20 minutes | Jul 16th 2020

14: 4 Secret Fears Holding You Back

One of my mission in this world is to help people stop trading their time for money.

And one of the biggest benefits of being an entrepreneur is generating income 24/7 without being directly involved - it's called Freedom.

The way I do that primarily is by helping folks create scalable digital products - whether it be online courses, coaching programs, virtual summits, etc.

In this episode, I share 4 secrets fears that holds people back - and in this context, building digital products.

Show Notes

[03:19] Fear #1: Money

  • Ask yourself a series of questions. How much is financial freedom worth to you?
  • Financial freedom means the income that you make is enough to cover your expenses in perpetuity without having you to pull levers to earn it
  • What is time freedom worth to you?

[04:36] Why entrepreneurs get stuck financially

  • When I was starting my business, there is a season of hustle but you can't run a business out of hustle. You'll burn out.
  • I reached a point where the market cannot tolerate the price increase.
  • You might be making an impact on your business but not life-changing levels of wealth.
  • The solution is to bottle up what you know into a digital product that you can sell over and over again.
  • You have a sales channel that's open 24/7 called "Digital You"

[07:42] Fear #2: I don't have time

  • Audit your time for two weeks and be as granular as you can.
  • More hours rarely fix the problem. In many cases, more hours compound the problem.
  • Start time allotting time (for ex 1 hour) for a digital product.
  • The more time you free up on your calendar. the more time you can put on building a digital product.

[10:19] Secret Fear #3: I have no confidence.

  • Building something once and selling it a thousand times takes believing in your skill-set and wisdom. That's where the confidence needs to come from.
  • Ask yourself: Do I know what I'm doing?
  • The feeling of having not enough social proof will never go away.

[15:03] Secret Fear #4: Finding the right time

  • Finding the right time is just an excuse.
  • There's never a good or a bad time. There's just time.
  • Create small steps: Ask your audience with their pain point.

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