We all dream of earning more money and we have so many people telling us how.
It took me months of research, I spent a lot of time on the internet looking up brands and reading success stories. I figured how to make my freelance brand at the age of 18. I just did not have the right willpower to do so at that specific moment. Anyways, we all build brands from scratch trying to make the best out of them but we do not know the tea behind all of it.
1. A 6 figure business is not built overnight. It takes a while and it takes a lot of work and dedication. It is a heartbreaking journey that is always under construction but the results make it worth it. You can build a 6 figure brand in a year, yes but not everyone can, especially if you have just launched your brand. Give it time.
2. A 6 figure business has a lot of expenses that nobody ever talks about. Yay great, you made $800,000 in sales but what is your profit after all the expenses are taken care of?
i. Web hosting fees (sites like Shopify charge you monthly/annual hosting fees and transaction fees on top of that they take a % of your sales too AND their charges are also high as well... I speak from personal experience, most of the add-on apps also come with a fee, it is a great platform but just not for small businesses.
ii. App and Software Fees.
iii. Advertisement fees.
iv. Transaction fees.
v. Running costs.
3. It is a lot of work. No one is going to tell you how they fully do it but you should know that it is a lot of work. I have a small team and basically, I do most of the work myself, I barely sleep and I always have pending work. Keep that in mind. It is what my books keep trying to tell you. It is not as easy as you think which is why you are highly advised to have a workbook/planner. the more you plan/work, the easier it is for you to achieve your goals.
4. The 6 figure dream is not earned alone. A lot of people are not working alone. I work with my husband and three of my PAs (part-time). You are not going to do it all alone. You need a reliable support system.
5. It is a gamble. It doesn't always work out and you have to make sure you are not giving up and you gamble smartly. You are betting on yourself and one wrong move might cost you. Work on moving smart, not fast.
Working towards your goals shouldn't mean you have to rush them. Good things take time and you have to properly prepare yourself for this role. If you are interested, grab a few books that will help you get sorted this 2021.