If you know me by now, you know I LOVE starting businesses. It’s kind of my thing.
And, honestly, a lot of them fail! Of course I’m disappointed when a business doesn’t do well, but I always try to learn, grow, and move on as quickly as possible.
But in 2017, I was able to grow a service based business from nothing to $100,000 in revenue in only 8 months.
And I started the biz with only $50!
So what kind of business did I grow?
Drum roll please……
A dog walking business!
I know, not ground-breaking stuff here. But before you click away, wait!
It’s not about the TYPE of business I grew, it’s about HOW I grew it. I used basic business principles that everyone needs to know in order to be successful!
By the way, I also have my blogging business which is my true passion!
But before I grew my dog walking business, I was struggling A LOT with my blogging business. I was making less than $500/month after 3 FREAKIN’ YEARS! (and no, that’s NOT normal!).
But as soon as I understood what it actually takes to build a business based around what my CUSTOMERS want and not what I WANT, I went back to the drawing board on my blogs and built them into 5-figure businesses in LESS THAN 6 months!
Are you thinking about starting a blogging business? Grab your seat at the FREE masterclass to learn about how to make money blogging:
So what steps did I follow to grow my 6-figure biz?
Let’s look at the steps I followed that can help ANYONE grow their own 6-figure service-based business!
1. Choose a niche that WORKS
I’ve discovered that the FASTEST way to build a business is to have a really specific niche.
You don’t absolutely need a specific niche, but it will help you find your ideal clients way faster!
One of the things I’ve been blogging about since the beginning is the 4-P method for choosing your niche. You can read more about it here, but I’ll give you a basic run down!
Your niche should have 4 basic elements:
Passion: You should definitely be passionate (or at the very least enjoy) your niche! Being passionate about what you do shines through in your work and helps attract high-quality clients!
Purpose: You should have a really good understanding of your purpose (i.e. your WHY). This is both your personal why (what drives you) and the why for your customers/clients (what problem you’re trying to solve for them).
Popularity: Although you can find an audience in literally ANY nice, you don’t want to reinvent the wheel. Choose a niche that you know has some popularity and some demand in the market.
Profitability: Before starting any business, have a clear understanding of how you can monetize. What are some products or services that are available in the market? How successful are they?
2. Figure out the pain points in your niche
Figuring out the “pain points” of your potential audience means a little detective work!
Where is your audience hanging out? Are they in community forums? Facebook groups? YouTube communities?
This is why choosing a niche you’re passionate about REALLY helps, because you already have an understanding of where your ideal clients will be!
Take some time to interact and engage in your community. What does your audience need? What frustrates them? What are their goals or what are they trying to avoid that you can help with?
3. Understand your audience
Understanding your audience is CRUCIAL when it comes to messaging. You need to take some time to really get inside their heads.
What should you know about your audience?
- Their demographic (age, gender, etc.)
- How they speak (casual or professional)
- Common goals
- Where they like to hang out
- Likes and dislikes
Having a really good understanding of your niche (and the people within your niche!) will help you understand HOW they want to be marketed to!
4. Tweak your service as you go
When I started my dog walking business, it was pretty bare-bones! I was taking cash payments and leaving little notes at the end of each visit on lined paper.
Not the most professional!
But the key is that I didn’t wait for everything to be perfect. I just went for it and learned as I went!
Within 6 months, I had speciality software for booking walks, I had a payment system that accepted credit cards, and I was set up with professional insurance.
I jumped in and figured it out as I went!
This is SO important for new entrepreneurs to do. You need to start getting your feet wet and testing the market ASAP to figure out how you can tweak and modify your services to really wow your clients!
You need to start small so you can go from good to GREAT!
There are four basic things every business needs to be successful:
A desirable product/service: it doesn’t matter how GOOD your products and services are if nobody wants to buy them! We can get so caught up in creating things for ourselves that we forget to think about what our audience needs.
The right price: You may THINK your service is worth thousands of dollars, but if your audience doesn’t think it brings them value, it’s worth nothing! The same goes if you price yourself too low. If you’re not making enough money per client or per product, your business will be doomed to fail!
The right audience: Say you have an AWESOME fitness course for new moms and babies. It’s loaded with value and it’s priced right for your market. Now imagine you advertise that course in front of 15 year old boys.
You’re probably not going to get any sales.
Does it mean your product sucks? Absolutely not!
Do you need to start dropping your price? NO!
But so many of us start second guessing the WRONG things when it turns out we just needed to get in front of the RIGHT audience! And this brings us to the fourth element of a successful business:
The right advertising: The key to actually getting sales and landing clients is getting in front of the right audience, with the right message, at the right time!
I hope this helps you build your very own AMAZING 6-figure business in 2020!
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