It was my 26th birthday on Sunday. I feel a lot older than that, and a lot of my coaching clients thought I was much older too!
That makes it a year since my business was going through a rough patch, and I've managed to not only overcome that, but also nearly triple my business's profit in the last year.
Here's what I learned since then...
1) Your Marketing Hook Is Everything
In a crowded marketplace, you need to do everything you can to stand out from everyone else.
Gone are the days where you can claim to help people to "lose weight" or to "make money online". You need to be more specific and compelling than that.
Previously my free content to get people into my business was about making six figures per year. Not only was this not believable to most, but it wasn't specific enough - therefore it wasn't very compelling to people.
As soon as I changed my main free content to my 12 Profitable Niches report, people loved it! It's an offer that people found irresistible, and also attracted the right prospects into my business - for a much lower price.
So focus on your hook, and make it so compelling that they would crawl over broken glass to get to it.
2) Selling High-Value, High-Priced Programs Is Super Effective
I had never really focused too much on selling anything priced above $1,000 until this last year. One-on-one coaching was all I had!
But after introducing a full step-by-step blueprint and coached people through the entire process, people were willing to pay good money for that massive amount of value.
And my profit soared while my clients got incredible results. It was a win/win!
This made me realize that low-priced offers are really only the "gateway" to selling higher-priced offers, such as your upgrades and back-end offers.
3) Always Put Money Aside
The reason why I had a small bump in the road within my business last year was because I didn't put money aside, and when my whopping tax bill arrived, I was left scrambling to make up the difference.
This caused a few cash flow issues and made a super stressful experience.
Since then, I've always kept a "float" of money in my business's bank account to allow for these changes in cash flow. This makes it more noticeable to spot issues before they become a giant problem, too.
4) Love Your Family
There are too many stories and movies of people getting too caught up in business to notice their family drifting away from them.
Luckily, the movies always end well with the star realizing what a douche he's been and the family forgives him. But real life isn't always as forgiving.
I've been guilty of not being able to stop thinking about work when in a family situation, and it sucks! Not just for you because you've never really "present" and you don't remember things people say to you, but the family members too.
So learn how to switch off after you finish working on your online business, always tell your family and spouse how much you love them, and always put them first. It's pointless having a successful business if they're no longer around to share it with.
5) The Old Way Of Doing Business Online Is Dead
Over the last 2-3 years, there's been a trend for business owners in the most popular niches to "extract" as much money from their customers as possible - even if it means doing it unethically and annoying their customers.
(To the point when you're looked at like an alien for actually giving a crap about your customers!)
Fortunately those days are dying fast, as customers are now a lot more savvy and only buy from those they know, like and trust.
So if you're not showing your true personality to your audience while hiding behind a computer screen - OR actually trying to help them - then your days are numbered.
Be cool with people and they'll be cool with you.
Have a great day!