Today is an extra special episode, as I’m bringing back my friend and mentor, James Wedmore, to the podcast. Being a part of James’ mastermind has resulted in a huge evolution of my own business, and I know that what he shares today will be so valuable for all entrepreneurs trying to build their own business by design.
James was able to successfully leverage his love of video into something much bigger, and he says that “leverage” is a key word in his vocabulary. He also credits believing that anything is possible for driving him in his entrepreneurial journey.
If you want to make more money, you only need to do two things: solve bigger problems and reach more people. James says that you can do both by using leverage in your business!
It’s important to do things that you’re passionate about, and are good at, but you also have to actually make money with it for it to be a viable business.
When offering services, you need to consider the law of supply and demand. If you’re selling on-on-one services your prices will be based on this law, and your earning potential will be lower as you’ll have more competition and only so many hours to get paid on. Using leverage, videos that James has created six years ago are still being viewed today and creating impact, without any additional effort by him.
He adds that once you can identify who your ideal client is, you can get to the core of the person’s problem and when solving a bigger problem, you can put a bigger price tag on your offer.
Time is so much more valuable than money, and the thoughts you have and actions you take around this will be key in getting you to the next level in your business. By putting the processes and systems in place, your business won’t control you or just be a “glorified job.”
If you have a vision of what you want your future business to look like, you’ll know what you’re working towards and you will take the actions today to get there.
Part of James’ vision is that he wants to have fun every single day. This is one of the core values in his company, as well as requiring the people who work with him to infuse creativity into every task that they do.
In order to grow your ideal business online, you need to have trust and absolute conviction, or a knowing, that it’s going to happen for you and you are going to get to the next level.
He notes that our egos are always trying to outsmart us, but you need to be coachable and allow the ego to be stripped away. It’s trying to protect you, but in reality, it’s also holding you back.
James also believes that if you’re a personal brand, you can’t care so much what others people think of you. It’s all about making your life and business a commitment to your students and customers and how you’re showing up for your audience!
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