10 ways to your next $100k
This episode is not a “get rich quick scheme”, but rather is a proven framework for how you can sustainably grow your business by $100k (and more)!
In this Episode:
- 03.20: How to develop a super clear vision
- 05.25: Why you need to identify your ideal client
- 06.20: The key to developing a rock solid marketing strategy
- 08.40: How do you show potential customers that they can trust you?
- 09.30: The importance of monitoring, reviewing, and adjusting!
- 11.00: How to plan your time
- 12.22: How exactly does self-love help me make money?
- 13.25: Why and how to build an amazing team around you
- 14.14: The importance of working on your money mindset
- 16.20: The key to being consistent and persistent
- 17.02: Why celebration is key
Whether you are chasing your first a $100,000 in business, or whether you’re wanting to add another $100,000, or even several $100,000 to your business, today I want to share with you, 10 ways to your next $100K.
Now, I know this stuff works, because I have helped clients of mine grow by literally $100,000. How cool is that?! This isn’t a get rich quick scheme unfortunately, it’s not some cheat sheet to get there, rather it’s more like a sustainable framework for how you can literally add your next $100,000 to your business. I hope you enjoy!
You’re listening to the Clare Wood podcast, where we talk all things business, finance, marketing, and mindset for entrepreneurs, sharing practical tips, and actionable advice to help you take your business to the next level. Introducing your host: me! I’m Clare Wood, I’m a numbers geek, a travel lover, and a reality tv addict, and I’m here to empower you to create an extraordinary business and an amazing life, because I believe you don’t have to choose between the two. Now let’s dive right in to today’s episode.
Before I get into today’s episode, I want to do a shout out to someone who left me a review. And that special someone is actually a client who I coached many years ago, she is seriously the most incredible make up artist, she’s an absolute professional, and regularly works with celebrities such as Emily Skyefit, does make up for the Logies, magazine shoots, and of course on the very rare occasion, if I get my makeup professionally done, it’s with her.
I wanted to read out this review by Reanin Glah, which says, “I took so much away from our coaching sessions, but this podcast offers new and evolving insights too, I can’t stop listening!” Thank you so much Reanin, and please make sure you go and check out her work on her Instagram account at reanin.glah. If you do leave me a review, please make sure that you leave me your business name with your review as well because each week, I’ll be reading out a review or several reviews.
Right, now let’s get into it! As I mentioned in the intro, today’s episode is based off one of my most popular freebies, which is: Ten Ways to Your Next $100K, or your next $100,000. This freebie and this framework is available in the show notes for today’s episode at Clarewood.com.au/podcast.episode8
Now, as I mentioned, this is not some get rich quick scheme, but rather this is a framework for building a sustainable business that you’re setting up for long term growth. So today I’m gonna walk through the ten ways, the ten stages of this framework, and share with you, how I have seen this transform both my business, and that of my clients.
The first step is to develop a super clear vision of exactly where you want the business to be. Now that sounds really simple, right? But guess what? I heard it first hand that virtually all business owners don’t have a crystal clear vision for their business. So the first step is work out exactly where you want to be, and if you know what that looks like, chances are you have a much better chance of getting there.
If you need some help setting your vision, what I’d say, allow yourself to dream big! So something I always say to clients of mine is imagine if anything was possible, like anything, if you could be a massive name in your industry, if you could be changing the world in a certain kind of way. What would your business be? And when you write it down, I’ve got a few check-points to check that this vision is quite robust.
The first one: is it aligned to your values? So what gets you excited? What lights you up? What makes you really want to jump out of bed everyday?
The next one: is it clear and measurable? So, on this front, pick something that is almost quantifiable. So, I am the go-to person or the best person, or my business serves, or my business has saved fifty thousand turtles, or I have donated a hundred million dollars to charity. Make it something that is really quantifiable and really tangible.
And the last thing that you just want to check: is this a really big goal that you want to work towards? So don’t allow yourself to think small here. This is the big exciting sexy vision, this is the big dream that you’re chasing. So make sure that it’s something super inspiring!
The next step to growing your business is to identify your ideal client. Now this process is a massive exercise, it’s something that I spend a massive chunk of time working on with my client when I do one-on-one coaching. But the process is more than just writing out a list of traits, this is about actually getting right down into the nitty-gritty of which clients you love working with. So get super specific about who these clients are, their likes, their loves, what makes them tick. Everything that you uncover here, literally forms the foundations of how to market for them. So understanding this step is absolutely crucial if you want to be growing your business by hundreds of thousands of dollars!
