Are you looking to increase your profits and scale your business past the six-figure mark? While there are many factors that can contribute to business success, there are three core things you must have in place to achieve your goals. In this post, we’ll explore what these three things are and how you can implement them in your business.

But before we take a deep dive into the Three Core Things that you need to scale your business to six figures, let me tell you a little secret first!

After working with countless clients, I can tell you with zero doubt that these principles are essential to achieving success. And, even if you dismiss my results and those of my clients, you’d be hard-pressed to find any successful Life Coach, Online Service Provider, or Business Coach who doesn’t have these three things in place.

So, what are these three essential elements? They are commitment, clarity, and confidence.

Let’s start with commitment. This might sound superficial, but you have to be absolutely, 100% committed to doing what it takes right now to reach your profit goals so you can scale past 6 figures. This means taking action and not quitting too easily along the way at the first sign of friction. Unfortunately, 90% of people simply don’t take action or quit too easily. They “say” they want it, they claim they’re serious, and they talk about their “big plans,” but only a small fraction of people have the commitment to actually make it happen and see things through.

Next up is clarity. Even committed and ultra-driven Business Coaches and Life Coaches need clarity to achieve results. You need a roadmap, recipe, game plan, or blueprint to follow. You have to follow a proven and easy-to-follow plan if you want to get from “Point A” (poor profit) to “Point B” (crushing your profit goals!). Unfortunately, many people fail because they spend hours, days, weeks, months, and even years searching, clicking, consuming content, buying every course, reading every blog, and listening to every podcast. The problem is the lack of a clear path. Time is our most precious asset, and every moment you invest toward realizing your profit goals should be spent making progress, knowing exactly what you should be doing next, and exactly how to do it!

Finally, there’s confidence. This is where the rubber meets the road! The third essential element that virtually everyone must have in place to rapidly increase their profit and ultimately scale past 6 figures is confidence. Not confidence in yourself necessarily, but 100% confidence in the fact that you are getting the support from a trusted expert who has the experience and leadership skills to provide you with a membership, to help you get “unstuck,” and keep you moving forward until you achieve your goals. And, you will get stuck! You can have all the commitment and motivation in the world, a super clear path/roadmap to follow, but you also need complete confidence in who you choose to work with along the way.

Now, when you’re all squared away on the first part, let’s get to the meat!

Whether you’re just starting out with your online business, or have been doing it for a while, I can tell you that these three core things should never be missed if you want to scale past 6 figures. 

1. A Clear Understanding of Your Target Market

The first thing you must have in place is a clear understanding of your target market. Who are your ideal customers, and what are their needs and pain points? Without a solid understanding of your target market, you’ll struggle to create effective marketing campaigns, develop products and services that meet their needs, and build strong relationships with them.

To gain a better understanding of your target market, start by conducting market research. This could include surveys, focus groups, or analyzing online data. Look for patterns and trends in your research to identify key insights about your target market. Once you have a clear understanding of your ideal customers, use this information to inform your marketing, product development, and customer service strategies.

Here’s a good read from Indeed on how to conduct market research to help you improve your understanding of your target market.

2. A Solid Sales Funnel

The second thing you must have in place is a solid sales funnel. Your sales funnel is the process that takes a potential customer from being aware of your business to making a purchase. A well-designed sales funnel will help you convert more leads into customers, increase the average value of each sale, and build a loyal customer base.

To create a solid sales funnel, start by mapping out the stages of your customer journey. If you can’t visualize it for your own business, check out this guide that might be able to help. This might include awareness, consideration, decision, and retention. At each stage, identify the key actions you want your customers to take and the messages that will resonate with them. Then, design your marketing campaigns and sales processes to guide your customers through each stage of the funnel.

3. A Focus on Profitability

The third thing you must have in place is a focus on profitability. While revenue is important, it’s not the only metric that matters. To build a sustainable business that can scale past the six-figure mark, you need to focus on profitability.

Start by tracking your key financial metrics, such as revenue, expenses, and profit margins. Look for areas where you can cut costs, such as reducing overhead expenses or negotiating better deals with suppliers. At the same time, look for opportunities to increase revenue, such as raising prices or offering premium products or services. By focusing on profitability, you’ll be able to reinvest in your business, pay yourself a fair salary, and build a strong financial foundation for future growth.

One good example where you can focus on profitability is by streamlining your business processes. As you streamline your business processes, you’ll be able to cut unnecessary expenses in your business as well as invest in tools that can allow you to grow some more. If you need to see how you can streamline and improve your business processes, check out my previous blog post.

In conclusion, to increase your profits and scale your business past the six-figure mark, you need to have a clear understanding of your target market, a solid sales funnel, and a focus on profitability. 

If you want to learn more about how to increase your profit fast, with little to no stress, frustration, or wasted time, you can check out our Content Vault. Our vault can provide you with the tools you need to make progress and succeed. With commitment, clarity, and confidence, you can reach your profit goals and scale past 6 figures.