Breaking Down The Real-Life Principles That Matter To Help You Join The 4% Of Businesses That Make The Leap To 7-Figures
MANAGEMENT • 4 MIN READ
The 7-Figure Entrepreneur Mindset
90-95% of entrepreneurs are missing the mark…
Not spending their time on the right things,
Not focusing on the key drivers of a scalable, 7-figure business…
Are you one of them?
In this episode of From 6 to 7 Figures, one of my best friends Chandler Bolt and I lay out exactly what you need to focus on EVERY DAY – so you can start to build rapid momentum towards 7 figures and beyond.
Chandler is the Founder of Self-Publishing School, taking it from 0 to over $6 million in revenue by the age of 26!
Lesson #1 – Focus on the Core of Your Business
In order to go from 0 to your first million in revenue, you need to focus on two things:
- Creating a product or service that solves a REAL problem that people have.
- Be world-class at marketing and selling that product/service.
Don’t overcomplicate this.
At the business, it’s all about creating an offer that the world needs, and then getting it out there to the people who need it.
Until you have these two things dialed in, everything else is just noise or a distraction.
Action: Dive deep into your customer avatar and really understand their his/her pain points and buyer’s journey.
What keeps them up at night? Is it painful enough for them to hand you money in exchange for solving that problem?
Then build your marketing around those pain points, leveraging your unique differentiators and urgency to acquire new customers rapidly.
This is an important exercise, as many business owners THINK they already know this…when in reality, they haven’t dug deep enough into the core of why customers should buy from them.
Lesson #2 – 90-95% Don’t Spend Enough Time on Marketing
No matter how good your product or service is, marketing is where you need to focus most of your energy when making the leap from 6 to 7 figures.
Chances are, nobody knows who you are unless you’re already established as a major player in the market.
They don’t understand why they should buy from you vs. your competitors.
They don’t understand why they need to buy from you RIGHT NOW.
And they don’t trust you yet.
To see the same growth rate that Chandler has, you need to spend time daily on marketing.
Action: Choose ONE customer acquisition channel that is currently working the best for you, and double down on that.
Block off time in your calendar each day for growth-oriented activities so that you can jumpstart your lead gen!
Lesson #3 – Expand Customer Acquisition Channels to Go Beyond 7 Figures
Once you’ve dialed in your first marketing channel, you need to move on to the next one.
At the beginning, it’s important to focus on getting ONE right…
But after that, diversifying your acquisition channels is key to protecting your business from the feast-or-famine cycles that keep most businesses in 6-figure territory.
Action: Know your business numbers inside and out…
For example, your CAC (cost to acquire a customer), CPL (cost per lead), CPQL (cost per qualified lead), etc.
Once you know these numbers, you know EXACTLY how many advertising dollars you can put into a channel, and what results you need to turn a profit.
Start small and test with a reasonable portion of your marketing budget. Then once you’re able to hit the numbers you want, you can allocate a larger portion of the budget to that channel.
This will take you to 7 figures… and then multiple 7 figures fast. 🙂
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Key Topics Discussed:
[10:49 – 13:12]
Chandler: if people said they dont deal with mindset issues then they have mindset issues and theyre not aware of their mindset issues some happy all the time and then we all sabotaging our success we all come into wordiness issue or who am i to do this, things like that and I think the biggest just speak on that like the biggest thing that i would recommend for folks and i get super fired out about this is yourself talk and I got this video in my youtube channel bout how you need to watch your language and it’s not what most people would think cause I think that the things that we say out loud daily and forms our subconscious and that forms our conscious action and so if I say oh I’m just not much of a business person, oh I don’t like the numbers, I’m not good at numbers, I’m not good at systems, I’m not good at sales, I’m not good at marketing, I don’t like the sales, I don’t like the marketing and were speaking that into excistence and so one of the first things i do with people and in my team and ive had to do for people, for myself, is ill just really grilling to any time a hear that negative self talk we have these two phrases:”used to” and “Yet”. and used to is like ‘i used to be bad at systems’,’ i used to be bad at numbers ‘and yet is just kind of a way that positively reframed the ‘ im not good at systems yet’. right, so it’s just like it seems like a super small difference but I found that from a mindset perspective that if I change my language and those phrases it goes from current identity channeler to past identity channeler and when my subconscious fused it as past identity channeler well then now that’s no longer who I am so it’s no longer in line with my future actions so like one example for me is that a part of my talk ive been this c-level English student, college dropped out all this stuff so part of my talk so yeah im a crappy writer and I suck at it and then one day I realize im like ive kick this out for the rest of my life but this talk because its like part of my hero journey story im like what if I just change that language to be I used to be bad at writing, so now this is can still be a part of my story but it’s not impeding who I want to be and the skills that I want to develop and in terms with minset I would say used to and yet and really just changing your language and eliminating any negative especially verbal self talk about youself.
[13:12 – 13:34]
Austin: That’s huge. I told myself that it was masters of systems, literally years before I can now say that hey I’m pretty darn good with the systems and other things like that it takes a long time and one thing need is to have this.and you know that we are inlined with this and that discipline is our superpower. talk about some of the key hobbies that really develop you and you recommend to everyone watching.
[15:05 – 15:52]
Chandler: On the personal side morning routine starting tomorrow and that’s not negotiable and I would say to that. and on the business side, I would really challenge you to say which part is my blindspot, is it systems or is it sales and marketing, and i want you to do one action for the next 4 days, 5 days whatever the next calendar week looks like for a year. do one action daily and put that as part of what I would call prime time, morning time and before you do anything at all spend an hour on that one thing and I think that would be an impact for an, obviously that these guys are world-class when it comes with to systems, work with these guys if you get an opportunity because there is just no one talk about this stuff from the way that I’ve seen and the way you guys to about this..
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