June 8, 2021

Leveraging Your Launch Asset

Leveraging Your Launch Asset

If you are struggling to scale your business and hit those revenue goals, you’re in for a treat. I am kicking off a brand new series all about leverage, and how it's going to change the game for your scalability. If you’re ready to take your business from one-hit-wonder to sold-out-stadium, you won’t want to miss this series.


If you are struggling to scale your business and hit those revenue goals, you’re in for a treat. I am kicking off a brand new series all about leverage, and how it's going to change the game for your scalability. If you’re ready to take your business from one-hit-wonder to sold-out-stadium, you won’t want to miss this series.

BY THE TIME YOU FINISH LISTENING, YOU’LL DISCOVER:

  • Why trading your time for money is killing your business.
  • How a rental car is the key to scaling your offer.
  • The compromise between serving your students and serving yourself.
  • Why pickiness is the key to success in your business. 

 

When you finish listening, I'd love to hear what you think! Take a screenshot of you listening on your device, share it to your Instagram stories and tag me, @jess.oconnell_ ! Or join us in the Facebook group to share your takeaways! 

 

Or slide into my DMs, I’d love to hear what your biggest takeaways are! 

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Transcript

0:00  

If you are struggling to scale your business and hit those revenue goals, keep listening. I am kicking off a brand new series all about leverage, and how it's going to change the game for your scalability. Stay tuned. I'm Jess. After launching dozens of courses and generating multiple six figures in Revenue Online, I have learned the right and wrong way to launch an online course. And in the last two years, I have helped my friends and clients generate more revenue with less stress using my aligned Launch Formula. On this podcast, I'm sharing with you my simple strategies and systems so you can make more money online and make a bigger impact on the world. Keep listening for the launch fix podcast.

