Five Proven Steps to Achieve a Multi Six-Figure Online Business

Your Dream Business

In this episode I share five essential steps to grow a successful multi six-figure online business. With over 10 years of experience helping businesses scale, I’m able to share the 5 key steps that all these businesses have taken to achieve their financial goals (and beyond!) I’ll bring in elements of my personal journey and adjustments I’m currently making in my business which will hopefully give you inspiration for your own. Listen now to start implementing the 5 step formula you need to take your online business to the next level. KEY TAKEAWAYS COVERED IN THE PODCAST

1. Demonstrate Expertise: Establish yourself as an authority in your niche by creating high-quality, long-form content.
2. Build Visibility: Utilize strategic outreach, social media, and networking to increase your visibility and reach your target audience.
3. Nurture Your Email List: Build a strong email list and nurture relationships with your subscribers to drive conversions.
4. Craft a Compelling Offer: Create a valuable and irresistible offer that addresses your target audience's needs and desires.
5. Master Launch Strategies: Develop effective launch strategies to maximize sales and generate buzz around your products or services.

If you enjoyed this episode then please feel free to go and share it on your social media or head over to Apple podcasts or Spotify and give me a review, I would be so very grateful. LINKS TO RESOURCES MENTIONED IN TODAY’S EPISODE September 2024 Masterclass Long-Form Content: Your Secret Weapon to grow your business How to become more visible and grow your audience Connect with Teresa on Website, The Club, Sign up to Teresa's email list, Instagram, LinkedIn, Facebook or Twitter

