In this episode, Entrepreneur & Business Coach, Isaiah Colton shares amazing value and tips on becoming a 7-figure earner in your business. Ready to step up to the next level? Tune in and take notes!
Episode Goodies: Sales Acceleration Blueprint
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Read the episode summary below!
How to Become a 7-Figure Earner
According to Isaiah Colton, less than 7% of businesses ever make it to the 7 figure level during their lifetime! With his background in direct sales and marketing, Isaiah shares tips and his insight of how you can earn your first 7 figure income or move onto earning your second 7 figure income.
What Types of Businesses Have the Potential to Build a 7-Figure Business?
Isaiah believes that most businesses, be it service or product based, can build their earnings into a 7 figure amount but it all comes down to planning. Earning 7 figures in a service based business is much easier than you would think.
Think about what your business can achieve. How you see and work towards your goals is the basic foundation in setting a successful 7 figure mindset. For example, as Vanessa mentioned in the discussion, she limited herself in scaling her business because she felt the need to be in control of everything. Instead of building clients and having her team work with them, she tried to maintain a balance of doing both on her own and wound up being her biggest roadblock to scaling her business.
How Do You Start Making a 7-Figure Earning from Your Business?
The first step is to know yourself. The biggest mistake an entrepreneur can make is to create a business plan and just dive into it. What do you want? What do you value? In order to understand your path, you need to understand your mission. What’s your viral vision? A viral vision is set and formatted in a way that your team can get behind it and work with you towards your business goals. Once you know yourself, create a business plan modeled in a way that suits you.
The second thing to ask yourself is, “What type of lifestyle do you want to live?” A business is an extension of what you want your life to be. Look at your resources, your commitment and skill set. Based on this, you build your lifestyle and thought process towards your business. Why do you want to be a 7 figure business?
Next, understand the demand for what you’re doing. What niche can you dominate? How can you set yourself apart? What can your skillset do for you? One of the main reasons businesses fail is because as an entrepreneur you’re throwing all your ideas out there, hoping one will work. It’s more important to channel your focus and do your research before settling into a niche.
Once you develop the correct mindset, the next thing is to have an offer. Your offer needs to be different from what’s available in your niche. Make it irresistible! Would you pay double and triple for this offer? If you wouldn’t then chances are, people won’t either.
Think about how you’re getting this offer into the marketplace. What type of marketing works for you? Do you want to do events or sales funnels? Once you get this offer going, it’s important to track it and get referrals. Once you find your process, make sure you keep it simple and easy to follow for others — this will help you scale your business!
People on your team should be able to replicate the process in order for you to make your way to earning 7 figures.
Do You Absolutely Need a Team to Help Scale Your 7 Figure Business?
In the old school model of business, an expert would be the person at the base level to create a service or product and follow a business plan on their own to achieve their goals. As time moved on, the next level business owner used a team.
But now, the use of AI (artificial intelligence) is a great way to do what it takes to scale your business while you, as the business owner, push yourself to the finish line.
It’s about the tactical things for AI and the strategic things for the employees or partners to do.
What is the Biggest Challenge Stopping You From Reaching 7 Figures?
If you can’t see it, it won’t happen. Having the right mindset, being clear about your goals is the most important foundation for your business. The power of visualization is key. Making a commitment to yourself for what you want to achieve is the first step in scaling a 7 figure business.
See your business as a 7 figure business and implement a plan! Your thought processes will change, your attitude and mindset will change, and you will reach your goals faster than ever.
About the Author
Sonal Gadkar is a freelance writer for hire, based out of Long Island, New York. She writes long and short-form blog posts, provides content for social media (specifically for Instagram) and more! Need a writer? She’s your gal!
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