Why Scaling to 7-figures is IMPORTANT (Making $100K isn’t enough)

in today's video we are going to talk about the importance of scaling to seven figures why it needs to be top of mind more so in the beginning of your business and joining me today I have Darius Britt from the wealth Nation YouTube channel hello Marissa thank you very much for inviting me yes absolutely and so if you're excited about this seven figure discussion go ahead and comment seven figures and let's get into it to start I just wanted to bring the discussion of there's a lot of you know business coaches out there and what you see on social media a lot of the times and not that it's wrong I'm not saying that at all but what we see a lot is you know make 100K a Year yay 400k maintain two to three clients a month at 10K a month but I think that at least when I made it past that Mark I realized I'm like wait a minute six figures isn't enough it's important to have a place a starting point but once you go beyond that what's next and what's next is creating systems and taking yourself out of the equation like both of us have started to experience with our business so it's important for you to have that seven figures because not only do you have to maintain your income but it's your responsibility to maintain the livelihood of the people that you have on your team so it adds a different equation to the mix and I think also I just wanted to say like making six figures is a huge accomplishment like that's nothing to be you know downplayed or you know um saying that that's that's not an accomplishment that's huge and that but I just think that uh I maybe you could relate but when I I was at that point I'm like I felt like I was hustling more and I'm hustling a lot and I I thought wow um this business doesn't really feel like freedom and I I know like I I was first like confused on what the heck I was doing I I felt like it was a hustle every single day I felt guilty if I took weekends off like I felt like I had to be working just as much as my team and I I had no clue really how to set up the operational systems the client delivery the sales systems and so this is why you know I feel like the in the beginning the focus should be like well you know I do want to create a six figure but also go beyond to seven figures to to alleviate those those things you know because I was working 40 60 hour work weeks it was insane so yeah yeah I 100 agree set it up for what you want to create um knowing that you're gonna make it there um I think I guess to your point earlier when six figures isn't enough is not enough to set your goal to that because you're going to blow past that and already set that intention for yourself I like the idea yeah definitely um because I think one one thing that is kind of the first to get established I think I don't know how it worked for you but what was the operations and the getting someone to be in charge of your team for you instead of you because I know during that time when I was working like crazy it was me assigning tasks and checking progress of all the projects and I couldn't even work because I was so like where's this project what's this person doing I had no clue really what anyone on my team was working on yeah well the nice thing about it when you start you have to wear all these multiple you have to wear multiple hats in the first place so it's it's more of an action of Delegation and delegating to a space where you feel like you're being used the best because for your business you're the face of it so you have to stay on a platform where people are being introduced to you and delegate the rest of it like your your sales or your operations piece the operations piece is probably the thing that you like the least at least the thing that we like the least so it wasn't a problem for us to Outsource that but then we had to understand that if we're gonna Outsource operations we need to be more focused on our marketing so that we can have enough money to keep the people on operations that we that we have and that I I really enjoy the training piece of it and I was fortunate enough to have my wife Carmen uh be really good at sales so it's it's just a matter of understanding the hats that you weigh that you wear in the beginning aren't the hats that you're always going to wear but make sure you delegate and be okay with whatever happens with the people you delegate it to because they're not going to do as good as you yeah because they're not you and by the way if you are a CEO or founder looking to really take your YouTube channel to the next level because right now maybe your channel is on life support maybe it's struggling I have excellent news for you because this month I have opened up five spots to work personally one-on-one with myself and my team and basically what we promise for you is that we will 5x your lead flow and lead generation from your YouTube channel within the next days or we will work with you until it happens guaranteed okay so if you're interested in that please check out the first link in the description and book a call today on this strategy call we'll basically like peel back the curtain on what exactly we're doing for our existing clients and how we have helped supercharge not only their leads and sales but also their brand awareness and Authority in their Niche now this is definitely for you if you have a refined offer if you have a YouTube channel already where you posted at least 40 videos if you're able to post at least one piece of content per week and if you're finally ready to Outsource that dream YouTube Team behind your channel we will train them we will manage them and let me back up a little bit this is not for you if you do not have a YouTube channel and if you're starting from scratch so if you are a complete beginner in business and you have not started your YouTube channel and you're in that stage where you're still trying to figure it out unfortunately I won't be able to help you and we cannot accept your application but if this does sound like you and if this resonates definitely book a strategy session in the link in the description and be sure to do it right now because those five spots will fill up super fast so I will talk to you soon yeah no I love that you mentioning delegation