You’ve probably heard the quote “what got you here, won’t get you there” before. I personally use it a lot.
What gets you to 6 figures doesn’t get you to 7, and what gets you to 7 doesn’t get you to 7+, in my experience. New levels bring new devils so why—sorry to be so blunt—do some business coaches take the EXACT SAME APPROACH with each and every one of their coaching clients?
The answer to that question’s escaped me for years…
Don’t get me wrong, I’m all for a signature system or process and all, I too have tried, tested and proven MANY methodologies to work…
…but let’s not kid ourselves that one size EVER fits all without a nip here or a tuck there. It doesn’t in Nordstrom (lol) and it DEFINITELY doesn’t in business.
I hand on heart believe that if every business coach tailored their approach as much as I do there’d be MANY more self-made millionaires walking the streets in red-soled high heels. It’s a crying shame that there aren’t, in my opinion…
…which is why I’ve written this blog post that discerns the difference between 6 and 7 figure earners and what kind of coaching support they need. My hope is that it’ll reach the people who need it and through reading, people will have a higher chance of selecting a mentor that’ll set them up for success—of selecting a coach that’ll be an ASSET, not an EXPENSE.
If you’re thinking about investing in mentorship for 2022, this post is a must-read. I’m diving into 3 core areas I’ve found 6 and 7 entrepreneurs to differ in: strategy, execution and mindset.
Okay, so… let’s immerse ourselves, shall we?
When 6 figure business owners come to work with me, they’re usually feeling frazzled. They may be burning the candle at both ends and worried they’re going to burn fully out, and looking for ways to leverage their time better so they can make more progress and see better results. They may be coaching 1:1 and seeking support to create more scalable offers, like switching from 1:1 to 1:many or even to evergreen courses… or they may have started that process but be struggling to hit their sales and revenue targets and need support with marketing to ensure they’re always booked up and sold out.
7 figure business owners tend to have a better handle on their time and their energy—I’m not saying they’re not overworking or underperforming, FYI, (they just usually have their business model and scalable offerings down as well as the support of good systems and a great team and so have the freedom and flexibility of more white space). A 7 figure business owner is usually seeking support with things with network marketing strategies (learning how best to connect and collaborate with other influential people in their industry) and/or PR strategies (understanding how they can be put in front of more people in the media like in newspapers, magazines or on TV). They may want to refine their messaging strategy so that they’re positioned appropriately as a premium provider allowing their high ticket paying clients to easily find them, or even how they can create a more luxe experience for their clients so that they become more highly respected, revered and recognized.
They might want to increase the mass at which they produce content and want my support with thought leadership and authority building, or require advice about how they can land big opportunities like book deals that will help them expand into a brand that’s more mainstream. They might be interested in creating a legacy business that can be sold on to someone at a later date, or in other things that’ll set them up for success in the future like investing in assets that make them money by appreciating in value or paying out dividends.
- In short, when it comes to strategy, 6 figure business owners tend to seek strategy to solve immediate problems before facilitating further growth, whereas 7 figure business owners are very future-focused, and seeking strategies to help them get where they want to be, not just in 3 months, but 5 or 10 years from now.
- Whereas 6 figure business owners are concerned with getting as many clients on their roster and as much money in the bank as possible and are less picky about what that looks like early on, 7 figure business owners care about the growth of their impact and income, but want to make sure they’re scaling in an intentional way that’s aligned with the bigger vision and mission of the business and the desires they want to personally fulfill.
- And whilst 6 figure business owners want to go all in and will likely replace any of the time I help them get back with activity to drive their business forward, 7 figure business owners value their white space to ideate and be creative, and so want dialed-in strategies that will ensure 20% of the business’s activity produces 80% of the bottom line.
Whereas 6 figure coaching is more about ‘treatment’, 7 figure coaching is about ‘management’. Make sense? It’s about carefully considering tweaks and adjustments, vs making massive necessary changes.
If you’re interested in learning more about the strategies I’ve employed in my 7+ figure business recently to raise my profits you may want to read this blog post. In it, I reveal 3 strategies I’ve personally used to boost my bottom line.
