How to Scale an Online Business from Six to Seven Figures?

Many online entrepreneurs manage to create a six-figure income for their business but can’t scale it further. “What are we doing wrong?” they ask. “What is holding us back?”

Olly Richards believes there are three vital ingredients that you need to master before you can step into the seven-figure league.

Copywriting

“Copywriting is your ability to know what to write to people so that they do the things you need them to do’’

People notice your business when its message makes them pause. Will they stick around and buy your products or disappear into the virtual distance?  

Carefully crafted words — whether spoken in a podcast or written on a blog — influence your fans’ decisions more than anything else.

Copywriting is more than just learning to write a persuasive sales page. Your messaging needs to sing the right notes, from headlines to thank you emails and everything in between. 

Unfortunately, it can be difficult to find a great copywriter — and most of them are expensive. So writing becomes difficult to outsource and is something you need to master before you can grow.

World building

“It’s not just an app, or a course. When you come into my world I have so many places to send you… a huge variety of courses, blog posts, books… and everything is based around story.”

To scale from six to seven figures your fans need a world to come to. Now, we’re not talking sci-fi or cosplay, here. We’re focusing on the consistency of your key message. 

When fans love the messaging that pervades your brand from blog posts and podcasts to books, coaching and courses, they’ll become your best, repeat customers.

“World building is about creating raving fans who want more and more of the stuff that you create.”

Mindset

Having a positive, growth-oriented mindset is the most important element of all when you want to scale your business. In fact, Olly says that while having a strong mindset won’t get you to seven figures by itself, a weak mindset will certainly stop you from succeeding.

A positive business mindset means that you: 

• Stay focused and confident when things go wrong. 
• Build a cohesive team to run the business.
• Manage your finances — not only your bookkeeping and accounting needs but also understanding the money trail and making smart spending decisions.
• Stay patient and focused — not jumping from one thing to another or panicking when your product launch fails.
• Look after your health including taking regular breaks away and ensuring that the day-to-day business can run without you.

“The important thing is that mindset, more often than not, stops people from growing a seven-figure business. They’ve got the potential but they don’t have the demeanour or the temperament to manage their energy properly from day to day.”

Achieving the right mindset to scale your business

Most entrepreneurs are new to the game when they start their first business, and they tend to learn things the hard way. 

“Generally speaking you’ve got to learn how it works and how to manage your time, money and resources.”

Reading, podcasts and videos, mentors and groups are all excellent ways to learn, but if you’re serious about scaling your business then you need to have a coach. 

Coaching is expensive, that’s true. But it more than pays for itself because you can advance so quickly when you have an experienced coach advising you. 

That philosophy extends to all aspects of your life, because everything is related. So, health coaches, fitness trainers, and therapists who help you care for your well-being are as important as your business coach.

“Anyone who’s not having coaching, for me, is not taking their business seriously enough… You can’t do this by yourself and there’s so much you don’t know. To not have a coach is to say ‘I don’t believe there are lessons out there that I need to learn” 

In a nutshell

To scale your business from six to seven figures you need to: 

• Nail the copywriting – persuade people to take action.
• Build a world – provide a variety of products to buy and keep the messaging consistent throughout.
• Cultivate the right mindset. Stay positive, learn what you don’t know, hire a great team, strategize and look after health.
• Get coaching to maximise your potential.