585. Cracking the Secret to a 6-7 figure business - A strategy I gave to one of my mastermind members

If your dream outcome is, I would like to have the results I'm looking for, the revenue, whatever the dream outcome is and I would like to not have to manage it and have someone else manage it. Start to finish. Your brain will start to look for the ways to make that happen. Hi, I'm Jacqueline Snyder and this is the Product Boss podcast. I've helped launch and grow that thousands of product based businesses, even one of my own. And over the last 20 years, I've seen behind the scenes of businesses just like yours. Whether they are makers, manufacturers, artists or food and beverage businesses. I have spent so many hours studying it all. I've discovered what makes them successful, what are mistakes they could avoid, how did they turn an idea into successful business and what are strategies they have used to make more sales and be discovered by more customers. This is what this show is all about. Whether you're just starting out or you're looking to become a million dollar product boss, I'm here to give you the permission to chase your dreams no matter how big or small. All you need is the right mindset, a little courage, strategy and support and you too can be the next million dollar product boss. Let's do this. Hey everybody and welcome back to another episode. It's Jaclyn Snider here and I'm have been so busy the past few months, we have launched a new program. We are teaching standout society right now live. And it's just incredible. For those of you who joined at the Founders round, we have our inner circle mastermind members where we just had a retreat at the time of this recording where we all got together in Hermosa Beach, California and we saw, we were at the beach and we had cocktails at the sunset and just an amazing intimate dinner together as well as some incredible guests and training, trainings that happened over like the two and a half, three days that we were together. And now I am just hustling, trying to get everything that I want to get done before the summer months roll ahead. Because one of my biggest goals as I've been running this business is that I work really hard when my kids are in school so that I can have time off when they are off and I can be with them. So we've got some big trips planned this summer. Two really big trips out of the country. We're going with my family, my sister, her family, my mom and my family. And we're going to Japan, which is gonna be amazing. I'll be in Canada for a while. So we've got some Great plans. And so I think when you're thinking about your businesses and some of you listening might be like, oh, vacation, like I'd love a vacation where either you're working a full time job or you feel like you have to hustle in your business all the time. You know, maybe you've got lots of markets happening on different weekends or, or your product based business is your hobby and you are also working a full time job or maybe you just aren't spending your money or prioritizing your money for vacations right now or it's not within the budget. Right. And so the thing is, is it's taken a lot of years in entrepreneurship and being the boss of my business to get to this point. But that is sort of the point that I'm at, right? It's like, how can I have the savings that I want to have? Because if you know my story about scarcity and you know my story about safety and security, like money is one of those big things. So how do I have the savings that I have? How do I have the money to pay the bills? But can I also have money to spend on things that I enjoy or like, right? And so it's like, can we have these both ands. And so in talking about that, and I was just recently coaching one of our inner circle masterminators on this now she has a huge business she's blown up over the last year. She's a million dollar business and she has so many amazing opportunities that are coming her way and we've really been digging into. Because if you know anything about the way that I teach, because this is what has changed my life the most, is working on mindset. So I believe that our mindset is the biggest bottleneck for all of us. It's the thing that gets in the way of our own success, our own growth. And I'm telling you, I work on it every day and I have coaches and all the things that I need. Every time that like I decide I want to level up and things get really uncomfortable, I'm like, I need to work on my mindset, you know, in all sorts of different ways. And so inside the mastermind, we kind of toggle between and, and you'll see this in all my programs, but we toggle between talking about the stuff is the mindset, the junk that kind of gets in the way of us hitting our wildest dreams, hitting our goals, having us do something as well as the strategy and action that we need to take to do it. And so for this masterminder and where she's growing. One of the conversations we've had is she feels like she's missing out on opportunities. So there's a lot of opportunities coming her way and she's not sure if she should say yes to all of them, no to some of them. And a lot of times she's hedging her bets, meaning that she has this feeling that it's going to burst, like some bubble is going to burst and then what happens? What if? Right. And so we've been really talking about that over the past few months together. I mean, we work together. Our Mastermind is a six month mastermind. It's unlike others that are a year. But what I've seen consistently is people stay for one to three years inside the Mastermind. They love it, they love the community. It's a very small cohort that we all get to know each other. They love access to me because I can coach them on the side, plus the accountability. And, you know, a lot of people are like, oh yeah, I love being in the Mastermind because it shortcuts things for me. Like, you can just ask someone else, hey, who do you use for ads? What does your welcome series look like? Who built your website that converts so well? So that's like a lot of the shortcuts that are happening. So for this Masterminder in particular, we've been working together for six months. We're going on to working with each other for a year so far, which is amazing. I've