Obviously, in the world of business, nothing transpires without action, as my 6 figure coaching clients are all too aware. I’ve shared before that when I was making 6 figures I had 27 1:1 coaching clients on my roster at one time which meant that I had to wake up and go to sleep at stupid o’clock to fit in all the other work that needed to be done around my calls. This is often the case for my 6 figure coaching clients. When they come to work with me I hear that they’re working 40, 60—sometimes 80—hour weeks and wearing their busyness like a badge of honor, like it’s something to be celebrated.
They’re often in the habit of saying yes to everything and everyone in order to impress people and get ahead of the curve, of wanting everything now and being happy to hustle and grind if it means getting gratification more instantly, and because they’re chasing down success at speed are likely to throw in the towel when they don’t get the results right away, claiming that what they’d tried didn’t work.
7 figure business owners, on the other hand, are striving for sustainable success and understand that it builds over time through consistency and momentum, and so they are more likely to say no to anything that doesn’t move the needle in the right direction, commit to less so they can focus only on what matters, and to be able to execute in this more effective way have been automating and delegating for some time.
This brings me to my next point… when it comes to execution, my 6 figure coaching clients usually ask me for help with systems and team. I help them set up processes so that they can replicate my success and repeat their own over and over again, keep consistent, reduce mistakes, complete tasks with more speed and efficiency, remove bottlenecks to reduce time waste, and as a result increase profits/cut costs. I also advise/guide on the kind of support they might need in their business, for example, a VA, an OBM, a customer service rep, a copywriter, or a designer, so they don’t have as much on their plate. Click here to read my blog post entitled ‘The First Steps to Hiring’ if you’re at this stage of business right now.
7 figure business owners still need support in terms of execution, but with a team already in place are likely looking to upgrade to world-class talent—the type of people they won’t have to micromanage or be shadowed by because they have the budget for people more knowledgeable and skilled. The owner of a million-dollar company might want to hire someone to oversee the entirety of their business like a C-level operations officer, for example… they might want a full-time executive assistant who can support them personally as well as professionally… and/or to have board-level experts (like marketing strategists) on retainer to consult with month-on-month.
They also likely see the value of high performance and want to know what they can do to be less busy and more productive—which actions they can take in terms of their health and wellbeing to set themselves up for success.
Make sense? Okay, good—let’s move on to the next v. important point.
Yes, you’ll notice that I’ve already spoken into mindset a little in the previous two sections as well and that’s not because I’m disorganized but—rather—because mindset underlies EVERYTHING and can be what makes or breaks your scaling success. I’ve said it before and I’ll say it again—the secret to success lies between your temples—meaning what you think and how you feel, the beliefs you have about yourself and your business, as well as the fears you have about success, failure and so on… directly determine the results you see in your business. How much you grow really is reliant and dependent on what’s going on upstairs.
Among the many differences I’ve noticed between the mindsets of 6 and 7 figure business owners, these are the few that most stand out.
- 7 figure business owners aren’t about nickel-and-diming
- They’re more confident, and
- They aren’t as worried or fearful as 6 figure business owners
Whereas 6 figure business owners can have a tendency to nickel-and-dime (e.g. get as much money as possible out of their clients—by excessively stacking up charges for minor services—or their team—by stacking up the tasks to get every cent’s worth of their salary), 7 figures often don’t. This is because nickel-and-dime behavior comes from an energy of scarcity and lack, and those that are making a million or more are typically more tapped into an energy of abundance, as is reflected by their revenue/bottom line.
I’ve had many a 6 figure client tell me that they’re confused as to why the law of attraction isn’t working out for them when they’re writing gratitude lists and speaking their wealth and prosperity into existence with affirmations and mantras, for example, and usually, it’s because they’re engaging in nickel-and-dime behaviors like the ones I described above. You see, when you show up in this way (usually unconsciously) you create an energetic mismatch in what you SAY you believe (are talking about) and what you actually believe (are doing). No ritual or routine is going to outweigh actions that confirm your belief that there isn’t and won’t be enough cash.
