The 3 essential investments for scaling your business to a multi-six figure success

Hey new listener, thanks so much for checking us out and there's a good chance you have adhd, so I quickly wanted to ask you to please follow this podcast in Apple Podcasts, Spotify, or whichever app you're listening to this on. Don't leave it until later because you will forget. Thank you. Hey new listener, thanks so much for checking us out and there's a good chance you have adhd, so I quickly wanted to ask you to please please follow this podcast in Apple Podcasts, Spotify, or whichever app you're listening to this on, don't leave it until later because you will forget. Thank you. Squirrel in this episode we're going to talk about the three other areas of investment your future multi six figure business needs you to make. Squirrel Hi, I'm Katie McManus, business strategist and money Mindset coach, and welcome to the Weeniecast. Squirrel if you're a human in the modern world, you've probably heard of the term roi, which means return on investment. Now typically, return on investment refers to how much money you make back from that initial investment. And yes, that's a very important part of ROI when it comes to starting a business. How much money are you investing in starting this business and is that going to end up in the red or in the green? Meaning are you going to lose money by making this investment? Are you going to make money by making this investment? Now, the best business owners, the ones who reach the highest levels of success, understand that a return on investment is not just monetary. For you to succeed in your business, you're going to have to invest a ton more stuff in this business. And those investments are you're going to have to invest a ton of time. You're going to have to work consistently and keep working at it, even when there's absolutely no feedback that what you're working on is working. Now, the example I like to use here is sometimes when a client starts with me and we've decided that LinkedIn is going to be the best place for them to post for their business to get clients. Sometimes I get a text a week or so in saying, katie, I'm freaking out. Like, I've posted three times on LinkedIn and I haven't gotten a client from it yet. They've completely forgotten the conversation that we had about how LinkedIn works. I always like to describe LinkedIn and any social media strategy. It's like a slot machine. You're just gonna sit there and put a quarter in and turn the little thing and probably not get a Gumball and then another quarter and probably not get a gumball. And you're gonna sit there and you're just gonna feed quarters. These quarters, if you're not getting the metaphor, are your post and you showing up and being consistent on the platform. But at one point, a gumball's gonna come out and then another one's gonna come out and then three will come out. But for you to get to that point, you're gonna have to feed a ton of quarters into this machine. Also, I feel like gumballs, I'm making them very expensive in this metaphor. Like, how much are gumballs at this point? Can someone please tell me Now, a business owner that doesn't understand this time investment is going to do what I just described those clients do. They're going to get a week in, they'll have posted three things, they won't have gotten a client from it, and they'll think, this, this isn't going to work. And they will give up. Now we're going to talk about this give up point, the failure point, a lot in this episode. I want you to think about all the times that you got to a point with something and it got too hard or it felt like you weren't making any progress and you gave up. And I want you to really feel into what that felt like in your body. I remember hitting this point when I worked in corporate. I worked for a solar company and I was in sales and I was absolutely miserable. And I'd had all these interviews with the marketing department and there was a copywriting position open and I had gotten a verbal offer from the manager. Now I remember this phone call. I remember sitting in my car and I remember the feeling of my throat just dropping into the bottom of my stomach and feeling so sick because I was so excited about moving away from sales and into something where I got to actually learn something new and be creative and didn't have to be on this roller coaster ride of commissions. Because if you've ever worked in sales, you know that a big chunk of your income is commission based. And on this phone call, the hiring manager, who had already verbally offered me the job, told me that someone on the C suite level had put forward their nephew and they were saying that the nephew had to get the job. And I remember hitting this point and thinking, well, what is the point of me even staying in this company? It's too hard. This is never gonna work. And that feeling of deflation, there's nothing like it. There's nothing like it. There's this hopelessness that sets in. And I left the company because it was obvious that it was gonna be too hard for me to make any transition that would've made me happy. Now, in hindsight is the best decision I could have made. They went out of business about two months later. My friends who had been working for them and not getting paid out commissions ended up getting paid like $300 for two months worth of work. It was awful. So sometimes bad things happen for a reason. But I want you to remember that whatever time it was for you, where you hit that failure point and you thought, what's the point of me continuing in your business? That point is going to come up a lot unless you understand the different kinds of investments you're going to need to make. Time is one of them, Money is another one. I have a lot of colleagues who aren't really colleagues because they're not coaching, who I went to coach training with and they invested $13,000 in training and a certification to become a coach. Didn't get any instruction on how to actually start a coaching business. And they went out and they followed the coaching school's advice about go and coach everyone. Offer a free 30 minute session to every single human that you run across in your day. And they did. They spent a lot of time and they coached and coached and coached and it didn't turn into a business for them. And at that point they were out the money, they were out the time and their pride had taken a massive hit. You don't realize this, but you are going to have to invest your pride in this business. There are going to be things that you do publicly that aren't going to work out. And a lot of those people that I'm talking about gave up. They gave up, they went back to working full time in a job or they just stayed in their full time job. They never built a side hustle, they never launched into full time in their business