Gain An Increase In Revenue By Avoiding These Cash-Eating Monsters
As a service-based business, coach or course creator, there is a certain appeal to scaling your impact, especially if that means you’ll exponentially grow your income.
Scaling into 7 and even 8 figures also means you’ve got to turn your attention to common cash-eating monsters before they erode your profits. Increased sales require a need to deliver your offerings to more people. Explosive growth comes with operational headaches.
Often, big growth is a double-edged sword, and it can become a deterrent if you don’t have the right systems in place.
On Amplify Your Success Podcast episode 314, Racheal Cook joins me to dish out some valuable insight to rapid, sustainable growth practices that every business owner should practice.
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Key Takeaways
- [4:21] Racheal takes us behind the scenes of the cash-flow reality of many 7 & 8-figure businesses.
- [10:33] Set a goal to get a 2 – 3 times ROI from every team member you hire.
- [12:46] An important step is to fire yourself from each role you hire for, then write your new job description.
- [17:52] What “catastrophic growth” is and the signs an entrepreneur is headed for it.
- [20:28] 3 key steps to take when you “slow down” so you can speed up.
- [26:36] Racheal’s advice on how to navigate a recession so you don’t lose momentum.
- [35:50] Racheal’s bold growth move, hosting live events and making big investments when it’s contrary to conventional wisdom.
About the Guest:
Racheal Cook is on a mission to end entrepreneurial poverty of time, energy, and money for women business owners. She’s an MBA-trained business growth strategist, founder of The CEO Collective, the host of the Promote Yourself to CEO Podcast, and a best-selling author. Over the last 16 years, she has helped thousands of female entrepreneurs design predictably profitable businesses without the hustle and burnout that doing #allthethings inevitably accomplishes.
Racheal is a sought-after speaker on entrepreneurship, marketing, and productivity and has been featured by Forbes, Business Insider, Entrepreneur Magazine, and Washington Post. Her real passion, though, is supporting purpose-driven women as they implement the strategy, systems, and support to uncomplicate their business so not only do work that makes a difference but live a life they truly love.
Fun fact: Racheal also has a degree in music performance and almost became a professional french horn player. She launched her first business during her studies and developed the discipline and consistency that every entrepreneur needs.
Connect with the Guest:
Mentioned in This Episode:
- The Get Paid Calculator
- Discover Melanie’s 7 Step Framework to Add Another 6 Figures to Your Business by Leveraging Other People’s Platforms.
