…CASH IS REALITY.
And it’s not just how much you make, but HOW you make it, and how much you keep.
How long did it take me to grow a million dollar business?
I started off online in 2004 with just one ebook, but I coasted for a while. When I found out I was pregnant with my first son in 2006, I knew it was time to raise my game. I doubled my sales that year to $180k largely through sweat, and then at the beginning of 2007 I needed a smarter way of doing business, I signed up to work with a mentor.
I invested a lot in my business that year. Aside from the mentoring, a new website, growing my team, I also hired a consultant to help me create my first big product, and launched that in the summer of 2007. I also did my first 3-day event and offered my first high-end mentoring program. By the end of that year I’d doubled sales again, but it was by focusing on 2-3 key projects whereas previously I’d been spreading myself too thin.
By the end of 2008 I was envisioning myself the goal of reaching a million dollars in revenue , and then found out I was expecting son number 2. At first I thought, now I won’t make the million, but then I thought, why not? If I’ve set this target and the next thing I discover is that I’m expecting, maybe having this baby while reaching a million is part of the plan.
Turns out it was. I say if you think working to a deadline makes you productive, then try working to a birthline.
I put many systems in place before JJ arrived, handed over way more to my team than I had done before, and we even did an ‘automated’ launch while I was on maternity leave.
But I was obsessed with the million dollar target, so when I realized I was probably going to end the year at $800k, I hired a coach for $100k to help me reach $1m. Looking back I can see that I was driven by ego and my ‘need’ to reach $1m. That’s what I mean when I say turnover is vanity. ( Oh and if you’re wondering how it worked out, I ended 2008 just shy of $1m in sales. )
2009 I finally did reach $1m in sales revenue (hurrah!) and for the next couple of years sales continued to grow, but I was still too focused on sales instead of profit. My business was getting more and more complex, increasing team, lots of launches. So I was successful, but it was hard work.
By 2011 I had my first ever $200k month, and I could see it was possible to reach $2m in annual sales! Again striving for turnover out of vanity.
Then I got a big wake up call in 2011 when my son JJ nearly died right at the time I was supposed to lead a 3 day event in London. It was a massive wake up call for me, and I spent many nights sitting next to his hospital bed while he was sleeping taking a good hard look at our life and my business model. I wasn’t happy with the way I was working, and I wasn’t happy that my ‘freedom’ business had grown into this machine that made so many demands upon me and my family.
I decided to stop doing the big launches, stop doing big events to fill coaching programs, decided I would now only do events on Irish soil (where I live), and discontinue most of my products. I wanted to serve my clients better and so I restructured my programs. I reduced my team, and let go of the offices I thought I needed to house my team!
Since then I’ve completely re-engineered my business.
For a couple of years sales dipped below $1m, but I was making much more profit than I was before and working in a much healthier way. My adrenals thanked me for putting an end to the ‘big launches’. I work less than 20 hours a week in my business now, 3-4 hours each week is coaching clients through my group programmes and the rest is creating content or sales and marketing. I can honestly say I’ve never been happier in my business and life.
Paradoxically I am now more available to my clients, so if a client needs me it’s easy for me to jump on a call with them and offer assistance at short notice, because I’ve set up my business and life that way.
I’ve focused on evergreen and automation. Automating sales and marketing, automating fulfillment. Having rolling enrollment for all my programmes so I don’t have the drama of ‘have to get this many people by this date’ and when the perfect client shows up I always have something to invite them into. I pay far more attention to profit and after many years of reinvesting profits into my business for growth I am now investing in my personal financial future. (Let’s just say I got another wake-up call when I realized that considering all the millions of dollars I’d made online my personal pension pot didn’t reflect that!)
I now have a business model which is very scalable. I am reaching and serving clients all over the world through leverage, not life-force.
I took the time to write this post because I want to say to all women however much you choose to make in your business you can do it. The most important thing is to get a business model that works for YOUR life.
There IS a plan for you, even if you can’t see it yet. As Doreen Virtue once said ‘God doesn’t give us our dreams without the ability to make them reality.’
This month I’m launching a new Facebook Group for people committed to finding and following YOUR plan. If what I’ve said here has resonated, then I’d be honoured if you’d join me because I’d love to help you get on track with YOUR https://bit.ly/2uaKveq
See you inside