Caitlin Bacher:
Episode 80: 4 Core Beliefs That Are Rapidly Draining All Your Profits
Have you ever felt stuck in business and that no matter how hard you tried, your revenue just wouldn’t budge?
Well, the feeling of hitting a personal revenue ceiling is real, and it’s one of the most frustrating things you will ever experience in business.
You keep pushing, but nothing is moving.
And maybe you’ll even start to wonder if the next level of success just isn’t possible for someone like you.
Not today.
Today we are diving deep into what is really holding you back from shattering that revenue ceiling once and for all, unlocking limitless growth for you and your business.
I’ve identified 4 core beliefs to let go of today so that nothing is holding you back from reaching the next level of success.
So let’s get started.
My name is Caitlin Bacher, founder and CEO of Scale With Success®, and I’m on a mission to help course creators all over the world grow their business in a way that is profitable and scalable. We are sharing revealing conversations about what it really takes to scale an online course business to millions of dollars per year. Join us here to discover the tough decisions we’ve had to make, the biggest failures we’ve had to bounce back from and the learnings that emerged every step of the way. We are so grateful that we have the chance to share it all with you right here on Scale With Success®: The Podcast Built for Course Creators™. Let’s get started.
Whenever I speak with course creators about scaling their business, they think they need to do more of the same, “I found what works, so I just need to do more of it to increase my results“.
The problem of doing more of what works now is that what you’re doing now has brought you to where you are right now.
But you don’t want to be here right now, you want to be over there.
You’re looking to double, triple, or even 10x your revenue, and results like those are not going to come with doing more of what works.
That kind of growth takes real transformation and change, not just with your sales and marketing strategy, but with your mind.
So let’s get into 4 beliefs that you must let go of in order to get the results you want.
Belief #1: Some people just aren’t good at sales and marketing.
Listen, it’s not about being good at sales and marketing, it’s about finding a method that works for you.
Sales and marketing are skills that can be developed over time just like any other.
Now there are loads of sales and marketing methods floating around the internet, but the truth is that many of them are wildly ineffective, which means that no matter how hard you try, they just won’t work.
So if you are struggling with online course sales right now, there’s a good chance it’s not you, it’s your strategy.
And that’s great news because your strategy can change, but you have to be willing to change it.
We have clients that have gone from one or 2 sales a month to 52 in their first week of turning on their Profitable Sales Engine™.
Same person selling the same course, but marketing and selling that course in a different way.
Another client went from $30,000 in annual course sales to over $650,000 in less than a year.
Same person selling the same course at the same price, but marketing and selling that course in a different way.
If you want the exact same sales and marketing method that they followed to get those results for themselves after years of being stuck, then click the link around this episode and sign up for my free class.
I know that doing the same thing in the same way, year after year, can feel safe, but if that’s not giving you the results that you want, then something needs to change today.
Belief #2 that is rapidly draining your profits: conflict is bad and should be avoided.
No, no, no.
Growth requires change and change isn’t possible without conflict, which means avoiding conflict is avoiding growth.
Learning something new can create an abundance of internal conflict for course creators.
While struggling course creators make the resistance, questioning, and discomfort that comes with learning something new mean that they should go back to the safety of their comfort zone where they will get the same disappointing results, successful scalers understand that all of those feelings are normal and they recognize this internal conflict as an opportunity to strengthen their resolve and come back stronger.
You cannot tell me that you’re committed to growth in the same breath that you say you want to give up because the new thing you just learned just doesn’t make perfect sense to you yet.
The key word is “yet“.
If something doesn’t make sense, that’s a sign that your belief structure is about to shift.
It’s a sign you are engaged and that the new things you are learning are causing you to question what you once believed to be true.
And questioning those beliefs doesn’t mean you’re wrong, it means you’re growing.
But struggling course creators are often more committed to being right than to actual growth.
Ask me how I know?
Yes, like most people, I like to be right, and it took me a couple years in business to learn that being right was costing me everything.
I would argue for my limitations until I was blue in the face, failing to recognize that my desire to hold on was bringing my success to a screeching halt.
Growth comes from letting go of beliefs, strategies, and behaviors that are holding you back, and that isn’t always easy, especially when you fight it.
