Latest / Online Business Uncovered: Simple Strategies for Female Entrepreneurs / 1: How to create freedom in your business

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1: How to create freedom in your business · Online Business Uncovered: Simple Strategies for Female Entrepreneurs

• 0:00
  SPEAKER_00: Hello and welcome to the Digitally She Does It podcast.
• 0:04
  SPEAKER_00: In this very first episode, I'm going to be talking about how to create freedom in your business.
• 0:10
  SPEAKER_00: Let's get started.
• 0:19
  SPEAKER_00: Welcome to the Digitally She Does It Show.
• 0:22
  SPEAKER_00: I'm your host Karen and I'm here to lift the lid on what it actually takes to create a successful business.
• 0:29
  SPEAKER_00: If you are an ambitious creative ready to build a business on your own terms and without compromise, then this podcast is perfect for you.
• 0:37
  SPEAKER_00: With my award-winning approach to marketing and expert knowledge in creating online courses, this show will leave you feeling inspired, energized, and ready to bring those big dreams to life.
• 0:47
  SPEAKER_00: Join me each week for a dose of motivation and marketing know-how, along with actionable step-by-step strategies to help you accelerate your business's growth.
• 0:56
  SPEAKER_00: So let's dive in and don't forget to subscribe to all my upcoming episodes, which drop every Wednesday.
• 1:06
  SPEAKER_00: Hello and welcome to today's episode.
• 1:09
  SPEAKER_00: Today I'm going to be talking about how to create freedom in your business.
• 1:14
  SPEAKER_00: Now, if you are anything like me, you would have started your business because you would have been craving freedom of some kind, whether that's time freedom, financial freedom, or perhaps you just want to be autonomous in what you do and the service that you provide your clients.
• 1:32
  SPEAKER_00: So, with that in mind, I'm going to be talking about how to create more freedom in your business so you can continue to create the life that you desire.
• 1:43
  SPEAKER_00: So let me start by asking you a question.
• 1:47
  SPEAKER_00: What would it mean to you to have more time in your business?
• 1:51
  SPEAKER_00: And I don't mean more time to do work, I mean more free time so that you can use it to do whatever it is that brings you joy.
• 1:59
  SPEAKER_00: Now, would you spend more time being creative?
• 2:02
  SPEAKER_00: Or perhaps you would go for a longer walk in the morning, enjoy an extended lunch, or maybe you would just reduce down your working week.
• 2:10
  SPEAKER_00: So instead of working five days, you're working three days instead.
• 2:14
  SPEAKER_00: Now, this is all possible because anything in life is possible, but of course it does need to be planned for and intentions need to be set.
• 2:24
  SPEAKER_00: And I think one of the great things about being an entrepreneur is that we can build our businesses to support the life that we ultimately desire.
• 2:33
  SPEAKER_00: Our businesses should be working for us rather than the other way around.
• 2:37
  SPEAKER_00: Although I'm sure you'll agree when I say that it's not always that easy.
• 2:43
  SPEAKER_00: It's so easy to get caught up in the weeds of the business, focusing on the day-to-day details rather than spending the time planning and mapping out where you want your business to go.
• 2:53
  SPEAKER_00: And something I've learned in business over the past six years or so is that anything really is possible because as entrepreneurs, we do have limitless possibilities available to us and we do have the power to create our future, but we do need to be intentional with the action that we take.
• 3:12
  SPEAKER_00: And I think that's really powerful.
• 3:14
  SPEAKER_00: I think being an entrepreneur and having that power at our fingertips is amazing, but we just need to know really how to control that and kind of sort of steer ourselves in a way that kind of takes us to where we ultimately want to get to.
• 3:30
  SPEAKER_00: I really do believe that our businesses are the vehicle that can take us anywhere we want to go, but we do, of course, need to know where that end destination is.
• 3:40
  SPEAKER_00: And if you are serious about creating a business that works for you, then part of that is about understanding where the end goal is and what you're looking to achieve, and of course, how your business can support you in the best possible way.
• 3:55
  SPEAKER_00: I know my first few years in business I was just trying to stay afloat, which I do think is pretty normal, and I spent a large proportion of my time just trying to work out the whole aspect of business and what that meant and what I needed to do just to kind of keep the lights on.
• 4:12
  SPEAKER_00: And today my goals are very different.
• 4:15
  SPEAKER_00: But what I do think is that it doesn't matter what stage of the business you're at, there's always going to be challenges.
• 4:22
  SPEAKER_00: I just think that your focus evolves over time.
• 4:26
  SPEAKER_00: So instead of now trying to survive in my business, now I'm in a place where I'm looking at scaling and bringing that vision that I have to life because that's what I've been working towards in the time I've been within my own business.
