If you’re like most course creators, you’ve been told that “six figures” is that magical place where everything just clicks and things get much easier…so, now that you’re AT six figures – why does everything feel so much harder?
And if it feels harder, does that mean you’re doing something wrong?
Well, not exactly. You are doing all the right things to be right where you are right now.
But, the problem is that you don’t want to STAY right where you are right now. You want to grow!
I’m calling this FEELING of being stuck The Six Figure Slump.
Today I’m sharing a few common warning signs that YOU may be in The Six Figure Slump and some steps you can take to get yourself OUT of that slump and back into momentum.
So let’s get started!
Six Figure Slump Warning Sign #1: You don’t know where you’re going.
I have a group coaching program that focuses on sales and marketing called Scale with Success®. In that program we help course creators implement sales and marketing systems that help them generate consistent revenue without launching. Whenever our clients start generating 10k, 20k, or even 30k per month, many of them start to think “What do I DO with all this money?” They are so used to being in struggle mode to make even $5k a month that when $20k starts rolling in each month predictably – it feels almost TOO GOOD to be true!
They’re making more money than they’ve ever made before, which feels great – BUT, they don’t know where they’re going next and THIS is a problem. Many of them never dreamed they’d be making 20k or even 30k a month and they can’t even IMAGINE what it would be like to make 200k-300k/mo. They start to have all of these self-sabotaging thoughts like: What if I run out of customers? What if I just got lucky the last few months and everything is going to disappear tomorrow? What if my audience gets sick of hearing me talk about my course? What if I lose everything and I have to start from scratch all over again?
If you’re having questions like that right now, what I want you to know is THOSE THOUGHTS ARE NORMAL and just because you HAVE those thoughts it DOESN’T mean they’re true.
I know it FEELS like you’ve reached the top of the mountain, but the truth is you are JUST getting started. $10k, $20k, $30k/mo is GREAT – but, it’s just the beginning of what’s possible for you.
The antidote for feeling like you’ve reached the summit and have nowhere else to go is VISION.
Vision is the thing that you don’t have much time to think about when you’re in the trenches trying to build your six figure business.
When I was making six figures, it felt downright wasteful to spend time thinking about vision. I had things to do! Contractors to manage. Instagram posts to create. Emails to write. Who had time for VISION??? Not me! I’m too busy doing things that make me feel productive, that are well within my comfort zone, and that are keeping me stuck at six figures.
OH, wait.
So, it turns out that you won’t GROW unless you’re clear on where you want to GO.
When my clients inside Scale with Success® reach this realization, I know they’re ready for my new mastermind, Million Dollar CEO. They’ve achieved success and they’re ready for more – but they need help determining WHERE they’re going.
Creating a vision isn’t easy. Trust me, it’s a lot EASIER to focus on those comfort zone tasks like writing your Instagram posts and emails.
In Million Dollar CEO Mastermind, we give you the tools and support every six figure course creator needs to get clear on your vision. It’s a two year program with a one year commitment, so we attract people who THINK BIG.
Revenue goals will be part of that vision, but so is impact. I see a lot of six figure course creators start to plateau once they’re able pay off debt and take care of their bills.
They feel fairly comfortable and haven’t yet taken the time to plan where they’re going next.
Being able to pay your bills is important, but once you’ve had some success and made it to six figures – it’s time to think even bigger for your clients, your family and your community.
You have the ability to create a business that creates financial freedom for you and generational wealth for your family.
You can partner with non-profit organizations that are important to you OR even start one of your own.
You can build libraries, fund parks, and donate to causes that need your help.
You can build out your Leadership Team inside your company, increase salary and benefits for your employees, invest in their personal development, and create an environment where people LOVE to work.
Sure, you could make a bunch of money and keep everything for yourself – but if you’re like me – the fun part about making money is figuring out WHERE you’re going to redistribute it.
So, if you feel like you’re not really sure where to go next, START planning. Don’t worry about the “how” yet, just focus on the “what”.
Slump Warning Sign #2: You keep trying to emulate what others are doing.
When you are starting your business from scratch, it’s really normal to look at what others are doing. If you JUST started a business, you CAN learn a lot by watching others around you.
For example, I remember when I opened my first Instagram account. I looked at a bunch of popular Instagram accounts to see what they shared on their bio and what kinds of things they posted on their feed. Did I copy them? No, of course not. But, I had NO IDEA what I was doing and I needed to start somewhere.
But, as you grow your business beyond $10k/mo, it can be really harmful to keep looking at everyone else as opposed to staying focused on what YOU want to build.
The truth is, you don’t know what’s happening underneath the hood of many of the 7 and 8 figure businesses that you are attempting to model yourself on.
Did you know that many multi-million dollar businesses sell a $2k or $3k offer that they make NO profit on?
They’re not stupid, they’re smart. What you don’t see is the system they have that’s running behind the scenes to upgrade those students into their higher priced coaching programs.
Since they don’t need to make a profit off that front end offer – and it’s built into their business model – they are able to put in a lot of extras that YOU can’t afford to do…yet.
In Scale with Success®, we help people grow a PROFITABLE front end offer. Meaning, we show you how to generate consistent profits month after month from your front end course – whether that’s $497, $997, $1997 or whatever.
It’s the same method I used to generate my first million in revenue from selling a single $997 product. At that time, I didn’t have any extra coaching programs or masterminds to sell. So, my $997 program NEEDED to be profitable.
I didn’t have free tickets to a live event. I didn’t have perfectly branded gift boxes delivered to all my customers’ doorsteps.
I had a course that worked…REALLY well and it delivered on the promised result.
Instead of modeling the client experience you want to offer from someone else who is MUCH further along than you, why not take the time to get clear on the experience YOU want to deliver.
That’s leadership.
It’s understanding that you can’t compare your beginning to someone else’s middle.
It’s knowing that you AND your program have incomparable value that only YOU can deliver.
A lot of our Scale with Success® clients report that when they join our program, they made a conscious decision to STOP listening to outside voices – simply because it gets too noisy.
They’re trying to stay focused and build momentum by implementing the sales and marketing system we give them – and that’s difficult to do if you’re on 103 mailing lists from 103 influencers in your industry who are constantly announcing their latest podcast, their newest offer, or their next big retreat in Bali.
The reality is that you have a few random contractors supporting you a few hours a week and Million Dollar CEOs have a TEAM supporting their vision – so it makes ZERO SENSE that you compare yourself to them.
Will you eventually have a team to support your vision? YES, but only if you focus on the right steps at the right time.
In my Million Dollar CEO Mastermind, we show you how to build a lean, PROFITABLE team that can get you where you want to go.
Start simple and get fancy later.
My Million Dollar CEO Mastermind shows you how to create an environment of personal responsibility inside your six figure company and how to build a team of employees committed to making that 7-figure company vision happen, no matter what.
So, if you feel like you’re experiencing a bit of the Six Figure Slump right now, I encourage you to lean into Vision, where you can get clear on WHAT you are doing all of this for, and to lean into Leadership, where you can build a lean, profitable team that is committed to make your company vision happen.
Today’s episode is brought to you by Scale With Success® Accelerator — an online course designed to help you generate launch-sized revenue without lanching. If you want to learn MORE about our proven method for success, click here to watch my free masterclass. See you in there!