Imagine how much easier growth could be and how much better it would feel if we normalize those initial feelings of discomfort and just trusted the process.
Belief #3 that is draining your profits: there is only one right way to do something.
Listen, there is no such thing as one right way, only a right for you way.
And that right for you way will change as your business grows and your priorities shift.
Launching does not make sense for my lifestyle, it just doesn’t.
It never did and it probably never will, but that doesn’t mean that some people don’t love launching.
And that’s fine for them.
There are so many different ways to scale an online course business to 6 or even 7 figures.
It’s just a matter of finding a method that is right for you and is aligned with your values, goals, and lifestyle.
The same thing goes for organic and paid traffic, both work very well.
It’s just a matter of figuring out which is best for you at the level you’re at now and capable of taking you where you want to go.
So applying strategies and tactics that are designed to help a business go from 7 to 8 figures will actually break a business that is just trying to reach their first 6 or 7 figures.
And that’s why it can be so confusing when you try to emulate what others are doing who already have multi 7 figure businesses.
Everything I teach inside Scale With Success® Accelerator is designed to help you reach your first 6 or 7 figures in annual revenue.
And it’s true that many of those strategies will carry on for you once you surpass your first million and get up to 2 million per year, 3 million or even 5 million per year, but they will likely look a bit different.
That’s because by then you’ll have built out your team and can add way more bells and whistles to your sales and marketing efforts.
But getting to your first million doesn’t require bells and whistles, it requires focus and simplicity.
And if you want to learn more about the approach my clients use to generate 5 and 6 figure months consistently, then make sure to sign up for my free masterclass.
Belief #4 that is costing you major profits: a bigger business leads to burnout.
A bigger business doesn’t lead to burnout, behavior leads to burnout.
Have you ever heard that phrase, “Everywhere you go, there you are.”
Whenever clients ask me what it’s like to scale a multimillion dollar online course business, that’s my answer.
The reality is that if you are desperately holding onto old beliefs and behaviors as your business grows, eventually you will burn out.
There’s no way around it.
I’ve spent years working with high performing CEOs who have scaled their business without burning out and others who have, and I can assure you that the bigger business is not what causes the burnout, it was the behavior.
And I’m not saying that scaling doesn’t come with discomfort.
As we discussed earlier, discomfort is required when it comes to growth.
But if that discomfort triggers you to hold on even harder to everything you believe to be true, then you will turn that initial discomfort into pain and even worse, burnout.
There have been a number of times in my business where I’ve found myself in that exact situation.
One of my coaches once told me that holding on as tightly as I was holding was the definition of slamming your foot on the gas and the brakes at the exact same time.
The problem with being in that situation is that most of the time you aren’t able to see it.
The harder it becomes, the harder you hold on until you suddenly realize that you absolutely cannot hold on any longer and you believe that you failed because you did not hold on when in reality the failure was that you didn’t let go.
This is why we offer strategic coaching as part of our Scale With Success® Accelerator and Scale With Success® Momentum programs.
Because part of accelerating and then building sustainable momentum over time requires an ongoing process of letting go.
The faster you let go of those beliefs and strategies that no longer serve you, the faster you’ll scale.
To recap, here are 4 new beliefs to replace the old ones that just don’t serve you anymore.
1. It’s not about being good at sales and marketing, it’s about finding a method that works for you.
2. Growth requires change and change isn’t possible without conflict, which means avoiding conflict is avoiding growth.
3. There is no such thing as one right way to do something, only a right for you way.
4. A bigger business doesn’t lead to burnout, behavior and the beliefs that drive that behavior leads to burnout.
I appreciate you being here today and make sure to tune in next week for another episode of Scale With Success®: The Podcast.
Are you sick and tired of launching and looking for a proven method to generate consistent revenue from your online course on auto-pilot?
Sign up for my free masterclass, “How To Generate Launch-Sized Revenue Without Launching” and I’ll show you how our clients are making MORE money in LESS time than they ever did while launching.
If making sales everyday in a way that is completely automated and doesn’t require paid advertising sounds good to you, then click the link around this episode and sign up for my free masterclass today.
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!