because they never experienced a return on investment from their time, their money in investing in the certification, and their pride. Now, as someone who regularly dresses in a hot dog costume for the sake of my business, I can tell you if you're not willing to invest your pride in this business, you're going to get nowhere fast. One of my favorite authors, when I started my journey of starting a business, like way before I even actually got trained as a coach, Jensen Chero, her book, you're a badass, she talks about how her first business coach pushed her to get these really cheesy marketing pictures taken. And she was cringing at the idea that she was going to have these posted online and that her friends and family would have to see them. And it resonated so deeply with me because I knew exactly how that felt. Because I was so afraid about posting to social media about what it was that I wanted to start. Now, even after I got certified or trained and certified as a coach and I knew what I was doing, it still felt so gross to post online about what it is that I do. Like, what did I have to say? Who was going to listen to me? And also, like, what if my friends and family laughed at me? What if people from high school, the mean girls, what if they saw and then they were talking behind my back? Not that I even talked to them or anyone from high school, but still, if you care too much about what other people think, you're never going to succeed. And this is really hard for people. I have gotten so many messages over the last month from people who are wanting to start a business, but they are held back because the people in their lives don't believe in them. They think that starting a business is a really stupid idea, and sometimes they actively sabotage it. They undercut your confidence and they make you feel silly or stupid for posting to social media. If you want to succeed in this business, you're going to have to do it in spite of them. The last investment that you're going to have to make if you want this business to succeed. Ooh, what am I going to say next? Well, you'll have to keep listening to find out. But first. Squirrel. Squirrel. Squirrel. Squirrel. Join the weeniecast Hyper Focus community and unlock a whole world of support. Get direct access to me in exclusive calls. Turbocharge your network with unlimited referrals, and boost your productivity with Sprint calls and accountability sessions. But that's not all. We're talking expert talks, masterclasses, and more. Register now to get in front of the line for this. At the introductory price of just $77 per month, it's time to elevate your entrepreneurial game. Let's do this together. Go to weeniecast.com hyperfocus all one word. That's weeniecast.com hyperFocus. The last investment that you're gonna have to make if you want this business to succeed is your energy. You can grow a business by sitting there manifesting in meditation all the success and all the clients. You cannot throw money at the problem. I had one client. She's one of the very few clients that I've ever had who never saw any results from working with me. And the reason is, is that she wanted to outsource absolutely everything, but she also was only willing to spend about $30 an hour to do so. So what ended up happening is she hired a whole bunch of people who didn't know what they were doing to do stuff that she also didn't know how to do, and she didn't expend the energy it would have taken to grow her business. Now, in our work together, she was obsessed with mindset. She thought that spending all the time on her mindset was going to make or break her business. And let me tell you, mindset is important. But mindset on its own, without action is going to do diddly squat for your business. If you're investing time and money and maybe a little pride in your business, but you're not expending any energy, you're going to hit that point where you're going to get no results and that sinking hopelessness is going to land in your stomach and you're going to have that give up moment. Now, there are two choices you have here. You can give up, or you can get real with yourself that you're not actually doing the things that are going to lead to your business's success. Oftentimes my clients start working with me at the point where they realize that they're not taking the right action. They've usually spent a lot of time already trying to get this off the ground. They've probably spent some money trying to get some training to get certified. Maybe they've hired someone to build a website for them. Surprise, surprise. All that did not equal a business. They've probably told a lot of people that they were starting a business. Actually, not probably. And they've usually told a lot of people that they're starting a business. And they've started getting embarrassed because those people are starting to ask, how's your business going? And it's not going well at all. And because my clients tend to be very ethical, they feel really bad about lying about how well it's going. But they also don't want people to know that they're crashing and burning. Now, I want to cut you some slack here. If you're at this point in your business where you've invested some time, some money, and some pride and you're not seeing any results and you're getting real with yourself that you're not actually taking the action that will make the biggest difference in your business, I want to cut you some slack that you're not lazy I know as adhdpreneurs, we tend to boil everything down to I'm lazy, I just can't be consistent. I don't know how to stick with things. I'm a flake. Let that go. Go listen to episode 39 if you wanna hear more about that. But for right now, I want you to let that go. That is not actually what's happening here. What's happening here is that you were never trained how to start a business. I don't know about you, but my high school didn't train on that. There were no classes on that. My college didn't train on that. There was no class that I got to take as an adult at the YMCA or my community center about how to start a business. You are literally making it up as you go along. And most likely you're making it up following advice from people who've never actually done it themselves. You and I both know how that goes. The absolute magic of knowing exactly what actions you have to take and what strategy you need to follow can be in the millions of dollars. And I'm not exaggerating here. I know that sounds like a big number, but listen to me. My one to one clients on average, see an 11.1 return on investment over three years in their business. And of course this average is dragged down by the few who never did the work. But imagine if you make an investment in figuring out the right strategy and the right action plan right now, and you're able to take this business that you're