what's what's the mindset behind delegating and do making that first higher because I think at first we are what happens is you get of your very first VA or um some somebody that comes in and helps with email administrative stuff and you can you want to hire as cheap as possible because the profit margins is is not as not as high like it's you know you gotta you gotta Outsource but I think for me when I made my first hire where it was um an American hire where it was somebody who had had experience like in the corporate world in this country and like it was scary because it was the most expensive and so what's what's like your mindset behind doing that that first hire that really you know that person is smarter and better that you at things and you're like you know you yeah they just really do magical things for your business Carmen and I was uh following the numbers and what they initially were for us is to fill a void that we couldn't fulfill ourselves because we we have a business outside of YouTube that centers centered around life insurance and there were people coming in that we weren't able to physically work with so it was important for US based on the numbers to hire another insurance agent we know insurance agent we we know Insurance because that's what we started with before you two so for us the delegating to somebody else was a lot easier because it's something that even when we do our YouTube videos we're doing in the back of our mind so we delegated the thing that we were probably the best at because it gives us an opportunity to Mentor somebody up to the point where we feel comfortable not at a point to where we're still thinking about what they're doing versus um what we're doing on the front end with the marketing piece so I think for us it was again going back to it it was to fulfill a void that we couldn't handle on our own and it was just following the numbers and with this experience or the conversation going six figures or seven figures is following the numbers and and doing what the numbers tell you to do because a lot of times we get emotionally emotional behind the things that we do behind the things that we want to delegate may not necessarily be the best thing to delegate because will it create income Force by delegating it will it um help us get closer to Growing our income because it's it's important for you to have the right people in the right places so following the numbers it takes out the emotion for me it takes out the emotion and the mindset behind it is is just black and white on a video you guys had um one quote that you said I can't even remember your exact quote but it really stuck with me because uh you know as you talk about Outsourcing or hiring another agent to help fulfill the work and maybe it was something where you're like you know no one can do it as good as us right and you're like how could they ever fulfill as good as we can it's like impossible right but I think you you mentioned like you better make sure now that you put those systems in the you know co-coaches in place before life happens right and we can't and then we have no one to help fulfill the work and we don't have those systems in place um and that that quote you said that that one video was really powerful to me I was like wow that that is say that again right because what you want to do is you want to work on your business not always in your business and by having somebody else there it gives you a little bit of time so that you can focus on those systems and become more efficient efficient because you're not efficient at all doing everything you're never as efficient doing everything and matter of fact those numbers that you see when you hire somebody else it's probably the same thing but the difference is you have more you're able to create more efficiency with how you generate that lead to that person to where the numbers kind of balance out so I think is is again it's really important for you to delegate and be okay with it because you are working on your business at that point instead of in your business yeah yeah exactly um so let's uh maybe talk about pricing because this is something that I recently went through is pricing your products and like um I don't even think we talked on this point before we record this video but the mindset behind charging higher and charging I guess what you're worth for lack of better words there is something you mentioned it was it was another way of saying it but um kind of the fear of of leveling up your pricing this was something that I personally had to change because I had a product or have a product that was in the one to two k Mark um like a hybrid coaching course model but what I realized is because I'm still almost at the seven figure Mark like I haven't crossed it yet but what I realized is like hey um I need a I need a higher ticket product like I need to and I need to feel confident about about selling it because this for a long time for whatever money blocks or things in my life that told me in the back of my head that I wasn't worthy of charging this price point um kept me from doing it for forever like up until recently and so um I think that that also should be an important part of the business model the value ladder is like hey well okay so you have maybe this lower ticket recurring membership or you have a a 1K course or whatever it is but it's like what's your what's your VIP what's your upsell you know yeah I I really agree um you have your done for you you have your you're done with you and then you have you know what the do it on your own and each one has a different uh price point because it's how much you're involved when you think about um building the business it should be more expensive for you to actually put your time into one person when you're looking to work with many people so I think a lot of times what we as entrepreneurs do or it I can say for myself will compare it to what other people are doing not understanding the systems and processes that they have in place to get them to that point or the fact that they won't even be working with the the person itself we need to really look at our value of an hour the value of an hour for us how much is that costing us to be there if we're just going to be one person they should pay for