70: Beyond the Six-Figure Ceiling: Our Multi-Six Figure Strategies for Scaling Beyond 100k

Straight to the Point: Scaling Your Business

This week, we're skipping the weekly update because it's been business as usual. Instead, we're diving straight into how we scaled our business from six figures to multi-six figures, and what we'd do differently if we were starting over today.

Growth vs. Scaling

First, we break down the difference between growing and scaling your business. Growth is all about increasing your top-line revenue, even if it means higher costs. Scaling, on the other hand, focuses on increasing revenue while minimizing costs.

Our Six-Figure Foundation

To give you some context, we share what got us to our first six figures:

• Clarifying your vision, mission, and values.
• Establishing a specific avatar and creating one solid core offer.
• Focusing on an elite client journey to build a solid community through authentic connections, referrals, and testimonials.
• Building your brand and staying consistent, even if it means long hours and hustle.

Strategies for Scaling

Once you're at six figures, it’s time to implement strategies to scale:

1. Delegation and Time Audits: We talk about the importance of conducting a time audit to identify tasks that can be delegated or outsourced, allowing you to focus on tasks that truly move the needle.
2. Expanding Your Offer Suite: Introducing new offers like online coaching, evergreen programs, and high-ticket services to serve more clients without increasing your workload.
3. Building a Team: Moving from being self-employed to becoming a true business owner by hiring team members and delegating tasks that can be done more cost-effectively by others.
4. Increasing Omnipresence: Expanding your presence across multiple channels to reach a broader audience without spreading yourself too thin.

Mindset Shifts and Overcoming Limiting Beliefs

We dive deep into the mindset shifts needed to overcome imposter syndrome and embrace your role as a leader and authority in your field. From positioning yourself as an expert to dealing with the fear of judgment, we cover it all.

Celebrating Milestones

We also share a vulnerable moment where we discuss the importance of celebrating your wins at every stage, even if you feel you're not yet where you want to be. Jess hit a major milestone with over 400K revenue for FY24, and we reflect on the importance of acknowledging these achievements.

💪🏽 At MGTVY Coaching, we understand that achieving your goal body is a science, but getting there is a behaviour. That’s why we aren't just another training program and nutrition plan - We are here to educate and empower you to unf$%k your relationship with food, build body confidence, and create a flexible routine & lifestyle that facilitates SUSTAINABLE results.

Book your FREE consultation call with Meg today → ⁠https://www.megtovey.com/

💄🔓 Unlock your beauty business’s full potential with bespoke strategies, accountability and tailored guidance to scale your success.

Book your FREE discovery call with Jessica today → ⁠https://www.houseofbrows.com.au/pages/lets-chat-about-hb-academy ⁠

Connect with Us!

Podcast Instagram: ⁠https://www.instagram.com/talktoveytomepod/ ⁠

Meg’s Instagram: ⁠https://www.instagram.com/megantovey/⁠

Jess’s Instagram: ⁠https://www.instagram.com/houseofbrows__/

Timestamps:

00:00 Introduction

00:24 Diving into Business Scaling

00:35 From Six Figures to Multi Six Figures

01:09 Understanding Growth vs. Scaling

04:13 Key Strategies for Scaling

12:33 Expanding Your Offer Suite

19:30 Building a Team

22:55 Increasing Your Omnipresence

31:10 Celebrating Milestones and Overcoming Limiting Beliefs

32:35 Vulnerability and Transparency in Business

40:20 Final Reflections and Takeaways