I want to start by taking you back to when you first started your business.
The big goals.
No longer would you be held back by the red tape of a company, the cap of an annual salary or at what capacity you can serve others with your gifts.
Your business was going to become the vehicle for massive change.
And even better?
There would be no limits to the amount of change you can make.
Remember that feeling?
I sure do!
With a drive that couldn’t be stopped, I began working with 1:1 and DFY clients and doing everything I could to serve them.
It didn’t matter if I was sick, tired or even traveling… if they needed me I was there.
And it didn’t take long for me to realize that, while a ”booked out business” used to feel like the ultimate dream, it was actually compromising the one thing I wanted the most. Freedom.
It also came with a never ending list of LIMITS.
Limits on how many people I could impact.
Limits on how much time I could spend on myself.
Limits on when I could take time off.
Have you realized this about your business as well?
If so, you’ve already been looking into diversifying your income streams with scalable offers like courses, group programs, digital products, memberships, etc in order to expand your income beyond 1:1/DFY work.
But bringing it to life?
That can be a whole different story for most.
Because in the process of learning and testing this new way of running their business, they don’t only take in the knowledge but the myths too.
I know this because I hear them all the time.
And, even worse, I’ve seen how they keep incredibly talented women on a never ending roller coaster of overwhelm and inconsistent profits each month.
The good news?
I also have seen what happens when women break through these myths and step into a scalable business that they run (instead of a business that runs them!)
And it’s pretty freakin’ magical!
So, let’s dive into the top three sneaky myths so you can avoid them, Matrix style, when they try to work their way into your own business.
MYTH ONE – 1:1/DFY work is the only way to build a substantial income online.
In a lot of ways, this makes complete sense from a surface level.
1:1/DFY work carries a higher price point, due to the access of you, and that means that you can make a significant amount of income by offering it.
But, I want to go beyond just surface with you.
Let’s take a look two offers, 1:1 and group, with the same goal of $3K:
When we look at these two, we can clearly see that, since 1:1 is a higher ticket offer, you don’t need to sell as many in order to hit the same income goal.
And when it comes to the time spent on your part, it’s the same as well.
This is where the seed of this myth gets planted early on because, of course, you’d rather just have to sell 1 of something than 3, right?
I know I would!
But what happens when you’re looking to raise your income goal?
In this next example, let’s raise your income goal to $12k for the month:
If we run the numbers, we’ll see that now we’re looking at 4 sales vs 12 sales to reach the same income goal of $12k.
And if we still keep your focus on just the “less sales needed” income, this is the direction you will take.
However, let’s explore what actually changes here… your time spent to earn that income.
We can agree here that your 4 clients all deserve the same level of support from you, which means that we need to duplicate any of your 1:1 time by 4.
This brings us to 72 hours.
However, with the group program, you are leveraging both your existing content and time.
Sure, you’ll be making updates and/or may have live calls included (all accounted for above) but since it’s one to many, your hours aren’t being increased in the process.
By increasing the amount of 1:1/DFY clients you take, you are increasing your work hours by 3X in order to earn the same amount of money as the group option.
Now, imagine you want to earn more than $12k.
What do your hours look like if you multiply by 6 clients?
This is where we start to see why so many coaches, service providers and strategists lose their freedom in the process of achieving their financial goals in business.
Once I realized this for myself, it became clear why I was always feeling pulled in every different direction and overwhelmed by my schedule all the time.
To earn more I had to continue to comprise the one thing I started my business for in the first place… freedom.
I had no time because I didn’t have a scalable (or sustainable) business model that could grow without giving up more of my time.
Let’s see examples of how this looks in other businesses from the Achievers Circle:
On the left, Audrey helps authors earn more fans, sell more copies, and write more books within her Author Transformation Alliance membership community. This type of scalable offer allowed for her to build a consistent revenue source while freeing up her time so she could go to school for her Masters degree to do to expand her skills as a writer!
On the right, Jessica took her trans-formative 1:1 work with Mo’Zen Wellness and packaged it into a powerful course, called Freedom + Flow, selling it through webinars in order to expand her impact and income in a way that aligned with her lifestyle!
Take a look at your own numbers and see what the match looks like for you when it comes to increasing your income.
What would it look like to do so through only 1:1/DFY work and what would it look like to have a scalable income stream in the mix as well?
Myth 2: No one is buying courses, memberships, e-books, _________ anymore.
I have to be honest with you, this one makes me laugh a bit because there simply aren’t facts to support it.
