5 Things Keeping You From Your First 5-Figure Month

Are you an online coach or creative feeling stuck trying to hit your first 5-figure month? Feeling like you’re putting in all the work but not seeing results? In this episode, we go through the 5 main things that I see my clients go through in one way or another at the start of their entrepreneurship journey, keeping them from seeing the business revenue they desire. Tune in to self-audit your business to see what you can improve!

Are you looking to take your business to the next level? Hitting your first 5 figure month is a milestone business goal. Listen in or have a read as I break down the 5 things you need to change to get you to 5k months faster! (7:10)

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Intro

The Wanderlover Podcast was created with a mission to enable travel and freedom through entrepreneurship. I’m your host, Danielle Hu, business mentor, content creator, and founder of the wander lover tune in every week for episodes about travel online business, social media, and mindset that will inspire you to take massive action towards living the life of your dreams. If you’ve been enjoying the Wanderlover podcast, if you’ve been tuning in and finding inspiration and taking away value, it would mean so much to me. If you could take a second to leave us a review on apple podcasts, I continue to record these episodes for you every single week and take all of your comments and feedback to heart.

Dani: 

Thank you guys so, so much. Hello. My loves. Welcome back to The Wanderlover Podcast. My name is Danielle Hu and I am your host recording this episode from bright and sunny Batukarus Indonesia. If you don’t know where this is, make sure you check out my episode from two weeks ago, where I go through my digital nomad life here. I’ve just extended my stay for a few more months. We’re moving into this ocean front sanctuary story loft right in front of my favorite beach break next week. I’m literally going to be able to see the water from bed from my actual bed. And I can’t wait to show you guys on stories, just how amazing this place is.

Dani:

It comes furnished with a full kitchen living area projector on a giant wall, a gym, a lot of surfboards and fiber optic internet. It’s such a great find. And a few of you have asked me how I find long-term rentals when I’m traveling. And the key is to experience a place for a few days or a few weeks, really talk to people, go door to door until you find your perfect accommodation. You have the flexibility in time. You have the flexibility in location and finances. So the more you stay in a place, the more familiar you will be with everything available. I know a few of our listeners are embarking on their one way flights.

Dani:

Very soon, if you are doing the same and you need tips or advice as to how to go about doing so, be sure to message me on Instagram. My DMs are always open and I’m always happy to help you.

Goal mapping w Passion Planner – 10% off using code DANIELLEH868

Dani: With that being said, we move in August 1st and that means I start a new passion planner next month. For those of you who don’t know, I’ve been using passion planner for the past five years. So I believe this is going to be the sixth passion planner I own because they are yearly planners. And every single year, I map out my life goals, my business goals on the very first page. It asks you if this was a magical sheet of paper and anything you write down comes true.

Dani:

What would you want to accomplish in your lifetime? And three years in one year and three months, you write down the date of today and all of those dates, then you break it down into action steps. And the rest of the planner is your weekly or daily roadmap as to what you’re going to execute on every day to get you there. I love this format ever since I first started using it in 2017 back then, I was like, I want to start my business. I want to quit my job. I want to live abroad. I want to find a boyfriend who also travels the world with me. I want to hit six figures and like everything I’ve written down I’ve made happen. And this is how I hold my client’s hands to help them do the same.

Dani:

I gift my clients, passion planners, and I’m just really excited to start my new one from scratch. It’s such a, you know, a blank slate where you realize limiting beliefs are all in your head and you can create for yourself a completely new reality. You have the options of purchase an undated or a dated passion planner that usually starts in January, but I have an academic version that starts in August. If you would like to get your own passion planner and start having an organizational system that’s conducive to your life and business goals, you can use the link in the episode description or enter the code. DanielleH868 at checkout for 10% off your next order of passion planner. I can’t wait for you to experience the same life changes. 

Momentum Mastermind waitlist – $500 off

Dani: Also, as a reminder, this is the last week you can enroll in momentum mastermind fall 2022 wait-lists for $500 off. We launch next month and weightless gets first dibs on the available spots. This is my four month group business coaching container, where we’re going to be making a lot of money really honing in on our business systems and structures and, or going to be supporting every other member on the same entrepreneurial journey. Click the link also in the episode description to be the first to know when we are officially live with enrollments, August is going to be such an amazing month full of changes, full of new adventures, full of new opportunities and people, new ways of thinking.

Business prerequisites for 5 figure months

Dani:

And so just going off of that energy, I want to introduce to all of you today’s episode: Five Things Keeping You From Your First five Figure Month. This is from personal experience, as well as through my Start Your Business Intensive clients. What I’m seeing again and again. And just so if you are working on your online business, just know these are things you need to be conscious of to be aware of because they could be holding you back. I also want to include a little disclaimer here. You do not need to have hit five figure months in business to be successful, or even to feel successful. People have different standards, expectations, and it’s totally okay.

