I’ve been paying attention to what you’re telling me… (Not that stuff!)
Over the last year more than 100 consultants, coaches, and expert business owners have taken my diagnostic (if you haven’t taken it, why not? It’s here: Take The Asset Path® Diagnostic to discover where you are on Your Consultant’s Journey)
Many expert business owners:
- Don’t have any products to sell (only 28% had a product) – this means that about 70% of expert business owners are forced (well, forcing themselves) into selling their time
- Only 5.9% have recurring revenue from book sales, products, or licenses (which means more than 9 out of 10 consultants are not earning if they’re not working)
- Just 21.2% could take a month off and money would still be OK
So, don’t listen to me – look at the data – it never lies (unless you’re a politician).
Overall, it’s tough being a solo business owner. You have to think and do stuff – bloody hell!
If you’re one of the statistics, it’s not your fault. I get it. I’ve done it too. I sold all my hours, ran around like my pants were on fire, feasted and famined, helped my clients build their businesses… while mine stagnated. I didn’t have a system for creating business generating assets (78% don’t), I didn’t have frameworks or protocols that other people would reference (68% don’t), I didn’t have a vault of written case studies, testimonials and explainers showcasing the value I add (63% don’t), I didn’t have any registered IP (79% don’t). I turned this all around in less than two years. And you can too.
Anyhoo, don’t listen to me, do you want the data? Here’s a link to a presentation about how we work, and the data is at the end. Let me know your thoughts.
But it’s no good me telling you it’s a bit cold out there, if I don’t show you how to get all warm and snuggly.
Here’s how to fix these problems:
1. Make ‘creating business assets’ part of your ‘job’. Prioritise creating assets. Put it at the top of your agenda.
2. Plan creating business assets in your yearly agenda. It’s nearly 2022, have you put aside time next year? I make a new asset every quarter.
3. Make the most of your current assets: upcycle, recycle or repackage them.
4. Do less – much less. Learn to be strategically lazy by experimenting, shipping, and ditching ideas that don’t work, and then focusing on the ones that do.
5. Get things done. Get them shipped. It’s not a business asset if it’s stuck in your head.
6. Get out of the way. You really shouldn’t be doing all these things yourself, or by yourself.
This is how How Smart Consultants Turn Their Clever Thoughts into Valuable Things
To Scale Their Business (book coming out early 2022 – lol!)
I know, you’re probably thinking: How do you find the time to make all these assets?
Well, the most important thing to do is STOP doing the wrong things, so you can START doing the things that will move the needle for your business. But how do you know what to stop?
You do a detox with me – it’s free and almost painless (actually I can’t guarantee the painless bit, but it really is free!) – at the end of the Detox you’ll have cleared up your mind, your desk and have a system to detox whenever you feel the need (I do it every quarter).
When you’ve reduced – eliminated – deleted – squashed – scrumpled (ok, I’ve run out of poecilonyms*, but you get the point!) all the stuff you shouldn’t be doing, then you’ll have time to make assets for your business…
Ciao for now,
* A synonym for synonyms – who knew!
PS: Have you thought about joining our small inner circle, The Better Than Great Club: https://theassetpath.com/join-the-mva-club/
We have 3 calls per month where I deliver a business-building idea, there’s a forum for discussion, then every quarter we do a 3-week sprint to build an asset from scratch – for example, a book or a podcast, an app or your visual business framework. You get to ask me anything on a regular basis, and I give personal feedback via loom on your prototypes, ideas, and writing. We’re in founding member phase at the moment (till the end of 2021), so the price is the best it will ever be, and you lock it in forever!