Hello, aspiring entrepreneurs and self-employed professionals! Are you dreaming of a life where you can take home £100,000 or more annually while being your own boss? If that sounds like your goal, then you’re in the right place. In this blog post, we will discuss five essential steps that can help you achieve this ambitious milestone.
Step 1: Understanding “In the Business” vs. “On the Business”
First things first, let’s differentiate between “in the business” and “on the business” tasks. When you were an employee, your job responsibilities were assigned to you, and your focus was on completing those tasks within the 9-to-5 timeframe. However, as a self-employed individual, you need to expand your scope to work “on the business” as well. This includes marketing, lead generation, strategizing for the future, and building a team.
Step 2: Focus on Marketing, Strategy, Systems, and Team Building
To achieve your £100,000+ goal, you need to make time for activities that will scale your business. This means dedicating daily hours to marketing, creating a solid business strategy for the next 90 days, 6 months, and beyond. Implementing efficient systems to track your customer journey and automate tasks will save you time and increase productivity. Additionally, don’t shy away from building a team to support you. Consider starting with a PA or an admin assistant to handle routine tasks, allowing you to focus on growth.
Step 3: Know Your Numbers Inside Out
One of the keys to success is knowing your numbers inside out. Understand your weekly and monthly sales targets, conversion rates, and the overall health of your business. It’s crucial to be aware of the metrics that drive your income. From booked calls to core product sales, and from upsells to banked income – these numbers will guide your decision-making and help you stay on track towards your financial goals.
Step 4: Calculate the Worth of Each Sale
Not all sales are created equal. It’s important to determine the value of each sale in your business. Whether you’re selling products, services, or a combination, knowing the worth of each transaction will enable you to set realistic weekly goals. Understanding your core product sale will help you break down your revenue target into manageable, achievable steps. Focus on a steady stream of new leads and conversions to reach your desired income level.
Step 5: Embrace the Power of Delegation
As your business grows, so will your responsibilities. It’s crucial to recognize that you cannot do it all alone. To unlock your full potential and truly grow your income, you must embrace delegation. Hiring a PA or an admin assistant can alleviate the burden of time-consuming tasks, freeing you to focus on the core aspects of your business. Remember, delegating doesn’t mean losing control; instead, it empowers you to elevate your business to new heights.
In conclusion, earning £100,000+ annually as a self-employed advisor is within reach if you follow these five steps. Differentiate between working in and on your business, prioritize marketing and strategy, understand your financial numbers, know the value of each sale, and don’t hesitate to delegate tasks. Success is not easy, but with determination, the right mindset, and strategic actions, you can achieve your financial and lifestyle goals.
Now is the time to take charge of your destiny, to be in control of your business rather than letting it control you. Believe in yourself, put these steps into practice, and watch your self-employment journey take you to new heights of success.
Best of luck on your entrepreneurial adventure! Remember, you have the power to shape your destiny. Keep pushing forward, and great things await you on the path to earning £100,000+ a year as a self-employed advisor.