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Promote Yourself to CEO | Small Business Strategy for Women Entrepreneurs

330 Episodes

33 minutes | Jun 23, 2022
Why Your Marketing Isn’t Working (& How to Fix It)
You spend so much time posting on social media or writing blog posts or sending newsletters to your email list. But no matter what you do (or how much), your marketing just. isn’t. working! You’re not seeing results in the form of new, paying clients. Today, I kick off a new series all about marketing that converts. In this first episode, I dive into the top three reasons why your marketing isn’t converting and how you can fix it. On this episode of Promote Yourself to CEO: 3:10 - Do you only hear crickets when you get your message in front of people? I reveal two reasons why you might be making mistake #1. 7:26 - Fixing the first mistake involves doing something that the current marketing ecosystem ignores. 9:41 - Do you have a plan in place to prevent mistake #2? Here’s how to make sure you do. 15:17 - Mistake #3 is a big one and the basis for my upcoming marketing strategy intensive. It’s where I see gaps in people’s marketing strategy. 19:36 - I clarify attract marketing and discuss the pros and cons of the three primary attract strategies. 29:30 - Where should you begin with attract marketing strategies? I reveal where I always start.   Show Links Marketing Strategy Intensive “How 100 Conversations Can Transform Your Business with Tami Hackbarth” “How 100 Conversations Helped Mado Hesselink Find Her Dream Clients” Racheal on Instagram Leave a review on iTunes
43 minutes | Jun 16, 2022
How the Happiest Musician Built a Predictably Profitable Business with Jennet Ingle
“You won’t make any real money doing that!” Has someone said something like that to you when you revealed you want to pursue a creative career in something like art or music? So many people stop chasing their dreams because they’re afraid they won’t be able to make it work. Today, I chat with one of the founding members of The CEO Collective, Jennet Ingle, who took her talent as a musician and turned it into a sustainable business. If you’re a creative person, you’ll love our conversation in this episode! On this episode of Promote Yourself to CEO: 2:36 - You’d be surprised to know this about me. It’s why it always makes me happy to see others in musical careers. 6:29 - Traditional paths for musical majors are few and heavily guarded. Jennet reveals how she’s forged her own path. 10:20 - What was Jennet doing when she first came into my world and joined The CEO Collective? It’s such a niche thing that snowballed. 16:05 - Jennet reveals the surprising audience receptive to her programs and how the pandemic actually made it easier to reach and teach them. 21:05 - What’s happened for Jennet since she initially got serious about turning her passion into a business? 25:26 - Jennet offers wisdom for those who feel they can’t have a career or business as a musician/creative person due to their fear of financial insecurity. 28:27 - Jennet discusses what she learned from The CEO Collective that helped her solidify her business’s direction. With such a niche business, she found it indispensable! 33:45 - How do Jennet’s musician friends feel about what she’s created? She reveals what’s most unfamiliar to them about what she does. 35:02 - I ask Jennet a couple of questions about her CEO Collective experience. She talks about habits she’s kept and the biggest challenge she overcame. Show Links Jennet Ingle The CEO Collective Racheal on Instagram Leave a review on iTunes
36 minutes | Jun 9, 2022
5 Ways to Maintain Momentum During The Summer Slowdown
Summer is just around the corner! It’s the time of year to relax with a cold drink by the pool and just slow things down. Sounds great, but how do you make sure things don’t slow down too much in your business? In this episode, I talk about how you can avoid losing momentum during the slower summer months and ramp up your business for the fall. On this episode of Promote Yourself to CEO: 3:21 - Summer is the perfect time to work on the bigger picture for your business. Here’s the first way to help you get the most out of this slower period. 6:45 - What’s the one thing that’ll help you grow your business sustainably? This allows you to leverage your time and energy by working smarter, not harder. 19:19 - Want to set yourself up for success for the rest of the year? Look at these three core parts of your marketing strategy and your overall marketing system. 28:33 - How your business shows up in the world matters. It’s the first impression people get, so consider upgrading this aspect over the summer. 32:36 - This time of year is when I’ll often plan for and create new offers, including my very first program in the summer of 2011. Show Links The CEO Retreat Google Workspace/Google Apps for Work Last Pass Help Scout Asana Calendly Dubsado Racheal on Instagram Leave a review on iTunes
29 minutes | Jun 2, 2022
How a Mid-Year Review Can Help You Achieve Your 2022 Goals