Hey there, and welcome back to the lunch fix podcast. My name is Jess and I am so excited that you are here today. And I cannot wait to break down a brand new three part series all about leverage. Today I'm going to be digging so far into why leverage is the secret to scaling your business. But before we dig into today's episode, I cannot wait to shout out this week's listener of the week. Today I'm shouting out Timmy a with a whole budget numbers after it. Tim he said love this love how Jess is so transparent about what has worked for her and what hasn't so many golden nuggets in each episode. Thank you so much to me, I hope that's your actual name. The iTunes things make name so weird. But I appreciate your review. And I'm so glad that sharing my honest truth and being truly transparent has been valuable for you. Thank you so much for listening. And if you want to be featured as a listener of the week, go to the launch fix podcast comm and click on reviews and leave us a five star rating and review it so that you too can be featured on the podcast. By the way, if you're listening to me, please send me a DM on Instagram, I would love to send you a little token of my appreciation for taking the time out of your day to leave us this awesome review. All right, let's dig into today's episode doo doo doo doo doo doo, boop, leverage is so important in this whole scalability thing. And if you are still trading time for money in your business, you know this to be true. You know right now that the time that you spend working equals the amount of money that you bring in. And this is a really frustrating place to be, especially if you're at this place where you can't really raise your prices, and you have maxed out on the amount of work that you can take. And this is where a lot of people who are in the service provider industry or coaching or even course creators sometimes end up in this because of deliverability you are in this place where you feel kind of stuck by how much money that you can make. And I totally get it because I was there in my business. And that's when I learned this lesson about leverage and about scalability. And so my goal with this three part series is to help you create your leveraged offer. So you can stop struggling to scale because of that, and find the leverage that you need in your business so that you can make more money in less time. So you may be asking what is a leveraged offer? What do you mean by that. And a leveraged offer is something that you build once and you continue to make money off of forever. Here's a weird example. My husband and I rent out our car on an app called Toro, we bought our car, we own this asset. And we make money off of it consistently. Because we rent it out to other people. We're not driving it, we don't need to cars, we work from home. And so we rent it out to other people and they pay us for that privilege. That is a leveraged asset. That is something that I don't have to build that car over and over again, I don't have to buy it again. It doesn't take any time for me besides delivering it to somebody and picking it up to make money. And you can create something like this in your business if you do so intentionally. And that's what I want to teach you how to do today. This is something in your business that does not rely on time for you to make money. And this is a cycle that so many people fall into because the service provider industry is so hot, you really can become an expert at doing something. Tell people that you do it and make money very quickly. There's no shortage of people paying money to get things done that they don't want to do. There are people who are waiting to throw their money at you so they don't have to do things like for example, podcast producing, there was like 1.6 seconds that I did my own podcast production. And I learned very quickly, that listening to my own voice over and over again to edit, it was not my jam. And that's when I hired my podcast producer who is actually here with me today, we are batching. Some episodes, his name is john and glaring at me. And I realized that I would much rather pay him to do this than do it myself. And so the service provider industry is a very fast way to get into business, because it's a quick way to make money. But if you want to scale, and if you want to hit that six figures or hit whatever your revenue goal is, it's a industry that can cap out very quickly. Because john only has so many options, he can raise his prices, or he can take on more clients. And that's really it. If he wants to make more money, either he has to spend more time to do it, or he has to raise his prices. And there's only so much you can raise your prices until you price yourself out of the service industry. And so you really have this cap, either you have to work constantly, which a lot of people fall into, or you have to price yourself out of a job. And that's not a great idea either. And this happens a lot with course creators without them even realizing it. One of the things that I see so many struggling to scale course creators do is deliver their courses live every single time they launched them. And this is tough, because I get it you love teaching live, there's an energy exchange there. And it feels really great to be on zoom teaching to your students. But here's where the struggle is, every time you launch your offer, you have to show up and deliver it live. And that takes time to prepare, it takes time making the slides it takes time sitting on zoom, it takes time uploading it every time. And it creates this time bind that you cannot get out of. And that is not scalable. You cannot recreate your course every single time you launch it, just for the sake of it. And honestly, you probably taught it really well the last time you did it. So there's no reason for you to keep recreating the wheel launch after launch after launch, it just becomes this cycle. That's really hard to get out of once you get into it. And so by taking that in creating a leveraged offer, that is how you can create more scalability in your business. This is something that I did that my mentor James Wedmore really helped me do. In the summer of 2019. I purchased his signature program business by design. And this was the program that really shifted my mindset and shifted the trajectory of my business. And I remember sitting in my office, probably at midnight, because that's when I was working back then watching this program. At that time in my business, I was doing a little bit of everything. I was launching courses every single month, I had to deliver them. every single month, I was taking on random Freelancer jobs like creating Canva ebooks and websites for random people. And it was really an overwhelming time in my business. But I was just doing what I could to make it work to bring in the kind of income that I wanted. But I knew that it was not scalable. I was working late at night after my kids went to bed and my husband would go drive Uber so that I could work. And I was completely burnt out. And it was because I was in this cycle of recreating the wheel every single month. So I remember sitting down on my chair, plugging into this James Wedmore training and feeling incredibly called out one night. He has this video where he talks about like leveraged offers, basically he talks about how one of the biggest mistakes that people make is building multiple bridges to desire Island, starting at one side and half building a bridge, putting in all of this work to get halfway