Do you desire to get to, or to add another 6 figures to your business?
If you are like most entrepreneurs I know and work with, this is a very common goal that I hear many times over.
When I start asking questions and dig a bit deeper, I discover what they truly want is:
- Abundance of money
- Quality of life
- Life Experience
Yet instead, as I find out more about this trend that I am noticing is that despite their sales volume, instead of achieving what they truly want, they have erratic cash flow, debt, and are married to their business.
They Were Romanced By The Myth of a Six Figure Business
That’s right, I called it a myth. There seems to be a misconception that what the business earns is what the entrepreneur earns. And that almost never happens.
Even if your business achieves a 6 figure income, you personally unfortunately will not necessarily have the same income.
Your business has expenses, for example:
- Cost of delivering your services
- Re-investing in your business to grow it
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When you are done paying all of those expenses, there really isn’t that much left to create the life you truly desire. So, the next natural step is to focus on generating even more clients and income, yet this doesn’t necessarily mean that you will have the time and money you want.
Yes – Focus on Sales – And…
Don’t get me wrong! Growing sales is awesome, and I love helping entrepreneurs cross those “big” milestones, whether it’s their first 100K or their first 1M.
However while it feels good to say that you have a 6 figure business, quite frankly it does you no good to get to 100K in sales if it costs you 120K to do it!
Setting a revenue goal on which you base your business and life, is backwards and a recipe for being broke! Because you only get to build your life on “what’s left”.
Income goals, while important, need to be a product of your profit goals, not the other way around.
To build a highly profitable & luxurious business and life, you need to explore what your ideal life looks like – and determine the amount of money and time you need to reach it.
Build Your Business From Your Ideal Profit
From here is where I work with my clients to build a business that will lead them to their goals. And while of course we set income and sales targets, we always have checks and balances to make sure that these goals will allow them to meet and exceed their profit goals. Which ultimately hold the key to their life goals.
I know that sales are sexy, and that is why so many coaches and business owners focus on it, putting all their effort towards it. However let’s be honest, “sexy” really is just a teaser…..it’s not what provides any real or lasting satisfaction. To truly be satisfied, you need to take it a little further. And in your business that true satisfaction comes from profits!
One of the things I also don’t like about business is answering the phone all of the time, as that just takes up so much of my time. There are some great phone answering services available though which can rid you of all of that, so they are ideal if you are in that same situation, so look into those.
My advice to you is not to fall for the “myth” of a 6 figure business to create the life you want. Rather design the life you want, and the design the business model that will allow you to achieve it.
With 25 years' experience leading 6-figure to 9-figure companies, she strategically partners with entrepreneurs to help them focus on sustainable & scalable business growth, so they can create a highly profitable and luxurious business and life.
Passionate about helping women earn what they are worth and build their wealth, so that they can realize all of their dreams and desires. She brings together her vast business knowledge with the deep inner work needed to help entrepreneurs identify blocks, step out of fear and overwhelm, raise their wealth consciousness, and move forward towards their goals with measurable, tangible results.
She is a featured Expert and regular contributing author for Today’s Innovative Woman Magazine, and is profiled in Canada’s 2014/2015 Distinctive Women Magazine
Latest posts by Nafissa Shireen (see all)
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I am so over “Six-figure business” marketing! Thank you for this post @NafissaShireen! https://t.co/d796CHiuO6
TY @ReadySetGrow @vividandbrave it’s all about the net for me.
Um, yeah! @NafissaShireen @vividandbrave