Dani:

If this episode just does not apply to you, you do not have to listen to it, but if you are currently in business and you’re trying really, really hard to hit this milestone, and it’s just something you really want, it’s going to open up a lot more opportunities in your life, give you a lot more freedom. Then continue listening. Because this episode is for you as a prerequisite. I’m also going to assume that if you’re listening, you have an online business that you can monetize, or you have already started monetizing. If you’re listening and you’re like, I want to hit five figure months, but you don’t have a business yet.

Dani:

Then the biggest, you know, biggest opportunity there is to start your online business, because that’s going to enable you to make this amount of money. So you should at least have some services or some clients that you’re working with or some kind of income or revenue stream. If you don’t that’s okay. Check out the different resources on my website and just know that this episode might not be as applicable in your situation. 

Traffic

Dani: So the first thing, when you have an online business, that’s usually keeping you from making your first five figure month is not having enough traffic. And what I see with new entrepreneurs is they think that having a social media strategy means driving traffic to your business and to your page. And while that’s not wrong, you know, creating content on Instagram and posting on social media, everyday posting in stories that is so essential to getting your audience to know, like, and trust you. However, it’s not a safe strategy to drive cold traffic to your business because it’s not predictable and it’s not consistent. The only way you can get new followers onto your Instagram page is if you hit the explore page, if you go viral, if you are constantly engaging and following, and DM-ing other accounts to get them onto your page.

Dani:

But if you’re just posting for the sake of posting on your feed and on stories, you can’t really predict how many people are going to find your page every day and are those people target ideal clients. And so that is why, if you’re confusing your social media strategy with a traffic lead generating strategy, it’s going to prevent you from hitting your first five figure month because we need a consistent stream of new targeted leads who are readily going to buy from you or sign up with you or they need what you have to offer. When you can get all of those people to your page consistently on a daily basis, that is how you’re going to make sales and get new clients.

Dani:

Think of it. As if you have a restaurant you want to capture the attention of hungry people, right? If they’re not hungry, they’re most likely not going to be eating. But imagine if you’re just posting and creating content for your restaurant and most people that are finding you, they’re not hungry. They don’t want to buy, they don’t know, or they don’t like your food. Versus if you were able to target a hundred people, really hungry people who loves your cuisine, do you think you would be making more money from creating content for people who aren’t hungry, or if you could invite a hundred hungry people to your restaurant who loves your food, which scenario do you think you’d be making more money in?

Dani:

Same thing applies for your business. So you need to have enough targeted, consistent traffic on a day-to-day basis. If you don’t, it’s going to be really hard to convert people into clients and customers. 

High ticket items

Dani:

Okay. Second thing, keeping a lot of people away from their first five figure month is not having high ticket items. I experienced this in my first ever entrepreneurship experience, where with every product or sale I was making around $10. And so for me as a brand new business, if I had wanted to hit my first $10,000 month, I would have needed to sell a thousand units, which is a lot harder for a new business than selling five units of something that is $2,000.

Dani:

And what you’ll learn in my programs is how to price yourself at that level. Even if you are starting from scratch, how to structure your offers. So that with that $2,000 per unit, you’re not paying for inventory, you’re not paying for overhead. You’re not paying for staff like almost a hundred percent of those profits minus any processing fees. All of that goes to you and you get to keep it. And what’s great about this business model is as you are directing more and more traffic to your business, like you’re able to have the low ticket offers as well. But what I call it is having the high ticket offer in your back pocket.

Dani:

So as you’re getting more and more people aware, they might just go onto your website, not be interested in whatever it is that you’re selling for $10. And instead sign up with you one click for your high ticket item. 

Selling

Dani:

The third thing, keeping you from your five Figure Month. Maybe the fact that you are not selling. I see this a lot as well. Where as new entrepreneurs we sales means posting on Instagram and hoping someone is going to find your offers and sign up or buy from you. However, there is an art to sales.

Dani:

You need to specifically be talking about what it is that you are offering. All of its features, the investment, the pros, the cons, who it’s for who it’s not for the pain points, the pleasure points, give people a call to action, give people a sense of urgency that they need to sign up right now and do it for an extended period of time. If this is your first offer that you are selling, you probably need months and months and months of people hearing about it, of them getting used to seeing you on their feeds, getting used to you, selling on their feeds.

