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36. Top 4 energy and profit leaks I see in WOC-led businesses
Manage episode 422120701 series 3519749
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The thing about being a WOC business owner is that we tend to use our big hearts against ourselves. When all you want to do is serve, it's understandable that you'd put yourself on the back burner. In fact, that tendency is often the first thing that's modeled to us as children.
But here's the thing: abandoning our own needs, energetically or monetarily, is a huge disservice to everyone around us. It's the old adage of "put your mask on before putting on your neighbors." For example, if I'm undercharging, I actually can't help people the way I want to because I'm constantly worried about how I'm going to support my daughter.
So today, I'm going through the four energy and profit leaks that are most common amongst WOC entrepreneurs.
Here's a quick rundown:
1. Juggling too many things before you have the profit and support for it.
We all need to be prioritizing profit first. You need demand for ONE offer before the profit can create out of overflow. Spreading yourself too thin from the beginning looks like trying to create an offer for every conceivable buyer.
2. We make things “accessible” before making them sustainable.
You can’t lift 100 people onto a lifeboat. It costs money to run programs at scale. Profit first, then scale. You can help more people for free through your emails, podcasts, and workshops. But focus on making the result so good that you have less thoughts about the price. If we forget to build the belief that our offers change lives, it's hard to sell a sustainable offer.
3. Tendency to over-index on education and service.
I'm seeing WOC teaching and running free workshops with no clear sell and leading free groups. But then they’re not building a clear bridge to your offer. Spend more copy “real estate” building a bridge + talking about the offer!
4. Discomfort with rest and calendar space.
Most of us associate hard work with keeping us safe. This has been true for past generations, and it was even modeled to us through our mothers. But in business, million-dollar thinking occurs in calendar space.
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