjoyable journey and a long lasting journey and reach your goals fine, is be consistent and stick with it. Don’t give up, be that person that’s there day in and day out every single day and build that stamina and that power to go through the tough times because they will show up. And one thing that’s really helped me is building a super strong support system. I’ve always had coaches. I made friends in the industry. I joined masterminds. I was never alone in my personal life as well. I was, I leaned on my family. I leaned on my friends. And so maybe the most important thing you need to know right now, when you decide to build a seven figure company is to make sure you’re supporting yourself the right way. Speaking of support, have you heard about skill Academy and powerhouse business?

Speaker 1 (11:55):

That was in my private client groups where I support six and seven figure service-based companies, white, financial advisors, coaches, consultants, attorneys, accountants, people in health and wellness and so many more. And we work together in a supportive, powerful, loving, and high integrity environment to make sure we can overcome these challenges. I just talked to you about, we can stay strong in our business and we can reach our goals faster and with a lot less struggle than other people can. So if you feel called by this message, if you are maybe alone, if you want more direction, if you seek clarity, if you want to know your best, next steps, let’s have a conversation. I would love to meet you, talk to you about your business and see how I can support you to book in a call with me at no cost. All you need to do is go to Carolyn solo.com/apply, select the time on my calendar.

Speaker 1 (12:53):

And then you and I will be speaking in just a few days from now. And guess what I take these calls myself, because you are important. And you know, if this is the right call for you to make right now, so go to Carolyn solo.com/apply right now, schedule that call and that’s talk. And now I’d love to hear from you. Leave me a comment below. Let’s really have a conversation about what it takes to build your business with seven figures. Let me know what industry you’re in, what level of business you’re at and what challenges you might be facing right now, because I want to support you as always. If you liked this episode, make sure you give us a like subscribe to our channel, leave us a comment below, and then make sure you come back again next week. Are you a woman business owner looking for the best ways to grow your business without working more in my most popular training, I’ll show you your biggest opportunities and what might be blocking your growth right now. Let’s grow your business or making real space on your calendar. Experiencing ease, spending time with loved ones, automating everything that makes sense, and letting go of overwhelm, go to bulls-eye fixed.com to watch the video.

Speaker 2 (14:07):

No.

Thank You For Watching!

I am truly grateful that you have chosen to spend your time listening to me.

Are you looking for support to grow and scale your business with ease? Schedule your private Business Clarity Call at no cost now. On this 60 minute call, you’ll gain clarity on your best next steps and gain Carolin’s help to create a customized plan that’s perfect for your business needs and goals. Together we will discuss strategies to overcome any challenges you are facing including marketing, building a team, branding, creating offers and services, online business systems, messaging, and more. You’ll leave the call with a tailor-made plan and if you want our help, we can discuss the possibility of working together. This is a no-cost, no-obligation call.

Schedule your Call Now.

With gratitude,

Carolin

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