A couple months ago, I received a buy Tasha coffee question on how said business owner could transition their current business model into another industry gracefully so to speak. This upcoming July will mark eight years in business for Imperfect Concepts brand, and I know a thing or two about transiting industries. You see I started off as an online high end resale boutique and transition to a business consultant and blogger. Today, I want to share five tips for those looking to transition your business from one industry to the next.
A plethora of new small business owners believe they can turn a profit in 30 days, 90 days or the first year of business. To be honest, companies such as; Twitter has not turned a profit yet and Ashley Stewart took twenty years to turn one. I am not writing this blog post to diminish your goals of being a successful small business owner. It is truly possible to do so, but we must first be realistic when it comes to this. Today, I wanted to provide some real insight on increasing your small business chance of becoming profitable this year.
Last month, I shared six creative ways to save in order to fund your small business. Today, I want to focus on low-cost tools and resources to help you build your business and not break your bank account at the same time. These are just not resources for those launching a business, they are great tools and resources for those who are wanting to scale their business. My first company was started with $400 from my savings account and by year five I was making $10,000 a month in digital sales and making six figures income level. Trust me, when I say these are the same resources I use on a daily for my business.
To be honest, if you asked me eight years ago what my company’s business model was or let alone my sales funnel, I would’ve had a funny look on my face. This is probably the same facial expression you would receive from thousands or more entrepreneurs springing up all over the global. In the last four years, of consulting it has been my goal to have not only solid sales funnel for my business model, but for my clients also. Scaling your company is not just staying out the red, it takes understanding the elements of your business sales funnel.
First, sorry it has taken me so long to write this post on “How To Make $100,000 In Sales A Year” or better yet break the six figure revenue stream. Trust me; it was something I wanted to do, but there was no significant response to the other three parts of the series. So, I completely let the ball drop. Then recently someone mentioned in a Facebook group how they were tired of the bait and switch of how to create the code of making six figure income.
If you don’t know what that means, let me shade some light for you quick. More creatives are selling courses, ebooks or webinars on the subject matter but never really touching on how to achieve it. They might have tiered level products that suppose that gets you there but you already spent $497, and now they are asking for $2997. Eek! That’s a no go. Quick tip, the fastest way to make a million dollars is to sell a book, eCourse or host a seminar on it. People will flock to it because most people have the aspirations to be a millionaire without working for it.
We all make mistakes when we first jump into something new. However, with the level of information you can find on the internet, it’s easier to jump over the roadblocks most people faced when they launched. The learning curve can be easier when you do the first item on this list. I know it can be seen as boring, but the information you collect will save a lot of time, money, and stress.
Right now, you’re probably thinkings its November where did the time go. However, I need you thinking “is my small business ready to undertake the billions of dollars that will be spent this holiday season?” People love to shop and spend money, even it tightens their budgets or puts them over their budget during the Christmas time of year. It’s all about the joy on their loved ones faces when they open their gifts or when you’re at a company holiday party exchanging secret Santa gifts. As a small business owner, who owned an online boutique for several years I know how hectic this time of year can get. Today, I want to go over four areas you should make sure your business updates in for holiday season 2016.
When I mention to people that I am a business consultant and strategist, then tend to tell me the million and one ideas they have. Then say how they are struggling with which one to start because all of them are great and money makers. To be honest, not every business is a money maker especially if you’re only starting it to make quick money. Those tend to be the fastest money drainers because of the amount of time, money, and more that needs to be invested.
My goal with launching Kick Start Your eCommerce courses was to help remove the excuses people from when wanting to open up their own business. Personally, I believe there are two reasons people constantly use when it comes to investing in their dreams. They are “I have no time to go after my dreams” or “money is tight, and I can’t afford to invest.” Most people are living in their comfort zone and the lies they tell themselves to keep them happy, warm and exactly where they are.
There will always be first steps you take when launching something. However, I noticed in the last couple years how people tend to skip the most important measures of establishing a new business. Too many times, we are caught up in the lure and excited about a business that we forget key components that help us stand on a solid foundation. Here are the seven first things you should become consumed with before you worry about making a dollar or being on Oprah’s holiday list guide.
This past March marked three years running a service based business and I truly love it. When I first started, I was just as lost regarding the process of doing stuff. One thing I knew for sure was I need another income outside of one on one consulting. Especially, since I was new and industry without huge accolades behind my name. Immediately, started researching how to create passive income for my business was super exciting. Only issues was so many things felt like gimmicks and not who I was. Later, after almost 2 years of creating digital products I wrote Passive Income: Make Money In Your Sleep. That ebook helped so much of my audience flush out their ideas and create their passive income funnel.