Transcript

If you are looking to grow your online business, then this episode is for you. If you are a course creator, a membership owner, or a coach, and you have an online business, then I am going to be sharing with you the five proven steps to achieve a multi six figure online business. Over the last 10 years in business I have helped hundreds of business owners grow their online business, not just launch it, but grow it and earn the money that they want to earn from their online business. So they can either stop doing one to one or stop doing done for you work. The five things that I share in this episode are the five things that I see in every successful online business. They have these things. And they are going to be essential in you growing yours. Hello and a really warm welcome back to another episode of Your Dream Business podcast. As always, I'm your host, Teresa Heath Wareing. And if you are an online business owner, a course creator, membership owner, or coach, you are absolutely in the right place. Because in this podcast, I share tricks and tips and tools and strategies all around growing your online business. And what makes me qualified to do so? [00:02:00] Well, I have a degree in marketing. I've spent the last 20 years in marketing, last 10 of them in my own business, running my own online business. I have helped business owners hit multiple six figures in their business, have hugely successful launches and grow their list and their visibility. And that's what I'm here to help you with too. So today I actually feel like, well, I feel like in my business, we're doing a bit of a not a reset as such. We've had a few changes. A few things are being tweaked. I've brought up some new team members. Um, um, some new things are on their way. I'm going to be doing YouTube soon and we're trying out some different things with chatbots and various other things. And like I said, I'm getting some help because I'm getting increasingly busy. So, um, We are having a bit of a review of the business because obviously as I bring on new people, I want to tell them where the business is at and what we're doing and what we're trying to achieve and all that good stuff. And one of the things that I'm doing is reviewing the content I put out there and who I'm putting it out for.[00:03:00] And some of the content I'm creating is actually for a masterclass that I'm doing this week. So if you are listening to this episode in and around the day it comes out, which is the 2nd of September, then luckily you are in time to because on the 5th of September, I am running a masterclass called five proven steps to achieve a multi six figure business online, even if you think you've tried everything before. So in doing the presentation for that and getting that together, I have kind of honed in my content and come up with a framework Because it's so much easier for me to, frameworks are great because it helps me keep focused on my content, but also it helps other people remember that there's five steps to something and therefore what are those key steps and are they doing them? So what I thought I would do in this episode is give you a little sneak peek into what that content is. And obviously, if you join me for the masterclass on Thursday, it's free, it's live, you can ask me questions, then I will be going into more depth. [00:04:00] So what are the five steps that we need to have an online business, a successful growing online business? And I just want to back up a minute because I think I've talked before on the podcast, but I am going to say again about why I am focusing on the growing aspect of an online business. I believe there are lots of people who come into this space who are setting up online businesses with the dream of having an online business, serving lots of people, having a bigger audience, having a one to many. Proposition, which basically means you create one thing and many people buy it rather than one to one, i. e. if you're a one to one coach or a done for you service. So let's say you're a marketer and you currently do people's marketing for them. And instead you would like to transition through to a membership where you teach people or where you coach people to do it. So I see a ton of people coming into this space all the time. And what's [00:05:00] interesting is There are very few that really hit big, big incomes in this space. Now, I want to caveat that with one thing. Not everyone wants to earn a big income in this space, and that's fine. I'm not saying you have to, I'm not saying that that is part of being successful, but there are a lot of people who want to earn more than they are currently earning. One of the things that I hear a lot is I want to earn what I did when I worked. But without having a boss. So often people have come from a, an employee's job or a corporate job, and they want their business to bring them in the money that they used to earn being employed, but without having a boss. And what I'm seeing is lots of people moving into this space of having an online business, but then not many of them succeeding to getting the online business to where they want it to be, i. e. bring in the money they want it to bring in. And like I said, that doesn't have to be, you know, millions and millions, millions that could just be [00:06:00] covering their income. Obviously I'm talking about six figures and beyond because that is a really good way of me showing credibility. Like if I can do that, if you want to earn 50, 000, then I can definitely help you with that. So like I said, that's why I've kind of really focused on, okay, let me help people because that's the bit I'm really good at doing. And I think, again, if you've followed me for a while, you know that I Certified as a coach a few years back. And I talked a lot about mindset, but actually what I think you're going to see going forward is a lot more strategic advice. Now I am forever grateful that I have a certification in coaching and I know all about mindset and I have all these tools and strategies in my toolkit that I can whip out at any point when working with either my accelerator people who are my group program. So there's normally between six and 10 of these people and they get individual calls with me, they get group calls with me. And what's lovely is if I am helping them with a strategy and [00:07:00] suggesting they do something and I see a block coming up, then I'm able to work through that block. Whereas I guess, I guess that's probably one of the things that is my, I don't know, USP, my superpower is that obviously you tend to have strategic people who tell you what to do, or you have mindset people who coach you and work with you, whereas I can put the two together. And you need the two together, FYI, because I am proof of that. I had all the strategic stuff and I still didn't do the stuff I needed to do. Anyway, so my content was very much kind of mindset y content and then some strategy, but I was literally just looking back at all my episodes in 2023 and it was a lot of mindset. And I needed that for those of you who might be new to my world. I spent 2023 getting sober. And I am still sober, thank goodness. And that was a big journey and a big thing for me to do. And I was going through a lot of mindset stuff myself, which I think is why, which makes perfect sense, why I then shared a lot of mindset stuff. However, [00:08:00] like I said, I'm pulling it back to strategy. I'm bringing out the mindset when I need to, but my zone of genius is strategy. I have a degree in marketing. I've spent all these years in marketing. I know what I'm talking about in this space. So what are these five things that you need to do these five steps in order to achieve a multi six figure online business, or just put in a figure that you want, but basically you are not there now and you are trying to get there. There are five key things that I'm going to be sharing in the masterclass on Thursday, the fifth that you need in place