How Investing in Programs Will Scale Your Business
May 24, 2023
As I sit and write this blog post, we just passed the 1/2 million mark of revenue in our business.
When my husband told me, because he now does all the finances, it just sounded like a number at first. And to be honest, I was only half listening. Then I was like, OMG! It was just three years ago that this was a big nothing. And worse than nothing, it was a negative nothing. Is that even a word?
I remember so vividly asking myself, can this really work? Can I really do this? And day after day, I just kept going. Like the little engine that could.
I get asked a lot about what is the ONE thing I would do again as a business strategist to scale the way we have and I believe to my CORE that this one move took me from $1K to $500k. And that is high ticket investments.
You may know my background and that I started my business while working in corporate during the pandemic. I sold four spots for my first course at $250. At the end of the launch, I had a profit of $1K. (Not exactly something I could retire on).
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And then I did the thing most would not. I invested everything back and more. π€·βοΈ
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To date, I have been in three masterminds and have had multiple 1:1 coaches. Basically investing over $50K into support. I didn't have the capacity or time for 7 streams of income, I knew I needed experts, but also, I knew I would do whatever it takes to make it work. Will you bet on yourself?
You Can't DIY Your Business to 7-Figures
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All leaders have a squad, a support system. You simply cannot DIY your business to 7-figures. I am a firm believer that if you want to be a powerful leader you have to have friends, coaches, and leaders help you dial it up a notch. You cannot do it by yourself.
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So I built my squad and this month we passed 1/2 million in revenue. π₯
If you would have asked me two years ago if this was possible, I would have said "maybe" to be honest. π€·βοΈ But my mentors and my squad helped me make it a "hell yes". And now, we are on a path that is bigger than I could have ever imagined. Because it is not just me.
But instead of me just telling you what worked as a business strategist, I want to dig into what to ask to see if a high-ticket investment like a female entrepreneur mastermind is right for you. Whether it's ours or anyone else's. Because their questions have been important on my journey and hopefully will be yours too.
#1 Know Who The Program For
Make sure you KNOW who the program is for and make sure the program aligns with your specific business objectives and is tailored to your needs and goals.
If it is for service providers only and you have a product (like a small business planner), it's not a good fit. This is an easy example, but get specific.
Ask what the structure is and make sure it aligns with your learning style. Do you prefer 1:1? Do you prefer group coaching? How do you get feedback and ask questions? This should all be laid out. And if it isn't you should ask.
We actually implemented anonymous feedback forms in our mastermind for this reason. Every week you can go in and fill it out and give feedback, ask questions, etc. in a way that feels safe for you.
#2 Ask For Testimonials
Referrals are always (in my opinion) the best, but be specific. Who were they and what did their business look like when they started the program? Where are they now? What would they say to someone on the fence? How has the program changed since they were in it? Or how has the business strategy coach changed? We are all evolving. Reach out to previous students or look for testimonials on their websites. Success leaves clues.
#3 Know your Finances
This is the sticking point for a lot of people, including myself. I have invested over $50K in masterminds alone. In the beginning, I took a lone from our personal finances to pay for my business because I wasn't making that kind of money. What are your finances? What does the program cost? And what plans can you come up with to be comfortable? The WORST thing you can do is invest in a program and then stress the entire time that you are not making the money back.
It's like saying I am going to pay $100,000 for a college education but if I don't make it back in six months, it wasn't worth it.
I would argue my $50K MBA is still working for me today, so there is some lag and lead time you need to consider. I did a whole blog post on the energy around financial commitments.
But the bottom line is you should know what it costs and what is included.
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#4) Trusts your gut
Getting to the next level is never going to be easy. Period. Every time I have joined a mastermind or hired a personal coach I am challenged from day one. If you want to stay in your comfort zone high ticket support is potentially not the best fit. If you keep doing things the way you always have, you will keep getting the same results you have always gotten. I am a huge believer that you almost always know the answer to what you want to do within the first five minutes. The problem is then we let fear creep in and overanalyze it to death. You know what you want to do. The question is how do you move fear aside and go and do it? What is your intuition telling you?
#5) The coach and the program are 50% - it's a partnership
No matter what you invest, there is never going to be ONE solution that is the golden ticket. If you find it, let me know. You should trust the business strategy coach and the program but you are the one doing the work. Going back to my original story, do you trust yourself to take the right steps and stay accountable?
By assessing your financial situation, level of experience and knowledge, business goals and objectives, and community and support needs, you can make an informed decision about whether a mastermind program is the right investment for you and your business. But honestly, for me, it comes down to asking questions and trusting my gut. I truly try to put the investment piece aside because it is exactly that. An investment. If I woke up every day and keep thinking, I need to make $50K back, it would have never worked.
Trust yourself. Trust the process and make an informed decision, an investment in your future.
The word mastermind gets thrown around a lot and is not something I take lightly. I designed ours differently. You get 1:1 access to me, my team, and sometimes even our family makes an appearance because you need a squad. β€οΈ The support, the strategy, the network. All of it.
If you are still reading and have this nudge you know you are ready to take the next step and explode your business...I want you to imagine nine months where you could be with this type of support.
Because I know what you want:
- More cash in the bank
- More time in your days
- More teammates for support
- More leads on your list
- More clients on your books
- More confidence that what you’re doing is going to work
- MORE, MORE, MORE
Next Steps
I WANT you to succeed and feel supported in every way. And yes, that even means financially—so if a custom payment plan is what we have to do in order for you to finally experience financial fluidity in your business—let’s do it. I am right here along with you, holding your hand through the finish line....oh and we have a squad of over 50 alumni ready to help too!
I am in the business of transforming lives and I know you are too. β€οΈ
Regardless of what program you choose next, I hope this framework, these questions, and even my journey inspire you to take the next step.
Looking for more on this topic and your High-Level Action items? Check out the Strategy Lab in the Crush the Rush Club!
