Running the Race of Business
I want to talk about something that’s been on my mind lately, something I’m calling “running the race of business.” I’ve been thinking about this topic recently as we recently completed our biggest FBA (Fitness Business Accelerator) launch ever! I’m so proud of my team, and I’m genuinely excited about the new students who are beginning their online business journey.
In our kickoff call, I asked my new students to rate their excitement level on a scale of 1 to 10, and the responses were overwhelmingly positive – 10’s, 11’s, even some 13’s! I love the enthusiasm, but as experienced coaches, we know that the initial excitement can fade, and challenges will arise. So, I recorded a FitBizU episode about preparing you for the long race of building your online business, reminding you that it won’t always be a 10 out of 10 excitement level… but it’s always worth it.
I’ve seen it time and time again: people start with a burst of motivation, only to fizzle out when they encounter obstacles or face the reality that building a successful online business takes time.
Research even shows that people are more excited to start a new diet than to stick with it. The average person sticks to a diet for about five weeks. The same goes for business. But building a business can’t be a short-term endeavor; it’s a lifelong commitment. There’s a Gary Vaynerchuk quote that really resonates here: “If you say you want to do something for the rest of your life, you don’t give up after four months.”
So, let’s delve into how to maintain the stamina and mindset required to keep running the race of business, even when the path gets tough.
The Illusion of Shortcuts
In entrepreneurship, there’s a pervasive illusion that shortcuts exist. So many marketing gurus promise faster, easier ways to success, but having spent over a decade in this field, I can assure you there are no shortcuts. In fact, those who try to take shortcuts often end up on a longer, more challenging path.
It’s tempting to believe that there’s a secret formula or a magic bullet for success, but in reality, success comes from consistent effort, resilience, and adaptability.
Let’s discuss some key questions and strategies to help you stay in the game for the long haul.
Maintaining Longevity in Business
In the early stages of your business, it’s common to experience mindset challenges like “comparisonitis,” imposter syndrome, and feelings of being behind. Recognize when these thoughts creep in and work on managing them. These negative mindsets can be major roadblocks to your success.
2. It’s a Marathon, Not a Sprint:
Understand that building a successful online business is a marathon, not a sprint. Don’t expect instant results. Focus on consistent, incremental progress, and be patient with yourself.
While boundaries are essential, be prepared to say “yes” more often in the beginning to gain experience and credibility. As you grow, you’ll earn the right to set stronger boundaries and make more selective choices.
4. Growth and Demand:
Assess your audience size and demand. In the early stages, you may need to do more one-on-one work to generate income. Over time, focus on growing your audience to support group programs or self-paced offers.
5. Non-Negotiable Tools and Platforms:
Identify the tools and platforms that are non-negotiable for your business. Social media is often a crucial channel, so embrace it even if it’s not your favorite. Podcasting and other mediums can also play a role, but prioritize based on your audience and goals.
6. Audience Growth:
Avoid chasing audience growth purely for vanity metrics. Focus on providing value to your existing audience first. Building a meaningful relationship with your current followers can be more valuable than sheer numbers.
7. Feedback and Impact:
Keep a “thank you” folder for positive feedback from your audience. These messages can serve as powerful reminders of the impact your work has on others, especially during challenging times.
8. Long-Term Vision:
Envision how you want your business and life to look five years from now. Consider the number of hours you want to work, the activities that bring you joy, and your ideal client interactions.
9. Benchmarks for Success:
Set benchmarks beyond revenue alone. Look for signs of growth, engagement, and positive feedback from your audience. Remember, it’s not just about the destination; it’s about the journey.
Building a successful online business is an ongoing journey and while there will be challenges along the way, it’s also incredibly rewarding. Embrace the process, stay focused on your goals, and don’t be deterred by the illusion of shortcuts. Success will come to those who remain resilient, adaptable, and passionate about what they do.
I hope this episode has provided you with valuable insights and motivation to keep running the race of business, even when the path seems long and uncertain… Remember, every step you take brings you closer to your goals, and the impact you have on others can be truly life-changing.