How to grow a 6 figure online business
Strategies to Rapidly Grow Your Online Business
You did it. You took the leap and created an online business! Transitioning from a personalised one-on-one service to the exciting world of one-to-many offerings such as a course, membership site, or coaching program.
After lots of hard work getting it off the ground, crafting your course or membership and bravely putting it out there, your sights are now set on scaling. You're aiming to reach a point where you can be selective about one-on-one clients because you're not solely reliant on that income and you might be craving the stability of that recurring revenue that regular sales or subscription payments bring.
But growth hasn't come easy. It feels like one step forward, two steps back.
You finally enrol a new member (YAY ), only to have two others cancel. (Disheartening and exhausting).
Moreover, I bet you adore the community you've built—your members, students, and clients—and dream of expanding it even further. You know your program delivers incredible value and your members and students love it.
You want to serve more people and see recurring revenue increase. But how?
So, how can you break free from this cycle? How can you expand your audience and prospects, propelling your online business to reach six figures and beyond?
In this blog I will share the 3 key strategies that will help you grow a 6 figure online business.
- Growing your Audience to Scale
- Unlocking the Power of Diverse Revenue Streams
- The Game-Changing Power of Automation
And why should you trust this advice?
Because I've been there, done that, and achieved it using these very strategies!
Whether you offer an online course, membership program, or coaching services, these steps hold the key to breaking out of the revenue rollercoaster. They'll help you gain predictable growth and impact more people.
So lets jump in and I will show you what I did and what has worked for me
Growing your Audience to Scale
You've probably heard the saying, “If you build it, they will come.” well just to be clear when it comes to having an online business, that saying is total BS! And while I take pride in my deep understanding and true connection with my members I also know that growing your online business is a numbers game.
You can have the most brilliant course or membership, but without a steady flow of new leads, sales will stagnate.
You need to have a ongoing strategy for audience growth. This strategy can include various tactics including content creation, other people's audiences, speaking, ads and much more.
The key is to have a mixture of approaches that keep your audience growing steadily.
Growing your Audience to Scale – What I do
I use a mix of different methods to keep growing my audience. These includes my weekly podcast called ‘Your Dream Business,' staying engaged on social media, speaking at industry summits, being a guest on fellow podcasters' shows, speaking at events, and running ad campaigns.
Remember, audience growth is not a one-time effort; it's an ongoing journey that requires dedication and a variety of strategies.
Unlocking the Power of Diverse Revenue Streams
Relying on a single offering can be risky business, having a wide array of revenue streams isn't just a savvy business move; it's a win-win for both you and your customers.
Here’s the thing, not everyone in your audience will invest to work with you (if only lol) Sometimes its about having a range of offerings that matches their price point or where they are in their business journey.
By offering different levels, you provide customers with options to engage with you in a way that suits them best.
More importantly diversification means that you are not putting all your eggs in one basket, you're spreading them around. That way, if something happens to one of those baskets, your business isn't left high and dry.
However when having multiple revenue streams you need to consider the following.
Make sure your offerings make sense, and that customers can easily grasp what they get at each level. Do they naturally flow together? For instance, does your course lead to a membership and then the membership leads to coaching for example.
It's crucial to make sure to understand the customer journey because if we don’t understand it, they won’t either.
Unlocking the Power of Diverse Revenue Streams – what I do
I have three main ways that customers can work with me, they are at different price points, and these prices align with the amount of time I invest. These include The Dream Business Club, The Executive Club and one-on-one work
However my income streams don’t stop there. They also come from speaking, my own in person events, consultancy work, affiliate/partner programs and courses.
Diversifying works when your offerings complement rather than compete. Structure them to provide clear next steps that scale customer investment and value.
The Game-Changing Power of Automation
Scaling your online business, increasing membership, boosting course sales, or taking your coaching to new heights requires effort But I know you are not afraid of hard work or you wouldn’t have got started in the first place.
The life of an online business owner involves juggling many plates, and the only way to keep them all spinning smoothly is through automation, systems, and processes.
I get it especially when you are starting out, budgets can be tight and it's tempting to do everything yourself to save money. However, if you're serious about building a thriving online business, then investing in yourself and automation is essential.
The first step is to ensure you have a robust platform that supports your online business and eases some of the heavy lifting. Automated processes that happen in the background and improve the user experience as well as taking work off your plate.
While automation can handle many tasks, some things still require a human touch. And now is the time to consider bringing on some help, if you haven’t already. Having a VA or team member that can execute some of this work is game changing – that way you can do the things that genuinely require only you
The Game-Changing Power of Automation – what I do
I can honestly say that I could not run my online business without the platforms and team that I have in place. The main platforms that I couldn’t live without are Kajabi, Asana & Slack.
Kajabi takes care of hosting my memberships, courses, emails, landing pages and automations, among other things. And Asana and slack help me collaborate with my team and keep everything on track.
I obviously use more systems than that but if I could only use one it would be Kajabi as it does so much! Want to find out more about Kajabi? Click here to check it out and to get a 30 day free trial. Affiliate link
My team has evolved over the years, and currently, it's small and perfectly suited to my needs. My core team consists of my full-time assistant and my social media manager, so don't worry—you don't need a massive squad to make a significant impact!
Smart automation and delegation will transform your business. Don't let a long to-do list hold you back. With the right systems and support, you can scale new heights.
Final thoughts on how to grow a 6 figure online business
Reaching 6-figures in revenue with an online business is an ambitious yet achievable goal for those willing to implement the right strategies consistently over time.
This is not a get rich quick guide because the truth is there isn’t one, but creating a 6 figure online business that you love is possible and I am living proof!
Believe in yourself and go after that dream and know that I'm cheering you on. T x