What it Really Takes to Run a 7-Figure Business

This topic is not meant to scare you off of your dreams of running a 7-Figure business, but it is meant to help you find clarity around your goals. For so many people reaching that million dollar mark means freedom and success, but while it is amazing, it doesn’t mean you’re done. When you reach the top, you have to keep going.

“One of the things I often do with myself when I’m faced with a challenging decision is say ‘If I were my own coach, what would I say to me right now?’ and that often helps me to remove emotion and to look at this through a different set of lenses.” -Emily Williams

I’ve been reflecting on this quite a bit lately as our company grows and pivots. What does it really take to run this company? I made it to 7-Figures relatively quickly in the world of business, but to stay there I’ve had to make many personal and business related shifts.

So the first thing you need to realize is that your role in your company is going to have to adapt. You won’t be the ones in the weeds, you’ll be the one making the hard decisions. You may not be able to spend all of your time focusing on coaching or the services you provide, because your role will have changed.

Along with that changing role you also have to stop doing everything. When I started my company, I was everything from the website designer to the customer service rep to the coach to the accounting professional. I did it all and while that gave me a huge amount of appreciation for the work that is required, it doesn’t serve me or the company to continue doing everything. Even some of the things I love doing.

You also have to learn when to step away from decisions and when to make decisions with and without emotions. I love my clients, but when it comes down to it, we have contracts and policies in place for a reason. Not every decision can be made from a place of emotion and you have to recognize when you’re too close to a situation.

There are so many things you have to do to grow and adapt with your business, but one of the most important is your ability to pivot. Your business is not going to grow linearly. What got you here, won’t necessarily get you there and there’s a reason for that. The world changes. Your team changes. Your growth and development changes you. So your business must change too.

As my company grows and changes I learn so much more about myself and my abilities. For instance, I know, without a doubt, that I believe in the message and mission of I Heart My Life. My passion for my company has not changed as it has grown, even as we’ve added team members and my role has changed.

So ask yourself this, do I really want to run a 7-Figure business?

In this Episode:

[00:42] No matter how much you love your business or how successful it is, there are still hard days.

[03:00] When I first started my company, my goal was to hit 6-Figures.

[05:48] Learn the six components you need to become a 7-Figure business owner.

[06:27] Your role in the company is going to have to adapt.

[12:21] Next, as your role changes you have to learn how to stop doing all the things!

[20:28] You have to learn when to input your emotions and when to remove them.

[23:10] Be willing to pivot! This is SO important.

[27:59] Running such a large business does require you to step in and work extra hours.

[32:14] Vulnerability is okay.

Quotes:

“One of the things I often do with myself when I’m faced with a challenging decision is say ‘If I were my own coach, what would I say to me right now?’ and that often helps me to remove emotion and to look at this through a different set of lenses.” – Emily Williams

“Just because you’re delegating, just because you’re growing your team, that doesn’t mean that you’re necessarily going to be working less.” – Emily Williams