Pulling Yourself Out Of A Slump

This episode is inspired by a listener question that I’ve been hearing a lot lately: how can you pull yourself out of a slump? And does a prolonged slump mean you’re not cut out to be a Soloist?

The gift (and the hidden cost) of a great first year as a Soloist.

Why hitting the wall—where your revenue tanks or plateaus—happens, especially with new-ish Soloists.

When it’s time to invest in positioning yourself appropriately and developing a sales system to consistently fill your pipeline.

One simple action to ensure you’re ready to turn around a difficult revenue situation.

Why it’s never too late to niche down—and how to do it without wasting months getting it right.

LINKS

Rochelle Moulton Email List | LinkedIn | Twitter | Instagram

BOOK A STRATEGY CALL WITH ROCHELLE

RESOURCES FOR SOLOISTS

Join the Soloist email list: helping thousands of Soloist Consultants smash through their revenue plateau.

Soloist Events: in-person events for Soloists to gather, connect and learn.

The Authority Code: How to Position, Monetize and Sell Your Expertise: equal parts bible, blueprint and bushido. How to think like, become—and remain—an authority.

TRANSCRIPT

00:00 - 00:45

Rochelle Moulton: If you haven't honed your messaging to focus on your ideal clients and buyers, and you haven't built a recurring system to find, nurture, and close those people, eventually you'll hit that wall. Hello, hello. Welcome to the Soloist Life podcast, where we're all about turning your expertise into wealth and impact. I'm Rochelle Moulton. And today I want to share a listener question about pulling yourself out of a slump because I've been hearing variations on this lately and it's worth addressing. So this particular question goes like this. I'm feeling stuck in my business and I just don't know what

00:45 - 01:21

Rochelle Moulton: to do next. In the past, I hit over $100, 000 in revenue easily. And 2 years ago, I broke $200, 000 for the first time and I was thrilled. The last year though, has been pretty miserable. I just barely hit $100, 000 in 2023 and I won't in 2024 unless something changes dramatically. Is this a sign I need to go get a job or is this fixable? Okay, so let's call this person Chris because they didn't want to identify themselves in the show. Chris and I tossed a few emails back and forth, and this is what

01:21 - 01:57

Rochelle Moulton: else I learned that I think is important to talk about what to do next. 1, Chris is a B2B consultant with a respectable level of expertise, about 8 years in their specialty. 2, if we were to look at Chris's website and social media, we'd see they focus more on talking about their expertise versus identifying their ideal client and the specific problems they solve. 3, Chris has been in business for almost 4 years and they need about $100, 000 in revenue to meet their basic needs, but have targeted $200, 000 as their goal to build a Freedom

01:57 - 02:33

Rochelle Moulton: Fund for their future. So I think of that as their enough goal. They can tighten their belt for a year or so, but they need to be on a $100, 000 plus trajectory soon. 4, Chris does not have any sort of consistent pipeline of new clients, nor do they have any recurring revenue of any consequence. It's mostly project work. 5, Chris has been experimenting a bit, but since nothing is stuck yet, they're starting to doubt themselves to feel less confident. And finally, number 6, all that said, they really, really, really don't want to go back to

02:33 - 03:10

Rochelle Moulton: a job job. All of this is important information when you're making big life decisions. You know in your heart of hearts whether you want to stay independent or go back inside. And it's folly to ignore your very real need for revenue to support yourself and perhaps others. So what we have in Chris is someone wh...