• 4:42
  SPEAKER_00: So if you are currently in a position where you're selling one-to-one services, then I'm gonna hazard a guess that you're most likely caught up in the cycle of trading your time for money.
• 4:54
  SPEAKER_00: Now, this is so common, and it is something that so many entrepreneurs get caught up in.
• 5:01
  SPEAKER_00: And I must admit, the first few years of my business, it was very much me.
• 5:05
  SPEAKER_00: It was a case of having to find that steady stream of clients just to keep the lights on.
• 5:12
  SPEAKER_00: So you'd be working on one client and then sort of really conscious that you'd need to find another client because obviously trying to keep that pipeline going.
• 5:21
  SPEAKER_00: But the problem with that is that you spend so much of your time either in the weeds of your business doing the do, or you're spending time just constantly trying to find clients to keep your business afloat, and it's exhausting.
• 5:36
  SPEAKER_00: And unless you're fortunate enough that you've started a business with a steady stream of clients coming through the door without you having to do much work, then you can spend a huge amount of time just trying to find those clients to pay your bills.
• 5:53
  SPEAKER_00: And you know, in my early years, this is what I did.
• 5:55
  SPEAKER_00: I spent so much of my time either networking to find the clients or doing the work to keep the clients happy, and I wasn't really spending the time developing the business as such.
• 6:08
  SPEAKER_00: And what I did realize there was a moment where I did think, oh, I haven't really done much in my business because I'm too busy focusing on the vision of my clients and what they're looking to achieve, which is great, you know.
• 6:21
  SPEAKER_00: It means that I'm supporting my clients and I'm fulfilling their needs, but at the same time, I wasn't really moving my own business forward, and so I think that what tends to happen is your vision can then get lost because you're putting your focus somewhere else.
• 6:36
  SPEAKER_00: And as I got busier in my business, I was being pulled in every which direction, so I didn't have the time, I was so time poor.
• 6:46
  SPEAKER_00: The last thing I wanted to do at the end of the day is spend time working out where my business was going.
• 6:52
  SPEAKER_00: I wanted to be at home with the kids and taking time out because I was so busy in my business, and I think this is something that is just so common when you're starting out because there are so many sort of rabbit holes to go down before you realise that there's other ways of doing it.
• 7:11
  SPEAKER_00: And also, what I realised as well that I'd left an employed position, but I'd replaced one employer with multiple employers because every client had a need that I was having to support, and so I was being pulled in so many different directions that I was having to be available to so many more people rather than that one employer that I'd originally sort of worked for.
• 7:38
  SPEAKER_00: Now, of course, it's only normal that we do tell ourselves that as our businesses get busy and we get to that place of full capacity, that we're doing really well and that's exactly how we want our businesses to be.
• 7:50
  SPEAKER_00: And of course, finding clients and being in that position where you are a full capacity, if that's where you are, then absolutely well done to you because that is not an easy place to get to.
• 8:02
  SPEAKER_00: However, the truth is that if you are a service provider, you are at the mercy of your clients because ultimately you need them and their money to support you to keep your business going.
• 8:15
  SPEAKER_00: When I was in the weed solely focusing on my clients, it really wasn't something I'd considered.
• 8:21
  SPEAKER_00: And it was only in the early pandemic that I realized that I was so reliant on my clients paying their invoices on time that when obviously things outside of my control happened, I was on shaky ground because the first thing to be put on hold are marketing projects, and so that put me in a very vulnerable position because I was so reliant on my clients having to, you know, keep projects going, and it's a really scary place to be.
• 8:53
  SPEAKER_00: And I know for me that was something that really stayed with me.
• 8:57
  SPEAKER_00: I didn't want my business being so vulnerable, and I wanted to build out ways that I could make it more robust so that God forbid anything happened again.
• 9:10
  SPEAKER_00: There are other ways of making revenue, but I've got other revenue streams coming into the business as well.
• 9:16
  SPEAKER_00: I think looking back, I think so many people were affected in that time, and it just took us all by surprise, and so obviously, we didn't have that time to sort of make adjustments until we were in the thick of the pandemic, and it was a very, very difficult period for many, many small businesses and may still be if you're in that place of still being affected.
• 9:45
  SPEAKER_00: But what I do realize is that when you are so in the weeds of your business, just trying to keep everything going, you're not giving yourself that time to build a solid business.
• 9:57
  SPEAKER_00: You need to lay these foundations down so you can build on them and keep your business in a more robust position so that you can have options available to you when things happen that are outside your control.
• 10:14
  SPEAKER_00: And being able to sit back and take stock and then being able to implement significant changes for me was a real game changer through the pandemic.
