I've seen a lot of bloggers, business coaches and entrepreneurs talking about 7 figure incomes. I want to be pretty brutally honest with you. I've never earned 7 figures in my life. It would be awesome -- but it just hasn't happened.
One day, I'd love to. One day, I'd love to be earning 7 figures so I can buy myself a Porsche. But that's not today. Today, I'm all about making rent, having money on the side and being able to pay for my business' growth -- that's all I need.
I think a lot of people forget that while 7 figures is an impressive amount, it's daunting and it's difficult. And to get there, you've got to start from zero, from scratch, with absolutely nothing.
So I want to talk about the first steps on the road to becoming a successful entrepreneur. And this is going to apply to small business owners. It's going to apply to startup founders, and freelancers, and consultants, and coaches. It's going to apply whether you are a graphic designer or a fitness coach.
You need to focus on building a 4 figure income.
Let's get some things out of the way first.
You're right, 4 figures isn't a huge amount of money. You can't buy a mansion off that. But 4 figures is enough to dip your toe in, to get your first wins on the board and to start improving your lifestyle.
4 figures is an amount you can hit in just 30 days. That's not a snake oil promise, it's not a guarantee, it's just a very real and viable possibility.
This isn't an easy method, and it's going to take up a lot of your time, and you could fail and flame out no matter what, so be prepared for what I like to call "a learning opportunity" -- a chance to fuck up.
There are 3 steps. And it's not because it's a nice, neat number. It's because I've been following these myself and experimenting with them for 10 years now, and they work.
Step One: Define Your Customer
It might seem unintuitive to define your customer before you've even worked out what you're going to be selling 'em. But trust me on this. The reason I'ver got defining your customer first, is because most entrepreneurs know who they can sell to long before they know what they can sell.
Step Two: Define What You're Selling
When you define your customer, don't fool around. Write out exactly who they are, how much money you want them to be making, the niches and industries they focus on where they hang out and why etc. This lets you hone in on what you're going to sell them by determining exactly what they need.
Step Three: Reach Out To Your Network
Your network is the number one way to find customers. Because bear in mind, you're not trying to sell $1,000,000 worth of services. You're trying to sell four figures. Four figures only takes one or two sales, and you can do that by reaching out individually, one on one, to people you have an existing relationship with, and asking them for one lead each. Asking them to put you in touch with one person who needs exactly what you're selling.
This is one of the processes I talk about when I get entrepreneurs to drill down to their growth plans at Creatomic.
Chasing a 7 figure income is going to depress you. You need to have the motivation and the drive that getting to 4 figures can offer. When you get there, you add another figure. It's a small step, and trust me -- it's the only way to build a real income. All of these "proven strategies for a 7 figure income in 7 days" kinds of posts aren't worth the html they're formatted in.
Get a 4 figure income first. Then worry about the other 3.