So after you’ve gone through that process, which leads me to the next step, or the next way to your next a hundred thousand K, which is develop a rock solid marketing strategy. Based on the prior step we know who our dream clients are, now how do we go about finding them. Now what you want to do is create a strategy with a range of different ways to find potential customers, and then once you’ve found them, how do you get them to know, like, and trust you, purchase from you, and then come back again and again?
I’m giving away all of my coaching secrets here but basically the way that I think of a marketing strategy is firstly you need to identify a number of different channels, and I always suggest five different channels is the right amount because I think anything more and your marketing message gets diluted, especially if you’re sort of a solo-preneur, as I imagine most of you are. So five different channels that you really do well. Then you basically have a funnel to cultivate those relationships from where someone has never heard about you and they first hear about you, and getting them through that process of knowing, liking, and trusting you, until they’re ready to buy.
This is honestly where I see a lot of businesses go wrong, because they have one key platform that leads them, their marketing strategy, and that’s kind of it. But the problem with that, is that if something goes wrong, then guess what, your potential clients and customers can dry up. It doesn’t matter how big your potential business is, if you stop marketing it, it can stop growing. Look at brands like Coke and Nike, these brands are still spending millions of dollars on advertising, even with such incredible, established brands such as theirs.
In terms of what these strategies might look like, they should be different for every business. With my clients, I completely tailor their strategy to their business, because there’s too much to cover here today; I think what I might do is go through another episode about this, and share a bunch of suggestions for different ways you might get potential clients to find your business. Once you’ve kind of gotten through that first stage about how someone can find you, the next step that I mentioned is how to get them to know, like, and trust you.
So how do you show potential customers that they can trust you? Well, think about your own behaviour when you’re going to work with someone or buy a product from them. For me, it depends on the price point of course. For me, it’s a reasonable investment, I might check out reviews, I might google them, I follow them on social media for a while, and maybe sign up for their newsletter, and think about how you are getting your potential customers to fall in love with your brand. On this note, you can go and create this marketing plan, this marketing strategy with the best of intentions, but sometimes even the best-laid plans don’t work. So, if they don’t work, you might need to change course or change direction with your strategy.
So this is the next step that I say is an essential component to adding a $100,000 more into your business: is to monitor, review, and adjust. So continually keep revisiting the results that you’re achieving and tweak your plans accordingly. Now, you might be thinking, oh my gosh I’ve gone through, I’ve done this whole process, how do I know whether it’s time to change the strategy? My advice here: hire an expert!
Now, I’m a coach, I’m a business coach myself and I regularly hire other experts to come in and help me with my business. Find someone who knows their stuff, and come in and do a course, hire them to work with them, you want to learn from the best, so before you just abandon ship on the strategy or the marketing plan that you created, get some advice from someone who is an expert in that area. If they come in and they think that it’s just not working for your business, then I think that’s the time to change course.
You don’t have to nail this the first time, its all just about trying, then adjusting when appropriate, but please don’t just jump around, its not about chopping and changing willy nilly, its more about taking measured and considered changes if your strategy isn’t something that’s working overtime.
Now, the next step in the ten ways to a $100K, is to plan your time. Now, I’m not talking about a detailed plan here. What I’m talking about is to make sure that you spend a good amount of time working on your business as much as you spend time working in the business, because it’s so easy to get caught up in the busy-ness of the day-to-day, but without stepping back, and doing some strategic work, and investing in the long term steps that will set you up to that vision that you want to achieve, you’ll find that you’ll get caught up floundering in the busyness and not actually transforming your business at a macro level. So what does working on your business look like? Well, to me that’s planning, reviewing financials, and of course: marketing!
Marketing, marketing! I cannot stress enough how much time, especially if you’re a service based business owner, that you need to spend getting your name out there, connecting with other businesses, and letting them know about yourself. Same, if you’re in a product-based business, you need to be promoting your business, you need to be making sure people can find your business, and learn about it so that they become paying customers, paying clients.
Way number six: look after yourself! You might be thinking, here we go on the self-care thing again, how exactly does this help me make money? Well, trust me on this: because burnt out people burn out, so you need to take time for yourself, exercise, laugh, dance, sleep. Because if you just keep churning, and churning, and churning, you won’t be able to keep at that level where you achieve long-term results. Everyone has a different version of self-care, and you just need to do what’s right for you, and I’ve mentioned earlier episodes, for me, self care looks like, from a morning walk each day, to I try and get to the gym each day, and then I have some me-time to go and get my nails done, hang out with friends, and just not think about work for a night or an afternoon or whatever it might be. So, actually taking time for yourself is an amazing way to set yourself up for long-term success.