How are you doing on those 2022 goals you set at the beginning of the year? We’re almost at the midway point of the year. But if you’ve gotten off track with your goals, don’t worry! In this episode, I walk you through a mid-year review to help you figure out what is and isn’t working and how you can start planning for the second half of 2022. On this episode of Promote Yourself to CEO: 2:42 - Look at each goal you set at the start of the year and ask yourself these questions. I discuss a few of mine, including a big one accomplished already. 6:07 - What goal am I not currently on track to reach? I’ve had this one on my to-do list for two years! 8:24 - The next step involves digging a little deeper and doing a month-by-month review. I reveal how I do it. 14:27 - Answer these questions to really get a handle on what you’ve noticed in your review. 20:53 - Plan for the rest of 2022 with these four questions to ask about each month remaining. 25:38 - So many entrepreneurs struggle because they overcomplicate this! To wrap up, I offer this one final piece of insight. Show Links The CEO Planner The CEO Retreat Racheal on Instagram Leave a review on iTunes
46 minutes | May 26, 2022
Increasing Profit and Decreasing Burnout: A Case Study with Sarah Young
Undercharging and over-delivering can be a challenging habit to break. You have to come to terms with the idea of increasing your prices and overhauling your packaging structure.  If you’re like my guest today and feel nervous about raising your prices, then listen up because I have a real-life case study for you! I interview CEO Collective member Sarah Young about her journey over the last 18 months where she increased her price points, decreased burnout, positioned herself differently than other bookkeepers and CPAs, and now enjoys her business more than ever. On this episode of Promote Yourself to CEO: 6:15 - What did Sarah’s business look like before she joined The CEO Collective? She reveals what prompted her to get into business for herself. 10:11 - Sarah feels like her pricing story is a little embarrassing, but she tells it anyway. Everybody has the same struggles, especially women. 14:27 - After some research, Sarah started raising her prices but still found herself burning out. Then something happened in January 2021 that changed her business. 21:28 - What did existing clients think after Sarah raised her price points? She discusses repackaging herself for higher-paying clients and framing a response to those who could no longer afford her. 27:13 - Sarah reveals something she had to come to terms with as she rebuilt her business from the ground up. 28:48 - Where did Sarah find higher-level clients willing to invest at her prices? If you think it’s super complicated, think again. 32:08 - Sarah shares what she sees happening financially with fast-growing businesses when they underprice themselves. 36:09 - How do you build in profitability in your pricing, especially as you hire and grow a team? Sarah offers her insight. 42:47 - Sarah shares what’s been the best part of being a member of The CEO Collective. Show Links Sara’s CFO Checklist Sara on Instagram The CEO Collective Racheal on Instagram
44 minutes | May 19, 2022
Saying YES to Being a Fully Supported CEO with Michelle Clayton
We’ve all heard the conditioned messaging about how to achieve success: Pull yourself up by your bootstraps! No one’s going to work as hard or care as much about your business as you. If you want something done right, you have to do it yourself. If you’ve been struggling with this mindset and haven’t allowed yourself to be fully supported in your business, then this episode should help change your mind. I interview my client Michelle Clayton, who’s the founder of WeLetHerFly.com and a member of The CEO Collective. We discuss how she finally stepped into her CEO role by surrounding herself with support and made mindset shifts in her business that allowed her to get out of the feast or famine cycle that traps so many entrepreneurs. On this episode of Promote Yourself to CEO: 5:18 - Your branding can affect your ability to show up in your business the way you want. How? 9:03 - What happened when Michelle decided to increase her pricing? 13:16 - Your pricing communicates certain things about your business, product, or service. 16:02 - Michelle has undergone another big shift in her business while in The CEO Collective. It’s something I’ve often discussed on the show. 20:07 - How has Michelle’s role as CEO changed? And what did she do to stay creatively inspired when the well ran dry? 26:46 - I ask Michelle a couple of lightning round questions to wind down the show. 30:08 - Michelle discusses why anyone on the fence about joining The CEO Collective should just go ahead and do it. 36:12 - I recap some key things about how Michelle pulled her business out of the feast or famine cycle.   Show Links We Let Her Fly Free Guide: Plan Your Best Brand Photoshoot Ever The Artist’s Way by Julia Cameron The CEO Collective Racheal on Instagram Leave a review on iTunes
31 minutes | May 12, 2022
The Business You Have Today is The Result of The Work You Did 3 Months Ago!
