120: How I Broke All Business Rules And Made More Money

10/07/20 • 17 min

Soul Why? The Secrets Of The Soul Rich Woman Blueprint

120: How I broke All Business Rules And Made More Money

I tend to be one of those people who is a rebel by nature and never an A-star student.

The rules never worked for me, so I tend to create my own rules.

But then I started my own business with literally no idea what I was doing.

I figured the best way was to just figure out my own way.

That’s when everything changed. I learned that sometimes, the traditional rules don’t apply. In today’s episode, I will share some of the business rules I broke, followed by a list of some of the rules I’m giving you full permission to break too!

You must dedicate a lot of time to your new business

03:22- 03:28 Rule number one: You must dedicate a lot of time to your new business.

03:29- 03:37 Four months after starting my business, it was really not easy. I had to budget my time wisely.

03:26- 04:15 I was able to slowly grow my business while living the dream. It was also the perfect way to experiment with different ways of working with my clients before settling into the way that felt right for me. So you really need to set your time aside.

Get as many clients as you can

04:16- 04:46 Rule number two: You must try to get as many clients as you can. This is an indication of how well your business is doing as well as whether the clients are suitable for you or not. I used to hear coaches brag about how many clients they get. I remember one coach told me how many people I was working with, and when I told her 6, she replied with this smug look on her face, telling me that she had 20 clients.

04:47- 05:27 But instead of being jealous, I was actually laughing in my head. How can someone works with 20 one-on-one clients at a time is beyond me? Because I value freedom, I value my time. That's why I'm an entrepreneur. Not only would I never be able to keep track of that many people, I just don’t want to work that hard. Because I want to spend time with my family as well. So I decided early on that I only wanted to work with 4 clients at once. And to make up for the drop in income, I raised my prices a lot.

Get clients who will sign on for the long term

07:03- 07:41 Rule number three: It’s important to get clients who will sign on for the long term. Now, that’s a great goal if you enjoy working with people long-term which sometimes I don’t. I’m totally happy to work with my clients in short bursts like maybe shorts 3 sessions for 5,000 dollars and then send them on their way. But I decided to change my model a little bit, I decided to work only with people for the long term, 12 sessions, or 13 sessions because that’s the energy I can sustain.

Don’t spend all your time messing around on social media

09:04- 09:14 Rule number four: Don’t spend all your time messing around on social media. "Yes, but who are you to tell me how to spend my time, Genecia?"

09:29- 09:33 Yes, I spend a lot of time on social media, and it pays off.

09:56- 10:06 It’s up to you how and when you use social media for your business. If it works for you, it works for you. I don't care what anyone else tells you.

You need to focus on building your list

10:08- 10:32 Rule number five: It’s all in the list, and you need to focus on building your list to a huge number before you can sell anything. When I first started, started with zero. I was never really interested in numbers because I was more interested in giving people value and that was when I was running my cafe retail chain.

12:36- 13:08 Numbers are just fluffed sometimes. If no one is buying from you, you can have the most number of likes on your social media. It is fluff. it is great that you have likes and I think it's a good adrenaline rush every time someone likes your post, but I've seen too many people having likes and shares but nobody is buying their products. So I say ignore your numbers for a while and see what happens in your business.

Key Takeaways:

Try to get as many clients as you can.
Get clients who will sign on for the long term.
Dedicate a lot of time to your new business.
You need to focus on building your list to a huge number.
Don’t spend all your time messing around on social media.

Key Resources:
Subscribe to Genecia’s Youtube channel: https://www.youtube.com/c/SoulRichWoman
Visit SRW’s website: https://www.soulrichwoman.com
Follow Genecia on Instagram : (@Geneciaalluora)
Follow Genecia on Facebook: https://www.facebook.com/geneciaalluora/
Check Genecia’s LinkedIn: https://www.linke...

120: How I broke All Business Rules And Made More Money

I tend to be one of those people who is a rebel by nature and never an A-star student.

The rules never worked for me, so I tend to create my own rules.

But then I started my own business with literally no idea what I was doing.

I figured the best way was to just figure out my own way.

You must dedicate a lot of time to your new business

03:22- 03:28 Rule number one: You must dedicate a lot of time to your new business.

03:29- 03:37 Four months after starting my business, it was really not easy. I had to budget my time wisely.

Get as many clients as you can

Get clients who will sign on for the long term

Don’t spend all your time messing around on social media

09:04- 09:14 Rule number four: Don’t spend all your time messing around on social media. "Yes, but who are you to tell me how to spend my time, Genecia?"

09:29- 09:33 Yes, I spend a lot of time on social media, and it pays off.

09:56- 10:06 It’s up to you how and when you use social media for your business. If it works for you, it works for you. I don't care what anyone else tells you.

You need to focus on building your list

Key Takeaways:

Try to get as many clients as you can.
Get clients who will sign on for the long term.
Dedicate a lot of time to your new business.
You need to focus on building your list to a huge number.
Don’t spend all your time messing around on social media.

Previous Episode

119: 5 Common Mistakes To Avoid When Asking For Support

You are asking for support.

They seem like they should be fairly straightforward, right?

Effectively asking for support involves a little more thought and consideration than simply blurting out the first inquiry that comes to your mind.

Yes, there are a few common traps that many of us fall into when it comes to asking for support. And, these mistakes make it that much harder to get a sponsor.

