The first purchase when starting a business is always the hardest. I remember when I decided I was going “all in” on my dream of being a business owner and I bought a new laptop.
The weight of the first purchase made me feel like I had just robbed my bank account for the one tool that was supposed to make me money.
I had a similar conversation with one of our clients recently. He has a very successful landscaping business and even after ten successful years and a fleet of heavy equipment, he still remembers buying his first leaf blower.
Pulling out his card to buy the blower was like getting a tooth pulled!
You see, I don’t feel like its a money problem, it’s a mindset problem.
Saying that you’re going to start a business is one thing. It’s like when you’re a kid and you want to be Batman. Sure, most would love to work for themselves and it does seem like a “cool” thing to say that you’re an entrepreneur (if you can pronounce it right). The difference is that when you start to take ACTION, you start moving towards your dream. This is when you go and get the Batman suit and start kicking the snot out of the bad guys.
So where does the making money part come into play?
It’s really just simple math.
New business with the core foundations
Product service that has a value
= Results…New customers ($$$)
Once you have proven that….now multiply those results!
Results X Reach= Mo’ Money
The reach (or multiplier) can be from various initiatives. Referral based marketing is how 90% of our clients have grown their businesses before they come to us. They feel like it’s the safest until they realize that it is also the SLOWEST.
Let’s go back to that math problem.
Say your monthly revenue is $10,000/month and it took you 5 years to get there.
You could spend another 5 years to double that with the referral based marketing.
Or what if you could spend $2500/month and get to $20,000/month in only 1 year?
We have a client that came to us last year with a tree service business that was just over a year old and was barely making $4,000/month. After partnering with us for 6 months, he was making an average of $15-20k/month and is still continuing to grow not only his bank account but also his team.
$50,000 Prior year annual income 2018
$12,000 Investment with Elk Media (6 month timeframe)
$180,000 Projected annual income for 2019
This client changed his mindset to make more money…and make it a whole lot FASTER than if he was referral based only.
Sometimes it’s best when we get out of our own way to see what we really are meant to become.