Imagine you’re watching a movie about two solo entrepreneurs: One is so excited about her business but finds herself spinning her wheels. She has an amazing vision for growing her business but goes from one idea to the next because instant success eludes her. The other also loves the idea of growing her business. But instead of constantly changing course while trying everything under the sun, she takes the slow and steady approach and inevitably reaches her goals with the framework and consistency advocated inside The CEO Collective. So in this tale of two entrepreneurs, which one do you want to be? Tune in as I discuss why what you’ve done over the previous few months has resulted in the business you have now. On this episode of Promote Yourself to CEO: 4:57 - What’s the real problem for women entrepreneurs struggling to get clients? I see this so often! 10:58 - My mindset shift during my TikTok experiment thus far demonstrates why giving yourself enough time to try out strategies is so important. 15:44 - Here’s another example of how this struggle plays out for a lot of entrepreneurs. 19:36 - Are you a podcaster struggling to pitch yourself to others for interviews? I reveal what I’ve discovered in my ten years of podcasting. 23:21 - Find out why you’ll never have to worry about bothering people with your offers again, as long as you adopt this shift in perspective. 27:50 - Hiring a coach to hold you accountable isn’t going to do this for you. Show Links The CEO Collective The CEO 90-Day Planner The CEO Retreat Uncommonly More Racheal on Instagram Leave a review on iTunes
44 minutes | May 5, 2022
Double Your Revenue Using a Most Crucial Business Asset with Layne Lyons JD
When you need to grow your business, what do you do? Do you lock out the rest of the world and brainstorm new products, programs, or service ideas yourself, like so many entrepreneurs do? Big mistake! When you try to expand your business this way, you’re cutting out 100% of one of your most crucial assets: your existing customers and clients. In this episode, my guest and CEO Collective member Layne Lyons tells us about how she’s on track to double her business by getting actual input from those already familiar with her business. On this episode of Promote Yourself to CEO: 5:17 - Layne describes her business before it underwent an amazing transformation and reveals her first business bottleneck. 9:39 - What did Layne do to resolve her first bottleneck? What was her experience like after she started putting some boundaries in place? 13:12 - Layne shares what it felt like to finally increase her price points and offers advice to those on the precipice of doing the same. 15:53 - A new offer has opened the door for Layne to double the revenue from her business. She reveals what it is and the journey she went on to get here. 21:31 - What happened when Layne launched her new offer? This demonstrates why asking your existing client base for new ideas is the easiest way to build your next offer. 25:21 - Layne describes how she and her business are different now thanks to the changes she’s implemented. 34:21 - How was Layne’s experience joining The CEO Collective? She offers an inside look. 37:09 - To wrap up, I highlight a few points Layne made about streamlining and simplifying her business to the point where she now works less and enjoys her life more. Show Links Layne’s Legal Umbrella Checklist Book Trademark Consultation with Layne The CEO Collective Racheal on Instagram
40 minutes | Apr 28, 2022
3 Key Strategies to Grow Your Business
As a business growth strategist for over 15 years, I’ve constantly heard and seen something that grates on my nerves. So many so-called experts always hype up the latest tools and tactics that grow your business by some measly amount every year.  But why only settle for five or ten percent annual growth when you can double it instead? You don’t have to, which is why in this episode I reveal my three key strategies to help you rapidly grow your business (doubling or even tripling your revenue) with half the effort. On this episode of Promote Yourself to CEO: 4:35 - I dive into the first strategy right off the bat. You can do it quickly, without engaging in more marketing or attracting extra sales. 9:31 - What’s the most common concern I often hear when I advocate my first strategy? One of my clients recently went through this. 13:55 - I discuss one final key thing to think about when it comes to strategy #1. Women entrepreneurs especially need to pay attention to this! 18:00 - Key strategy #2 involves increasing this aspect of your business. It does come with a couple of caveats, though. 25:13 - What’s the correlation between consistent business growth and time spent on marketing and sales activity? 26:24 - I reveal the last strategy to double your revenue with half the effort. It involves something a lot of entrepreneurs forget. 30:58 - Retention is a huge thing that leads to results, and I talk about the myriad of ways in which that helps your business growth. 33:25 - What happens after your clients have achieved the big promise of your signature offer? 37:08 - To wrap up the episode, I quickly recap the strategies. Show Links Get Paid calculator More Than Money with Jacquette Timmons Racheal on Instagram Leave a review on iTunes