had to ask her several times, like, what is, what is your fear of missing out on growth? Because the other side that she's told me is that for her, it's not a money thing, it's not a revenue thing. She actually can live off of quite little and only wants a little when it comes to money. But what's most important to her, what she values the most? And we work on this in the group where we talk about, like, what are our values? Because we have to know this as product business owners. She looked at her values and one of the things that is really important to her is personal well being, health and fitness and time with her family. So having time with her family is really important and having these experiences with her family. So what we've been talking about here is like, what does she say yes to? What does she say no to? What can she put on the shelf? And so one of the things that I've been coaching her through, and I want to bring this to you for you to practice as well, is I want you to start with the end result in mind. So what does that mean? That means I want you to start with what your dream outcome is. Anything that you're going to say yes or no to. Or let's say the stuff you're going to say yes to, I want you to start with. Okay, if I say yes to this, my dream outcome would be what? So for example, if I say yes to this collaboration with a really big influencer and the influencer wants $500 worth of product and I say yes, and in exchange the influencer is going to do X, Y, Z. Like let's say this influencer is going to post about it, put a story, put it on their podcast, whatever it is. What is my dream result? What would I like to get from this? And then you could say, okay, so let's say the dream result is I'd like to make starting one with my investment back on what I'm putting into it, like the 500, maybe I'd like to double that and make a thousand dollars off of that. Okay, that could be one result. That could be a revenue result. Second is I'd like to grow my email list by X. I'd like to get X amount of subscribers, I'd like to get brand awareness, I'd like to get X amount of people to follow me. Right, so it's looking at sales, it's looking at your visibility, like the marketing play of it all. It's looking at the growth of the brand and the brand really being identified in the market and getting in front of new eyeballs. So we've been working on working backwards and saying, what is my dream outcome? And then when she decides what her dream outcome is, she can think to herself, is this the right opportunity for me or is it not? Is this worth my time, my financial investment, my time investment, the energy, the efforts, all the things that are go into saying yes to a project like this. Because I do believe my dream outcome will come true. Hey. Hey friends. All right, so I am calling all product based business owners who are making over a hundred thousand dollars in their business now. Yes, if you are making over a hundred thousand dollars to multiple millions in your business, this is for you. If you are ready to level up your business this year, I have a free masterclass for you. Yes sirree, it is awesome. It's called your three step framework to build a million dollar product based business in 2024. That's right. I'm going to be walking you through three steps in a framework that I have created to build $1 million product based business in 2024. Now before I get into any more details, did you know that only 12% of women led businesses make it to $100,000 a year? And what's even crazier is that only 2% make it to $1 million in revenue. Well my friends, this is where we have to change these stats. I am on a mission to change these stats for product based entrepreneurs like yourself. So if you're at this level and you've shown you've got what it takes, but what got you here is not going to get you to that next thing, to that next level. It's time to learn some new tricks and strategy. So if you're ready to take your business to that next level, I invite you to join us in this exclusive free masterclass, the three step framework to build a million dollar product based business in 2024 where I will teach you the proven step system we and other million dollar businesses use to grow stable businesses, increase profit and remove yourself from the day to day so you can do what you love with the people you love. So if your business is making more than a hundred thousand, maybe you're multi six figure seven figures and multi seven figures and you're ready to kick your business up a notch, get some of that stress off of your plate and really enjoy growing, growing your product based business. I invite you to secure your spot@theproductboss.com provenpath it's the productboss.com provenpath let's make this your breakthrough year. The other thing that her and I have talked about is perhaps actually your dream outcome is achievable in a more simplistic way. So she has a bunch of ideas of what she could do with like let's say this influencer posting information. She's like, should I do this? Should I do this, Should I do this? And when we scale it back and simplify it, it's actually, you know, you don't have to do anything more than what you've just set up and your dream outcome will still happen. And so that's the question. Start with the end in mind, start with your dream outcome and then work it backwards and then ask yourself, can I simplify it? And then ask yourself again, can I simplify it again? Because I will tell you and I am so guilty of this, I can overcomplicate anything and everything. I mean, ask my team, they're probably listening and like spit out their drink right now. They're like, yes, you can yes, you can over complicate, right? I can absolutely do it. I'm a visionary, I think forward, I'm creative, I have all these different ideas. And one of the hardest things is pairing it back and simplifying it and thinking, well, what's the easiest process? And I'll tell you, I'm getting there a lot faster because I'm aware of me over complicating stuff and I'm aware of what I want my dream outcome to be. So your dream outcome. So going back to this masterminder, remember we started with money is not a priority. Health and wellness is a priority. Freedom of time with her family