Here’s something other millionaires might not tell you…
Each stage of the business journey is beautiful, ugly, difficult, and fulfilling all at the same time.
And each of those stages comes with a new level of understanding, introspection, and personal development.
The truth is this: You cannot grow your business without first growing as a person.
Along my own journey from $0 to 8 figures, I had to shift the way I viewed myself. I had to believe I was a CEO before I even officially gained that title.
Of course, this transformation didn’t happen overnight, and it won’t happen overnight for you either. Every big mindset shift is the result of smaller shifts along the way.
Your mindset, simply put, is made of the thoughts running around in your head all day, your assumptions, your philosophies, your beliefs, and your attitudes. And it shapes every aspect of your life — including your business.
Based on how I had to evolve my own mindset as I grew my business, I want to share with you the mindset shifts you need to make as you grow your company from one revenue level to the next.
Every business owner’s journey begins at Hello 1, Beginner ($0 - $24,999 in annual revenue). At this stage, you need to trust that you have something valuable to offer, recognize that your earning potential is limitless, and start acting accordingly.
Ask yourself: Could you create a one-of a kind solution for a specific, under-served audience? Do you have an unbelievable story behind your business? Identify your unique value, own it, and start to run your business accordingly.
Once you’ve made that mindset shift, it’s on to Hello 2, Budding ($25,000 - $49,999 in annual revenue), at which point you have to recognize that you already have what you need to build an audience of potential clients.
If you’ve got contact info from leads, a social media presence, or even just a solid network of friends and colleagues, you have an audience. Use what you have, show up consistently and authentically to talk about your solution, and your audience will grow.
When you’ve moved on to Hello 3, Busy Bee ($50,000 - $99,999 in annual revenue), you NEED to accept that you don't have to say “yes” to everyone with a pulse and a wallet.
At this stage you’ve grown a lot, mostly on your own. You’re probably completely burnt out, and as a result, you’re stuck at the threshold between 5 and 6 figures.
Taking on too many of the wrong clients will actually keep you stuck there, even though it seems like it would mean more money. You need to be more focused on your one ideal client and main offer, so you can earn more and work less.
That focus is what will ultimately lead you toHello 4, Breadwinner ($100,000 - $249,999 in annual revenue). That means you’re in 6-figure territory, and it’s time for you to step fully into your role as CEO of your business and leader of your team.
You won’t be able to maintain 6 figures or reach 7 figures on your own. It’s time to start switching gears by onboarding a team that can help you reach new heights in your business. Mentally, you must embrace the identity shift from solopreneur to team leader.
At Hello 5, Boss ($250,000 - $499,999 in annual revenue) you’re getting closer to that 7-figure mark. But if you don’t trust that your team members can excel at things that you've always done well, you could easily slip back down to 6 figures.
No more micromanaging your team and working outside of your zone of genius. If you really want to reach 7 figures, you have to learn to let go.
At Hello 6, Badass ($500,000 - $999,999 in annual revenue) you’re so close to that million you can almost taste it. If you want to reach that milestone, you have to challenge yourself to see that your revenue can grow without it being directly tied to your time.
You can only grow your business to multi-millions if it’s able to run without you. Your business has to be fully functional and profitable even if you’re not around to oversee things. That’s what you hired your team for.
And when you’ve reached Hello 7, Baller ($1m+ in annual revenue), you’re probably thinking, “Now what?” This is the point where you get to challenge your beliefs around how you contribute to the success of your company.
What are the things that you now have time for? How can you thrive in your zone of genius as a CEO? What big ideas do you have for the growth of your company that your team can execute for you?
Now that you’ve got a glimpse into the different mindset shifts that need to happen at each stage of business growth, what other shifts do you need to start working on right now...?