Way number seven: build an amazing team around you, because again, if you’ve got big dreams, if you want to achieve incredible financial results in your business, it’s pretty unlikely that you can do it all on your own. Now, building a team doesn’t mean that you have to have a big fancy office filled with people in suits, but it just means that you create a framework of support around you including experts who can help you really up level your business. I recently did a whole podcast around building your dream team, which is episode number four, so if you’re unsure about how to get started, or how to continue to leverage and build your dream team, make sure you check out that episode.
The next step, this one is huge, in fact I’m gonna put it out there and say, this is the most important step if you want to grow your business by a $100,000, or even much, much more. And that is to work on your money mindset, because what you think about, is what you create. So if you don’t believe that your business will do and achieve amazing things, it probably won’t. So you need to take time to focus on manifesting, and attracting opportunities and money towards your business. If this is a new concept to you, you might not know what money mindset looks like, so here’s some tips of exactly how to work on your money mindset: listen to mindset podcasts; you need to really immerse yourself in this stuff, and start to really understand it and believe it. In the show notes for today’s episode, I’ll share some of my favourite mindset podcasts, I also recommend reading money mindset books, again I’ve got a few favourites I’ll include in the show notes.
Another one is try EFT or tapping, again you can Google EFT or tapping for money mindset for free on Youtube. You can follow inspirational mentors, and people that have walked this path before you that can share exactly how they’ve achieved their success, start to surround yourself with it, start to believe it, start to watch people, start to engage with people, that are doing what you want to do. This is all about changing the way that you look at money, and the possibilities around money. And once you start to believe that you can achieve amazing things, once you start to believe that you can add another $100,000 to your business, or several hundred thousands, or even millions of dollars to your business, it is honestly the first step to starting to shift to achieving it. I know we’ve been going for awhile now but thank you so much for sticking with me so far, we’re getting close to the end..
Way nine is another really important one, which is to be consistent and persistent. From my experience in the entrepreneurial space, there’s no such thing as an overnight millionaire, and success takes time, so you have to keep showing up, keep delivering great content, keep serving, and your dream clients and your dream customers will come to you, but marketing is a long term game. So you just have to keep showing up, and hang in there because I know it’s tough but you just have to keep believing and got to keep showing up, and this is honestly such an important, important step towards moving to your next a $100K.
And the last way that I believe you can help your business grow is to celebrate and now this might sound a bit like how exactly is this going to help me? And I’ll tell you how celebrating is going to help you; because when you take time and you celebrate when you achieve your little milestones, whether it’s a small milestone or a larger milestone, what you’re doing is basically training your subconscious -hey guess what, you did a great job, I really think that you should do that again! So I really think that taking time to celebrate your successes is an absolute foundational part of setting yourself up to growing your business by $100,000.
Just to sum up today, what we went through: the ten different ways to grow your business by a $100K: Number one; develop clear vision of exactly where you want to head. Two; identify your dream client. Three; develop a rock solid marketing strategy. Four; monitor, review, and adjust if it’s not working. Five; plan your time. Six; look after you. Seven; build an amazing team around you. Eight; work on your money mindset. Nine; be persistent and consistent. And Ten; celebrate your successes. Now, this epic downloadable of mine, Ten Ways to A Next $100K, is available in the show notes for today’s episode, as I mentioned earlier, its at clarewood.com.au/podcast/episode8. As I said earlier, this stuff really does work, I know how hard you’re working, and I know you feel weary, but you probably feel hopeful; my advice to you today, stay in the game. If you keep on working, and you keep on believing, the sky is the limit to what you can achieve. Today I’m telling you, if you want it, it is yours. Thank you so much for your time today, and I’ll catch you guys next week.
Thank you so much for joining me today, if you enjoyed this episode, please make sure you subscribe to receive future episodes, and I’d be so grateful for a review on apple podcast! If you’d like a copy of the show notes or any of the links mentioned today, please jump over to clarewood.com.au/podcast and remember that Clare is spelled CLARE, have a wonderful week and look forward to chatting to you again soon!
About your host
Hi, I’m Clare Wood – I’m a numbers geek, a travel lover, a reality tv addict, and a passionate business coach. I’m here to empower you to create an extraordinary business and an amazing life; because I believe you don’t have to choose between the two.