16 - Bubble Bursting: The Uncomfortable Truths of Hitting $100k & Beyond
I’m ready for you to burst my bubble, Rachel! ...Said no one, ever. Welp, it’s gonna happen (with love, of course) as I share the uncomfortable truths of hitting $100k and beyond on this episode of Payday With Rayray.
“To build a business upon a passion is a crime that will keep biting you in the ass until you have no. ass. left. And let me tell you, it’s not a cute look and it’s not lucrative.”
– Rachel Bell
In this episode, I’m going to share the TRUTH about what it takes to succeed as a coach – and it won’t be what you’re used to hearing. I’ll get into why your passion shouldn’t run your business, why niching down is actually the most freeing thing you could do, and how to reframe your mindset on investing. You’ll hear me call out the coaches with Unicorn Syndrome and the ones who perpetuate limiting beliefs – and although this episode may be bubble-bursting, it’s all out of love so you can get out there, do what you do best, and get that bag, baby!
Here’s a glance at what you’ll learn from me in this episode:
The 5 categories people struggle in when trying to build a business.
Why leading with your passion IS NOT the answer.
Why narrowing down is actually more freeing in business.
C.O.I. = Cost of Inaction. And it’s way more expensive than you think.
How to beat UNICORN SYNDROME.
Why you’re perpetuating your prospect’s limiting beliefs if you do this ONE thing.
What to do to QUIT cockblocking yourself from your true worth.
“When it comes to niching, you gotta pick a horse and you gotta ride it.”
– Suzanne Evans
Show Notes
01:00 – Introducing today’s episode: The truth about what it takes to succeed.
01:50 – Everything changed when I started listening to my mentors.
02:30 – I don’t just share things that have worked for me; I share what I have seen work for many others.
03:00 – OCA is built upon the immutable laws of sales, marketing, and psychology that have been proven; you can get triggered, do nothing, or listen and learn.
04:30 – Information on OCA and my intention with Payday with Rayray.
06:00 – Categories that people frequently struggle in when trying to build a successful and sustainable coaching business: passion, niching, investing, marketing and sales.
07:25 – Passion: Many people focus on what they want to do and what would make them happy forever, but this isn’t the right approach.
09:30 – The fault here is that the business isn’t about you – it’s only about your ideal client and solving their problems constantly.
10:45 – By centering your business around your passion, you’re setting yourself up for failure; don’t ignore your passions but think about what your ideal client needs.
12:38 – Successful entrepreneurs systemize, outsource delegate, and optimize how they contribute so they don’t have to repeat themselves and can focus on what they enjoy.
13:30 – You business is a job where you make all the decisions; you have to treat it like a deep commitment to you mission for your ideal client.
15:10 – Everything comes with a price: If you want to be passion-centric, you can, but you may get sick of starting over every few months or years.
17:15 – When you deeply commit to your ideal client avatar, you’ll experience more impact and abundance.
18:00 – Passion is an “uncontrolled emotion”; if you build your business on that, your results will be uncontrollable.
19:30 – You’ll never stop solving problems as an entrepreneur, so get used to it and enjoy more strength, power, and ease as a result!
21:05 – You will face yourself through business; question how you are being in the face of discomfort.
26:30 – People fear being restricted by a niche, but its actually deeply freeing and rewarding to commit.
28:15 – If you try to attract everyone, you’ll attract no one – focus your business on what you do best, not what you like doing best, because that will change.
30:50 – Unicorn Syndrome: People think they’re the “unicorn” - but the problem is that they are focused on themselves – and that’s why they’re confused and lost.
31:45 – Your ROI isn’t going to come immediately – and it won’t come if you aren’t truly invested in your business – so focus on the COI, the cost of inaction.
34:10 – The cost of inaction is always far greater than what you would spend on a coach.
36:00 – Stop telling yourself you can’t unless you want to live your same reality.
38:15 – On ROI: Remember that this is a long-term game and your action is progress, even if it isn’t paying off yet.
39:45 – Things are either an amazing investment or an amazing story and lesson – nothing is guaranteed but look at track records and results.
41:40 – On marketing and sales: You need to communicate your value – don’t cockblock yourself from clients and your true worth.
44:05 – You can be the best coach but not get clients. You need to be good at sales and marketing to get in front of people in the first place and get their permission to help.
45:40 – As a coach, you need to believe in your clients and their ability to do what they want – don’t perpetuate their narrative that they can’t do/afford/be/etc.
47:00 – Anyone can invest in whatever they truly want in life – if they don’t, it’s because they don’t want to.
49:15 – Don’t buy the narrative that your client can’t get what they want and change their reality.
50:05 – When people join OCA, they don’t have the money but they have the resourcefulness to make it happen.
51:00 – Be the kind of client you want to attract and walk the talk – invest in personal development, time, self-care if you aren’t.
“When anything is confusing in business, it’s because you’re focused on yourself.”
– Rachel Bell
Exercise
Can you relate to any of the 5 categories I mentioned? What are you going to do about it?