27 minutes | Apr 21, 2022
My Go To Strategy to PLAN for Predictable Profits
If you’re anything like me, there comes the point in your business where your business needs to step up to support you and support your family if you’re going to stick with it. We all got through those startup stages of our business where we knew it was going to take awhile to figure things out and to get people in the door. Once you get a little bit further along on your journey and you’re ready to make this your full-time focus, you need your business to pay you a real paycheck. No one loves to run a business that can’t support the entrepreneur running it. This is why it’s so, so important to have a game plan for how you’re going to design that predictably profitable business. But the statistics show us that most women do not have a predictably profitable business. Over 75% of women entrepreneurs do not earn more than $50,000 a year. And most entrepreneurs shut the doors within the first couple of years. If you are committed to making your business truly work for you and work for your family, you have to have a real profit plan to make it work before you get so burnt out that you throw in the towel. https://rachealcook.com/profit-plan/
30 minutes | Apr 14, 2022
Do You Have a LEAK in Your Predictable Profit Strategy?
Not long ago, I was a guest coach for a business workshop where everyone was working on a poster-size post-it to map out our business for the next 12 months. There were directions to map out your business goals, your offers, and your marketing strategy. I started looking around the room to see where people needed help and I realized everybody in the room had a leaky business. Their marketing plan was not working together. Everyone’s marketing plan was a smattering of tactics… but there was no clear strategy to ensure that all that marketing effort was leading potential clients to their paid offers. The minute I shared with them a different way to approach their marketing strategy, all the light bulbs went off as people could see why all the work they had put into marketing their business wasn’t generating real results. Most people when they sit down and write out a marketing plan, they make a list of marketing to-dos. They need to have a newsletter and they need to blog… they need to do a podcast and they need to be posting on social media. But a marketing to-do list isn’t a strategy unless it all works together to turn your community into paid clients. Ready to fix the LEAK in your predictable profit strategy? https://rachealcook.com/predictable-profit-strategy/
41 minutes | Apr 7, 2022
The #1 Mistake Keeping Women Entrepreneurs from Predictably Profitable Business
Statistically, 80% of new businesses are going to fail within the first few years… so how do you make sure that you’re going to beat the odds and succeed? How do you make sure your business is going to stick it out through the startup stages to get to the success stage where you’re finally making consistent revenue? It comes down to FOCUS. In this episode, I’m going to share how you can get more focused so you can achieve your business goals. It’s all about simplifying your business strategy. https://rachealcook.com/predictably-profitable-business/
22 minutes | Mar 31, 2022
How Designing a Baseline Revenue Plan Gets You Paid Every Month
In this episode, we're focusing on the #1 strategy to ensure that you get paid each and every month in your business… even when you need to take a break from your business. Have you ever found yourself with a family emergency, something that needed your immediate attention, and suddenly, you had no choice but to completely rearrange your calendar? Or maybe you just want to enjoy a fun vacation without worrying about your inbox or your clients. You love the idea of being able to take a week or two off throughout the year in your business, but the same problem exists::?If you’re not working, you’re not getting paid. I know that this is something that’s incredibly common, especially for those of you who are heart-centered service providers. Maybe you’re a teacher or a coach or a trainer and you’re probably running your business by working one on one with clients offering services. While that is a fantastic first step to get your business going, it can also create a bottleneck in your business where, again, if you’re not working, you’re not getting paid. Today, I want to break down a really simple strategy that can start to free you from this dollar-for-hour trap that is not allowing you to take sick days or vacations… and start thinking more strategically about your business. https://rachealcook.com/baseline-revenue-plan/
32 minutes | Mar 24, 2022
Do You Have CEO Level Support?