that time because we can always make money we can't always get time back so the most valuable or most precious thing to us is our time and a lot of times we don't charge enough for it and when we do we feel bad about it there's the Imposter syndrome coming on in in that aspect but what we just really have to understand is that time that you're taking they shouldn't also understand that you're taking time away from whatever you're doing to grow your business to work with them and I think we should be okay with that yeah totally and the more you do it the better you'll feel I think that's a great point in transition to the CEO mindset I think that we don't as early entrepreneurs getting started we don't understand what mindset really is because we haven't like lived the things yet that have challenged us to really mold our mindset into you know where we're going that seven figure CEO that eight figure CEO and Beyond right and so what would you say um now that like financially like per Mo what's what's a million a year like was that 70 or 33 uh eight thousand no 83 000 83 83 000 a month yeah this is a million so with 80 83 000 a month that will give you cushion um to set boundaries and I think going into the CEO mindset I think um I had I had looked at but so you guys had a child first before me and David did and I would uh think that you guys were crazy for working so little I'm just like how did they do it I can't fathom working 10 15 hours a week I'm like you guys have to be losing money right because that that was my mindset back then but I think what are like a couple two three things that mindset wise um help you be like this is this is where we want to operate is 10 to 15 and not you know 40 60 per week like what are those what were those shifts for you guys well honestly the the biggest shift was having having a kid and knowing that you have to have the right systems in place in order for the business to operate without you I would say that to be the first and foremost it was fear that got us to taking that first step because we had to leave our our business yeah um and even after leaving our business we had a lot of issues where there was people that wanted to to work with us that we were booked out for the rest of the year and it was in June nice so fixing those those problems and having that experience the next time we were like okay next time we have a kid or go on vacation we're gonna see what happens and then we didn't have the same problems because we fixed it right so I I would say the first thing is just to take risk not taking not not to have a kid step one have a child yeah take risks to see what your business would do without you and don't touch it for a little while to see if your systems are actually working because if Things Fall to Pieces you can always go back and and fix those things because the problems are going to identify themselves for you rather than you trying to anticipate you know working on this working on that let the problems speak to you and work from there another thing I would say would just be to trust trust yourself and trust trust what you're trying to accomplish in the system and the the overall big picture of what you're trying to do and and focus on that because the ideas and the plans that come if your heart's in the right place yeah absolutely no I couldn't I couldn't agree more and I think uh that that is was a huge fear my seventh and eighth month of pregnancy like the fear of of leaving of of you know taking myself out of something where I'd uh put in my My Blood Sweat Equity like all these things and I'm just like I just couldn't fathom like how what would happen and so I know uh about four months before I gave birth to my first son is that's when I hired my operations manager and that was like why I didn't why didn't I do this a way long time ago because like we had you know she started putting our Sops into place our our workflows our system she started doing performance reviews for the team and I'm like what are performance reviews I was like what like this is awesome and so uh yeah kpi is everywhere and it was it just felt like you know it it decreased the fear there was still fear there but um as a result of that we like while I was away on maternity leave which was three months and thanks to you guys yeah literally thanks to Carmen and you guys I was prepared mentally I'm like okay I'm gonna need to take three months off you guys were like three months give yourself I'm like okay okay yeah three months and um when we looked at the P L's when we came back we had profited 30 those three months and I was just like how like there's no way so I think a lot of times we prepare for without thinking that we're doing a good job of it because we Kermit and I what we did is we sold courses the financial advisors we did a bunch of videos to last us at least a month and a half into our pregnancy so we we're prepared for it and then as things happen you can if you need to um spend some cash you have that available because that's what you prepared for yeah so prepare for it prepare for the next step or what you want to accomplish for your business it's not it's not all about um just having time it's also about making the right decisions to give yourself the ability to have that time right so if we look at a uh on the a closed 100K annual salary that's 8 300 and something versus um 83 000 a month coming in in cash flow could you give us a snapshot of of like what you could do with that money well for for me the first thing I would do is make sure my taxes is taken care of um my expenses my overhead would be the copywriter our manager our developer make sure they're good and then the software the software that we use to put on like a online course is an example like your online business tools like your online business tools got it like they they come every year you get a discount by paying up annually or you can pay monthly it costs a little more the 12 I like to save the 12 so the 83 000 will go towards that and your salary so it's it's really it's I keep saying it's really important that Latin is called but I'm thinking back to our business and what allowed us to go from just uh the Carmen and dairy show to uh kind of like a whole production of people there are certain