In fact, the facts are quite the opposite.
What I’ve actually found to be true is that:
- People are gladly paying to solve problems every. single. day.
- The e-learning industry, as a whole, is estimated to be at $325 billion by 2025 as more continue to turn to online resources for the knowledge they need. (By the way, that’s up from $107 billion a few years ago.)
- Those who tend to perpetuate this myth are typically doing so to sell you their “secret sauce” way or simply don’t realize that just because something didn’t work for them doesn’t mean it doesn’t work for others.
Heck, this year alone I spent a little over $5k on just courses for my own continued growth and learning, even though I don’t consider myself a big “course person.”
I do like my problems solved though!
The real question isn’t about if scalable offers sell or not but which scalable offer is best for you and your audience?
For example, if what you are sharing is visual, an audio training isn’t going to be the best fit. However, you could have an amazing online workshop or course for your audience walking them through each step.
Or, if your research shows that your audience aren’t buying monthly memberships but are putting books on the best seller lists, this would be a sign that e-books are worth exploring.
(For more support in this area, I have a podcast episode specifically on this at How to Know which Scalable Offer to Add into your Business.)
Let’s see examples of how this looks in other businesses from the Achievers Circle:
On the left, Sarah has a sells a Mockups for Makers course that helps Etsy sellers with creating stand out mocks ups for their online shops and began leveraging funnels to scale it further As her audience wouldn’t consider themselves tech savvy, she provides tutorials that simplify every step of the process for them!
In the middle(ish), Jenn is able to leverage affiliate options with products she already uses and loves as a way to serve the clients of Theta Center of Light on a deeper level. Affiliate sales are a great way to genuinely share what you already believe in and refer daily!
On the right, Audrey created The Ultimate Authorship Planner for authors, creatives and entrepreneurs to have their most successful year of writing and publishing! This also leads right into the membership community she offers as well – win win!
All different types of offers, all serving their individual audiences, all scalable.
In other words…
When you have the right offer in front of the right audience that solves the right problem, it sells.
What do you already serve your clients with that can help even MORE people in a scalable format?
Myth 3: “I don’t have the time to keep creating and promoting new offers.”
If you’ve fallen into the first myth, it makes sense that this myth would also appear as you’re in the cycle of trading time for money.
Here’s the great thing about this though…
When you have a solid scalable offer that’s selling, creating more isn’t the answer to growth.
Instead, you continue to revise and scale that ONE.
If you want to add new offers along the way, you absolutely can but you don’t have to. In fact, overall growth becomes easier with less offers vs more.
If you need proof, think of those you know that have a multiple six or seven figure business online and think about what offers you see them launching the most.
You’ll most likely find that it’s between 1-3.
The same thing goes for you!
However, I get that even getting ONE additional (and scalable) income stream up and running takes time that it doesn’t feel like you have right now.
And, in that case, I want to introduce you to the Pre Sell and Profit Before You Create method where you can validate your offer (with sales!) before putting in hours on your part.
I take you through the entire process of doing this with a course on this blog post, however, it can be used for ANY scalable offer.
Let’s see how this looks in another businesses from the Achievers Circle:
These screenshots were taken both before and during the launch of a new scalable offer (yes, while she was still working with clients). This allowed her to not validate the need for her SEO knowledge with 16 SALES but can increase the amount of members for the next round, without increasing her work hours since the content will now be DONE!
When you look at the activities you are doing in your business on a daily and weekly basis, what could be removed from your plate to make time for a new income stream?
We all have time leaks and finding yours will help you to see where you can find the pockets of time needed to get this new offer off the ground.
From there, you can start to lower your 1:1/DFY client spots (and/or remove them completely) as you match your income from this offer.
It’s a process.
But any process that serves your bigger vision is a worthy one in my book.
Now that you have learned the myths, it’s time to take action.
Awareness is the first step to change.
The second is the action you take based on that awareness.
So, the next time you find yourself…
- Trying to go back to loading up your calendar with clients because it feels safer in the moment.
- Questioning if everything scalable out there has already been “overdone” and there’s no room for you.
- Compromising the freedom you truly crave for the sake of trying to grow your income.
- Burning the candle at both ends and not sure which way is up most days.
You’ll be able to see that these are simply the result of the myths that were taken in along the way and make a conscious decision to believe in your vision more.
Have you found yourself falling for any of these myths in the past? If so, what did you find to be the truth?