in order to help grow your online business. And I want to talk them through really quickly here with you. But like I said, on the masterclass, we'll go into more detail. Okay. Step one, you need to demonstrate your expertise. And what I mean by that is you need content. Now we live in such a different world than, I mean, the online space is like, Nothing like I've known when I first did my [00:09:00] degree or when I first started working in marketing, the online space is very different. And one of the things we have to do is demonstrate our expertise. We have to show that we know what we are talking about. And a couple of episodes back, I will make sure I link up to it in the show notes. I talked about why you need long form content, and this is what I'm talking about. Number one, step one in the five steps is demonstrating expertise. And by doing that, it's creating long form content, long form content, being a podcast or a YouTube video or a blog, something that demonstrates to me that you know what you are talking about. Then You can take short form off it and you can use the long form content to post on social media and do various other things like that. But step one, you must demonstrate expertise. It makes perfect sense. If I'm going to buy something from you, then I need to know that you're good at it. Okay. So you need to show me and give me confidence and build that know, like, and trust by step one, [00:10:00] having that demonstrating expertise, which like I said, the best place you can do that is long form content. Step two. Becoming visible. So with step one, you are hopefully going to attract some people into your world. If you are doing good at SEO, if you are doing a good job of promoting things on social media, maybe you're running ads, then great. That is going to get you a bit of something. And the dream of putting something out there and hoping it goes viral. You know, I've not had it happen. I've not seen it happen for many people. So yes, we are going to track some people by demonstrating our expertise, but what we need to then do is become visible. So step two is becoming visible. I have talked about visibility a few times. We've done an episode on it, so I will make sure we link to that in the show notes. FYI, to see the show notes, they are on the app that you're listening to this. Or if you go to teresaheathwareing.com/362, then you will find the show notes. [00:11:00] So where was I? Okay. Yeah. So becoming visible is super, super important. Like I said, I've done a whole episode on that. We'll link to it. But the visibility piece is so important because otherwise, how do you get people in front of you? How do you get seen by your perfect customers? And FYI, that's kind of a given. You need to understand who your perfect customer is. How do you get in front of them? What are the strategies that you can do? So. When you get visible, you're already demonstrating your expertise because people wouldn't have you on their podcast or on their stage or writing a blog for them if you hadn't already proved that you know what you're talking about. So that demonstrating expertise, that long form content is really going to help when you're becoming visible because people are going to look at you and go, Oh no, they do know what they're talking about. Look at what they've created. FYI, this isn't necessarily the order in which you should do things. I'm not sat here saying, spend two months on demonstrating experts, spend a month on visibility, a month on the next thing, not the case. [00:12:00] So all of these kind of need to be done at the same time, which feels a little bit overwhelming, but. Don't get overwhelmed. So becoming visible, you need to get seen. So we've talked about, like I said, getting on people's podcasts, standing on people's stages, doing guest blogging, making connections with people, doing collaborations. How can you get visible, so other people can start to discover who you are and what you do? And then again, let's say you've stood on a stage and you've talked about something, then hopefully someone will then come to your site or come to your social media and realize that you are an expert because you are demonstrating expertise. Number three is effective list building. So this is almost kind of the, the bridge from the people just knowing who you are to the people potentially buying from you. You need to basically take people from knowing who you are and trusting that you're an expert to then getting on your email list. I can talk about this [00:13:00] all day, every day, you know, for 365 days a year. List building is so, so, so important. You don't own your social media. You don't own the platforms that you're on. You will own your email list. So when you're demonstrating expertise and when you're becoming visible, you should be doing everything to put those people onto your email list. And when I talk about an effective list building strategy, I talk about. What lead magnets have you got? How do they connect to the content that you're doing? Where are you promoting those lead magnets? Where are you sharing that people can get on your list? And it's about being proactive. List building is not something that is just done reactively. It can't be, if you are not proactively pushing your list. I can pretty much promise you now that you are probably not getting many people on your list. So where I have grown my list by a thousand at once or by 2000 at once, I have done something very specific to [00:14:00] grow my list. I have sponsored something. I have created a summit. I have done ads. I have been on someone else's summit. I've spoke on someone else's podcast. I have specifically done something to help really push up my list building activity. Okay, let me go over those three points again. So one, demonstrate your expertise through long form content. Two, become visible, getting yourself out there to other people. Three, effective list building. Make sure that every opportunity you are getting people on your list, make sure you have lead magnets. And under that effective list building is also nurturing the people on your list. So loving them, making sure you're emailing them, making sure you're not just emailing them when you've got something to sell. Step four in my five steps is building a compelling offer. Now this bit is really, really important. And actually this is much harder to do from a, or for me to try and give you the, the key ingredients of it, because often When I'm working with the accelerator [00:15:00] people, when I'm on a call with them and they're talking about their offer, and actually I get them to give me the details of their offer before we even get started. I get them to fill in this big form so that I can really understand who their business is. I also get them to give me answers to some personality tests so I can see how they like to work. I just love a personality test. So the offer thing is a bit tricky because often when I am Discussing with someone, if the offer is right, there are many, many factors to take into consideration. So who is the offer for? What's the transformation you're giving them? What, uh, how are you delivering the offer? i.e., is it, you know, a small group thing? Is it a big group thing? Is it a, you know, do it yourself course thing? what it means to them and what's the cost. So there are so many things that come into building that compelling offer. It's not just as easy as me going courses at this price work really well. That's not the case. It does have to be a conversation. And also what happens [00:16:00] at this point, when people are putting together their offer, they often go to their friends or family and go, would you buy it? Terrible, terrible, terrible idea. Because unless they are your perfect customer, and also they are in the market to buy, then it's very hard to get a completely clear answer from them. And even if they are a perfect customer, and they're in the offer, or in the region to buy,...