Seven figure months don’t require magic – they require pinpoint strategy which allows an entrepreneur to be successful at leading a company at that level.
There is virtually no education whatsoever for entrepreneurs from a leadership perspective, to really understand the inner workings of how to operate a company of this size and scope.
Unless you are in Legacy Leaders with me, or you just so happen to have a high level corporate leadership background where you had full Profit And Loss Statement responsibility and managed operations end to end), it’s very difficult to even understand what’s lacking and what’s needed in order to get to this level.
It’s not that CEOs or successful entrepreneurs can’t get there. It’s not that they aren’t working hard enough or that they don’t have the energy, the passion or the talent, either. The truth is that it is a completely different skill set to drive business to the million dollar mark.
These skills are rarely discussed because they’re not so sexy. The skills needed to get you to the seven figure mark are a not-so-obvious set of skills.
So few business owners ever get to the seven figure per month mark, that there are even fewer people teaching how to get to the eight figure mark in the online space or social media.
Bridging the gap from million dollar a year to a million dollar month, is a completely different game. It moves from being a game of physicality, taking massive action to the mental gymnastics of orchestrating how people, systems and energies collide.
The more you move from being in the orchestra playing an instrument, to being to the conductor of the orchestra, the better: because at that level, the volume of any element of the business is just too great to do it all alone.
When we think about the core things that are going to help you to bridge that gap, you want to start very, very early. In fact, you want to start as you’re in the multiple six figures and can see that you’re quickly beginning to approach seven. That’s when you really want to start thinking about the pivot.
Seven Figure Months For Your Business Require Precise Systems And A Dream Of People To Operate Those Systems
Begin to assemble a group of people (and a group of systems) that can start peeling those things off of you, so that you can start focusing on the brain work and the strategy that is required.
You need to work as fast as humanly possible to create a triple threat in all of the core departments in your company. Your executive leadership, mid level management and production team all need to be 10 out of 10. The sooner that you do that, the sooner that your business will be in a position to not only acquire clients and the hundreds, but also retain and manage them.
Your Recurring Revenue Baseline MUST GROW Every Single Month
This is the number one aspect of your business that creates security. It’s also the number one aspect which drives value. A lot of people think that just comes down to sales. But that’s not true. That is massively impacted by your retention rate, and by your renewal rate.
It’s what you do with the lifetime value of each customer that comes into your ecosystem. As you build into the higher multiple millions, you’re going to build out a product suite, you’re not going to just have one flagship, you’re now going to have an ascension.
The less different things you focus on, the faster and easier you’ll grow. Whereas the more diluted your energy is, the more different products you’re trying to market and sell, the slower you’re going to grow, the harder it’s going to be.
Many people don’t realize that as you get into the higher and higher and higher tiers, there will be a massive fall off rate every single month if everyone only stays a year. This is because you had a massive growth rate every single month.
As such, it becomes a delicate balance of focusing on both the front end of the business and the back end of the business simultaneously, that allows the sales that are coming in to actually net you growth.
Your Ascension Model Will Dictate Your Growth Into The Seven Figure Per Month Income
What is your ascension model? You need to make it so that the sales you’re making in the business actually create growth, versus the sales just covering the fall off of people that are completing their time with you. When you have an ascension model for your clients to uplevel into (or downsell into) as they complete your program, you are creating more opportunity for income and client retention.
So: take a look at how you can impact the lifetime value of your customer and their desire to keep growing with you.
You Need To Have The Readiness To Manage Hundreds Of Clients And Be Able To Scale When Your Business Demands It
This not only comes down to staff, but it comes down to procedures as well as systems. If you don’t work on the systems, all the growth that comes in the front end will literally just fall right out the bottom end, and you’ll never get to that million or multimillion dollar take-home income. These are the things that we are fanatically working on inside our own company right now.
We’re hiring higher level strategists. We’re bringing in additional support team members that have built and grown businesses of their own, because we want to make sure that we have the best customer service in the world and the best support structure in the world.
This is all very, very challenging for any business owner. We’ve had to go through many cycles and rounds of trying to identify people who were actually able to intellectually and skillfully grow at our pace.
This process is even harder, especially when you’re in the digital age, because you’re doing things that haven’t been done before.
You’re creating new inroads, you’re building new paradigms, you’re disrupting your industry, you’re doing things very, very unique and different from other counterparts in your space.
There Is No Preset Roadmap To Guarantee A Seven Figure Per Month Business, But You Can Create Your Own
As the CEO of your business, you need to balance your focus on getting the clients, assembling the Dream Team, and driving the systems and infrastructure to be able to hold them all together. Oddly enough, this also means that you need to assess which of these areas are your strengths and which of these areas are your weakness.
Which one are you going to be the core driver of and which one are you going to make sure that you have the person you trust who is going to help you to drive these areas.
A lot of people never make it past the million dollar mark, or they touch up against it once and then they’re just out of the game because they realize that they’ve gotten to a set of skills that they haven’t yet developed.
It feels really overwhelming and terrifying when things start to go wrong, and everything feels like it’s crashing and burning.
When you get to these big breakthrough points, all the systems break, and you have to rebuild them. But there are people out there like myself that teach and support and guide people through these processes.
You can have million dollar months. You already have all of the talent, all of the passion, all the inspiration, and you’re doing the hard work. You just have to make that adjustment into the mindset of how it is different to run a multiple seven or eight figure company than it is to run a multiple six or seven figure company.
It’s just a constant learning process.
If you are looking for super high level strategic mentorship, luxury retreats, tight knit community weekly coaching, and the support of being in the room with seven and eight figure business owners that are just crushing the game, you need to learn more about Legacy Leaders.
If you’re not quite at that level yet, but you are ready to cross over seven figures, Legacy Builders is a great stepping stone that will get you to the level to be ready for leadership.