In my conversations with women, I’ve discovered that we just don’t ask for or seek enough help. We feel like we have to do everything ourselves, and this leaves us feeling overwhelmed, exhausted, and on the brink of burnout. In this episode, I talk about building your own support system. I take you behind the scenes and share how I’ve built teams to help me in various areas of my business and my life. On this episode of Promote Yourself to CEO: 4:03 - When building your own support system, you can focus on several areas. I start with discussing the different ways I receive support in my business. 8:29 - Doing this used to take up a HUGE amount of my time. I talk about it and how my Director of Operations, customer support team, and program coordinator are life savers! 14:42 - I have more people behind the scenes I’m in contact with to occasionally help me on the business side of things. 17:09 - My personal success team at home helps me manage my health. This area is one where a lot of women entrepreneurs still hold on to some old-fashioned norms. 23:21 - I discuss the final area of support I receive. It’s something I wasn’t even sure I’d talk about on the show. 28:18 - You’ve got a permission slip to ask yourself: Where do I need support? Show Links Racheal on Instagram Leave a review on iTunes
30 minutes | Mar 17, 2022
3 Key Mindset Shifts to Scale Beyond 6 Figures
You’re doing all the right things in your business. You have a great offer and clients you adore. Yet, you’ve hit a ceiling in your business. You can’t figure out why or break through it no matter how hard you try. If this feels familiar, then in this episode you’ll learn the three big shifts you need to make to get you and your business unstuck and back into growth mode. On this episode of Promote Yourself to CEO: 4:29 - Are you spending much of your time doing $10 p/h activities in your business? For big shift #1, I go over what $10, $100, $1,000, and $10,000 hourly tasks look like. 12:28 - Many clients hit another plateau when they refuse to make the second big mindset shift. Here’s how doing so can pay dividends. 15:05 - I reveal another challenge I often see among entrepreneurs (myself included), even when they’ve previously overcome the second mindset hurdle. 17:46 - Where was my focus when I hit this business plateau? It took me a long time to admit this to myself. 22:20 - I discuss the final shift needed and reveal an exercise I frequently do to help me get out of my own way. 26:14 - To wrap the show, I recap the three shifts to think about if you’re feeling stuck and unsure about how to move the needle in your business. Show Links The CEO Collective CEO Planner “Are You Making CEO Level Work a Priority?” 80/20 Sales and Marketing by Perry Marshall Racheal on Instagram Leave a review on iTunes
33 minutes | Mar 10, 2022
6 Lessons to Work Smarter, Not Harder
A lot of us entrepreneurs have seen (and heard) from our parents and others that success requires a lot of hard work and long hours. I used to be frustrated with the whole “work smarter, not harder” concept because I saw my entrepreneurial parents embrace the hustle. I thought to gain success you had to do anything and everything and work 80-100 hour weeks. But you eventually reach a point where you just can’t work any harder! So how do you get to that next level of success? Working harder for it clearly isn’t the answer. You need to shift the way you think about your relationship with work. So in today’s episode, I talk about six lessons that will have you working smarter instead. On this episode of Promote Yourself to CEO: 3:48 - When you do this, you get an exponentially higher return on your time and energy. So what’s lesson #1 and how have I practiced it in my business? 7:12 - What does the E in CEO not stand for? I learned this lesson the hard way! 11:46 - You’ve probably heard this phrase before, and there is some truth to it. I’ve had to follow this lesson whenever my business crossed another threshold. 17:03 - So many entrepreneurs, especially creative ones, find lesson #4 challenging to implement. But not doing so can eventually sabotage you. 20:41 - Don’t love the idea of going into debt to invest back into your business? Here’s what I did early on in my business for lesson #5. 25:32 - You can’t implement the final lesson through Google. You’ll face rites of passage in your business when you’ll want this in your corner instead. Show Links The CEO Collective Racheal on Instagram Leave a review on iTunes
33 minutes | Mar 3, 2022
How to Make the Most of Investments in Business
