How can creators like us, who are new to building online businesses, who have high-value skillsets, how do we scale our monthly recurring revenue (MRR) to get us the freedom we desire? That is the question, and this newsletter will give you the answers. Be sure to subscribe if these are the type of answers you seek.
My name is Boysie Gordon, and welcome to Boysie Talks Business.
In today’s episode, I want to break down the three key ingredients that scaled my first business from $0 to $65k MRR in the first 60 days of business.
But first, let’s break down the numbers→
Day 0—31: $0
Day 31—60: $67,807.70 with 37.75% profit margins
The first month, I made calls every day, but I didn’t close a single account.
And when I finally won the business, I had only won 14 orders.
Yes, you heard me: I made $67k+ in revenue and $25k+ profit on 14 orders.
In this episode, I will share with you the three keys to my success!
Key #1 — I kept my head down
Key #2 — I was fluent in my ICP’s language
Key #3 — I accidentally differentiated my business model
Those are the keys, let’s dig in!
Key #1 — Keeping My Head Down
What do most people think when they hear this phrase?
Avoidance of attention.
Well, that is not at all what I mean. When I said I kept my head down, I meant like a bull in a china shop. I was relentless in my efforts, and I didn’t bother looking up until I accomplished my goal.
I was making call after call.
Striking out on pitch after pitch.
Receiving hell no after hell no.
Ahh, the good times.
As you can see in the breakdown, I made no money in Month 1.
But all the work that I did in month one appeared in Month 2. That is something that many people fail to see. There is a bit of a lag between action and result when it comes to a new business.
So, if you want to scale quickly, put your head down and grind for 90 days before looking up.
Who knows, you might get lucky and see something sooner!
Key #2 — I Speak ICP
For those who don’t know, ICP means Ideal Customer Persona.
It is the gold mine for all things sales-related.
It controls your profit
It controls your pitch
It controls your offer
From all my years in sales, I learned how to identify my target market, and this helped me scale quickly.
So, I knew exactly who my customers were at the time. I wanted freight forwarders that moved high volumes. You don’t have to know any of that, but you do need to know this:
I could easily reach DMs
There was opportunity
There was a lot of pain
So, I knew I had a quality ICP and a good enough offer.
Now comes the part where being an introvert was helpful. I empathized with their pain!
I thought about what made them tick.
I thought about what would make them happy.
Then I began changing my pitch and language to reflect that. I got very detailed with it and that investment helped me to sell myself without much effort.
But that’s not all understanding my ICP did to my business…
Key #3 — Oops, I Differentiated My Business
This was what led to the biggest mistake I ever made as an entrepreneur.
I hit a gold mine and didn’t realize it until it was too late.
In the first two months, I kept my head down and grinded as long as I could. Then, I sought to better understand my ICP and began tailoring my business to them.
Then something happened…
It worked!
I landed my first customer, AND it was on a project!
But it’s not until now that I understand why it worked.
See, this project was multi-faceted. It required tons of moving parts and extreme coordination between multiple parties. This complexity was the reason the charges were as high as they were.
I made almost $5,000 per order in revenue!
So what was my mistake?
I didn’t change my offer to win more of this type of business.
I offered my services and said yes to whatever the client asked for just so I could win the business. At the time, I didn’t realize that this was a possible high-value niche!
This was my fatal flaw!
I’d continue to win similar projects, but not once did I stop and think about the possibility that I could have specialized in this type of work!
Entrepreneurship is hard!
When you are in the thick of battle, it’s hard to zoom out and see the entire picture! I was responsible for sales, accounting, hiring, order fulfillment, account management, and so much more.
All I saw was the revenue and the profit.
Don’t get me wrong, my business did really well the first year, but I can only imagine what it would have been if I had someone keeping a birds-eye view on it for me.
These mistakes are what inspired me to help others with their business!
That’s why, for this month, I want to help ONE business owner scale their company.
Thanks for reading!
P.S.
If you want to work with me, reply or comment “scale” and I’ll schedule a free strategy call with you.
EP. 7 I Went From $0 to $67,000+ in MRR in 60 Days... You Wouldn't Believe What Actually Works.