July 22, 2020

How I’ve structured my online business to replace my six figure salary (and thrive during quarantine)

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How I’ve structured my online business to replace my six figure salary (and thrive during quarantine)

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It’s the “can I pick your brain” topic I get most.

It typically comes from someone looking to leave their 9-5 or take their business online. They want to know, how does this whole online business thing work? How did I do it? How could they do something similar?

Today I’m pulling back the curtain to share with you how I’ve structured my online business and how it’s evolved over the last two years because just 18 months ago I was still working in corporate full time.

I’m a firm believer that when you have a clear pathway (ie menu of services) for how people work with you through different revenue streams, you make business easier on yourself and for others to work with you. 

Inside this episode, I’ll share my 4 primary revenue streams:

  1. Paid Speaking
  2. 1:1 Coaching
  3. Group Coaching 
  4. Digital Courses & Workshops

Episode Show Notes

Importance of having a strong business framework

(06:21) When you have a really clear pathway, like a menu of services if you will, around how you work with people in different ways, you make your business not only easier for you, easier for people to work with you, but you also make it stronger, for lack of a better term.  You make it stronger and less susceptible to the volatility that happens that you can’t control, the outside forces like COVID and a quarantine, like the economy, like whatever other external factors we can come up with today. 

What happens when you have a diversified business?

(06:55) When you have a diversified business that has different kinds of revenue streams, you are far more likely to survive difficult times.

Why is it important to define how you’re going to work with people?

(16:11) You need to be able to know what you’re going to say no to, just as much as what you’re going to say yes to, because when you say yes to the things that light you up, work becomes far more fun. If you find yourself working on things that you do not love, you may as well just go back to corporate, like, hello, you’re running your business so that you get to choose what you work on, so be picky and work on the things you want to. 

When to say no to requests?

(17:20) This comes down to what do you enjoy doing and what are you really good at? When you narrow that down, it makes it easier to say no to the things that don’t fit in those bubbles.

Tip on how to achieve your mission of making a bigger impact

(25:46) I think the goal is if you have a bigger mission to make an impact, bigger than you’re making right now, and you know, it’s going to require you reaching far more people than you can ever work with one-on-one. I want you to start thinking now, strategizing how you can start taking what it is you do and start replicating it in a way that can grow into a scalable solution, whether that’s a digital product, whether that’s teaching a workshop, whether that’s doing a group coaching program. 

Business as an evolving thing..

(28:38) That’s so terrifying to say, but also it’s really exciting because it means that you can invent yourself as you go. That’s really what this whole online space is about. I feel like it’s a constant trial and error in the most beautiful way, because you can be so agile and nimble online and try things and then recreate and try something different. 

Chemistry in coaching relationships

(27:55) You want to work with the people that you jive with, the ones that you have fun with and the ones that you know, you can get results for. There takes some willingness and there has to be chemistry.

I think in a coaching relationship, which I think is really important, you get a lot of different coaches. You can, everybody’s selling something, right? But I want chemistry with the people that I work with. That’s what I look for when I invest in other people’s programs that I know for sure my clients look for that too.

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