In this episode, Kirsten talks about your business at all income levels. She walks you through how to scale from $100K to $1M and what your team, systems and mindset focus should be at each level.
*Please Note: This transcript is based on an outline and may contain typos, word switches, abbreviations, etc. These are provided for your convenience and are not proofread prior to being made available.
Hello Part Time Millionaires!
In this episode, I am going to talk about your Team at all income levels.
I am going to walk you through how to hit your first $100K in a year and what Team you need and what you need them to be doing, all the way to hitting your first $1M in a year.
Let me start with recapping my approach to thinking about hitting $1M in sales in a year.
To hit $1M in 1 year, you have to master your 6 figure cycles. Your 6 figure cycle is the amount of time it takes you to hit your next 6 figures.
So you start with hitting 6 figures in a year, and then 6 figures in 6 months and then 6 figures in 3 months and then in one month. That’s the math to hitting $1M.
You’re just collapsing the amount of time it takes to make 6 figures.
Now, how do you do that?
Well it starts with: you have to make the money, and then sustain the client load.
So, how do you make more money?
You either raise your prices or raise your capacity so you can sell more spots.
Now, my approach is always to teach my clients to raise their capacity before they have to raise their prices and that’s a different podcast for another day. But essentially, I don’t teach my clients to raise their prices every launch or every few clients. It’s more effective and sustainable to raise their capacity.
And the way they raise their capacity is through their Team and their Systems.
An example of this is my client, she currently isn’t delegating enough. So she doesn’t have a lot of capacity to sell.
Her systems don’t have the capacity for any large influx of clients.
And she doesn’t have the capacity to create value in the form of curriculum, service refinement, and content because she is so involved in the day to day of her business.
And this is adding stress to her, so we are working on clarifying her current Team’s roles, identifying new hires to make, and delegating more. So that she can create more capacity.
I remember she was thinking about raising her prices and doing an urgency based launch but notice how this would have just been a bandaid for much more foundational issues. And this is a person who has made $1M in a year but felt burnt out and now is growing their family and really doesn’t have the choice to be all up in her business like that.
Okay now you can have capacity though and not make money. You can have all the systems in the world and the best team ever and not make money which is where your Mindset will be important.
This is why I coach on this Trifecta of Team, Systems and Mindset inside my Mastermind, because it creates the absolute strongest foundation for scaling.
So, that’s the point of Team, Systems, and Mindset right? The point is to raise your capacity.
So what does this look like at every level of your business?
I am going to break down from your first $100K all the way to $1M what your Team, Systems and Mindset will look like and I’ve curated this breakdown based on my own experience and my client’s experiences.
To scale to $100K, you will need at least 1 Assistant either for Operations OR Delivery. So, when I was an Agency Owner, I chose to go with a Delivery Assistant so that I could take more clients without me having to do more.
When I went all in as a Coach, I went with an Operations Assistant because I was still figuring out what my delivery even was.
I have clients who also had at least 1 specialist contractor on their way to their first $100K like a podcast editor or designer.
The systems I needed to hit $100K were SOPs and Automated Onboarding.
So, as an Agency Owner: I just needed Delivery SOPs and an Automated Onboarding Process.
As a coach, I needed Operations SOPs and an Automated Onboarding.
If you have any specialist contractors, you shouldn’t really need “systems” for them because they have their own.
The Mindset I needed to hit my first $100K was that I could help people.
I needed to fully believe that my offer was something people wanted, and that all I had to do was sell it. And I really focused at that time on the belief that selling is just telling people who I work with, that I know their problems and that I can fix it. I never ever had messaging drama EVER on my way to my first $100K because I knew that was all I needed at that time.
Also, I had the mindset that I am not doing everything. I had a demanding 9-5 job and was only making $700 a month in my business and I paid for an Assistant out of my 9-5 paycheck and even on credit cards. I didn’t care what financial people said, did not care. I didn’t care what people said about DIYing before you hire and not having a team.
And guess what? I’m am free of all credit card debt and have more cash in the bank than ever before and it’s because I didn’t care if it wasn’t usual or incorrect.
To scale to $250K, at this point you’ve probably raised your prices and are adding a new offer as well. So you will either keep investing in your Assistant Team or you’ll add in some specialists.
