“What would you say to an entrepreneur who is focused on making their first 6 figures?”
From Tracy Repchuk
Every business starts off with high hopes – heading towards your first 6 figures or wanting to get this trend stabalized is often a goal for business owners. Once achieved, you want to move towards that million dollar mark and that freedom lifestyle.
After being in business for over 32 years when I started a software company at the age of 19, there isn’t much I haven’t seen, done, or experienced. I have been a part of every technological trend, and survived every recession and depression along the way. The dot com boom and the bust when almost every company I started with went under.
Then in 2006 I got into the internet marketing space, and my life completely changed. I went from starting from scratch in a new company, new country, with no list, no contacts, and within 5 months I had hit the 6 figure mark, won new internet marketing success of the year from the World Internet Summit, wrote a book that went to #1 on Amazon, and started speaking around the world with the biggest speaking organization on the planet.
So I had quickly figured out how to hit that mark, and I created a formula that I spent the next decade implementing over and over. Then I began to teach it to my Platinum clients, then just a few months back I launched my brand new program for anyone to participate in where you spend 12 weeks with me getting you on your way in a program called Your Million Dollar Design.
This program is about how to Get to 6 Figures Product Focused.
The great part, is that first group I took through success stories started to occur from making over $28,000 in 60 minutes to coming up with their first idea and selling it to the tune of $7000 – and NONE of it was built yet. This is about removing all distractions, and getting the task done.
I give you the complete the formula in a training that is located here so you can see exactly how to make 6 figures and beyond.
Because I know there are a number of ways to make 6 figures, I wanted to invite some other successful entrepreneurs so they could share their experiences with you as well.
No matter where you are in the income or business phase, this will help you see and how you can make income fast, grow your business to a stable level, and then make more income over and over again.
For an entrepreneur to make their first six figures, they first and foremost need to have clarity on and be in alignment with their life’s purpose; this is the secret sauce to success in any area of life. When we are on purpose the universal energies line up with our intentions/visions and synchronicities start to occur in order to attract into our physical reality the ideal business partners, clients, ideas and various other resources. I have experienced this first hand in my own business and in the businesses of my clients. Sometimes only a minor tweak is required to bring our business strategies and offerings into alignment with purpose which then results in a shift of energy in our business and the way we show up.
On the other hand, if our work is not aligned with our life purpose it usually feels like swimming upstream against the tide. This could mean that despite burning the candle at both ends and using various strategies and tactics deployed by other entrepreneurs successfully, you fail to achieve your breakthrough. This has eluded many struggling entrepreneurs who through trial and error finally get there but with hardships and obstacles along the way. If however you want to run your business in a manner that is aligned with your soul’s essence you will attract the required resources to yourself rather than having to do things the hard way.
To learn more about these underlying concepts, please watch my video and get a free extract of my book.
Surround yourself with others who have already accomplished this. There is a different mindset between a $50k entrepreneur and a $100k. Some people don’t like to hear that, but it’s true.
Find a mentor who will work with you on strategies. Be willing to do the work. Be in it for the long haul.
Latisha Styles –
While specific goals are great, unfortunately we do not have control over the outcome for the goals we set.
The only thing we can truly control is the actions we take in order to reach that goal. You must determine the daily actions required in order to reach your goal. If you are not sure of the actions then I recommend getting help from a mentor who has been there and can guide you.
As a starter, know what you are planning to sell and to whom. Then, make it your ambition to take daily action to reach your goal. That is how you reach 6 figures.
What would you say to an entrepreneur who is focused on making their first 6 figures?
In order to make your first 6 figures, the best thing to do is to look at what is working and what is not. Use this acronym discern what tasks you need to do:
What can you Automate?
What items can you Delegate? and mostly,
what can you Delete?
This will help you execute the strategy you have devised for the year that you’ve broken down into quarterly jobs, monthly tasks, weekly duties and daily items you check off your list. Utilize every contact you have and find those that will help you move forward.
You are not an island and you will burn out if you attempt to do this all alone over a long period of time. Lastly, keep it simple, stay focused and good is better than perfect.
Collaborate with other entrepreneurs because it’s a smart strategy to reach six figures and beyond.
My major business breakthroughs have been directly linked to investing in coaches/mentors and implementing simple collaborative strategies into my business model.
Successful entrepreneurs know and implement the power of collaboration.
Collaboration creates massive leverage.
1. It amplifies your marketing message to increase your online visibility so you can work smarter not harder.
2. It increases your credibility and authority as an expert to attract quality leads through social platforms.
3. It helps you build trusting relationships with your ideal clients or customers to build a dedicated following.
4. You’ll be able to join forces with success driven entrepreneurs to further accelerate the growth of your business and bank account.
5. You’ll build a quality email list of the right people who are happy to buy your products and services.
You CAN experience all of the above by infusing proven collaborative strategies into to your business model to build a WILDLY profitable, thriving and fun business.
Best of all, it’ll work for every stage of your business.
I would tell a new entrepreneur they must get a handle on the numbers early – understanding and managing the numbers is the quickest way to six figures – without this how can you know what is working in your business and the key metrics like client acquisition and retention cost or if you are getting ROI on your marketing dollars – trying to scale to 6 or 7 figures is possible without focusing on this but a lot harder and takes a lot longer!
I would say do you have drive, do you have motivation, do you have determination, do you have a goal, have you written it down, is there a timeline? Do you have support? Have you proven your concept? Then go!
Do only the things only you can do. Focus on what you do best and farm the rest out. In order to start generating exponential money in your business and taking what you are doing now – whether it be 5 and taking it to 6 or 6 and taking it to 7, the most important thing is to review your systems and processes and look at ROI. Estimate what it costs for you to do it versus what it costs to hire someone else.
The biggest hurdle entrepreneurs have and the reason they remain solopreneurs is because they run their business as an extension of themselves, and try to do it all.