Just had a coffee with a young ambitious entrepreneur. He just gained his first $3000/m retainer client.
He expressed he wanted to keep growing… but didn’t want to get caught in the hustle & grind mentality that so many others do.
He asked how could he get around that? What would be the KEYS to succeeding in this expert-business for years to come?
So I told him.
1. Long-term planning
The ability to think, project and act with long-term interests is one of the most critical pieces of the puzzle.
Those who can estimate the future the closest will usually create it.
Most coaches waste hours of times researching tactics, tools, softwares they can use to ‘get an advantage’.
Sure they help, but I can find someone in 5 minutes whose already immersed in the tactics. And they can usually deploy them for me for under $50 an hour.
I spend my time understanding the ECOSYSTEM of my business, my industry.
The trends that are influencing business, legal structures, attitudes and behaviours.
2. Understanding the Lifecycle of an Industry
I’m known for being ahead of the curve and doing things people can’t understand…. when a few months or years later it becomes more obvious.
For instance, I started using my FB Ads to promote CONTENT back in 2012… when everyone else was trying to drive only sales calls.
I offered mentoring 3 years ago, when everyone else focused on memberships.
I’ve been acquiring equity stocks in multiple companies & my best clients since 2014.
And launching apprenticeship based programs to create a pipeline of TALENT, not just clients.
These decisions are all based on trends.
Trends like Facebook ad costs inevitably increasing year on year.
Like regulation of our industry and dumbing down of advertising.
Like the growing workforce available to you as the industry of experts grows and grows.
Working in the present (insight) isn’t enough.
Looking at the past (hindsight) isn’t enough.
The real key? Foresight. Looking into the future.
Hindsight,
Insight,
Foresight
Cover all your bases and you’ll have the best chance of growing steadily.
3. Growing Assets, Not Just Revenue
Business is a game of investing.
To me, a business is an investment vehicle.
Therefore, I acquire, and appreciate assets.
These assets then work FOR ME, instead of me working for cash.
The key assets (as I teach inside my Expert-Business Blueprint mentoring program) include:
– Your energy, time & money (personal assets / health)
– Your business cashflow and profits (business health)
– Your network of connections
– Your talent pool / team members
– Your social proof and Expert Authority (brand)
– Your audience / lists
I focus on growing and appreciating EACH of these in value every day. For instance,
✓I start the day with my own health & balancing rituals.
✓ We widen profits by increasing LTV and lowering CAC
✓ I’m always nurturing relationships with potential clients, connectors & collaborators
✓ My team member funnel provides a growing pool of potential team members & apprentices
✓ We post, repurpose & promote content & social proof to grow reputation
✓ And I invest money into audience building (and nurturing) every single day
Focus on appreciating your assets, and the revenue seems to follow.
What I teach solopreneurs who want to escape the grind and grow REAL businesses is so different to what most see…. probably I’m a business owner first, and a technical expert second.
I own numerous businesses that run and grow without my daily input. Because I’ve empowered teams,
Implemented systems
And created long-term financial forecast & strategies.
Its not the easiest road. It takes the longest to ‘get going’
But everything I’ve done over the last 5 years has brought me to this point.
I don’t do ‘sprints’.
Because business is a marathon.