Hi there. It's Carolin Soldo here, back with you coming to you live from Buffalo, New York
in my office. And today I want to talk to you about 12 things that I learned from growing
two multimillion dollar companies over the last couple of years. Before we get started,
make sure you hit the bell and you subscribe to our channel. So you always know when new
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All about helping you go from passion to profits in your coaching business.
Have you ever felt like you're in the dark? Have you ever felt like you're in the dark
when it comes to building a business, right? You are not born an entrepreneur. Well, maybe
you were and you had that entrepreneurial spirit, but you are not born with all the
business know how, the strategies, and the wisdom to always make the right decisions.
And maybe sometimes you feel like you're reinventing the wheel. Right? There are so many decisions
for you to make on a daily basis about marketing, about sales, about your products and services,
about your team, your clients, and the list goes on and on and on. So how do you make
those decisions? People are looking up to you, right? And you are the one in charge.
You're the one who needs to direct the boat, direct the ship, right, and always know the
right steps to take.
And sometimes that's a difficult position to be in. And I know what that's like. Since
2006 I've built two multimillion dollar companies, one with my husband, Boris. And along the
way we've had to make many decisions and decide which way to go, which path would take us
to our ultimate goals. And we've learned a lot and I've always known the value of working
with mentors and guides and learning from people who were already where I wanted to
be, learning from their mistakes, from their successes, and getting that help so I could
get to my goals so much faster. So my goal today is to help you scale your business,
grow your business and fast track your way to success with a lot more elegance and ease.
My first tip for you is to select and follow a very specific business model. In the beginning
of my business, I learned from a lot of successful coaches and I looked at their business model.
I looked at the way they did business, the products that they're offering the services,
right? I looked at their marketing plans, I looked at lead generation, how they were
selling clients, how they were enrolling clients, the team they were managing. And I decided
to follow that model pretty closely. So I, I took a model out there that I believed in
and I followed it and I implemented the same big pillars in my own business. So when you
see a business model that you really like, choose it, study it closely, and then build
it based on that model.
Tip number two is branding. For some reason branding isn't that hot topic anymore and
people like to talk more about funnels and lead generation and marketing and all of that
is important. But what I have learned is that in order for your business to be competitive,
in order for your customers, your prospects to choose you over your competition and in
order for you to, you know, withstand whatever might be happening in the industry or whatever
might be happening in the economy, you need to have a strong competitive advantage and
a strong unique value proposition. So think about your brand. What do your customers know
about you? How do you show up in the world? What do people think about you feel when they
interact with you? What do they see? How do you present yourself? All of those pieces
are really important when it comes to your branding. So there's a brand personality,
right, there is the look and feel, the vibe that people get from you, the outcome and
what makes you you, what makes you unique and different and gives you that competitive
edge.
My third tip is hire the right people. I have found that hiring is difficult, right? When
you hire people, how do you know they have what it takes? How do you know their mindset
is right? They have the right skills, they have the right background, the right goals,
and they will help you make your company even more successful. We've made mistakes when
hiring. We've also hired some really great people, so you need to know who needs to be
in your company, what your requirements are, and how to select, hire and onboard the right
people for your team. Once simple tip I can give you when it comes to hiring is to select
people based on their values and on their skills secondary. So make values your top
priority and skills your second priority. If they bring the qualities that you really
want in in their values, select them and teach them the rest. They can always learn the skills
later, but when you have a team of people with the right values, your company has the
foundation it needs to grow and scale beyond what you ever thought possible.
Tip number four is get out of the doing and into the vision. Where are you going? Where's
the industry going? What are the latest trends in your industry right now? What do you need
to know and what changes do you have to make in order for you to grow and scale your business?
So it's really important for you to take that time away from the doing the clicking and
the details and let your team do that. And again, if you don't have a team that has your
back in that way, you need to let them go and find a team that can operate without you
being there 24 seven.
Tip number five is a good reputation. I find that your reputation in business is one of
the most important things. And once your reputation is damaged, it's really hard to get it back.
So make sure that you are working with the highest level of integrity. You're always
telling the truth. You're always honest and you don't change. You don't become bigger
than who you really are. You know what I mean? I've seen so many people grow their business
quickly, change who they are. They've become bigger than you know what's really happening
in that business. They, they sort of lose themselves. They lose their values, they lose
that connection they had with their market and that's how their business quickly goes
south. Your reputation is everything you have in this world and yes, you'll make mistakes.
I have made mistakes, but I always try to make it right. You will come across people
who you can never satisfy and that's okay. All you can ever do is do your best, right?
Be kind, be in integrity, be confident, show up with authority, but always have your reputation
in mind so that you know your company's reputation and your reputation is always protected.
Tip number six is keep an eye on profit. Many business owners don't know if they're actually
profitable and that's a problem because you might get into a rainy season, you may get
into a drought where your company is not earning as much as you thought it would, and you need
to have cash reserves in your business to cover those timeframes, right? To reinvest
in your business and to keep your business floating when you're going through times that
are not as profitable, not as high revenue as you thought they would be. It's also really
important to have cash reserves for things like events you want to host and taxes you
have to pay and unforeseen issues that might come up. So one thing I've always done in
my business is save as much as possible of my profits and keep the cash in my bank account.
And I can't tell you how many times this mentality has saved me.
Tip number seven is to be okay with negative reviews. I work with a lot of clients and
the one thing that breaks my heart is when my clients come to me and they say, Carolin,
I got my first bad review. This customer has said bad things about me. They left a bad
review, they're hurting my reputation and no matter what I do, I can't satisfy them.
And what I say to them is, you know what, this is actually time for you to celebrate.
Because once you have a bad review, you know you've made it. You know you've touched enough
people for you to actually come across somebody who will leave a bad review. Out of 10 people,
two people might leave bad reviews. Right? So, so there's, there's all these, these people
out there and you will eventually come across someone that you cannot satisfy for whatever
reason. Maybe you have done something, maybe you've made a mistake. People make mistakes.
Maybe you try to rectify it. Maybe you couldn't. Maybe you could not satisfy that client and
that's okay. All you can ever do is apologize. Do your best, learn from it and move on.
Tip number eight is to make your mindset priority. Have you ever heard this saying that 80% is
your mindset and 20% is your actions? It's really true. When it comes to your business
and accomplishing those big goals and overcoming all of these challenges that you're facing
as a business owner, your mindset needs to be top priority. So daily reading, daily meditation,
daily mindfulness, daily protecting of your mind and staying in a positive vibration is
most important for you to be able to face everything you're dealing with as a business
owner, I meditate, I read, I study, I take time off. I always work on my focus, my thoughts,
and my perspective because I know that my mind creates my reality.
Tip number nine is to not lose sight of having fun. As business owners, what do we do? We
work, work, and we work some more. Why? Because we want our businesses to grow. We want to
be successful. Everything is our responsibility, right? So what I see so many times is business
owners, coaches, consultants, service providers, authors. It doesn't matter what industry you're
in. I see you burning out. I see you resenting your business. I see you saying things like,
I don't want the business anymore. It's too much. All I do is work. I don't have time
for myself. I'm gaining weight. I don't have time for my kids. I have no fun. And in the
beginning you're excited about your vision and getting it done and getting ahead of the
game. But eventually over time you need to build in fun for yourself, time off for yourself
so that you can rejuvenate and you actually feel like you have balance in your life.
Tip number 10 is to stay creative. Sometimes we can lose our creativity. We get stuck in
a rut. We get stuck in the way we've always been doing things. We think about what has
worked last year, not what's working this year. We are stuck in the way we used to do
it and the way it used to work and we're not able to or willing to create new things, look
at the industry, look at new trends and try them out. In my business as a coach, there's
lots of technology that is being created and born and coming into the market all the time.
For example, chatbots are not really new anymore now, but many people are still resisting them
and not willing to look at this new technology and how it can fit in their business. Bring
the creativity back. Maybe have monthly brainstorming sessions with your team where you look around
the industry and what's happening and the new trends and what customers are doing, what
competitors are doing and what you can try out in your business to see if it works for
you to see if it's fun to see if it makes you more money or makes your customers even
happier than they are right now.
Tip number 11 is to not let overwhelm take over. How many times have you felt overwhelmed?
Let's be honest. Maybe you feel overwhelmed every single day. Maybe you feel like you
can never catch up your to do list, sometimes shrinks and then it always comes back to being,
you know, completely overwhelming and you can just never get on top of things. And what
I have learned is that overwhelm can be a state of mind. So it's not actually your reality.
It can be a state of mind and how you looking at the world. Because let's look at some people.
Let's look at people who run billion dollar businesses. Imagine how many things they have
to worry about and then look at people who are maybe stay at home moms. Now if you are
a stay at home mom, please don't be mad at me. But you're looking at your household and
the laundry and cooking and cleaning, whereas the billion dollar business owners looking
at maybe a thousand employees and all the little decisions coming with that. And what's
the difference? The stay at home mom can say, I'm completely overwhelmed with my day. The
business owner, the billion, the billionaire can also say I'm completely overwhelmed and
their reality is completely different. So what is really the factor here? It's their
perspective, it's how they're looking at things.
So I have learned that there are two really important things for me to stay out of overwhelm.
Number one is for me to prioritize. You only have so many hours in your day. When I wake
up in the morning, I take a piece of paper and I write down p one p two and p three,
priority one priority two and priority't three and I pick out three things that I really
want to get done that day or I want to do a lot of work on. And so my list might have
10 things on it or more, but I know I can get to all 10 things and staring at them will
only make me feel nervous and anxious. So I take three and I focus on them and that
will give me a sense of accomplishment, a sense of focus, and a sense of efficiency
and productivity.
The second thing I do is always take a step back when I feel overwhelmed, because many
times it is based on your expectations on yourself. Right? So when you feel overwhelmed,
it's not necessarily that you have so many things to do. Maybe you do, but what's really
getting you in the overwhelm is not being able to accomplish them in the time you thought
they needed to be done. So when there's 10 things for you to do and you feel they all
have to be done this week, then you feel overwhelmed. When you have 10 things to do, but you give
yourself a whole month to do them, then you feel spaciousness, you feel flexibility and
the overwhelm goes away. So think about the time frames that you're attaching to your
tasks and wonder, but really assess if those timeframes are even realistic. And if they
even make any sense. And with prioritization and attaching the right appropriate timing
to your tasks, I promise you will feel a lot less overwhelmed.
My last tip, tip number 12 is to create support network of peers. How many friends do you
have in business right now? How many friends in coaching or consulting, how many friends
in your specific industry? If you don't have any or not very many, you need to build that
network and make that a real priority in your business. You may have a coach or a mentor
or business partner, but in addition to that you need real friends, people who will be,
you know at the same level as you are, who experienced the same things, the same successes,
the same struggles and who know what it's like you need people to hang out with people
that you can reach out to and say how you deal with this? How would you approach the
situation? Let's go have some fun. Let's go for dinner, let's have a meeting. Let's have
some fun together, like minded people.
And if you don't have a support network of peers and friends in your business and you
are a coach or consultant, I would love to invite, you know, come to From Passion to
Profits Live. This is our big annual event and we've been hosting this for four years
in a row and this is my way of giving back to my community and bringing you guys together.
Amazing men and women from all around the world in all different types of coaching and
consulting niches will come together October, 11, 12 and 13 at the Edison Ballroom in New
York City From Passion to Profits Live is something you've never experienced before.
It's hundreds of coaches and consultants in one room and we come together to learn, to
study, to exchange what actually works for us in our business to help you grow and scale
your business to six figures, seven figures, multiple millions of dollars a year, making
a bigger impact.
The bigger difference on people in the world than you ever thought possible, but more than
anything, I want you to feel like you're supported. You have friends, you have people who really
have your back, people who want to support you, people that you can reach out to long
after the event if you want to come and you should, not if, get your ticket right now,
I want you to go to frompassiontoprofitslive.com get your ticket while tickets are still available.
Get ready, get your flight, get your hotel, and then get ready to meet some of the most
amazing people, coaches, and consultants who will embrace you. You'll meet me and my entire
team and I'll promise you you'll have the experience of a lifetime. Again, go to ompassiontoprofitslive.com
get your ticket right now and get ready to learn and grow and build a wonderful support
network of peers for your business.
And if you want our help to grow your coaching or consulting business right now reach out
to us. All you need to do is go to Carolinsoldo.com forward slash book now, select a time that's
most convenient for you and then you'll be speaking with my team in just a couple of
days from now. As always, I like to say stay focused on your goals because I believe that
you are meant to bring your big purpose and passion to the world. Thank you so much for
watching. If this served you, give me a like below or maybe share the episode with your
friends and then come back again next time. Thank you again for watching and I'll see
you soon.
From Passion to Profits Live, our big annual event for coaches and consultants is happening
this October in New York City. Discover the insider secrets of the millionaire coaches,
network with the stars, and learn from the best. Do you want at ticket? For more info,
go to ompassiontoprofitslive.com you don't want to miss it.