The Key To Rapid Biz Success Is To Follow The Millionaire Entrepreneur’s Path

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Most women entrepreneurs see all of the different ways they can grow their business — teleseminars, high-end programs, groups, workshops, 1-on-1, info products, membership programs, telesummits, etc. — and feel overwhelmed. That’s because while men can hear about a bunch of different options and immediately lock in their focus on just one or two, the way a woman’s brain works is to see all of the possibilities happening at the same time.

It isn’t that women aren’t systems thinkers (many of the top brains in science and medicine are women). It’s just that as a woman entrepreneur, it can be a challenge to see your own business with the same clarity and decisiveness as you would a friend or colleague’s.

Which is why I created the concept of entrepreneurial levels and designed the Millionaire Entrepreneur’s Path. Each level acts first as a “to do” list, letting you know exactly what to focus on first, and a “to don’t” list, advising you which activities are best saved for later, as you move up the levels, so that you can create focus on what matters most right now.

Knowing which level you’re at with your business eliminates the complexity of growing your business, as you’re working on ONLY what you need to. To help you get started, here are 3 important biz-building tips, excerpted from my complete Millionaire Entrepreneur’s Path system.

Tip #1 Don’t Hide Behind Putting Your Website Together

While you will eventually need a website to implement many of the popular marketing strategies such as teleseminars, telesummits and online programs, when you’re getting started, your time will pay for itself if you focus first on honing in on your niche and getting your first handful of paying clients. What you need MORE than a website at this stage is experience, confidence and testimonials.

The same advice applies if you’re an experienced entrepreneur who is in the process of switching or upgrading your niche. It’s better to focus your time on enrolling new clients into private VIP Days or into a Private Platinum, giving you the cash flow and peace of mind to then upgrade your website.

Tip #2 Keep An Eye Out For Your “Business Back End”

Every business must have the proper structure and support to run smoothly and give you the lifestyle you want. After all, this IS why you went into business in the first place. At every level on your Millionaire Entrepreneur’s Path — from Level 1 of Getting Started through Level 5 of Creating Legacy — you need to ensure your business’s back end is properly established.

For example: Are you a sole-proprietor and if so, have you talked to your accountant or biz attorney about becoming incorporated? This could potentially save you a lot in taxes and protect your business. Another example is, do you run your business income and expenses out of the same bank account as your personal life? The IRS frowns on this so consider opening a separate, business account. The point is to re-evaluate your business structures regularly so you’re all set to easily leap into the next level.

Tip #3 Prepare Today To Leverage Your Time And Energy Tomorrow

In my coaching programs I find that women either wait too long to implement easy ways to serve groups of clients, or, jump in too soon trying to implement the latest fad income stream without making sure their list size and skill set prepare them for success.

What I coach my clients to do is to start offering teleseminar programs, master mind days and high-end group programs early in their business but to be realistic about the number of expected participants.

For example: While you’ll likely need to wait until your list is 2,000 or more before offering any type of membership program, if your list is smaller you can still start offering group programs. You can easily offer a teleseminar-based program, aiming for between 10-30 participants. This gives you a chance to plan and implement a launch and deliver great content. And if you focus on growing your list, then, the next time you’ll enjoy even more participants enrolling into your program.

The Shortest Path To Millionaire Business Status Is Not To Skip Steps, But To Move Through Each Step As Quickly And Effortlessly As You Can

The only shortcut there is to business success is to shorten your learning curve by getting the best mentoring and advice you can. You’ll be surprised at how quickly this helps you move up the entrepreneurial levels and supports you in enjoying the journey every step of the way.

Remember, being an entrepreneur IS a journey of self-discovery, accomplishment and challenging yourself to keep evolving what you think is possible for you to achieve!

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Comments

  1. Simple, yet so true. I like the wrap up summary: moving through the stages more quickly is key. I heard something a short while ago that extolled the listener to just focus on completing (and monetizing) ONE of their projects rather than working on 3, 4 or 5 of them at a time and never getting any of them done.

  2. Shortening the learning curve = accepting that success is not about knowing everything… it’s about knowing where to find specific information when you need it.

  3. Yes, I have been hosting live workshops on Facebook Marketing in my local area, and I usually have 7-10 participants in all of my workshops. I only charge $27 per participant, but I am thinking that I am going to double the price. I am working on creating the same workshop in a teleseminar platform to help others all across the globe.

  4. Kendall,
    I always enjoy the clarity of your thinking process and how you so gracefully share it with others. Great article!

  5. Kendall,

    You are full of such wisdom. In the few short months that I’ve been exposed to your business–everything has shifted. My money, mindset, my entire ministry has been unleveled. Many of the truths you share I’ll admit I’ve heard, thought or said– but you have a way of lacing it all together so that no more is it a series of random “good nuggets” but finally I see the road very clearly and travelling it is much more rewarding. Thank you!

  6. As a solopreneur I no longer have a separate business account, the bank rates were ridiculous! I live in the UK and our tax system doesn’t have a problem with this. However, it is something I will consider again when my business grows big enough.

  7. Kendal, that makes perfect sense “the way a woman’s brain works is to see all of the possibilities happening at the same time.” I seem to be juggling so many balls in the air at the moment and learning a whole new bunch of skills. I loved your last post about no-one opening your emails too. I love the way you simplify everything. I am so sorry I can’t be at LEAP but a trip from Ireland is just out of the budget right now.

  8. Jean Morehouse says:

    Thank you, Kendall, for these crystal clear steps that are easy to implement! Your ability to create ‘flow’ in all that you do has been an inspiration and encouragement for me to create this amazing flow both personally and professionally. The three steps you shared will certainly be helpful to me in my endeavors.

  9. Absolutely love the last quote regarding the “journey” and remind myself every day about that very thing. Thank you for the business tips. Very much appreciated and puts it in perspective regarding each step along the way…

  10. This a great way to make a seemingly difficult path easy with a step-by-step approach. Knowing what to offer at what stage in your business’ development can make all the difference. Thanks for these tips, Kendall. I look forward to hearing more about your full program.

  11. In your tip #3 about the size of your list, you stated that you need a list of 2,000 or more to develop a membership program. But for those who have a smaller list, the coaches I have worked with in the past, prefer group work. It truly allows the coach to optimize their time and accelerate the participant’s progress all at once.
    Thank you. Great tip.

  12. Great tips. Thanks Kendall for providing such clear and concise steps.

  13. Not only moving through the stages, but also knowing which things are the best to put into place first in those stages, make all the difference between surviving or thriving as an entrepreneur.

  14. Love all these reminders!

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