Show Up Exactly Where You Are
I have been so privileged to meet entrepreneurs from all over the world from many different industries, and I have been asked lots of questions about building successful businesses. One thing I have noticed, over and over again, is that entrepreneurs (who are naturally forward thinkers) tend to ask futuristic questions, rather than asking the questions that will help them RIGHT NOW. I love that you are thinking ahead and that you have BIG DREAMS – there’s nothing wrong with that – but your focus needs to be aimed at what you can do to move yourself forward today, not six months from now.
There are three phases to any business: the LAUNCH phase, the STABILIZING phase, and the SCALING phase. You need to recognize which phase you are in, and ask the questions that will be the most impactful to your business in your current phase. Keep in mind, there is no wrong phase – you are where you are! I spent over a decade in the launch phase, which is when you clarify your mission and figure out exactly what you offer and who your ideal client is. It’s OK to take the time to figure things out – it doesn’t mean you aren’t working and making money, it’s just that you are getting clear about what works well and what misses the mark. This is the time for pivoting when you realize that there is a better way. It’s a trial and error stage, and many people do very well during this phase out of sheer enthusiasm. The launch stage is exciting, so embrace this time!
Questions you might have during the launch stage:
- Who is my target audience?
- What do I offer, and what are the price points?
- What programs should I have in place?
- How do I create multiple streams of revenue, and what might those be?
Wealthy people typically have 5-8 revenue streams. During the launch phase, you want to start thinking about what those revenue streams might be, and where they will fit in your business plan. Maybe in your launch, you have 1-2 revenue streams, but your goal is to have 6 of them by the time you are in the scaling phase. These are all things to consider during the infancy of your business.
In the stabilizing phase, there is a consistent income, but not necessarily big movement or growth. You have a process, and you are making money, but you are still a one-man or one-woman show, with no employees. You aren’t taking a day off when you want, because there is no one else to pick up the slack. I think I spent about nine years in this phase. This is tough, because you have an established business, but often, this is where entrepreneurs can get burned out. The idea of having a team and handing off some of your responsibilities can seem scary, which often keeps a lot of small business owners in the stabilizing spot for quite awhile.
Some questions you might ask during the stabilizing phase:
- How are my systems working – are they leading me to a place where I will be able to scale in the future? (Systems are a set procedures for different aspects of your business, such as marketing, payroll, operating procedures, etc)
- Do I have adequate structure, so that I will be able to hire a team and train them to do what I do?
- Am I spending money on marketing to grow my business, and I am evaluating the effectiveness of my marketing strategies?
- Am I consistent in my systems and structures?
When a business gets to the scaling phase, it’s time for growth and reaching a larger audience. It’s time to evaluate what work can be passed off to team members, what kind of marketing can best increase the sales, and how often to do that. The key to scaling effectively is consistency, along with having the right people in place to accommodate growth. I have seen businesses that scale too quickly, which puts them in a position of not being able to deliver what they promised. They didn’t have systems in place. Systems allow anyone in your organization to know exactly how to execute any task that needs to be done, which frees up your time to be the creative CEO that you are meant to be.
Questions you might ask during the scale phase:
- What are systems and programs that are duplicatable?
- How can I make passive income? (Think books and programs that can be sold online while you sleep)
- Do I know how much I can scale at this time? (be careful about scaling too slowly or too quickly, because either one can cause trouble)
At one point, my business almost collapsed because I was scaling too quickly – be careful with this – if you need to take a step back to stabilizing, then do that. We can shift between the phases whenever it’s needed, and there’s no shame in putting the brakes on if you think you’re going too fast! Know your capabilities as well as your limitations, and you can make scaling a fantastic part of your business venture.
So, remember – ask the important questions that you can put into action immediately, and save your future questions for when they come up. I know we all get excited and like to think 10 steps ahead, but it will serve you to be present in the moment, and get answers that can get you moving toward the next phase.
I love having these conversations with you – this is a dialogue, not a monologue, so please join the conversation! This is our community and our tribe. I would love to hear your #BOL (breakthrough out loud) about how asking the right questions at the right times has served your business and helped you to take action. What is a question you have asked that made a big difference in your growth, and what stage were you in when you asked it? What questions would be best for you to ask right now? Let’s keep this discussion open! Until next time, remember that I love you and I believe in you, and I want to see you shine like the star that you are!
