When I first found out about this ‘Online’ world, I was amazed at the fact that women were making multiple six figures from home!
It made having an online business sound dreamy. You have a computer and POOF… you are magically eligible to travel and work from anywhere.
Laptop lifestyle anyone?
It was the complete opposite of the traditional corporate role I had for 10 years.
I started my career at AT&T as an IT Project Manager. From there I worked at E*Trade as a Senior. Financial Analyst. My last role was at TD Ameritrade as Senior Financial Systems Analyst.
#truthtalk – I love and enjoy working!
However, in 2011 I had reached a point where I knew there was something more to my life than traveling 2 hours to the office, working 9 hours, traveling back home 2 hours, and then working for another 3-4 hours before waking up and doing it again.
It was time for me to make a change, which led me to where I am today. Along the way, I learned a lot and so I want to walk you through the Top 5 Milestones in my journey – those actions/ decisions that set me on the path to being the CEO of a successful Online Business!
1) Find the right resources
When I decided to start a business, I wanted to provide a service I was good at. Excellent service delivery was my main focus.
I didn’t give much thought to Complete Business Operations. In my career, all I was responsible for was service delivery and keeping clients, partners and project sponsors happy. I knew I could do that in my sleep.
The biggest thing I believe most entrepreneurs overlook is the effort it takes to operate a successful business.
Being in business you have to know enough about all the parts… Sales, Operations, Finances, Managing Clients, Business Models, and more.
You don’t need to know everything. But, you need to know enough to get started and maintain your business growth… until you can hire support.
Where do you start?
Seek to expand your knowledge in areas where you are lacking expertise and learn enough to get you going.
For example, I needed to learn how to sell effectively. Sales is one piece of business that you must MASTER.
In the beginning, I was scared to sell.
… Sales seemed sleazy.
… Why do I need to convince people to buy from me?
… They should already want to buy from me.
This was a huge mindset fail!
I would attend networking events and hesitate to introduce myself to people because I wouldn’t know what to say or how to tell clearly describe what I do. In the end, it would be a waste of time to attend the event because I would leave having made not one new connection.
Reality is, there are hundreds of people vying for your ideal clients’ attention and they need to know that you are the solution to their problem. The only way to do that is to speak about what you do.
I started to read articles around generating leads, closing sales and attending events on sales conversion.
These resources expanded my knowledge of everything sales. Once I had the basics I was able to create my own sales systems.
The turning point for me was when a Mentor told me to treat sales as a conversation and an opportunity to create a new relationship.
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#WORKSMARTER TIP:
Create a list of the areas you need to learn more about in your business and plan to research one item per month for the next year. Set aside a few hours a week, be consistent and you’ll be amazed at your growth.
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2) Mentorship + Supportive Community
“Show me a successful individual and I’ll show you someone who had real positive influences in his or her life. I don’t care what you do for a living—if you do it well I’m sure there was someone cheering you on or showing the way. A mentor.” — Denzel Washington
So, once I had landed on a sellable service, I was ready. But I didn’t naturally know what was next to continue business growth. I began to google for more resources and tools. I quickly got tired of downloading the same PDF, 5 Tips, or Checklist.
I am the type of person who implements quickly so those resources fast became outdated and I wanted active support from someone who had actually been there.
In 2012, I joined a mastermind. It was the turning point for my business that gave me access to women:
- who were living the same life
- who understood my life
- who understood the ups & downs of being in business
- who enjoyed being an entrepreneur
As part of the mastermind, we met in person every quarter with our Business Coach.
Our Business Coach was steps ahead of us on her way to having a 7 figure business. I bought her business experience and knowledge as it would allow me to avoid unnecessary mistakes and delays in growing my business.
In addition to the in-person mastermind check-in sessions, we had a call twice a month. These sessions kept me to plan and gave me an opportunity to ask questions so I was not stuck and in my own way. I loved the access. I made sure to use all of the time wisely.
The in-person mastermind meet-ups were simply amazing. I always left with a plan, feeling reinvigorated and ready to conquer the next 3 months.
There is something about being in a contained and safe learning environment that allows your mind to open up and think about growth. The feedback from other knowledgeable members is invaluable.
I don’t know about you, but it’s hard to think about business growth when you are deep in the day-to-day of keeping your business above water. Having space to only work on the growth of the business is refreshing.
I have been in a mastermind or community ever since, this initial experience.
