How to Start Making Then TAKING 6 Figures

How to Start Making Then TAKING 6 Figures

In this episode, I'm going to share with you the steps you need to take in order to make six figures and then bring that money home. As I mentioned, this is a big claim, but one that many gurus make. I can back it up with the actual steps necessary for success.

Highlights of this episode:

  • How to start making and then taking six figures.
  • Why you need to figure out what your business stands for.
  • A strategic plan helps keep you on the course, and alerts you of potential pitfalls.
  • How do you know if you’re ready to take your business to six figures?
  • Building out a robust marketing plan.

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How to start making and then taking six figures. Welcome to the Financial and Lifestyle Freedom podcast and in this episode I'm going to show you how to start making six figures and then taking it home. And I know that is a big claim and one that you perhaps have heard many gurus make before, but I am going to cover off the actual steps necessary in this episode.

Hey there, my name is Annette Ferguson, and I am a chartered accountant, certified profit first professional, and business growth strategist. 

And I'm going to speak about how to make real money from your small business in this episode today. Most people think that starting a small business is hard. And I'm going to show you that with the right tools and some hard work, you can take your business from nothing to a six figure take home. So stay tuned. 

How to make real money from your small business

1. Figure out what your business stands for, and its values and mission.

If you're serious about taking your small business to the next level, and pocketing six figures in the process, a great place to begin is by understanding what type of business you actually want to run. 

Ask yourself questions like:

  • What values will my business be defined as? 

  • And how do you plan to develop your products and services? 

  •  What kind of impact do you hope to make on the world around you 

  • And what impact you want to make on your family. 

Setting some goals and objectives can be really helpful to provide clarity and direction down the road, positioning your business for ultimate success. So take some serious time to invest in working out what the mission and values of your business actually are.

Whether you're starting out, or whether you are a seasoned business owner because these are the things that keep you on track and help you answer the difficult questions in your business. 

2. Creating a business plan whatever stage of business you are in.

When we talk about making fortunes and taking home six figures, most people will jump to fast cash and try and find ways and quick fixes to earn big but the much less talked about approach is creating a well planned and achievable business plan. No matter what stage of business you are in. A strategic plan helps keep you on course, alerts you of potential pitfalls, helps you with new ideas and marketing and charge you towards hitting that six figure mark. 

It's time to start changing the financial destiny of your business by actually having it completely and utterly planned out. 

And this document should be something that is ever evolving with your business. As time grows and morphs and changes. It is not something that is set in stone lingering on a digital bookshelf collecting virtual dust.

It is something that helps guide your business and your strategy for the long haul. Planning is far too underrated when it comes to business.

3. Understanding the finances.

Whether you're just starting out or an established business, you do need to create a financial plan to support that business plan. And it's imperative that it's actually based on data. 

Starting and running a successful business can take many entrepreneurs years of consistent effort, and being aware of the finances is the first step to giving you a chance to strongly succeed, a financial plan needs to be created from blood reliable data. And this should include pricing and profitability calculations that reflect the true value of your services and offerings.

This is key for deciding how you can make money by taking your small business to the next level. So do make sure that you crunch those numbers. And before you begin to think about how to actually start making and taking home six figures, it is essential to ensure all your products programs, services and offerings are set up for profitability. 

Calculating the exact margins you are comfortable with and making sure that there are no hidden costs that can derail you. This way you'll be able to optimize to hit those six figure dreams faster and more efficiently. It's important to stay organized in the process and make sure you track every pound updates. spreadsheets regularly. And if you're feeling overwhelmed with all the numbers stuff, remember to ask for help. 

And if you are getting value from this episode today, I would love if you want to consider subscribing to the podcast, you can do that in whichever podcast player you happen to be listening to. 

4. Building out a robust marketing plan. 

So many business owners are putting out marketing materials and content without a strategy supporting it, and many more are doing little to no marketing at all. Marketing is the way that people find you and engage with you. And without a full robust marketing strategy that you are able to then implement, review data on and tweak as necessary, you will end up leaving a lot of money on the table. 

5. Keeping the balls in the air.

That means keeping on top of the delivery when you have those clients coming in tracking and following up on leads, reviewing marketing activity weekly to understand what is working and what areas you should do more or less of understanding the financial results and keeping on top of costs to ensure profitability.

Reviewing your business plan to keep your business on track and changing and tweaking the plan where necessary, and regularly reviewing prices to ensure they are still in alignment with the value you're providing and the profit you require.

Keeping all the balls in the air is arguably the hardest part of running a business. But it can also be the most rewarding as well when you get it right. Making sure that you take off each of these things will get you on the path to that six figure take home. But you do need to keep your level of focus up on all these areas to ensure the longevity of your business.

All in all, it is clear that with the right strategies and execution plan, anyone has the potential to take their small business to a six figure take home. The most important thing is to get started and not wait for the perfect moment because one will never come. 

If you're serious about making more money this year, then making sure that you implement these tips in your business is going to be a great start.

Thank you so much for tuning in to the episode today. As I said, please do subscribe in whichever podcast player you happen to be listening to this episode in. And I would be massively grateful if you want to leave us a review as well.

Reviews are the way that other people find us and so they mean a huge amount to the podcast. Thanks again for tuning in. Until next time

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About the Author

Owner of Annette & Co. - Chartered Accountants & Certified Profit First Professionals. Helping online service-based entrepreneurs find clarity in their numbers, increase wealth and have more money in their pockets.

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