• 10:24
  SPEAKER_00: And I think now looking back, it was more of a blessing at that time to be given the time because for me, I was able to make adjustments and you know take my business more online, so it's a very real situation being confronted with circumstances that happen that just sit outside of your control.
• 10:44
  SPEAKER_00: And then as a solopreneur or not entrepreneur, where you are so reliant on your customers, it's understanding that whilst it's great to have those customers, it can be quite tricky as well if you are looking to scale.
• 11:02
  SPEAKER_00: So, unless you're fortunate enough to have a really big team of loyal employees around you that can step into your shoes during a period of absence.
• 11:11
  SPEAKER_00: So if you were to go down with an illness or something that stopped you being at the helm of your business, then there are going to be rocky times ahead because ultimately the business is on your shoulders.
• 11:25
  SPEAKER_00: The truth is though, that we cannot create, nurture, and grow a business all on our own, it's just too much.
• 11:33
  SPEAKER_00: And so if you are relying on your clients to keep the lights on in your business, then it can be really difficult when things do happen that sit outside of our control because it puts you in that vulnerable state.
• 11:47
  SPEAKER_00: And I feel like now we're in this post-COVID time, it's a really smart move to start thinking about how you can strengthen your business model and make the necessary changes now to support your business as you move forward.
• 12:02
  SPEAKER_00: And I think it's really important that we find a way to create a more robust business that can survive when we are not in the driving seat.
• 12:12
  SPEAKER_00: Because I do feel like if the pandemic has taught us anything, it is that anything can happen.
• 12:18
  SPEAKER_00: Because nobody expected a virus to sweep in and take over the entire world, and yet the unthinkable did happen.
• 12:26
  SPEAKER_00: And I do feel that this is evidence enough that we must start thinking differently about how we go about running our businesses.
• 12:34
  SPEAKER_00: Now, I'm not saying that you must stop doing what you're doing and change everything in your business, I'm not saying that at all, and I wouldn't want you to change what's working for you.
• 12:45
  SPEAKER_00: I guess what I want to encourage you is to think about how you can strengthen your business model.
• 12:53
  SPEAKER_00: So, how can you make your business more adaptable to things that may happen?
• 13:00
  SPEAKER_00: How can you operate online if you are not online and you don't have anything that you sell online?
• 13:07
  SPEAKER_00: How can you change that and create an online or digital arm to your business that gives you that option should you need to?
• 13:18
  SPEAKER_00: An area that I focused on was creating digital products that I could sell online because I believe that I could generate revenue just by sharing my own knowledge.
• 13:29
  SPEAKER_00: So I started looking at digital products and how I could leverage my knowledge and my expertise to support others whilst also generating revenue for my business, and it's been a game changer.
• 13:44
  SPEAKER_00: So, one of the things to consider if you do find yourself in this situation where you are only generating revenue through one-to-one services is what can you do to build out another revenue stream for your business.
• 14:00
  SPEAKER_00: I think when you see things or when you see adverts on Facebook or on Instagram where people are claiming to earn a million dollars because they've just done one thing.
• 14:13
  SPEAKER_00: Actually, now I guess I'm a bit more cynical now because although anything is possible, and I really do believe that, often what will happen is those figures are being achieved because of the multiple ways in which they're generating that revenue.
• 14:30
  SPEAKER_00: So, yes, they may have an online course, but I bet they are generating revenue through maybe being an affiliate for other course providers or other experts in their area that they have partnerships with, or maybe they're just generating a revenue by being an affiliate for the tools that they use.
• 14:51
  SPEAKER_00: It might be that they're selling a membership or they're selling other digital products to sit alongside their digital courses.
• 14:58
  SPEAKER_00: So getting to that million-dollar place will often be because of other decisions that they've made along the way.
• 15:07
  SPEAKER_00: So I really don't believe in kind of sort of sitting here and saying, oh, you can make a million dollars through one digital course.
• 15:14
  SPEAKER_00: I'm not going to say that at all, even though anything is possible.
• 15:18
  SPEAKER_00: But what I would do is say to you that if you are in a situation where you are only selling your one-to-one service, so you are in that time-for-money exchange, think about other things that you could be doing to just start building out your revenue streams.
• 15:35
  SPEAKER_00: And online courses are great because they can help you scale your business.
• 15:40
  SPEAKER_00: But digital courses aside, perhaps there's an opportunity for you to become an affiliate for the tools that you use so that you can sort of generate revenue just simply by recommending tools that support your business.
• 15:54
  SPEAKER_00: There are many, many ways to build out revenue streams, and especially online, there are so many opportunities available to us.
• 16:06
  SPEAKER_00: Now, I always try and be realistic with the approach I take because I don't want to spend my time trying to do things and trying to achieve big ambitions when the reality is that in order to get there, other strategies need to be put in place.
