I celebrate 100 episodes this week with a discussion about cultivating the intention of building highly profitable and highly impactful business assets. Using a previous free session I hosted through my email list as an example, I compile and explain 5 thought errors and skill gaps that prevent you from reaching the coveted million dollars in revenue.
In this episode, I cover:
- What the 100th episode of this podcast means for me and for One Year from Now
- When I first realized I wanted to make massively profitable assets
- Who we think of when we think negatively about rich and/or profitable people
- How to change our thoughts around income, money, and success
- Why recognizing thought errors challenges us to create this reality of a million dollars in revenue
5 Thought Errors/Gaps of Understanding
- I am going to have to be harmful and exploitative in my selling and marketing.
There is this overarching theme in all 5 of the thought errors I discuss: making more money makes you a worse person. This is simply not true. Selling and marketing can be done ethically and still be immensely profitable, and making money does not have to be an act of exploitation or harm to yourself, your business, or your community.
“Money doesn’t change people, money exposes people. Money amplifies people and their personalities and traits.”
- I am going to have to do more/work harder – and I’m already exhausted.
If this thought error were true, you wouldn’t be nearly as tired now. Income and revenue does not equate exhaustion or workload. If anything, scaling your business should make your job easier, not harder or more exhausting. More business requires more maturity from you, not more energy.
“If you’re feeling exhausted, it means you’ve overdrawn the account of your energy.”
- I’m going to have to build a digital course/a low-quality product to scale.
The act of scaling a business existed long before digital courses, and there is a myriad of examples of high-quality products that have brought in millions of dollars. In the same vein, I’m sure there are tons of poorly made products that never made anyone any money. You do not have to put out something harmful or bad to make money or to scale your business.
“You don’t have to scale a digital product, you don’t have to scale a low-quality product, you don’t have to build anything you don’t like.”
- I’m going to have to become a smarter, better version of myself to do it.
You didn’t get where you are through magical transformation, and you won’t get to a million dollars in revenue that way either. Think of every other milestone you’ve reached financially as a business owner. Have you changed? Most likely, yes. Did you have to become a whole new you overnight? Probably not.
“You don’t have to solve these problems for today, you just have to believe that’s possible for now.”
- I am going to become an exploitative employer as I hire.
For many entrepreneurs, we left w2 careers behind due to past traumatic experiences with bad employers or abusive managers. We know exactly what type of boss we don’t want to be, but aren’t entirely sure how to be a good employer. Remember that being an employer is a learning process, and it can be a process that leads to you being a great boss.
“There are plenty of employees and employers that work well together, and that only comes from experience and learning.”
The Residency is a 12-month, cohort-based program specifically built to help first-generation entrepreneurs gain the business acuity and mental-emotional maturity to build their next high-impact, high-profit asset…and whatever else they want for the rest of their lives. Join the email list HERE to get application details for the next cohort.
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