Scaling a business to 7 figures is no easy feat. I’ve struggled to get there in previous businesses that I owned, and I made a lot of mistakes along the way. It was through these mistakes that I was able to scale my own business to 7 figures, and I want to help you get there too..
Today, I’m looking at the traps and common mistakes we make when scaling our businesses to 7 figures and beyond. We’ve all been there—caught in a cycle or two without making much progress and no idea why the things that used to work, have stopped producing results.
In my previous article, we were all about the do’s of scaling your business to seven figures – the must-haves, the essentials. But today, I want to spend some time in the don’ts. The common pitfalls that can slow you down or even hold you back altogether.
We’re talking about those things you might not even realise are holding you back, the habits and strategies that might seem like a good idea at the time but can actually be sabotaging your growth.
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Mistake #1: Blindly Spending More on Ads
We often assume that to scale up, we simply need to pump more money into ads and reach more people. But here’s the truth: there’s a point where this strategy maxes out. You might notice an initial spike in sales, but soon, your profits could start to dwindle, despite increased spending. Facebook and other platforms are like eager puppy dogs, serving up the best leads first. Eventually, to reach further, the cost rises and the yield might not justify the spend.
Mistake #2: Obsessing Over Tiny Details
Next, a big misstep: becoming overly fixated on minute details, hoping they’ll make a world of difference. Obsessively tweaking button colours, subject lines, or changing your funnel software to optimise your open rates might seem like the right thing, but these optimisations typically offer marginal gains. Let go of the small stuff and instead, focus on the moves that make a significant impact.
Many of us dream of that one big launch that turns everything around. However, those lucky situations are very rare.. Most successful course creators don’t strike gold overnight. They’ve spent years methodically refining their strategies. It’s not about finding that elusive perfect launch; it’s about consistent, steady progress over time.
Mistake #3: Getting Caught in the Launch Stress Cycle
The allure of launch adrenaline can be almost addictive, but it often leaves creators overworked and distracted from other crucial aspects of their business. We advocate for “evergreen launching,” a less stressful, more regular approach that doesn’t solely hinge on big launches but includes strategic funnels that consistently bring in sales.
Mistake #4: Seeking the Magic Bullet
The endless search for a quick fix can derail your path to success. In the quest for overnight solutions, many creators end up discarding foundational systems that are essential for growth. Steer clear of the magic bullet mentality. It’s crucial to stay committed to building robust systems that set you up for long-term success.
The Mindset Shift: Investing in Growth
Lastly, let’s tackle a mindset barrier—the overprotectiveness of profit. Growth is not a linear journey. There will be times when profit margins dip due to necessary investments in resources or team expansions. Embrace this, but do so wisely. Scaling your business usually requires more than doubling down on your time; it needs thoughtful allocation of resources. Reinvest where it counts, be it time, money, or expertise, and align these decisions with your growth goals.
If any of these scenarios sound familiar, know that you’re not alone. We’ve all made these mistakes, and they are part of the learning curve., Remember, scaling a business to 7 figures is a journey of consistent refinement, and with the right adjustments, you will continue to grow consistently over time.
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