In your business, you have to constantly make big decisions. Who’s going to be your coach or mentor? Who should you hire to join your team? What resources should you use to help run your company? How (and where) will you market your business? It can get overwhelming! So you want to only spend time and money where there’s a return on your investment. In this episode, I cover the five key ways to ensure you’re getting the most out of every business investment you make. On this episode of Promote Yourself to CEO: 2:09 - I reveal why relying on your feelings can sometimes lead you astray in making business decisions. 3:45 - Tip #1 is one of the biggest things that ensures you’re not signing up for something or hiring someone who isn’t the right fit for you. 9:40 - People often get stuck in their journey because they don’t follow tip #2. Even I’ve been guilty of it recently, and I tell you how. 12:30 - So many of us have a hard time with the third tip. I discuss how I’ve seen this inside The CEO Collective. 19:23 - What’s a good rule to follow whenever you’re learning or getting advice from others? Some of my best business breakthroughs have come as a result of this tip. 23:20 - By following this final tip, you establish the ability to create your own economy. I explain what I mean by that and how I’ve benefited from it. 29:26 - To wrap the show, I quickly recap the five ways to make your business investments worth your time, energy, and money. Show Links The CEO Collective Racheal on Instagram Leave a review on iTunes
36 minutes | Feb 24, 2022
ROI of Thinking Like a CEO
We've all heard that it costs money to make money, right? Do you remember the first big investment you made into your business? I do... and it was SCARY. I remember being nervous, excited, and a little nauseous as I wrote the first check to join my first mastermind for $10,000. At the time, I was coming off a nearly year-long maternity leave with my twins. We'd made ends meet with Jameson's teaching salary and a couple of clients I was working with on the side... but reality was hitting us that I needed to dramatically ramp up my business to support my family. Investing $10,000 into my business seemed like a huge stretch for us. But as Jameson and I talked about the vision I had for this business - one that would allow me to support our family while working from home - we knew that it was time to commit 100% and go all in. That decision to?commit?made all the difference. It instantly shifted my mindset from?"How am I going to afford this mastermind? How can I handle this added expense to my business?" to?"How many clients do I need to make back this investment? How can I get a Return on Investment?" I realized I just needed 2 new consulting clients. Suddenly it didn't seem so scary to make that investment. In this episode, I want to share with you the ROI of thinking like a CEO - how we can make smart decisions about when, where, and how we spend our money to grow our business:: 5:30 The big question I always ask myself when it comes to spending money in my business - is this an expense? Or is this an investment? 6:26 The different types of return I'm looking for when I spend money in my business including ROI, ROT, and ROE 11:00 Why I see marketing, branding, and photography as an INVESTMENT into my business because it reflects the quality and value of my offers - and where I'm actually investing in these areas. 14:30 Just to be clear - not everyone needs to invest this much into their brand at the early stages of your business or when your brand isn't holding you back from getting more clients or growing your business. Be discerning and only invest when you have a clear reason why! 16:03 Entrepreneurs are resourceful and will Google all day to figure things out! But it's a huge waste of our time. Hiring support is one of the best ways to buy back your time. 19:00 How you can not only get buy back your time - but get a return on investing in a team member - when you use that saved time to serve clients or attract new clients. 23:45 No one really talks about this unless you are surrounded by other high-performing entrepreneurs and business owners - but the best investment is investing in yourself! 24:46 "Your income seldom exceeds personal development." - Jim Rohn 24:48 These stats SHOCK me - Did you know that 1/3 of high-school grads never read any other book for the rest of their lives. 80% of families haven't read a book in the last year! 25:35 The level of success we experience in our outer world is simply the mirror reflection of our self-identity and personal development of our inner world. We all have a set-point, an internal thermostat, for the level of development. The only way to increase your internal set-point? Personal development. 28:15 Why high-performers invest 10% of their income back into their personal development and the lesson I learned from Darren Hardy about how he approaches investing into his development with books, courses, conferences, and coaching. 29:50 In the early stages of our business, we invest into mastering our craft and learning the other skills required to run a business. 31:15 As you start to grow, investing into yourself shifts from learning how to DIY all the skills in your business to learning how to lead a team, lead your business, and lead yourself.
