I am really looking forward to digging into today’s episode to help you create more time and money to invest in scaling your online course business with success.
Firstly, I just want to congratulate you on realizing that scaling a business does in fact require time and money.
As obvious as it may sound to you and I, there are loads of people out there who think that growing a business can be done with zero investment of time and money.
Even worse, there are those that perpetuate the myth that a business can be created out of thin air for FREE AND INSTANTANEOUSLY…causing those who ARE investing time and money to question if they are doing it the right way.
The funny thing is that those who try to tell you that you CAN create a business instantly and at zero cost are likely trying to SELL YOU something that WILL require an investment of time and money.
There is also a pervasive attitude, especially amongst inexperienced course creators, that it is somehow “wrong” to make an important investment to receive the help you need to grow your business.
And I get it, many of us course creators are extremely resourceful and scrappy – which is GREAT when you are JUST getting started.
But, if you become too attached to the identity of “I figure everything out for myself”, eventually you will find yourself in a STUCK situation.
Being “stuck” might look like a revenue ceiling you can’t break through, despite the fact that you’ve tried a million different things…it might look like encountering the EXACT same problem over and over again in your business…it might look like burnout or complete exhaustion…
The opportunity cost of FAILING to get the outside perspective you need to get to the next level is enormous and eventually it will catch up with you.
I was one of the first of my “business friends” to sign up for a mastermind. I had made about $50k profit that year and when I decided to invest $25k of it into a mastermind, there was A LOT of chatter about it.
“You don’t NEED that, Caitlin.”
“That’s a RIDICULOUS amount of money to spend, Caitlin.”
“Why don’t we just meet up and create our OWN mastermind for free, Caitlin?”
One year later, I had grown a million dollar business…while they were either hospitalized for burnout and making even LESS than they did before OR making the SAME level of revenue – but, at the cost of NEVER seeing their family as they kept trying a million different things to break through….
Where would I be NOW if I let those well meaning, but ultimately destructive, comments get to me?
What MOST course creators who are AFRAID to make a serious investment in their business, just like I did years ago, do not understand is OPPORTUNITY COST.
Now, I understand that if you are looking to make your first $10,000 in business, that it would make sense to invest in a $2,000 course.
The problem is when you TELL YOURSELF that continuing to invest in $2,000 courses is the fastest, most profitable way to build your six or seven figure business.
IT IS NOT.
In fact, it is the SLOWEST, MOST PAINFUL way to do it.
…and in today’s economy it’s nearly impossible.
The investments that got you HERE, won’t get you THERE.
Those $2,000 courses were great and important for getting you to where you are now, but the time has come to take a GOOD LOOK at your current set of tools and determine whether that SAME SET OF TOOLS is going to get you where you want to go.
The Sistine Chapel was not built with a set of popsicle sticks and Elmer’s glue.
Some folks are FINE with the level of financial security that a popsicle stick business provides and that is A-OK. Everyone has different goals. Some people want to build a business that generates $10,000 a year and that is ALL they want. No judgement! If you want that, and you have that….great!
But, if you WANT a business that generates, six, seven, eight figures a year…it’s going to require a lot more than a popsicle stick and a $2,000 course.
As I look through our client group right now, I see people posting that they have now generated in a DAY, what used to take them a MONTH to create.
Think for a minute how much money you generated last month from a combination of the 1:1 coaching you offer, services you provide, and courses you sell…
…do you typically generate $1,000 a month, $10,000 a month, $100,000 a month?
Now, what if you were able to generate THAT SAME AMOUNT in a DAY…EVERYDAY…and the process was entirely automated.
Building a business like THAT cannot be done WITHOUT money and WITHOUT time.
It requires an investment of BOTH.
So, the question is WHAT SHOULD YOU DO if you WANT to build a business like that, but need some help figuring out how to get there.
Step 1: Where do you want to go?
If you do not have a clear VISION of where you want to go, it will be impossible to create a plan to get you there. This will require you to stop taking action, for at least 30 minutes or so, so that you can clearly describe what you want your ideal business to look like.
When going on vacation, do you just hop in the car and start driving around without knowing WHERE you’re going first? Of course not! Doing that would be a HUGE waste of time and money.
You’d waste all your gas money driving around in circles…maybe you’d even run out of gas because you didn’t know how much you needed in the tank to get where you wanted to go…Before you knew it, your 7 day vacation would be OVER and you’d be stuck at a service station in a town you’d never want to visit again.
Do you want to create a million dollar business? Great.
Do you want to work 10 hours a week? Ok.
Do you want to automate sales so you can generate millions CONSISTENTLY? Awesome.
This is YOUR business we’re talking about and YOU get to define what a successful business looks like to you.
After you complete Step 1: Get clear on where you want to go…then it’s time to move onto…
Step 2: Who will help you get there?
When you stop spending time and money on things that don’t matter, you will find yourself with PLENTY of time and money to invest in the things that DO matter.
Way back in 2016, I decided 2017 was going to be my FIRST million dollar year. I had no idea HOW and because of this I needed a WHO.
Every single time I’ve made a clear decision that I wanted to CREATE something for myself, the very first thing I ask (after determining WHAT I want to create) is WHO will help me get there.
This is true for EVERYTHING in my life.
When I wanted a house, I found a realtor.
Could I have found my own house? Mayyyybe. But, I wasn’t looking for a temporary condo that I’d want to move out of soon after. I was looking for a house and I had VERY specific ideas about where I wanted it to be and what I wanted it to include. I could have “saved” money by doing it myself, but that likely would NOT be a savings in the long run. I probably would have made a bunch of costly mistakes that could have been easily avoided.
When I wanted to lose weight, I found a fitness program.
Could I have lost weight myself? TBH, no. If that were possible, I would have already done it. I wasn’t interested in losing weight for a week, I wanted to build LASTING results.
I wasn’t interested in piecing together a bunch of random gurus. I wanted something COMPREHENSIVE. I wanted to reach a specific goal by a specific time and that would NOT have been possible if I tried to DIY it. I had a very clear idea of what outcome I wanted to create for myself, I just needed a system that included clear steps, with plenty of support for when I tried to argue my way out of taking the steps.
So, after you ask yourself WHERE you want to go with your business and determine WHO will help you get there…that’s it!
You don’t have to WORRY about the how…which in and of itself will free up an enormous amount of time. You don’t have to WONDER if you’re doing things the wrong way…which ends up saving you a truck load of money.
As an online course creator, you have the unique ability to build a business that generates profits every single day in a way that is automated, giving you the freedom to do the things in your business that REALLY light you up.
It all starts with YOU…It’s not that you don’t have time…it’s that you don’t have time to lose.
So, let me ask you WHERE do you want your business to go and WHO will help you get there?
Want to learn more about turning your course into a real business so you can enjoy all the BENEFITS of consistent revenue in your business? Be sure to request to join my FREE private FB group exclusively for online course creators just like you by visiting caitlinbacher.com/group
Already in there? Amazing!! Make sure to follow me on Instagram and let me know which part of today’s episode resonated with you the most.
Thanks so much and make sure to tune in next week for another episode of The Caitlin Bacher Show.
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!