is as a priority. So knowing that when she's choosing to say yes or no to something, does it align with that? Does it align with her values? Because if she's not going to get the freedom that she's looking for, the time that she's looking for, if she's going to skip out on health and wellness because she's so overwhelmed that she has to be, you know, in the office or the studio or wherever it is, the warehouse, working on stuff, then she can really say, okay, this would be nice. But it really messes with my values, with my dream outcome. And if I can't solve for that, then I'm going to have to say no. And it just makes it easier to say yes or no to things. It just makes it more black and white versus a gray area. Another way that she could solve for this is delegating it. Now, this is something I work with my masterminators on all the time. If you've heard me talk about the product last framework, you know, these masterminders, they're all generating, you know, six figures, multi six, seven figures, multi seven figure businesses. And so they've got their ideas, they know how to make their product, they've built a brand to already have a successful business. They know how to market it, at least to get them to the place that they're at. They know how to sell it, at least to get them to the place that they're at. But now they have to kind of figure out the delegation part of it. So. And that's the hardest part. As small business owners, we've done so many of the things actually, in fact, this mastermind I'm talking about specifically, she's like, when I signed up for the mastermind, she's like, I remember you talking about having anxiety attacks managing your team. And she's like, and I was having an anxiety attack in managing my team. So she's like, just take my money. She's like, just help me out of this spot that I'm in. Which was like extreme overwhelm. Right. And so that was the thing that like really pushed her over the, not over the edge, but pushed her towards, like, I need to do something different. And one of the other things we've been working on is delegation. It does come to who on your team can handle certain things for you and or do we need to hire? So when we go back to this example of starting with the dream outcome, your dream outcome can also include, I would like all of this stuff to happen and I'd like to have nothing to do with it. That can be a dream outcome. I would like someone else to manage this entire project, start to finish, and I would like them just to tell me what's happened, what, while I'm on my run or while I'm on a vacation with my kids. Right. You actually can say that. You may not know how you're going to get there yet, but you can include that in your dream outcome. In one of my masterminds, everyone was talking about a G Wagon, a Mercedes G wagon, partially because they are write offs, because they're over £6,000, but also they were all talking about G wagons. And when somebody starts to talk about a car, all of a sudden you start to see it everywhere. Okay, so let's say you're in the market and you want to buy a red car and then all of a sudden everywhere you drive you start to see red cars. You're like, wow, there's a lot more red cars on the road. Well, no, your subconscious is like now aware of the red car and it's just seeing them more. Same thing with Teslas in la. Let me tell you, every other car is a Tesla here and no offense, if you drive a Tesla, but I now compare Tesla drivers to Hummer drivers in the 90s. Same kind of driver, just one's now in a Tesla, let me just say I have two stop signs on my street and Teslas don't like to stop at stop signs. All right, that's just my side note about Teslas, but anyways. And if you're driving a Tesla, please stop at stop signs. But anyways. Okay, so here's the thing. I have now believed that there are Teslas. Every other car is a Tesla in la. And guess what? If I look at the street, every other car is a Tesla. My brain is looking for it now, the subconscious. So if your brain in your dream outcome, I just Went off on cars. But I should really come back to dream outcome. If your dream outcome is, I would like to have the results I'm looking for, the revenue, the results, whatever the dream outcome is. And I would like to not have to manage it and have someone else manage it. Start to finish. Your brain will start to look for the ways to make that happen. Your brain will start to come up with creative ideas. You might wake up in the morning like, I have an idea, I can hire so and so, right? Or I have someone on my team that's already told me that they like doing this, but they can offer that. Or you might be like, I really wanna hire someone. I want someone to come and hire and manage like this kind of project. I'd like to make that happen. I need to make X amount of money in my business to do that. And then your brain will start to look for it. So Tesla example, G Wagon example, red car example, whatever example you wanna use, come up with your dream outcome. You don't need to know the steps to do it yet. You just need to put it out there as to what you want and your mind and your brain will start to figure it out. This is exactly what happened for me when I remember I was at a mastermind that we were a part of. It was an in person mastermind where 40 people are there. And this is before we ever launched a course at the product boss. But a lot of people in the room, we were actually just running masterminds. Cause that's for the first couple years of the product boss, we only had a mastermind. I've been doing this for years. Like I'm an expert at it and an expert at it for product people, okay? But that's all we had. We knew nothing else. And at this one mastermind that I was in. Cause let's talk about mindset change and learning and growth. Everyone there like felt like they were in like digital marketing and they were selling courses, courses on YouTube, just they were course creators and they were doing things online that were different than things that I had done. And so after my time there, after listening to the speakers, after being coached by the mentor, after masterminding with the people in the room. Because the beauty about a mastermind is when you're all at the same level going towards similar