Only 2% of businesses owned by women will ever cross the million dollar mark.
The first time I read that statistic all I could think of was, WHY??
Why is it so hard for small business owners, including course creators just like you, to move from five to six to seven figures in annual revenue – and what exactly are those that ARE moving past seven figures doing to achieve their success?
When I first started my business journey I promised myself that if I ever made it past 7-figures I’d show other folks how to do the same.
So, today I’m sharing the top three mistakes that are likely preventing you from reaching your first six or even seven figures – and you might not even realize that you’re making them!
My name is Caitlin Bacher, 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. I’m sharing revealing insights about what it really takes to scale an online course business to millions of dollars per year. Join me here to discover the tough decisions I’ve had to make, the biggest failures I’ve had to bounce back from, and the learnings that emerged every step of the way. I’m so grateful that I have the chance to tell you everything right here on Scale With Success®: The Podcast. Let’s get started.
Today we’re talking about the top three mistakes preventing course creators, like you, from reaching your first 7 figures in annual revenue.
Mistake #1: Trying to do more of the same.
Doing more of what works, won’t work to help you scale.
Everything you’ve been doing worked well to get you to where you are right now. But, you don’t want to be here – you want to be waaay over there. Doubling, tripling, or even 10xing your annual revenue.
Results like those don’t come from doing more of the same. They come from doing things differently.
I get DMs from people everyday who tell me they are stuck in the launch model and they’re SO frustrated. They’ve tried evergreen in the past by attempting to repurpose their live webinar into an automated funnel and have learned the hard way – that process doesn’t work.
What worked live in terms of your messaging or even webinar copy will not convert well in automation.
So, simply trying to put a recording of your live webinar into a generic automated webinar funnel might get you one or two sales – but, it won’t scale.
That’s because the buyer’s experience inside a live launch is much different than inside an automated funnel, which is why when people who have launched before join our program, they create a new funnel from scratch – one that is specifically designed to convert on auto-pilot.
Mistake #2: You’re solving the wrong problems.
If I had a nickel for every time I’ve ever heard a course creator tell me everything would be fine if they could “just get more traffic”, I’d have enough money to buy Disneyland.
No matter what size your business is, getting more traffic will ALWAYS be a concern because the goal post is always moving.
Do you want more leads? Yes, of course you do – so does everyone else.
Successful Scalers take a balanced approach to scaling their business – without obsessing over traffic alone – increasing their revenue while maintaining (and even increasing) their profitability.
So, how do they do this?
By continuing to invest time, money, and energy in optimizing their sales funnel FIRST – and by doing that…they often find they need WAY fewer leads and much less traffic to meet their revenue goals.
That means more revenue, but also more profit.
Which is why it breaks my heart when I look at a course creator’s funnel, see LOADS of glaring mistakes that if FIXED would result in an immediate increase in new customers, but they’ve convinced themselves they have a traffic problem, not a sales problem.
And they spend all their time jumping from traffic tactic to tactic, thinking if only they had the right traffic strategy everything would fall into place. But, the whole time they are sending all that traffic to a leaky funnel and all their profits are going right down the drain.
Mistake #3: You’re waiting for confidence to come before moving forward.
You need to have courage, not confidence to achieve your biggest revenue goals.
Show me someone who makes 10x the revenue you do and I’ll show you someone who has made 10x the mistakes that you have. Someone that’s taken 10x the risks – EVEN IF they feel scared, uncomfortable, or overwhelmed.
Successful Scalers don’t wait for confidence to come, they create it. They muster the courage to take action and move forward even when it seems impossible, scary, or unclear.
Having the courage to move forward and learn how to overcome unexpected challenges makes you stronger, more capable and THAT leads to more confidence.
The courage to keep going even when it feels uncertain CREATES confidence – not the other way around.
So, you don’t need confidence to move forward, you need courage.
I appreciate you being here today and 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!