Your Flywheel to Freedom
Hey there, it’s great to have you here!
As you know, life as a 1-person business at midlife isn't as easy as most of us had imagined. Given the amount of stress we face, it’s time to recognize that:
- we're not getting younger,
- we'd like to prioritize life over work,
- we want to break free from the feast-or-famine cycle.
Feast-or-famine is unfortunately a common experience for solopreneurs.
It's a rollercoaster of highs and lows. Feasts are times of delight as money is coming in and projects are in abundance.
However, when famine hits, it’s a different story entirely. Solopreneurs often overextend themselves trying to make ends meet, leading to stress and burnout.
Break free from the cycle
To break free from feast-or-famine vicious cycle, you need to have a consistent stream of high quality prospects entering your pipeline.
That being said, when the work you take on is determined by the number of available hours, your earning capacity is limited by time.
This means you must think strategically and look beyond client's work by diversifying or expanding your offerings.
Build the flywheel
To build a profitable 1-person digital business, you need to do these 3 things:
- Get more clients,
- Raise your rates,
- Sell more frequently.
When it comes to revenue growth, doing any one of the above will grow your revenue proportionately. By doing two, you will see a geometric growth in revenue. And three? That's when your revenue grow exponentially!
The key is to implement all 3 in such a way they complement each other that bring about a compounding effect–known as the "flywheel effect".
The flywheel effect and its impact on businesses is based on Jim Collins’s book, Turning the Flywheel: A Monograph to Accompany Good to Great:
Never underestimate the power of a great flywheel, especially when it builds compounding momentum over a very long time.
That's the mission of Freedom Flywheel, to help transform your client services into profitable digital products so you can break free from the feast-or-famine cycle for good.
Start building your flywheel
The best time to plant a tree was 20 years ago. The second best time is now.—Chinese Proverb
To get you started right, I'll be releasing a free 3-part field guide, Principles of Freedom Flywheel:
Part 1: Find Them (to be released on Feb 12, 2023)
You share your experience and solutions online but your content isn't getting discovered. You feel you're wasting your time and money creating content that isn't attracting the right audience.
Part 1 will show you how to generate 150 attention-worthy content ideas by making one shift.
Part 2: Fill Pipeline (to be released on Feb 19, 2023)
Creating attention-worthy content isn't the end game. If your goal is to grow your social media account, then this is not for you. Our goal here is to help you make money. To make money online, you need a catalyst to fill up your pipeline with prospects.
Part 2 will show you how to select the right catalyst for your 1-person business to fill your pipeline.
Part 3: Filter Them (to be released on Feb 26, 2023)
Not everyone in the pipeline are ready to work with you. Your role is to identify those who are ready and how they'd like to work with you. You're like an airline transporting passengers to their destination in different classes–First, Business, and Coach.
Part 3 will show you the minimum viable system you need to filter your prospects to maximize your profits.
Get your free copy of Principles of Freedom Flywheel
To receive this free 3-part field guide when it's launched, join us as a free Freedom Flywheel subscriber by entering your email address below.