• 16:22
  SPEAKER_00: So that's why I would encourage you that if you are thinking about generating, you know, large sums of money in your business, is it realistic for just one idea to work?
• 16:33
  SPEAKER_00: Or would it be better to make the revenue through multiple ideas?
• 16:38
  SPEAKER_00: Because maybe the multiple approach may actually provide you with what you need to achieve your financial goals.
• 16:46
  SPEAKER_00: It's looking at what you want to achieve and then how you're going to get there in the most realistic way possible.
• 16:54
  SPEAKER_00: And creating digital products like online courses, it puts a focus on developing products that can be sold over and over again.
• 17:01
  SPEAKER_00: And that's why I will always champion an online course because you don't need to be at the helm in order to sell it.
• 17:09
  SPEAKER_00: You know, you can sell it on repeat and you can make money whilst you sleep.
• 17:13
  SPEAKER_00: And in my opinion, this approach is a smart move because this is where you can start to create passive revenue to support your business's growth.
• 17:22
  SPEAKER_00: And it also diversifies your offering so that you can expand to support a wider audience, ultimately, so you can create more impact in the world.
• 17:34
  SPEAKER_00: And most importantly, it means that the revenue that you're generating means you're not changing your desk 24-7.
• 17:40
  SPEAKER_00: Because who want who realistically wants to be at their desk day in and day out, um, you know, just working for clients?
• 17:49
  SPEAKER_00: And I know where I'm at in my business journey, that's not something that I want now.
• 17:54
  SPEAKER_00: I want to have time to create things that make a difference to my audience.
• 18:00
  SPEAKER_00: So just think if you facilitate a transformation of any kind, then you can create an online course which you can sell over and over and over again to bring the revenue into your business that you desire.
• 18:14
  SPEAKER_00: And by bringing in this revenue, you're going to ultimately create the freedom in your business because, of course, you're not going to be in that place of exchanging time for money.
• 18:24
  SPEAKER_00: So really do consider what you could do to either create an online course or what you can do simply to generate other revenue streams in your business.
• 18:39
  SPEAKER_00: If you believe in the law of attraction, which I really do, then your thoughts do become reality, and you know that you can manifest whatever you want.
• 18:49
  SPEAKER_00: You have what it takes to create the life that you truly desire.
• 18:54
  SPEAKER_00: And by creating online courses, you can move out of that momentum of having to constantly find new clients just to keep the lights on in your business.
• 19:03
  SPEAKER_00: So I do think there's some real advantages to looking at creating a digital side of your business because it gives you leverage and enables you to ultimately build freedom into your business' model.
• 19:17
  SPEAKER_00: Creating freedom in your business can come from you just by simply sharing what you know and your expertise.
• 19:28
  SPEAKER_00: Now, maybe the next step for you is to consider how your business may be in the next few years and to put some real goals in place of what you want to achieve, and then working out the plan and the steps in order to get there.
• 19:45
  SPEAKER_00: Because I think one thing is certain, it's going to be a very different world in which we're going to operate in going forward, and the digital world is going to be more present in our lives, and we are going to have to adapt to this because this is where our businesses are going to be going.
• 20:05
  SPEAKER_00: It's going to be very different to how it was two years ago, three years ago, five years ago.
• 20:11
  SPEAKER_00: But it is up to us to ensure that our businesses stay the course and that we evolve with the times.
• 20:18
  SPEAKER_00: So using your skills and your knowledge to teach others and to create impact whilst making money on repeat, I think needs to really be in the future of your business.
• 20:31
  SPEAKER_00: So if you do want to create more freedom in your business, then consider how you can take your business online and leverage your skills and expertise to ultimately make the money that you deserve.
• 20:44
  SPEAKER_00: Thank you so much for taking the time to listen to today's episode.
• 20:48
  SPEAKER_00: I hope you found this episode of value.
• 20:50
  SPEAKER_00: And of course, please feel free to share it with anyone else you think will benefit from listening to today's episode.
• 20:58
  SPEAKER_00: If you are feeling inspired and would like to know more about getting involved with creating an online course, then why not download my free ebook, 10 Steps to Digital Course Success, by visiting my website www.caren davies.com.
• 21:16
  SPEAKER_00: I will be back next week with another episode, but until then, enjoy the rest of your week.
• 21:27
  SPEAKER_00: I hope you enjoyed this episode of the Digitally She Does It Show.
• 21:31
  SPEAKER_00: Don't forget to check out the show notes for all the links and resources mentioned in today's episode.
• 21:36
  SPEAKER_00: New episodes drop every week on a Wednesday.
• 21:38
  SPEAKER_00: So why not rate and subscribe so you never miss an episode?
• 21:42
  SPEAKER_00: Thank you for tuning in today, and I will see you next time.