Whether you’re just about to reach six figures or you’re hungry for a seven or eight-figure business, Keri Murphy takes you on a deep dive to understand what’s needed for you to reach these highly sought-after levels of your business. What got you to six figures isn’t going to get you to eight figures. Find out what’s needed – besides grit and determination – to reach your financial goals so you’re building an inspired brand that reaches thousands and gives back to causes you believe in. Based on her experience of the past ten years building her own global brand, Keri doesn’t hold back when she shares what you need to do for continual growth in your business.
Listen to the podcast here:
How To Take Your Brand From 6 To 8 Figures
This is the show where we inspire lives and empower entrepreneurs. Talk about empowering, I am talking so much about money because I want you to make it. I want us to make it. I want the economy to continue to grow and it is possible through these times for you to grow and scale your business. As someone who’s been an entrepreneur for over two decades, I have seen great highs and I have seen dismal lows. What I’m going to share with you is going to help you decide on what steps you need to take in your business right now to take it from zero to six figures or six figures to seven. Those are big jumps. I understand that but what I’ve learned over the years is all about implementation.
What gets you to six figures is usually passion, grit, tenacity, going big, never going home and working hard in your business. In my first year of Inspired Living, we hit six figures because I didn’t know better. I was out there speaking and doing my thing and we were growing. What gets you to six figures doesn’t get you to $250,000. It doesn’t get you to $500,000 and certainly doesn’t get you to $1 million. My hope for you is that what I share with you, no matter where you’re at on the financial trajectory of your business, can infuse some inspiration and to-dos so you can continue to grow and scale right now.
When people come to me, they are usually in a place where they are trading time for dollars. They own a job. They don’t own a business. They moved from technician working for someone else into a technician in running their business. They’re not a trained CEO and they’re working hard trying to do all things. I have that t-shirt. I have been there. I have done that from my first business in my twenties to my third business in my 40s. I get it. If you want to grow, if you want to scale, you cannot keep trading time for dollars because you only have so much time in the day. No matter how much you charge, no matter how amazing you are, there’s only so many zeros you could put at the end of a 24-hour period. The number one piece of advice I have for you is learn to leverage. Take what you do, whether it is a product-based business or a service-based business and help people acquire that product or service in different ways.
What does that mean? It could mean instead of selling one mascara and I’m thinking beauty because I have a beauty line, you sell a kit. That’s leverage. I’m not trading one thing for one thing. I’m creating a kit. You can have a subscription service. You can have a membership site. There are so many things you can do in the product space. My specialty is more in the service space. I think about online products, webinars, digital downloads, PDFs, group programs and mastermind groups. Take what someone would pay you to do time for dollars and create more of a leveraged way to offer that content. It might be a group training. It might be a high-end mastermind group or it might be an online course. There are ways for you to take what you’re good at and teach others how to do it where it doesn’t take more of your time.
Why not rinse and repeat your knowledge without it taking more effort for you. Whoever says creating an online course is the easiest thing on the planet is smoking something. What I will tell you is that once you do it once, it’s evergreen. I’ve had an online course, my IL Academy that I’ve had for years that has created multiple six figures to my bottom line because once I built it, I have to update it, but I don’t have to touch it very often. Does that make sense? Learn to leverage your skill, leverage your products and leverage your time. Your time is the most important thing you own. It is something you will never get back so understanding how to utilize it can easily create multiple revenue streams and wealth to your business.
The second thing is to learn to love your numbers. I remember when I had my second business. It was a modeling and talent agency. I remember waking up in the morning and looking at the bank account going, “The money’s still there. I’m okay.” We then had the 2008 recession and I remember it like yesterday looking at my phone, looking at the bank account going, “Those numbers, I’m not liking as much.” As a CEO, as someone who wants to grow a seven-figure business, you need to learn to love your numbers. Understand your numbers, have a budget, have a performance and understand your cost of goods. Just because you have money in the account, it doesn’t mean you’re making money. It doesn’t mean you’re profitable. At the end of the day, we don’t want a business that creates money. We want to have a business that creates wealth and creates profit.
You need to invest in people that hold your vision like it's their own. Click To Tweet
At Inspired Living, we are so committed to helping you become a social entrepreneur. That is an entrepreneur who does great and puts it back into the world, who generates wealth and lives an inspired life. How do you do that when you don’t understand your numbers? I get it because this was me when it came to numbers for a very long time. Learn to love them, understand them and hire someone to help you work through them. Please don’t try to do your bookkeeping on your own. That might get you to six figures but that will not get you to seven. Hire a great accountant and have a good tax strategy. You got to start looking at your business as a CEO instead of a technician.
The third tip to take your business from six to seven figures is to invest in a coach that can get you there. We don’t know how to get to a destination we’ve never been to. Yes, you might’ve gotten to six figures and you’re like, “This is amazing. I want to continue to grow.” Just so you know, more money, more problems sometimes. You’re going to hit obstacles in your business. You’re going to start to question, “Do I invest in this or do I invest in this? Do I hire this team member or do I invest in social media? What do I do?” You need to have someone in your circle that can guide you and help you in making decisions on a map that they have been on.