not making any money in right now and grow it to $200,000 a year 10 years from now. That's $2 million that you would have generated from this business. Without the strategy and without the action plan. How the are you gonna get there? What's gonna end up happening when you don't have those two things is you're gonna continue to hit that failure point, that give up point, and you're gonna try something and it's gonna get hard and that's not gonna work out. And then you're gonna give up on it and then you're gonna try something else. And again, it's gonna get hard and it's not gonna work out, and you're gonna give up until at some point you're gonna start telling yourself the story that you suck at starting businesses, that you're never going to be able to do this. And at that point, that hopelessness about one venture and a second venture and a third venture is going to evolve into hopelessness about your abilities to become independent, your ability to break out of your corporate cage and actually start a business and live life on your terms, you're going to start believing that's never going to be possible for you. And that gives off big weenie vibes. Now this is true for new business owners who are just starting out. It is extra true for business owners who are already making low six figures in their business and want to scale up. Right. Because the bad news about scaling your business is that the bigger you get, the greater the impact you want to have. The more investment it's going to take for you to even get to that point where you know if you failed or not. Let me explain. So when you start a business, say you're starting a coaching or consulting business, the fastest path to cash is always going to be one on one clients. It's only one person who has to decide, yes, I would like to work with you, here's my money, I would like your service, please. The second fastest path to cash is going to be corporate clients. It's going to take you a while to get these. The average, the average deal cycle is typically six months to a year. It's typically six months to a year. If you have your heart set on working with corporate clients, you have to be fully invested, time wise to see it through. But say you want to grow beyond that, say you want to launch a group, say you want to launch a digital product like a video training program. Unlike signing one on one clients and unlike courting corporate clients, launching a group or a digital product takes a ton more work on the front end to even get to the point where you're going to be able to see if it works or not. This is one of the reasons when clients come to me and they don't want to work one on one with clients and they don't want to do a group program first, they just want to launch a digital product. I tell them no go because I know it's not going to work out. It is so hard to build a digital product in general. There's so much investment that has to go into it and that's just building it. I'm not even talking about having it be successful. A lot of business owners, when they get to that $200,000 mark, they tend to plateau because the things that they have to do to scale to that next level. To get to half a million, to get to seven figures requires that greater investment of time, money, pride and energy. And usually business owners will try it a couple times and it won't go well and they'll face that give up point. And if you have adhd, your rejection sensitivity dysphoria is going to start playing up. You're going to start assuming that people don't like you for this. You're going to start thinking that people actually don't think you're as credible as you are because they're not signing up for your group stuff and they're not buying your digital product. And so starts the downward spiral of anxiety that we know will end in us buying more and more digital courses ourselves to try to figure out how we can make this better. Now, if you are getting close to this give up point in your business, either you're just starting out or you're at that plateaued stage and you don't know what you're doing wrong. I can confidently say there's a 90% chance you just don't have the correct strategy. You're not taking the right actions to start seeing increased results from your business. And this is that point where you have a choice. You can absolutely say, you know what, this is too hard. I'm going to call this a failure and I'm going to give up and I'm going to settle for whatever it is that I have right now and that's just going to have to be good enough. Or you can choose to double down on your investment. You can recognize that what got you here to this point will not get you to the next level. To get to the next level, you're going to need different skills, you're going to need different tools, and you're going to need a strategy and an action plan that is customized to your personality, your zone of genius, and to your business type. And if you're ready to push past that give up point and make this work, then I invite you to book a generate income strategy. Call with me where we will take an honest look at what you've done so far, what your goals for the future are, and the steps that you can take to get there. To book this, click the link in the show notes or go to www.weenacast.com strategycall. My parents poodle farts all the time. It's like you have to leave the room. It's so bad. Squirrel. Squirrel. Squirrel. Squirrel. Are you an entrepreneur? Are you struggling to stay focused and organized while juggling a million tasks? Are you looking for ways to improve your productivity but finding it hard, hard to stay motivated? Then you need to get access to my Weeniecast for winners show. That's exclusively on Apple Podcasts. I know you might be thinking, I've tried everything to stay on task and nothing works. But I'm enjoying the advice I'm getting here on the weeniecast and let me tell you, I'm delighted to be able to help you and thousands of listeners just like you, my friend. But the weeniecast for Winners podcast is next level and I'd hate for you to miss out on it. 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Weeniecast for Winners is a show that's worth every penny for entrepreneurs who want to succeed. Subscribe now and start enjoying the benefits for yourself. Join the weeniecast hyper focused community and unlock a whole world of support. Get direct access to me in exclusive calls, turbocharge your network with unlimited referrals, and boost your productivity with Sprint calls and accountability sessions. But that's not all. We're talking expert talks, masterclasses, and more. Register now to get in front of the line for this at the introductory price of just $77 per month, it's time to elevate your entrepreneurial game. Let's do this together. Go to weenicast.com hyperfocus all one word, that's weeniecast.com hyperfocus.