Here’s what I mean. From $100K-$250K you’re going to take on more clients. So if you’re an Agency Owner and your Delivery is truly on lock, you’ll be fine with just 1 Delivery Person at this stage. So you’ll add in an Operations Person such as a Project Manager to take you out of the Agency or an EA to help you with scheduling and customer service.
At this stage you might be desiring to add in a new marketing channel as well like Podcasting or Youtube (because you know you should already be doing email!) so you’ll likely have a specialist contractor for that as well.
As a Coach you may add in a specialist contractor like I mentioned or a support coach for a group offer.
The systems I needed to hit $250K was definitely a Content Creation System, as well as growing my SOPs and getting more sophisticated with my client onboarding system like having a dashboard for quick links, more of a ClickUp process, etc.
The mindset I needed to scale to $250K was that I could get my clients results for sure. I knew I could create the sales and now I needed to build my belief in results. And I see my clients needing to build this mindset as well around this mark.
I also needed to believe it could be EASY to scale. That I didn’t need to DO more strategies or a whole product suite, I just needed to focus on repeating the same steps.
When scaling to $500k, you’re going to need a clear business team and lifestyle team.
At this point you have to have an Operations or Project Manager, a Podcast Editor if you have a Podcast and Designer. Because by now you should have a clear Content Creation System that you can delegate to design and scheduling.
You’re going to have at least a Housekeeper and maybe even a Personal Assistant for yourself, if you’re a mom this may look like a nanny.
You’re going to need to have scalable onboarding, delivery, operational and launch systems. You’re going to need more systems in your life as well. You could also easily have a funnel by this stage if that’s your business model.
I had to heal my relationship with Launching at this level. I had to see it as something valuable and easy to execute. I had to trust my team more and delegate better. I had to clean up my thoughts about time and not having enough of it.
I had to increase my capacity for the client load as well. Coaching 4 people on zoom versus 30 is different. Having 1 failed payment versus 20 is different.
Scaling to the $1M Level, you will likely keep the same Team but maybe add in specialist contractors as needed like Ads Managers, Event Planners, etc. But you will definitely need to elevate your systems and processes to sustain larger launches.
You’re going to add in processes that support a higher client load. This may look like increasing your automation game. Having more solidified SOPs. Making sure any changes to your Team leave your business completely unaffected.
More than ever you’re going to focus on being a leader. You’re going to need to focus on detachment. You’re going to need to know how to feel your feelings and still lead. And really at this level I’ve found my clients are working on foundational mindset things from previous income levels that just didn’t get worked on. A lot of repetitive beliefs tend to resurface.
Whatever income goal you have, I can help you increase your sales and peace with a Million Dollar Team, Million Dollar Systems, and a Million Dollar Mindset.
I will help take you out of operations, project management, client delivery whatever you’re doing too much of that your Team could take on for you, so you can focus on marketing your offer, organizing the way you do things, improving your curriculum and service, leaning into a new offer, resting, whatever you want to do.
I will help you find people you can trust to take on the day to day for you so you have full permission to step away.
I will help you delegate better and feel confident doing it.
My Mastermind is designed for Coaches and Agency Owners that want to become CEO Optional in their business.
By the end of this year, you’ll have more cash, peace and a minimum 3 week vacation that does not stop your business.
You’re going to learn how to use your Team to make more money. You’ll have a customized plan for your unique business to do and you can ask me any question you have
It starts with a 1:1 Sales Call, where you will be able to meet with me, your future coach, to tell me your goals. I will share exactly how I can help you and answer any questions you have about the program. You will know exactly what we will work together on first based on your goals.
Once we are done with the call, you will let me know if it’s a yes or no. When it’s a yes, you will have 48 hours to enroll.
We close enrollment for the program September 5th, so you will want to book your sales call in before then.
The program officially begins September 19th!
There is a special bonus for everyone joining this round and this round only.
A Private VIP Day with me, where we will create your proprietary Client Delivery Training program.
You will walk away with a Training Program unique to your philosophies, policies, and expectations for your front facing Service Providers.
They will know exactly how to deliver your services in a way that is clear, consistent, and meets your standards for your clients, and doesn’t require you. This alone is invaluable, and will be something you can build upon for years to come. This bonus is only available this round. And it’s for anyone who join BY September 5th. A whole Private VIP Day with me. It is going to be phenomenal.