I cannot stand it when I see people selling the map. What does that mean? It means people are selling a destination they’ve never been to. They’re like, “I can get you to six figures. I’ve never made it but I took a webinar.” I promise you we will never do that. If you want to get to six figures or seven figures, hire a coach that has been there before you that can help you navigate the obstacles and help you make those vital decisions that will help you scale and grow. I can promise you this. I would not be here without a coach or a mentor. As I continue to grow, it is the number one thing I continue to look at is who do I need next to continue to build out the brilliant Inspired Living brand?
That takes me to the next step, which is actually hiring a team. Once you know what it is that you want to do, maybe at six figures, you’ve had a part-time assistant. Maybe you’ve had a contractor or a virtual assistant, which is amazing. I still have virtual assistants on my team, but at some point, you need to invest in employees. You need to invest in people that hold your vision like it’s their own and you can’t do that with independent contractors. I’ve done both. I’ve had a team of contractors and I’ve had a team of employees. We’re a little bit of both right now, but what I will tell you is that to have people believe in your mission like it’s their own, they embrace your values. They love your clients. They breathe the juice that you’re drinking. Those are the people that you want. Often, we can’t find those people when we’re hiring part-time vas or hiring people on Upwork or Fiverr. In order for people to invest in you, you need to invest in them. Invest in your team.
One of the things that I have learned that I continue to learn over and over again is that I’m only as great as the people I surround myself with. I’m always looking at who I want to be next, who I want to learn from next. That doesn’t always mean a coach or a mentor, but my peers. Who am I surrounding myself with? Where am I hanging out? Where am I spending my time? Over the last couple of years, I’ve had the incredible opportunity to mastermind with other women that were seven and eight-figure business owners. I’m telling you, that was incredible to sit at that table with them and talk strategy and team, what works, what doesn’t work, family, husbands and life. To have a peer group that lifts you up on the bad days, that says, “You can do this,” and that also celebrates with you.
I feel like once you get past maybe six figures, you get into $250,000 or $500,000, it’s hard to find a peer group to celebrate with you who understands the great wins and the great losses. To say, “I spent $20,000 and that did not work out for me. I had my first $100,000 month.” Who do you call when you have that? You have to broaden your circle of peers. You have to get them so they celebrate with you and they walk you through the tough times so you know you are not completely crazy.
The last tip I want to share with you as you’re building your multi six and seven-figure brand is that brand. Do you know what your brand stands for? At six figures, you might have a great logo. It’s been you that’s been driving the business and people love you, but what’s beyond you? What does the brand stand for when you’re not on camera when you’re not sharing your message? What do I feel every time I go to your site or I see your social? That is brand consistency. In order for you to scale and grow, your brand has to make someone feel something. It has to create some sort of emotion because at the end of the day, emotion is not what causes us to buy. It causes us to connect.
Brand consistency and congruency are extremely vital at this point in your business. You can’t put up a Canva quote anytime you think about it anymore. You have to be more strategic with your brand. You have to have a calendar. You have to understand your messaging. You have to understand more intimately your ideal client and how you’re serving them on a regular basis. How does your brand make people feel and how are you making that a touchpoint every time they come and connect with you?
Those, my friend, is my tips on how to grow from six figures to seven figures. I’m telling you, it is a marathon, not a sprint. If you put these things into practice, I can promise you that you will continue to grow this year. If you keep trying to do it on your own based off of pure grit and determination, you’ll get to a place where you will burn out. You’ll hit a ceiling simply because you don’t know what steps to take next. Hire a team, get a great coach and mentor, look at your circle of influence, your peer group, understand leverage, brand consistency and congruency and be committed to helping more people. At Inspired Living, we want you to create wealth, but we don’t focus on money. We focus on service because we know the more you serve, the more you make. That is how you scale and grow your business.
I would love to hear from you, where are you at right now in your business? Are you implementing these things? Do you want a million-dollar business? If you do, tell me why so if I can help you, I will. I would love to. Post your comments and if you are inspired and I hope you are because this is very possible for you. I want you to take a moment and share this video with a friend because when you are inspired, you inspire others. That is what we need more of right now. As always, thank you so much for reading. I care so much about you and want you to have incredible success, not just now but for the next decade in your business. You need to create the systems and the structure that can help you get there.
Important Links:
Join the Inspired Living with Keri Murphy Community today:
This Post Has One Comment
I loved as much as you will receive carried out right here. The sketch is tasteful, your authored subject matter stylish. nonetheless, you command get bought an nervousness over that you wish be delivering the following. unwell unquestionably come further formerly again since exactly the same nearly very often inside case you shield this hike. Jessamine Dionisio Renae