Avoid This When Building Your Business
Without a clear plan for what your business to do for you, you'll end up working for it instead of it for you.
I fell into a common pitfall when I started my solo business.
Coming off five years of working on a bigger business with partners that drained me of my life savings, my energy, and my confidence, I had to start from scratch.
I had a few criteria for my new business: I wanted something that didn’t require a big team, that I could do from home, and that would pay well.
But beyond that, I lacked clarity. I wasn’t sure if I wanted to focus on affiliate marketing, freelance work, consulting, coaching, creating content, or selling courses.
My mistake was that I didn’t first get very clear about the lifestyle I wanted my business to provide, and then create a plan to get me there that I could stick with.
So I tried them all.
Over time I’ve had success with funnel building, consulting, and coaching. I have found work and clients I have been able to help and that I enjoy working with.
But along the way, I’ve filled my days with work, and I’m still trading time for money.
With two little daughters who have special medical needs, this makes for a lot of stress. Doctors' visits and daily therapies eat up a lot of time, and I am often left without enough time to get everything done.
It’s not sustainable, and I want my business and my life to look different.
I’ve spent a lot of time thinking about what that looks like. Something I should have done two and a half years ago.
I’ve narrowed it down to three current goals:
- Reach a monthly dollar amount that I have identified that will enable me to take care of my family and live a good life.
- Get to that number while working less than 25 hours a week and with the ability to take time off when I want without stress.
- Wake up each morning feeling good about what I do and help as many people as I can in a meaningful way.
That’s what matters to me right now.
How do I get there becomes the question.
I’ve considered focusing entirely on affiliate marketing, or even real estate investing.
Either could help me reach the first two goals, but perhaps not the third.
I want to work with others and help them grow their businesses and help their families.
So, I’ve identified three keys to getting there:
- Publish regularly to attract an audience that resonates with me (with a focus on my newsletter/email list)
- Start more conversations with that audience and with more “ideal clients”
- Create and make offers that my audience needs and wants (a combination of coaching and digital products)
A key reason I’m doing this 28-day writing challenge is to get better and faster at publishing.
I want to be more open about my journey, share valuable lessons I’ve learned along the way, and do so in a way that is fun to write and engaging to read. That hopefully leads to a bigger audience and more interest in working with me.
Getting better and faster at writing will also enable me to create more digital content that can be turned into assets I can sell and that work for me even if I take time off.
So I’ve got my plan.
Now I need to execute consistently.
I recommend you do this exercise as well for your life and business.
What matters most to you?
What kind of lifestyle do you want your business to support?
What do you need to do or change to get there?