02:10- 02:57 Picture this. You are creating an event to share your new business offering with the world. You are so excited and want to share your passion with everyone. Awesome! You pick the date, book a venue and you’re all set. This could be a game-changer and lead to amazing opportunities. Your eyes glaze over as you daydream about basing yourself in a beautiful space with a bikini and laptop. And then a light-bulb goes off. What about goodie bags? You start to frantically list businesses to approach, find sponsors. Why wouldn’t they be delighted to support your life-changing event? It makes complete sense. Surely?

02:59- 03:08 Slow down, my dear. Back away from that loaded keyboard. It’s at this dangerous point that deadly mistakes can be made.

Mistake number one

03:09- 03:17 Mistake number one: You’re so focused on what you want to receive rather than what you’re giving. You can hardly wait to get those cute products in your hot hands. So what would make it a no-brainer for them to say yes? Make it easy.

Mistake number two

03:29- 03:58 Mistake number two: Being too vague. Rather than stating “This will be promoted” be specific. Will it be shared to 200,000 databases or just with your mom? Share details of your various platforms and networks. You are in the early days, be honest. Be creative about the ways you can promote. Demonstrate that you have thought about the value you are offering them.

Mistake number three

04:03- 04:24 Mistake number three: Not giving people enough time. No-one likes to feel as though they have been approached as a desperate last resort. Be professional. What would go through your mind if someone approached you only a week before the event? Give as much notice as you possibly can.

Mistake number four

04:24- 05:01 Mistake number four: Using variations of these sentences either on their own or as a compelling combination.

It’s worthwhile to do giveaways on Facebook so I’m giving it a try. I could use some of your products.
This will be good for you.
This is a great opportunity for your business.
Supporting my event will really help you to move to the next level.
This exposure is just what you’ve been waiting for.

Mistake number five

06:24- 06:35 Mistake number five: You don’t know the difference between sponsorship and donation and incorrectly assume that these two words are interchangeable.

06:38- 07:12 Here are some simple definitions. You may be asking for sponsorship when you want a product or service donation. A donation is given with the expectation of receiving nothing in return. It’s often a one-off and could be items that you receive, for example, to use in a fundraiser or a lucky door prize. I received this before. A sponsorship agreement means both parties receive benefits of equal value.

08:12-08:27 Focus on giving tangible, rather than intangible benefits. Is it valuable for them to have their logo on 100 programs if that does not translate into a single sale?

Bonus Mistake

08:33- 09:11 Do not send a follow-up email chasing for a response less than 24 hours after sending the first request. Unless you want to **** off the recipient especially if you are one of those people asking a week before the event date. So the next time you have a brilliant idea and want to enlist support, write the most appealing, irresistible, heart-melting request that you would love to receive.

Key Takeaways:

Being so focused on what you want to receive.
Being too vague.
Not giving people enough time.
Using variations.
The difference between sponsorship and donation.

Free Resource: "Soul Why: Soul Rich Woman Blueprin...

Next Episode

121: When Do Money Blocks Affect Your Business The Most?

“Money blocks.”

When do they come up? I mean, when do they not come up?

That’s the bad news, they will come and come again.

It’s just like getting up and having a shower; you have to do it every day. Otherwise, you start to smell a little bit.

In this episode, let me share with you the money blocks that affect your business the most!

Starting your business?

03:05- 03:24 If you are starting your business, more money blocks will show up. If you’re just getting your business started right now, this is where your money blocks can really push you off the tangent and make you feel like you’ve got a lot of resistance and procrastination. This might be the first time that they have even come up for you and you're not even aware of it.

03:31- 04:10 Most of the time in a job, you don’t get blocked by money. Maybe you’ve never experienced money blocks before. Now, suddenly you are having to set your own prices, you set your own business and someone’s asking you, “Can I get a discount on that?”, “Would you like to barter trade or collaboration for free?”. All these things are happening and it’s all-new for you. The first time you get a refund request, it’s new. The first time you get someone complaining about your course, your product, or your services, have a complaint, that’s new.

Launching something?

05:49- 06:16 Money blocks will come up at critical points in your business, like when you are launching something new. This is when you going to second guess your pricing; you look around and compare everyone’s prices. Are you too expensive? Are you the cheapest? You start to second guess every single part of your business. You start to ask yourself, “Am I worth it? Am I enough? Did I do enough?”

08:33- 08:44 Remember, launching in your business is such an emotional thing and emotions can be heightened. You have to be very careful that you’re not making up stories about yourself during those times.

Hit an income plateau or flatline?

09:26- 10:12 Spoiler alert, it’s because of money blocks. The third most popular time that you might hit your money blocks is when you’ve hit an income flatline. This is when your money blocks are really going to come up because you might start to tell yourself stories. For example, “This is the most amount of money I’ve ever been able to make in your life and any success I’ve had so far has been a joke." These money blocks are real. If you don't deal with it, your negative self-talk is going to destruct whatever you've built. Then you can’t quit and you can’t give up because you already built a business.

Got a big money goal?

10:39- 10:55 Got a big money goal? Money blocks will also find you. Now, the last time that you’re probably going to hit your money blocks is when you’ve set a new big hairy audacious goal like six figures business or seven figures business. Something that is really symbolic to you.

11:39- 11:57 When you have the tools and you will be able to recognize your money blocks faster because you will be able to recognize your own self-sabotage and move through it as well. And you’ll have the armor and the fortitude to keep on going no matter what, until the next one.

Once you know it, you can clear it.

12:30- 12:31 Once you know it, you can clear it.

12:38- 12:48 So, the next time it comes up, you’ll be able to recognize it and throw it away much faster so that you can move on and create that F-Word life that you want.

Key Takeaways: