I Met 50 Millionaire Entrepreneurs and Learned THIS
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I joined a mastermind and the minimum to join was having a business that is making 1/2 a million a year to join.
MOST are doing $1M a year or multiple millions a year.
These are all women, they all run online businesses, and they mostly sell courses or coaching. But not the “business coaching, coaching someone on business coaching” haha, there's a couple of those, but the vast majority are on topics you would never expect would make millions.
Feung Shui, childhood trauma healing, educational resources for teachers, I'm in the group and I teach people how to build websites & web design businesses, etc.
Random topics!
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I've joined these ladies for weekly calls, dinners, trips (including this one to Necker Island!), hangouts on my couch, and I've learned a LOT from them.
Ways that they think,
ways they prioritise time,
ways they learn,
ways they operate.
I've seen the habits and mindsets they have which have them blowing past their competition, when others in the same industry are struggling and they're thriving.
Here are the most important “millionaire-mindset” lessons I've taken away from my time with them.
First: They create content.
A lot of it.
They know that content creation is the fuel of the online business engine. It's the gas that keeps the car moving and so they focus on it accordingly.
Interestingly, MOST do a podcast, some them do YouTube, no one is just blogging alone anymore, some of them do social media, some don't.
Now interestingly with the fact most do a podcast, I don't think a podcast is the medium to be successful, but I do think it's the most high-touch, least effort format.
And these women, as we're about to learn are extremely conscious of how they spend their time and podcasting is relatively easy to produce.
No one is getting by in the online business world without content creation these days, so if you have dreams to take your business into the millions, and you're not creating content, it's time to get on the content train.
Need a helping hand? Grab my free content creation outlines below!
Second millionaire habit: They focus & are extremely conscious about time wasting.
One thing which I found extremely comforting and made me optimistic was that MOST have children, these millionnaire women have children at the same rate as non-millionnaire women.
According to the New York Times,
"86 percent of women ages 40 to 44 — near the end of their reproductive years — are mothers"
and when I did a quick observation of the women I know personally who are running million-dollar businesses, about 85% of them have children.
So these women have children as often as women who are employees or women who have smaller businesses, so it's not because they don't have kids that they have more time to create content or have more time to work on their business.
And from being with them, the thing which I think makes it possible for them to have these extremely successful businesses and have children is they get way more strict with their time than most people.
They will ignore messages that are unimportant, eliminate projects that are time intensive but not profitable, they don't spend time going to trainings or calls which don't directly relate to what they want to learn or work on now in their businesses, etc.
They focus on the important stuff, and when I say important stuff, I mean the primary metrics that they're looking at are
1. Their email list size and the thing which feeds the email list which is the metrics of how the content they're producing is going and also
2. Profit.
Contrary to popular belief about female CEO's being absent parents, if anything they have MORE time to be with their kids than your average employee, because from my interactions with them I've noticed that they set up a business to optimize for time for family.
They're not eliminating time with kids to have more time for work, instead they're focusing on a few important projects at work when most people are distracted by shiny objects, in order to make the most money in the shortest amount of time, so they have more time for their families.
Third millionaire mindest habit: Most have personal brands, and they get super personal.
Some personal brands are very "I'm Jessica, here's what I do."
Other personal brands, the ones these women run are a whole different level of personal.
Hellah-personal, personal brands.
They share updates about their lives & kids & struggles & wins.
They share stories that most of us might cringe at the thought of sharing.
The content they create is like the content they'd share with a best friend.
They definitely have boundaries and don't share everything, but they'll go there and share stuff on certain topics that others might not feel comfortable with.
Denise Duffield Thomas shared "I’M A SELF-MADE MILLIONAIRE, AND THIS IS EXACTLY HOW MUCH HELP I HAVE AT HOME"
Some people would be afraid to share the fact they don't do their kids laundry or make them lunch. They'd be afraid of being shamed.
Denise wasn't.
Another mastermind friend, Lisa Johnson shares screenshots of her Stripe account from what's gone into her business account this month.
A lot of people wouldn't do that.
But don't take this to think that if you want to be successful you need to share all of your dirty laundry on the internet, these women selectively share and not everything which is going down is making it online.
But they're generally a little more open to being open than your average business owner I find, they build more personal, personal brands.
For example… instead of sharing
“Here's the 5 things to do to grow a business”
it's
“here's the 5 things I did to grow a business to a million”
There's a difference.
There's stories & their life in the second piece of content, but not in the first.
Fourth millionaire habit: They're obsessed with their business topic.
There's a level of passion & excitement and honestly insane work output which comes with being obsessed about your topic, so if you don't wake up thrilled to work on your business...
it might be a sign to switch business ideas.
Because it takes passion to show up and talk on the same topic for 5, 10 or 15 years.
And most of the time, these businesses weren't million-dollar business in year 1 or two.
I actually can't think of any that were.
Most often it's a goodddd few years until they get to the level they're at.
These ladies might make a slight pivot in their businesses over time, but generally they've become known as the go-to expert for a topic and have stuck with that rough topic for years.
So knowing this is all well and good, but how can you make your first step towards a million-dollar business?
Coming back to what I said earlier, it's about focus on the important needle-movers.
Like list building...
Not sure where to start?
Watch this video next and I'll share exactly what I'd do if I were to start list-building all over again.