My business growth shows proof that mentorship and community have on your success.
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#WORKSMARTER TIP:
If you’re tired of doing business alone look for a supportive community that you can turn to and ask questions so you’re not stuck.
Business is already hard. Don’t make it harder. Get the support paid or free.
Take a look at my FREE Build a Business Blueprint for a supportive community and guided series to creating a profitable business in 5 days. →
www.BuildABusinessBlueprint.com
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3) From Part-time to Full time
In the beginning, no one has it all figured out.
I am a risk-taker as most entrepreneurs are.
But, I didn’t jump right into my business immediately. I held my full-time corporate job for 4 months while trying to figure out what the RIGHT business was for me.
What my business is today is not what it started out as in April of 2011.
Back then I was focused on ‘what’ I could do to make money. At this point, consistency wasn’t the focus for me. The job was the paycheck I needed to keep my lifestyle. Instead, I needed to make sure the ideas I had were sellable and that I could execute them.
I wanted to meet people who would hire me to document their systems, implement their automation tools, or hire and train their team.
All you need is 1 person to buy your product or service for it to be sellable!
From that one sale, you can improve based on feedback from an actual buyer and sell it again.
I made my 1st sale to someone I met at a networking event. He hired me to document his sales systems for his sales team.
Cha-Ching! People do need their processes documented.
After this 3 month project, I was able to refine my Seamless Systems service and make it official.
I continued to attend events, make connections, work full time and deliver Seamless Systems projects on the side for the next 3 months.
I created a consistent system where I was able to:
- generate consistent leads by attending events monthly, nurturing leads daily, and asking for referrals weekly
- convert 1 out of 3 sales conversations into projects or retainer income
- maintain happy clients that gave me peace of mind that I had income month over month
This system produced reliable, repeatable revenue every single month.
By February 2011 I was able to create enough consistent income to replace my paycheck. And I gave my notice to my full-time job. April 9, 2011, was my last day.
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#WORKSMARTER TIP:
Create foundational systems that will allow you to generate consistent leads, convert sales, and maintain happy clients. Once you are able to have reliable, repeatable revenue you will have a business you can scale.
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4) Focus
Being an Online CEO (or any CEO) you need to focus.
Focus on:
– Yearly Goals
– Quarterly Plans
– Daily tasks
I have planning sessions every quarter where I look at what worked last quarter and what didn’t. Then I spend time planning forward for the next quarter and layout action steps that will take us closer to our yearly goals.
Are you the type of person that creates plans and never opens them again?
You’re not alone.
I did that for the 1st 2 years of my business. Even with a business coach.
We would create a great plan for next quarter. At the end of the quarter, I would question why I haven’t made my goal.
But I never truly remembered the goal, because I created it and never looked at it again.
Today things have drastically changed. Numbers rule my world.
On my calendar I have:
– A Weekly I Love Numbers Date with myself
– A Monthly client project review
I also write my goals out daily so they are present when I start my day. This helps me stay focused and say NO to items that aren’t in alignment.
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#WORKSMARTER TIP:
Start to get to know your numbers. Make a date with yourself to plan out your goals and get clear on what it will take to get you there. How many clients do you need to make that revenue goal?
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5) Stay Strong
There have been tons of times where the thought “I’m not doing this anymore. It would be easier to go back to work” crept into my mind and kept me awake at night or anxious during the day.
But every-time I got to that point I would remember what I began this for. How it felt on those long commutes and working hard to build someone else’s dream.
I’m human! Part of me would really get scared
did I make a mistake? By leaving my secure job.
did I ruin my life? By investing in my business.
But the truth is that the times when I would get to that point were the times I was in the down.
And that happens – to all of us.
And when it does, you have to catch yourself, check your mindset and get out of there. Because if you don’t you will go deeper and deeper into a negative spiral of catastrophic thinking.
So what do I do when the down comes?
I stop. I take a break. I get grateful for everything I have.
Remember that we all gave up a lot to get here. And part of the deal is that being in business, working for yourself is like living life in high definition. When it’s good it’s wonderful and when it’s bad it’s scary.
That’s why we need to have a community, somewhere we can go, to tell the truth without feeling guilty. Somewhere to get wisdom, support and find that winning perspective again.
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#WORKSMARTER TIP:
Find a community. You need to have the support in your back pocket for when you truly need to call on them.
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