there. And then getting fed up and frustrated that they're not where they want to be yet so they go back and start a new bridge. And I see so many people doing this is exactly what I was doing every single month, I would create a new program, launch it live, deliver it live, get halfway to where I wanted to be, feel exhausted, go back to start, create a new offer, launch it live, deliver it live, hate my life. It was the cycle that I was truly stuck in. And so when I heard that video, it really changed the way that I was running my business. I decided to double down on one offer and stop teaching it live. And that's when I was able to scale. I took the offer. I took a previous launch that I took it through and I made sure that it had all of the things that it needed to get people the result that I want. To get them. And then I launched it again, without any live component. I didn't have calls, I didn't have any live teaching, I offered support in the Facebook group. But time commitment wise, it was very light on me. And I had to commit to the content that I had created. And when I launched this, I, I scaled my launch, I had an even bigger launch than ever before, I had more people buy it, and I was able to really take a step back. And guess what I created that offer in September of 2019. And I still sell it today on evergreen, I have not added any more trainings, I have not changed the trainings, I have not changed the videos, I have not updated the slides. The content that I created almost two years ago is still amazing content. And I still sell it today. And you won't even believe this. But that exact offer that I created two years ago, still makes me about $10,000 a month on evergreen. Talk about leverage, I created an offer one time almost two years ago. And that funnel alone has brought in almost $200,000 into my business in the last two years. That is how you create scalability. I don't do live calls with that group, I still show up in the Facebook group. And I have the opportunity to get that content in front of more people. And it's making an even bigger impact. I know that the transformation that people get from that program is great, because I've had over 600 people go through it in the last two years. And that is when you know that you have a program that really works. But until you put together a scalable offer, and you get out of the cycle of delivering month after month after month, and really tying your time to your income, then you can't see that level of impact. If you really want to help 600 people, how many live calls are you going to have to do to make that happen. And one of the things you're going to have to let go of is what it means to you to show up and teach it live. So many people hold on to the meaning and the validation that it gives them when they teach live. And I totally get it. Because that's what I was holding on to to, it made me feel like a rock star to be on that zoom video and blow people's minds. But guess what the recording does the exact same thing. You can be just as effective of a teacher on a recorded training as you are live, ensure you can offer live components to your programs, you can offer a certain number of calls where you support them. But you don't need to keep recreating the program launch after launch after launch. And if you're a service provider, you can create an offer that even feeds into your service, make that a part of your customer journey, but also have something to work with people who are maybe not ready to work with you yet, or who were looking for something slightly different, who could still be aligned clients for you. And if you're a coach who's currently delivering your signature transformation, one on one, this is something that you can very easily scale. And I totally get it because this was one of the hardest pieces of my business to let go of. And I'll be entirely honest, I do still have a few very few one on one clients that I work with. But it's because I have these scalable offers, I'm able to be really, really picky about who I take on as a client. But as a coach, you feel like you're coaching is the whole enchilada. And it really does feel like that, especially when you are helping people through their things. So you may be thinking, I don't know how to scale my offer, except for to take on more clients. And there's this really beautiful opportunity that can offer a transformation in a unique and new way. And that's with group coaching. It's one of the most underutilized containers for coaching. But it can be one of the most powerful ones. When you're doing one to one you can kind of create codependency in your clients. And it creates this one on one atmosphere where they feel like they need you to get the result that they want. But the beautiful thing about group coaching is that it creates this really sacred container of people who are going through it together, they start to lean on each other and learn from each other and they create a bond within themselves in you guiding the way and serving them and helping them through it. But they take on the ownership of their transformation and they start to serve each other and grow and learn through that experience and By holding so tightly to a one to one model, not only are you completely cutting off your income potential, because there's really only so many one on one clients you can take on. But you're also probably limiting the success of your clients because of it. And I know that your goal is to make a bigger impact, and how can you make the impact that you want to make if you can only help 10 people a month, or whatever that number is to get those results? And so really looking at how can I break this into a group coaching program? And even further than that, how can I create a curriculum that I can then serve to even more people to help them get at least a piece of your signature transformation, from there to at any kind of business that you have, can be scalable. And I think one of the biggest limiting beliefs that people have is like no, no mind can't be. And if you really want to hold tight to the time versus money transfer, you're going to stay stuck in you're going to stay small in your business. And I know that you created your business, or at least I'm pretty sure that you created your business because you wanted to make an impact, you wanted to help more people. And so looking for opportunities to do that, that ultimately serve the thing that you love. Like I'm not saying let go of your one on one clients or let go of your done for you work. But just find other ways to serve even more people. Not only does it serve your bottom line and bring in more scalable revenue, but it also helps you become an even better service provider or coach because you can be really, really picky about who you're taking on as a client. So the next piece of this is taking your signature transformation, or your signature service and turning that into a scalable offer. And that's what I'm going to talk about next week. This is really key because it takes some gymnastics sometimes to take what you do one to one, and turn it into something scalable.

But this is kind of my secret ninja skill. So I'm going to talk all about that next week, and how to take what you do for one person and create an offer that you can sell to many so that you can help more people and create more scalable revenue in your business. So definitely stay tuned next week to hear all about that. Thank you so much for listening, and I will see you on my next episode.