If you just scroll on Facebook, you’ll see tons of coaches and experts making it look like getting to the million dollar mark is as easy as grabbing your laptop and heading to your favorite beach.
Sorry to burst your bubble, but if you have millions on your mind, it’s going to take a little more than that.
Having a million-dollar company will be work. Now, I don’t believe that it has to be grind-filled work; I know firsthand it can be grace-filled work – but let’s be clear, there will be work. One of the things we created for our clients to help them get a handle on what it would take to get the elusive million-dollar mark in their companies is a little something we like to call the Million Dollar AssetsTM.
At Incredible Factor University (our suite of coaching and consulting programs for today’s millions minded entrepreneur) we tend to create things in sevens. So, in true form, there are seven Million Dollar AssetsTM:
- The Leverage + Scale Offer SuiteTM – your offer suite includes your high-end programs for your most ideal clients. We teach our clients that all offers start with your signature offer. To make it a full suite, you can offer a superb offer (your down-sell) and a select offer (your upsell) . Your signature offer is your most leveraged offer and offers the highest level of transformation in a group setting.
- The Leverage + Scale Messaging SuiteTM– Your messaging suite includes all things messaging to get and keep the attention of your most ideal clients. A compelling message is contrarian, and it emotionally connects with your prospects deeply. This suite will include your Must Have Marketing Messages (there are 15 of them), and all of your copy for emails, videos and social media as well as your signature stories to connect more deeply with your clients. And everything in your messaging suite must have SPICE. This framework is essential for cutting through the noise and converting clients into your programs.
- The Leverage + Scale Marketing SuiteTM – Your marketing suite includes what we refer to internally as your Business Success Formula – it includes the full sequence from ideal client to onboarding and every step in between. This suite also includes the marketing tools you’ll use to track your KPIs and develop new lead magnets for your audience. Marketing is the oxygen of a business and it’s essential to keep your business breathing.
- The Leverage + Scale Sales SuiteTM – Your sales suite will be based on one of the four options available to six figure business owners: enrollment webinars, traditional sales teams, live events and Requests for Proposals or RFPs for short. Often your sales tool depends on your ideal client and how they like to be offered programs to solve their problems. The cool thing is that regardless of which sales tool you choose, the process in that tool mirror the sales conversion mastery framework we developed and the 7 phases of a successful sales conversation. Lastly, each tool follows the conversation framework, which allows you to master the tool that works best for you.
- The Leverage + Scale Systems SuiteTM – Your systems suite governs all of the processes, procedures and frameworks used by your team to keep your business running. Systems make success predictable and documenting your key systems makes you as the CEO and lead service provider duplicatable. As I am sure you could guess, there are 7 systems to 7 figures: operational management, client management, financial management, marketing management, sales management, talent management and legal management. Each system has their own set of SOPs (standard operating procedures), support software and teams that are responsible for the functioning of that system.
- The Leverage + Scale Talent SuiteTM – Your talent suite is all about your hiring processes and HR for your team. I’m partial to hiring full-time employees vs using contractors but the suite functions the same whether they are employees or contractors. This suite will include your organization chart broken into the three core teams: operations, sales and talent, job descriptions, compensation pans, onboarding processes, performance reviews, corrective action and HR support.
- The Leverage + Scale Legacy SuiteTM – Your legacy suite is essential to your ability to leave something behind when you decide to stop running your company. Included in this suite are your intellectual property protection, your wealth plan, your succession plan, your operating agreement and directives, your investment portfolio, insurance portfolio and your estate plan. If you opt for profit sharing with your team, you’d also find that here.
Each suite comprises the framework, processes and methodology to set it up to do the heavy lifting for that area of your company. Each component is essential to being able to make your success predictable in that area. By now, I am hoping that you see that I was telling you the truth – having a million-dollar company will take work to get everything set up so that your company serves and supports your personal and professional goals. I’m sure it looks like a lot, but it doesn’t have to be something that you get in place on your own. We take time to delve into the Million Dollar Assets in our Move to Millions Mastermind. We’d love to help you set up your assets and put your company solidly on the trajectory to millions. Learn more about the Move to Millions Mastermind today.