39 minutes | Feb 17, 2022
You Have a Revenue Goal - Now What?
After setting a revenue goal for your business, the next question on your mind might be, “How do I actually reach my goal?” If that’s you, then you’ll love this episode! In it, I dive even deeper into the actual math behind your revenue goal using real numbers to help you determine what to sell, at what price point, and to how many clients or customers. On this episode of Promote Yourself to CEO: 3:26 - I explain why figuring out how to hit your revenue goals can get a little tricky, especially if you follow so-called guru advice. 10:11 - You have to understand your sales conversion rate which varies based on what you’re selling, to who, and at what price point. 12:26 - What kind of sales call conversion rate do I see among people, even those without much sales experience? 14:53 - Let’s take a look at conversion rates of some other popular promotional methods. 22:56 - How do I know that the price point advice too many “gurus” give to entrepreneurs isn’t necessarily based on any real data? 27:39 - I discuss the biggest problems I see with offering a one-session service and my minimum price point recommendation for your signature offer. 31:39 - Here’s how building a baseline revenue with a higher-end offer can help you grow your income down the line, without sacrificing your time or salary. 34:55 - Remember this about each product, program, or service you create for your business. Show Links Get Paid Calculator Racheal on Instagram Leave a review on iTunes
42 minutes | Feb 10, 2022
How to Set the Right Revenue Goal for Your Business
There’s a tale that’s rarely told in the business world. It’s a tale of two companies. Both make seven figures annually. But the business owners behind them receive a vastly different amount of money as actual take-home pay. What happens once money comes into a business? Where does it go from there? The lack of real disclosure on this in online entrepreneurial circles has led to lots of people focusing solely on revenue goals, not their business’ actual profitability. So in this episode, I break it all down, talk some numbers, and tell you exactly what it means to have a six-figure take home income, not just a six-figure business. On this episode of Promote Yourself to CEO: 3:29 - How much time do you have to invest in your business? Here’s how to take a look at your situation to see what works best for you. 7:16 - How much energy do you have available to you? And what do you need to do to maintain it? 9:48 - Instead of pulling a revenue goal out of thin air, ask yourself this question. I reveal the right way to come up with your number and a free resource you can use. 14:28 - I briefly mention why defaulting to your last salary as your revenue goal won’t work. 15:55 - I talk about what goes into running a business, how to use that information to reverse engineer your target, and a super simple way to figure out your revenue goal. 23:46 - Setting aside a little bit of your profits every month really starts to change the game and your perspective. I break down some percentages in detail. 31:08 - I look at the math behind a $100,000 annual revenue goal and how much you really need to earn to make that your take-home pay. 36:27 - How much tax are you going to pay at this point? This is where you’ll want to get yourself a good CPA. 39:10 - Before wrapping up, I go over the biggest piece of misinformation about growing a bigger business. It stops many from setting a higher revenue goal. Show Links Get Paid Calculator Profit First by Mike Michalowicz Racheal on Instagram Leave a review on iTunes  
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