goals, you can support each other especially with like really specific types of questions or hot seats. So I'd done that for three days and at the very end they asked everyone to stand up with their biggest takeaway and I stood up and they were like, what's your biggest takeaway? And I was like, I think that we can be a million dollar business. Now, for note, the product boss had only ever made $90,000 to that point. So who did I think I was to say out loud in a microphone in front of 40 strangers, more or less after the three days? I guess they weren't such strangers. Cause I felt courageous enough to stand up and say this, but that I thought that I could turn this business from 90k to a million dollars. A number that I never ever, ever had gotten to, nor had I ever wanted to get to in my brain. I only ever wanted to pay myself a hundred thousand dollars in salary. And I had a half million dollar business and that was it. I never thought a million dollars could even be a possibility. But then after that time, with that expansion and that growth and being in the room with people and then thinking, what is my dream outcome? My dream outcome was, I think we can grow this to a million dollar business. Thinking about the impact that that kind of reach would do, thinking about that kind of revenue, how it could continue to grow this business, to keep impacting people, to hire people, to impact our students around the world, to be able to, you know, do free content all week multiple times, like the podcast and all the things, right? That was my dream outcome, impact and revenue. And so let me tell you, that was in January or February of 2019, and by October of 2020, we had hit a million dollars. Okay, so in less than. And I think in that year that I said I want to make a million dollars, I think we got to half a million dollars, maybe less. Like 400,000, I think. And then I know I'm sharing all my numbers and then we jump to a million again, like, who or what do we think we are to like come up? So I say all of that because I didn't know how. I just needed to know what my dream outcome was. And then with my dream outcome, we were able to then create and find our pathway there. So anywhere you're feeling stuck, okay, whenever you're trying to think, is this aligned with me or is this not aligned with me? Is this what I want to focus on or is this not what I want to focus on? Am I looking for strategy? Come back to your dream outcome, the result that you want, and then work backwards, work backwards from that. And that's what I've been doing. That's what's caused the massive growth in me personally, in my mind and mindset, in my relationships, in this Business in the team I'm building. And then for the people that I'm coaching, especially my inner circle Mastermind members, I mean, I know their businesses the best. They are the closest people to me in our programs and they get random messages from me every so often. I'm like, look at this. Like I'll, I'll send a text to somebody if I, like, see something that's like their product. You know, like I'm thinking about that. Cause remember, I come from one on one coaching and consulting. That's what I did for, feels like my entire career prior to. Actually, only in the last year have I stopped. Nope. In the last three months have I stopped one on one coaching through my other company. So this is what I have done every day since 2007. And it's what I love, which is why I love our inner circle Mastermind, because I love also getting into the nitty gritty. So if that sounds like something that resonates with you, like if your business is making six figures. Multi six. Seven. Multi seven. And you're, you're like, I'm, I'm curious, I'm curious about working closer with you, Jacqueline. You can head to The Product Boss, mastermind.com Just if that's something that you're into. We're enrolling our cohort that's kicking off and that we're going to be working together and it's going to be awesome. And then gearing up for the busy time of the year, which is like Black Friday, Cyber Monday. It's like the right timing to gear up for all that. I think that's just the one thing I want to leave you with, is just to start with your dream outcome because anything's possible. And then start looking for the Teslas, start looking for the red cars, start just thinking, actually, you're not even looking. Your subconscious is going to find its way there. You're going to start to see signs pointing you in the right direction. You're going to start getting downloads in your mind of like, oh, that's how, oh, let me try this. And anything's possible. And then let me tell you, everything is even more possible. When you're working with a mentor or an expert, when you're getting shortcuts there, when you're working closely with Community, that gets you and supports you, it all just starts to get better and easier. That's why we're here twice a week on the podcast in all our programs, our masterminds, our courses, all the things. So until the next episode, I'LL see you then. Thank you for being here and listening all the way through the Product Boss Podcast. If you love our show and it has helped you in any way in your business, would you mind doing two things for us? Subscribe to the show so you never miss an episode and leave us a review. Reviews help other product entrepreneurs know that this is the place to be to grow their businesses and realize that they're not alone. And we know that you all know that a five star and honest review helps you. You sell more products to more people so you know that your reviews help us reach more listeners around the world. Remember, what we give is what we receive and we are all about helping each other in the Product Boss community. We are all in this together. We would be so appreciative of you if you could take the time right now to subscribe, leave a review and even share this episode on social or someone you know so we can impact more lives. And remember, subscribing means that you will get notified each time we release a new episode so you never miss a thing. You have helped us grow and climb into the top 10 of all marketing podcasts and together we can keep climbing. Thank you friends and remember, there is room at the top for all of us.