Owning a business is now fairly commonplace. In fact, most of my friends online own a business. If you’ve been following the Shield Sisters Initiative for a while, you’ll know that we launched the Coaching Club back in August.
Raewyn wrote an honest look at what we went through, and she captured it perfectly. And let me tell you, there is nothing like a launch to make you never want to launch ever again. It’s freaking exhausting. It’s hard work. And you’ll probably make (or made) the following mistakes (unless you read this post before you launch!).
Number One: You Tried To Manifest Something (Unsuccessfully)
Oh my god. What a horrible failure. Am I right? Entrepreneurs everywhere are all like, “Manifest this. Manifest that.”
So okay, what do I do? I just say that I want something and it magically appears right? Right.
Nope. Just kidding. Doesn’t actually happen that way. Not even freaking close. If you aren’t familiar with the concept of manifestation, it’s essentially just thinking a lot about what you want to happen, and putting some actions and intentions out into the world, and expecting them to happen.
Actual example: I listened to the podcasts. I wrote down all of our goals for the launch. The retention rates, the revenue gained during the webinar, the 3 month retention rate, the revenue to be earned by the end of the initial enrollment period.
Just put the stuff on the whiteboard, and let the whiteboard do the work.
Here’s the thing: manifestation actually takes a lot of practice. It’s not actually magic… It’s a dedicated practice of being open to opportunities and being a decisive action taker when those opportunities come knocking. Manifestation is the product of clarified goals, decisive action, and intentional communication with your ideal clients.
Which brings me to my next mistake.
Number Two: You Put the Revenue First
Oooo… biggg mistake here. Hey, don’t get me wrong. Money is great. Love having money. I really do. But when you focus on all of the oodles of money you are going to make you forget the most important part of being in business: the relationships you need to build.
That’s right, relationships top revenue every. single. time.
Actual example: I was so focused on earning money from our launch, I completely overlooked the critical relationship building portion. Sure, I started building relationships with our beta testers and our guest coaches. But I didn’t take the time to meet new people in Facebook groups or blogs or ANYTHING.
I just figured the people would come to me. Because basically Kevin Costner told me so…. “If you build it, they will come.”
Okay, okay. I know that wasn’t Kevin Costner’s line in A Field of Dreams, but seriously what gives?
Why wasn’t the entire internet flocking to our offering? We did everything right! We did LeadPages. We did the webinar. We did the Facebook ads.
Basically, we strategized so hard that we forgot the human aspect.
Oh shit, you’re telling me I need to actually talk to people? And meet new people? And not just expect them to throw money at me? Oh… Okay yeah that makes sense.
Why did I think that this was the case?
See Point 3.
Number Three: You Strategized The Shit Out Of Your Launch
Strategy. Strategy. Strategy. As entrepreneurs, we are told to strategize EVERYTHING. I mean, this is how companies like Digital Marketer earns literally ALL of their money. “Optimize your webinar strategy! Kick your blog strategy into high gear! Get Your Passive Income Strategy Rolling Like a Runaway Freight Train!”
Yeah. They do that. And you know they do. Because you probably opted into a webinar or an email campaign or a PDF that promised to tell you all the secrets but actually left a lot to the imagination but if you sign up RIGHT NOW you can get all of the ACTUAL information in this paid course that only tells you about 74% of what you need to know and you actually just learn the rest from trial and error.
Whew. Out of breath from that one.
Actual example: We literally strategized the shit out of our launch. We were all “Nurture Campaign!” and “Long Form Sales Page!” and “Webinar!” and “Facebook Ads!”
Number Four: You Spent Too Much on FB Ads
Ugghhhhhhh. Facebook. Such a delicate love-hate relationship I have with thee. Ever so frustrating.
Let me just say this right here, right now. Unless you have a significant list, say 400 or more, FB Ads really aren’t worth your time.
Actual example: We dropped a little less than $350 into Facebook ads. Without a single conversion to a paying customer.
Why did this happen? Because I’ve seen Facebook ads that have advertised the effectiveness of Facebook ads and since I’m an online marketer I trusted Facebook ads to manifest revenue through strategy (see what I did there?).
It didn’t happen. So not only did we spend about $350 on the actual campaigns, I dropped $597 into a Facebook Ads course that I STILL haven’t dug into.
Embarrassing. That’s $947 in wasted investments. Or is it a valuable learning experience?
No. It’s about a kilo worth of interest earning waste on my credit card.
I’m so burned out.
Number Five: You Burned Out
You pushed, and you pushed and you pushed. And you tried to maintain a sustainable practice of working every day to manifest revenue by following your strategy and hoping those Facebook ads paid off.
Do I even need to add an actual example here?
Speaking as someone who does not do well under continual pressure with minimal return on gratification for my hard work, I burned out hard. Real, real hard.
Burned out to the point of, “I need a time out. I’m putting myself in time out.”
I cancelled all of my coaching calls in a week, I told Allie and Raewyn to ban me from the FB group and Slack and the Member’s Portal and email. And they held me to it. Seriously I have the best business partners slash friends slash my everythings EVER.
That week was awesome. I needed it. And honestly? I’m still recovering. By the time this blog posts, it will be about 2 months since we launched. And I’ll probably be still recovering.
I’m in a better spot now that I know that the launch is over, and that we learned what we did.
And you know what? We’re already pivoting. It’s not that what we did wasn’t working. It’s that we found a better and more efficient method of offering our best services. That never would have happened if we didn’t make these mistakes.
These mistakes truly were a phenomenal learning experience. We learned a lot. And we’re making significant progress now that we are moving forward in our new direction.
What about you? Tell us about your launch experience! We’d love to know what worked for you. Let us know in the comments, or hit us up on Facebook. We’d love to have you in the Sanctuary, our free Facebook group.
Can’t wait to see you there.