5 steps to Creating a 6-7 Figure Business as a Solo-Preneur

Most people don’t go through all the sweat and pain of creating a new business to earn minimum wage. So if you have a dream of earning a living from your own business, what’s preventing you from not only having a BIG dream, but of actually achieving that dream?

For most, it’s simply a lack of a game plan. I’m going to share 5 steps to creating a 6-7 figure business as a solo-preneur that have worked for me as well as MANY of my colleagues even in the current economy.

1) Identify your ideal income

It’s not enough to say, “I want to make a good living with my business.” There’s absolutely no conviction or power behind those words. While I know it can be scary at times, you need to write down exactly what you WANT to bring in to your business. Be as specific as possible and be sure to stretch yourself. If you feel uncomfortable writing the number down then you’re on the right track.

2) Identify your “million dollar niche”

Who are they and where do they hang out? Sit down with a piece of paper and describe, in detail, who your ideal client is. What does she read? Does he like coffee or tea? Is she a cat person or a dog person? The more specific that you can get the easier it is to reach and identify with your ideal market.

3) Become fluent in your niche’s language and identify “Hot Emotional Triggers”

Learn exactly what makes your market tick. What are their greatest wants, needs and desires? What are they talking about? Don’t know? Ask them. Send out surveys to your list or get involved in discussion groups. This is why it’s so important to first identify WHO your market is. Often times, your ideal client is “YOU” about a year or two ago. What have you learned that you wish you knew then? What would it be worth to have had this knowledge sooner rather than later? If you don’t know step number 2 then you’ll have a long, uphill battle trying to hit a solid 5 yet alone 6-7 figures with your business.

4) Become the “Go-To” person in your niche

This is actually much easier than you might expect. Remember those “Hot Emotional Triggers?” Learn to effectively satisfy your market’s greatest wants, needs and desires in your own unique and genuine way and you’ll soon position yourself as the “Go-To” person in your niche.

5) Create programs and products with a beginning, middle, end and intended results

Give your market something that they can sink their teeth into. What can a client expect after working with you or buying your products? Remember, your clients are paying for results; plain and simple, so tell them what they can expect. The solo-preneurs who become adept at describing the intended results of their products and services as they relate to the wants, needs and desires of their marketplace are going to reap the greatest rewards and improve their client and customer satisfaction. This is a great way to attach investment to results rather than time spent in fulfillment.

Homework:

Take 5 minutes and write down your ideal income. Write big and bold and keep it where you can see it.

Take the next couple of days to work on steps 2 and 3. Once you’ve completed these first 3 steps the rest will begin to fall into place. Keep your eyes and ears open and listen to what your market wants. Remember to create solutions for those wants and desires in a unique and genuine way. Do this and you’ll have a successful business for a very long time.

Cheers and Success

Tom Buford