Dani:

And honestly, it’s probably going to feel really pushy in the beginning. You’re going to feel uncomfortable with it because you’ve never done it before. But in this day and age on social media, people need to see your offer at least eight times for them to make a decision and sign up with you. That is why in our programs, when we have a launch, when we are launching a new offer, we commit to at least a month of launching of driving ads to your sales pages for at least a month, getting cold traffic aware of your offers for at least a month. And the more you sell, the more you practice selling in stories, in your emails, on your website, the more sales you are going to make.

Dani:

So assess your current sales strategy. Are you simply posting with this ambiguous copy that you might have something to offer? Or are they sales posts? Are you selling because you need to be very direct with sales. Think of apple. When they have a new iPhone, they do a whole event, they do a whole party and they don’t stop talking about it until their next launch. Same thing with your business. We’re not taking any days off. We’re not going to be like, oh, let me just talk about it once and then be silent because of all of these interferes of what, if I’m being too pushy.

Dani:

What if people don’t want to see me anymore? We’re going to work past that and show up for our businesses. 

Trust

Dani:

Fourth thing. So if you are, you know, if you have enough traffic, if you have high ticket items, if you’re selling the fourth thing that might be keeping you from your first five figure month is not having enough trust with your community. It’s one thing to sell. It’s one thing to create offers. It’s one thing to drive traffic. But if your content doesn’t convey a sense that your audience can trust what you are saying, then there is opportunity and work to be done in that regard. Think about all of the consistent content you’re putting out.

Dani:

Is it only on one platform? Can you talk more about your expertise? And let’s say a podcast, maybe a YouTube channel. Maybe you can get featured in some publications. You need to have credibility or else people aren’t going to want to work with you. So do you have credibility? How do you come off and are people drawn to you? Are people drawn to your business? And your message trust comes with time. Because over time you’re going to have more content over time. You’re going to have more testimonials and as your numbers grow, so will your business just focus on creating the content, improving your authority in the industry, think of this as buying from Amazon, maybe like buying clothes from Amazon.

Dani:

You’re always kind of skeptical because there’s so many, you know, scammy stores with really cheap quality clothing, and you never want to go through that experience of seeing something and then getting something else, which is why testimonials are so important. Product reviews. Having people maybe like influencers on Instagram, tagging the Amazon link that gives so much credibility. How can you do the same in your business? 

Community 

Dani:

The fifth thing that is keeping you from hitting your five Figure Month is not having your entrepreneurial community. I knew this because coming from finance habits of people who are on different paths are so different priorities and values of what they do with their time is so different.

Dani:l

Maybe if you’re not surrounding yourself with entrepreneurs who are also really invested into making more money into growing their brand, the people you’re hanging out with right now, they could be stunting your growth. They could be focusing on things that just aren’t important or applicable to your situation. They say you are the average of the five people you spend the most time with your income is the average of the five people you spend the most time with. So ask yourself, who are you spending the most time with? Are they five figure entrepreneurs? Are they six figure entrepreneurs? Are they seven figure entrepreneurs, your daily habits?

Dani:

And what you focus on is going to be so different. If you change the people around you coming from corporate. When I joined my first mastermind, it was a $6,600 investment. And it scared me. I was like, why am I doing this? Is it worth it? Am I going to make my money back? And it was such a huge sum of money to me back then now as a multiple six-figure entrepreneur, a $6,600 investment. If I knew it was going to take me to the next level, I will instantly sign up. There’s no hesitation, no doubt. I know confidently from the bottom of my heart, that there is no way I’m not making it back.

Dani:

And this is because I’ve seen so many people around me do the same, investing into their business, investing into themselves and doing what it takes to get them to the next level. And when you have this energy around you, where people are so invested in their personal growth, when they’re making so much money and living life to the fullest, you just can’t help, but experience it for yourself. It’s just how it works. Who you hang out with is who you become. And this is why I created the momentum mastermind container. While I am traveling full time, I want to bring together international people from around the world.

Dani:

Last round of momentum. We had literally ladies from every corner of the planet and everyone loved to travel. Everyone was an entrepreneur. Everyone was creative and we made a lot of money all together. If you are looking for your community of people who just get you, you don’t have to explain yourself. You don’t have to be shy about your desires for what you want with your life. I encourage you to sign up for momentum weightless. You have one week to join before we officially launch. And don’t forget if you’re on the wait list, you’ll get $500 off. So I hope this episode was helpful. I hope you can think critically self analyze and see what you can be doing better in your online business and reflect on these five Things, Keeping You From Your five Figure Month, because if you can optimize every single one of these, there is no doubt.

Dani:

Your first five figure month is coming very, very soon. I’ll see you guys in the next episode, sending you all the tropical surf vibes from west Java and have an amazing week.

~~~

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