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5 Secrets to Earning Six Figures (or More) In Business

There are five critical keys to unleashing a 6-figure business: mindset, message, market, money, and methods.

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4. Money

Get your money and business model nice. Although I say money and model, I also mean knowing your numbers. Passion alone won’t build your business. You have to focus on cash flow because that’s what we do: we solve problems for profit.

So you have to know your numbers, i.e. client acquisition costs, break-even analysis, cash flow/working capital, revenues, etc. When in your work do you hit the profit point? What is the minimum amount you’d have to charge to ensure you hit your income goal? What will your market bear? Is that in line with your goals? How will you make up the difference? Are you clear on where you must spend time to make profit? How much do you have to charge to achieve your income goal for your business?

Knowing how to set your prices and create value-based packages is essential, but more important is knowing which model you are building your business around.

5.Methods

Get your methods concise. Here, I mean your marketing and operational systems. What will you do consistently to expand your reach, attract new clients, close new business, and build your team? Is what you’re doing now documented? Do you have an operations manual? Do you have job descriptions of who you need to hire even if you’re not ready to hire yet? Which marketing streams are you using? How are they working for you? This includes how you will communicate, build your marketing and prospect lists, and what systems and software you will use to grow.

While the Internet has brought entrepreneurs some of our greatest opportunities for leverage, it also brings tons of distracting chaos that causes us to easily lose focus. Today’s entrepreneur is caught off-guard and not focused on what I like to call PPAs or “Profit Producing Activities”. You know — the things that lead you to new clients and income.

Regardless of how you are building your business, on or offline, unless you know and understand the five keys to unleashing, it’s unlikely that you will experience a life and business that brings you joy.

Connect with Darnyelle on Twitter.

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Darnyelle A. Jervey, MBA is anaward winning author,  sought after speaker, award-winning certified business coach and marketing consultant, Darnyelle A. Jervey, MBA, is the founder of Incredible One Enterprises, LLC,  a full service marketing strategy, empowerment and business optimization consulting firm that specializes in offering business leaders marketing and business optimization strategies, empowerment and executive coaching solutions to individuals and organizations worldwide.

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