After more than a decade of teaching online, I can tell you that making great money is often the product of doing fewer things with more focus.
I’ve reached my max temperature of watching talented people flail online because they’re either focusing on too many things or the wrong things at that.
It gets me fired up!
If you’re reading this, then I know you have an expertise and it’s in you to use that expertise to help people while making a great income that supports your life. The biggest problem today is that there are too many shiny objects distracting people from achieving true success and getting what they want.
If you’re not sure what to do next in your online business, start with these five steps…
5 Steps to Make More Money with Your Online Offers
1. Pick ONE product or service and get it off the ground before even thinking about anything else.
The key word here is ONE. Do not try to build out multiple offers at the same time. If you’re not sure what your one thing is, it’s because you haven’t had the proper business training. Pick ONE result you can get people and build on that.
… I know, you can get people a lot of results!
You are talented, and you can help people with many things! You can heal their gut, manage their hormones, help them get a date or leave their disastrous marriage, sage their living spaces, and be their dog whisperer at the same time. I’m here to lovingly tell you, you cannot (and should not try) to be all things to all people. You don’t have to teach everything you know! (What a relief!)
Making good money (and having a business you love) comes from having one fantastic offer that sells well and creates happy customers. Period.
2. Let go of sunk costs!
OMG for the love of all things holy you MUST learn to let go of sunk costs. This is business 101, but unfortunately, most people either skipped that day in class or haven’t ever taken a proper business class.
A sunk cost is money that you spent (it’s already gone and ain’t coming back) but it wasn’t worth it. BLESS AND RELEASE IT.
For example, if you think, “but I spent money on that other business program, so I won’t join Elizabeth’s New Course even though it’s exactly what I need,” then you need a (seriously loving) business lesson.
Do not prevent yourself from investing in your business just because you spent money elsewhere. I still invest at least $20k annually into my own personal & business development and it has always resulted in higher income.
I once spent $5k on a retreat that I got nothing out of. I was bummed (and annoyed!) BUT, life went on and I’m still here. Investing in your education and growth is part of making great money.
You know what else could be a sunk cost? A program of service you’ve been trying to sell for months (or years!). If it hasn’t made great money yet, you need to rethink either your offer or the structure of your offer.
Sunk costs are a part of business. We all deal with them. Don’t let sunk costs sink your business, now or in the future.
3. Validate your offer/service (what you plan to sell) before putting a ton of work into it.
Gah. This one really gets me. I know all of the online certifications and teaching programs have good intentions, but some of them help you become a health coach (or life coach or business coach) then tell you to go create a big long program. That can work, but it can also fail miserably.
Whether you’re a coach, graphic designer, medical professional, or another service provider, you MUST validate your minimum viable offer before you spend the time creating it. This will save you a ton of time, money, and heartache in the future.
4. Never say the word “priorities” again.
Did you know that the word “priority” is meant to be singular? There’s no such thing as priorities. Make it a goal to accomplish one small thing every day and you will be set far ahead of the curve.
Success does not happen in one day. Success is the culmination of many small steps taken over time. Now, it can happen quickly, but it’s not all at once. You can make in a short period of time if you take one small action step each day.
5. Invest in yourself by working with a coach and mentor who has created what you want.
Surround yourself with people who have what you want and you will get what you want, too. Joining a small group coaching program five years ago took me from “pretty successful” online to “massively successful” online. You can’t do it all alone. Align yourself with people who have what you want in order to grow.
Whether you work with me or someone else (for real, please choose what’s best for you!), you need to learn from someone who has created the style of business that you desire.