people that you hire for specific projects and it just keeps coming and the the really important thing again the really important thing for us is to make sure that we have those people working on our team or working in our business and not just contractors because with the contractor they're going to charge you for a specific project and you can save money by having somebody on your team full time doing the not just the work for that specific project but other projects that's going to make you become a better uh developer or content creator by having people full time pushing you and making sure let you know it's your responsibility to move this team forward so that 83 000 is it depends on your team it's enough for it for us right now as because we're growing but as we continue to grow it's going to change and it's going to be divvied up into research and development because we have to make sure that we're we don't um have uh risk of having all of our leads coming from YouTube we have to see what blogs are like we have to see what other platforms are like so that we can make sure that if YouTube decides to change something we won't be they're stuck yeah because we've had that happen before so you want to organize yourself so that when something happens you're prepared every business has its roller coaster it goes up Seasons yes so you want to prepare for those Seasons where you're down so that you have that cash on hand being responsible you know out there making it rain in the club and as it goes up you still want to be responsible and make sure that you've handled your responsibility as a business owner to make sure everybody gets paid yeah and speaking of making it rain in the club the event there's a portion of that should that go to Investments every month I think so yeah I think so um because you for for us in our business what we do is we make sure we teach people exactly what we're what we're doing so we have to invest in other things so that we can show that we're proud of the process like you guys we just happen to have a camera showing exactly what we're doing but we're investing in real estate we're investing in the market we're investing in other opportunities that we talk about on our Channel so that we can build multiple streams of of income if you take a look at um successful people like Elon Musk he has multiple things that he's into and he's leveraging his money so the only thing we can do is copy exactly what other successful people are doing and it may not be what we what we're doing today but you still want to work towards it like the six figures the seven figures you want to follow what billionaires are doing right that's just my my two cents right right or whatever that next level is up like that's what you're modeling after kind of as soon as you hit one Milestone after the other right the the funny thing about money is if you focus on money you're going to always focus on money so a portion of the the business that you um really hone in on in your weekly calls or your team meetings is going to be the money it's always going to be there there's never going to be enough it's always more and more and more and more but you also have to have the understanding of why you're doing what you're doing so that it all makes sense because greed is something that um is a part of our ego that happens it's it's easy to be greedy because money is one of those things that's always being printed is always available it's always being created in some um algorithm a data Land from the banks so by us constantly focused on being focused on money we start to lose the reason why we're doing what we're doing in the first place um that's key so that I like there's a difference between focusing on the long-term business goals and vision versus always focusing on money money money exactly money is the byproduct of the value that we're adding to the space love that love that I kind of got off on a tangent because um I was thinking about 83k and to some people 83 000 a month is far-fetched some people that's going to be watching this content yeah so if you just focus on what you're doing and what you're trying to accomplish and the people you're trying to help you're not even you're going to look up and you're going to be making 83 000 right because the the value that you add if it's related to money you're going to get burned out but if it's to serve something that's greater than you you'll never get tired yeah absolutely walking or operating in your your purpose right yeah and which typically for I'd say for most of us is part of that is is service yeah for sure yeah and honestly Carmen and I know me personally I got lost in it I got lost in making the money we're making six figures a month so it's easy to see that and forget where you where you want to go because that got us off on a tangent where or or off our path where we started working with financial advisors versus helping the actual people that we wanted to help yes there's more money there but is there what's the purpose when you guys first crossed uh six figures a month um what were the different pools of money making that up so what made it up is first was our insurance business um where we earned a commission uh the next thing was doing courses for financial advisors trying to teach them how to Market to people's to grow their business so that was another six figures a month no that's it that's it yeah we're doing like a we had a time where we were doing maybe 250 a month that's incredible that's just so exciting all right well I hope you guys learned a thing or two about the importance of really aiming for scaling to seven figures like right right away whether you're just approaching that 100K Mark or whether you're into the multiple six figures um definitely have your eyes set on on that seven figure because you will get there we will all get there and Beyond eight and nine figures so if you enjoy this video you're still here definitely check out this video coming up all about pivoting your Niche on YouTube are you scared of losing Subs views AdSense and the entire audience that you've built on your YouTube channel don't worry you are in the right place because we have been there and done that

As found on YouTube

Get Your Resources Here:

You May Also Like