7 figure clients of course have money mindset work to do (the work never ends), but things aren’t usually as obvious at this level—I have to really prod, poke and probe to get the information out of my client I need. Sometimes their money mindset issues look like being conservative with how much team support they invest in, like cutting corners they don’t necessarily need to because they don’t believe they’ll be able to make enough money to cover their dream business’ operating costs. Or sometimes they invest freely in their business but tighten the purse strings when it comes to personal finance because they don’t see things like cars, shoes or handbags (which depreciate in value) as worthwhile uses of their money. Alternatively, they might not take as much money out of the business as they could because they don’t believe on some level that they deserve the lifestyle they crave. Some 7 figure coaching clients have worthiness issues that present as overspending on themselves or in their business, because they have income caps (of say $100k personal income/$500k business profit) that they are unable to exceed or push past. The worthiness issues I’m speaking into here obviously relate to how sure of and secure in themselves my clients are… which is also an interesting distinction to draw.
Typically, my 7 figure clients are more confident than are my 6 figure clients, in that they believe in themselves and their abilities more. Whilst they may still certainly feel incapable from time to time, or a little hesitant or nervous to put themselves out there in case they aren’t actually as good as they think (hello impostor syndrome!), on the whole, they’re pretty okay. Competence breeds confidence after all, and those making a million or more per annum from their business have plenty of past evidence to suggest they’d do similarly well in the present moment or in the future.
6 figure clients, on the other hand, usually aren’t as experienced or results rich, and therefore don’t have as much data to validate them. As a result, I find myself doing more limiting belief work with my 6 figure clients, to help them see themselves as competent business owners who have all they need—or if they don’t—have the willingness and ability to acquire what they don’t have just yet to bring about the success they desire.
Another thing I see among 6 and 7 figure coaches alike but that differs in terms of type and severity is fear. (I talk about this in more detail in my blog post on how to break through income plateaus in business.) Whereas 6 figure clients’ fears tend to be really obvious and crippling, 7 figure clients’ fears are usually less apparent. My 6 figure clients tend to fear failure and the rejection they feel it’ll result in. These fears can stop them in their tracks completely and prevent them from doing things like showing up and selling their offers. My 7 figure clients can fear these things too but tend to be a little further ahead in the amount of mindset work they’ve done and therefore don’t allow their fears to stop them from taking action. They may need support to lean further in or to push harder, but I’m not meeting my 7 figure clients at level 1 typically.
One of the most common fears I see among my 7 figure clients, actually, is that of success. Some worry that more money will make them disconnect from friends and family who aren’t able to relate to their new lifestyle… others worry that a bigger business will bring with it more responsibility and increased pressure to perform… and some 7 figure business owners I’ve coached in the past have longed and yearned for fame as well as fortune, but have been terrified of being in the spotlight. The thought of being talked about by the press or speaking on stages was really worrisome for them, even though they had visibility down when it came to social media, etc.
If I’m to summarise what 7 figure business owners need compared with 6 figure business owners in terms of mindset, then, I’d say that their blocks and obstacles present more softly and subtly and that they aren’t quite as straightforward—they can take some detangling and straightening out. This doesn’t necessarily mean it takes more time to coach a 7 figure business owner on mindset, FYI, but it does require more care, precision, skill, and a thoroughly trained eye.
Of course, it should go without saying that I don’t like working with 6 figure clients any more than 7 figure clients or vice versa. If that were the case, I’d just serve people at one level and not the other! I highlight these differences for one reason and one reason only: so that people can better understand the kind of work they need to do to scale and make a more informed decision about what sort of mentorship (and mentors) they may require to support them through it.
Speaking of which… there are limited spots left on my Luxe Mastermind, and if you’ve related to anything shared today, I cordially invite you to apply.
In the Luxe Mastermind, clients are supported for 12 months by myself, my husband James—who’s a certified high-performance expert— and the other mastermind members, so that they can reach their next level of success. Clients receive 1:1 coaching from James and me, group coaching too, and we even meet up in person, in exotic locations, to do intensive, immersive, deep-dive retreats.
To be clear—this is for established business owners only who are making at least 6 figures of impact and income and are driven and determined to make much more. James and I invest a lot of energy into this offering (in fact it’s the highest-touch way of working with us!) and so please also note that we are incredibly selective with our cohort to ensure we let only the most perfect fits in.
I look forward to receiving it! If we feel we can support you with your elevation, we’ll be in touch to discuss the next steps (SPOILER ALERT: The Luxe Mastermind is interview-only too so we can be sure we’re only working with people we can offer a transformation. We pride ourselves on getting results.)