Your Sister in Prosperity and Possibility,
You are helping me breathe life into what God whispered into my heart many years ago about writing a book on joy. I have the rough copy I had an editor look at it and he was going to publish it but on the way out of the meeting he started dropping some inappropriate comments and my hair raised up and my gut sank. It gathered dust until I had an editor look at it and her feedback crushed me and I believed her when she said I wasn’t good enough and it God’s gift has been gathering dust again. Until I was participating to Eric Worre’s accelerator program and you and the makeup entrepreneur (blanking in her name) starting speaking into it again. Plus the live training with Jack Canfield, I started implementing the success principles. Why would God give me something and instruct me to do something that would fail. I trust the journey He has laid out before me and it’s fruition has already come to past! Thank You Lisa! I look forward to the day we can meet in person – while my purpose is to bring hope to the masses! Many Blessings, Janet
Hi Janet
Thanks for sharing. I’m sorry you had to endure what you had to. Criticism can be useful. Find out what’s wrong with your work then do your research, ask questions, do all you need to improve it. Use the criticisms to make your book the awesome product it was designed to be.
In 2019 I was instructed by my inner voice to write a book. I was so excited, I didn’t do any research. I paid someone to edit it who told me to go ahead and publish. It was after publishing that I learnt from someone who was excited to read the book that the book needed a lot of work. I had already spent lots of money but I was determined to do my best to get it edited properly.
I did my research and I watched videos of writers talking about their journey. It took me three months to produce the first copy, then one full year to edit it. As I learned I understood and I saw what the lady who criticized my book was talking about, so I called her and told her thanks.
I got a different person to publish the new version of my book and she made a mess with the format. I spoke with her and she did nothing to correct it. I found this out after purchasing 100 copies. I was upset but I told myself everything happened for a reason. Maybe life wanted me to learn the process.
I had to research again then did the formatting myself and paid a third person to publish.
All of this happened because I didn’t understand, but the lessons learned were far greater than my disappointment, loss and failure. I will not have to endure the same things next time because I have learned some valuable lessons.
Don’t give up. Use the criticiticism to create a best seller. Hope this was helpful.
Regards,
Tamieka
Wow, it’s like you read my mind today.
I guess a question I would have if this is where I’m supposed to leave it is what if the topic is a truly sensitive topic are there specific ghost writers for that? Like in my case, which is domestic violence.
Thank you, Lisa.
I loved your tips.
I also struggle with grammar and it’s such a relief to know that I don’t have to be perfect at that. With others support I can get my message out. That no longer is my excuse!
Thank you!
Love Nancy
Lisa,
Thank you❣️ People tell me I need to write a book, and you just removed a huge boulder of a block. Now with your words in my mind, I will open to divine guidance to see what comes to fruition. Thank you Love you❤️
Thank you Lisa I love and appreciate you
Thank you so much, Lisa.
I thought I had to do all the work, the grammar and edits until you reminded me of information I already know, because I’m training myself in copywriting and the word copyeditors was used. again thank you for that memory.
Live with passion!
When you said that having a ghost writer or an editor was not cheating. That was an aha moment for me, because that was in my head.
It is intriguing to note that the level of simplicity expressed in your talk has all the ingredients to reverse any damage one may have otherwise encountered if this guideline is missing or absent, your experience is our best teacher, and we are better off as a result of it. Thanks for sharing and making it possible for us to apply this practical knowledge, it will save us time and some disappointments.
Greetings Lisa,
Hope this email finds you and your family doing well. My BOL: This is not cheating. Could you refer a ghost writer that could edit a dissertation once I am ready to write? My goal is to complete my PhD in educational technology then devote my time to our business. Love you so very much, Catina Winfrey ❤️❤️
Lisa,
Thank you for being authentic, caring and loving in your presentation! I have had a book in me for years and years but afraid to write it because I doubted my grammar and ability to get a book publish. Your presentation has stirred up hope in me knowing that with a ghost writer my book can be written. God bless you and I know one day he will allow me to meet you. Albertina
Thanks Lisa for your tips. I am at the launch phase. I will use your tips as a guide to help me with my decision making. Thank you, you inspire me.
Tamieka
Hi Lisa!
Thank you for the video! It is particularly beneficial since I launched a Behavioral Health Company with $63,000.00 that multiplied to $8.2 million in about 4-years. Sounds great, except I did not stabilize it. I went from launch to growth, and it folded. Not so great, after all!
As an entrepreneur (determined to own another business), I am in the launch phase again, except it is an eCommerce business. I am in the launch phase, knowing what to do to conclude a successful launch. I need to learn more about the stabilization phase and navigating financial consistency.
I look forward to learning more.
Thank you
Hi Lisa,
Thanks so much for all that you do for us. I can definitely say that I am in the “launching” phase of my business. I got the LLC in April of 2022. It’s good to hear you say that you were in this phase for years. I have been in this phase for less than a year and already feel so behind. My outlook is now more positive after hearing about these phases and that this is a process. I will now focus more on what it will take to continue launching my business and get off to a great start. –
Yours truly, Jameelah
Thank you Lisa:
I am always encouraged each time I listen to this video. It is always a reminder to take stock on my journey as an entrepreneur. I will be sharing the video with 20 Women in Business that I have been training for the last 5 months. I hope they too will be inspired.