How I took my business from $60k to $300k in 12 months

In 2013, I had a really embarrassing experience at a bank trying to cash a check. So very embarrassing that it became a pivotal moment for me. I decided that I would never again be in a position that required me to beg the bank manager not to put a hold on my check so that I could cover the cost of my daughter’s daycare.

Never. Again.

And I did it.

That year, I took my business from $60k in revenue to $300k in less than 12 months.

I started my own business because I wanted to have freedom while also taking care of my family and helping people. Lawyers don’t typically get to spend regular quality time with their families and friends. The legal profession is infamous for requiring very long hours and the work never ends– weekends, holidays, sleep– all may be sacrificed.

I never wanted to play that game, which meant I had to build my business the smart way (not just with endless hours of labor).

Here are the steps I took to 5x my revenue in 2013:

  • Created a streamlined onboarding process. Did you know that having an onboarding process makes customers a lot more likely to buy from you again? Repeat customers = repeat cash! My onboarding process welcomed new clients in and anticipated their needs. It also included a solid, easy-to-read contract so that my customers were clear on what they were purchasing. A clear client service agreement means not wasting time, energy and money trying to resolve issues that should have been spelled out in your contract from the get go. I spent a ton of time in early 2013 setting up an onboarding process for all of my different services and it made good customer service easier to execute and led to lots of repeat business.
  • Hired a team. I know it seems counter-intuitive but the sooner you invest in hiring help the sooner you’ll increase your income. It’s really hard to build a business by yourself so hiring a team is essential. Because you’ll have two or more people working towards the same goal, instead of just one. Hiring an assistant in 2013 helped increase my revenue by making sure clients and potential clients received quick responses. Plus assistance with my marketing efforts and general business operations freed me up to do more of the work that brings in the dollars.
  • Created a digital product. Putting your IP to work for you is one of the best ways to increase revenue. Why? Because it enables you to make money when you are not working. For example, one of the things I did in 2013 that made the biggest difference was create my first piece of intellectual property, a product called Small Business Bodyguard. I put my knowledge of business law and experience working with entrepreneurs and put it into product form. Creating IP is just taking the stuff you know or create and putting it into a tangible form for other people to use. From July 2013 through December 2013, I made over $100,000 from Small Business Bodyguard. Less than four years later, Small Business Bodyguard has generated a million dollars in revenue for my business and continues to generate at least five figures every single month.

So these are the things that I did back in 2013 to increase my revenue. I share this story because I want you to see that it’s not some big sweeping, fancy marketing plan that makes a huge revenue difference. Sometimes it can. But for most of us, it’s just the little tweaks, the small steps that we consistently take to build our businesses that make a world of difference on the revenue front.

Want to create a digital product that will significantly increase your revenue, allow you to impact thousands and give you more free time? Stay tuned for a very special announcement on May 2nd. In the meantime, download my free workbook, 3 Steps to a Profitable Product with right here.
Not sure if creating a product is right for you? I have a brand new assessment coming your way this week that will allow you to figure out if creating a product is right for your business and market.

Annoying (but Required) Disclaimer: This blog is a resource guide for educational and informational purposes only and should not take the place of hiring an attorney. No information on this blog creates an attorney-client relationship between us. If you would like to hire an attorney, you can give us a call at (855) 803-4769 or request a strategy session.

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LEAVE A COMMENT | 3 Comments

  1. How much did you invest in mentoring and coaching during that time to achieve your goals. Whose mastermind or training programs were you in?

    1. Hi Jay,

      During this period I wasn’t in a mastermind or training program. In February 2011 I went to a business retreat called Lift Off hosted by Pam Slim and Charlie Gilkey. The people I met there became a part of my business community but it wasn’t a paid community after the retreat and there were no formal calls or events. In the summer of 2012 I worked with a business coach, Yvonne Bynoe, for several months. I had also become a member of the Young Entrepreneurs Council in September 2012 (it was a $400 per year membership community at the time). Those were the big investments in coaching and masterminds I had made up until that point and they were great investments.

      Hope that helps, Jay!

      xo,
      R

  2. Hi Rachel! You are faaaabulous 🙂
    I am brand new to all of this biz stuff, and techy is not my most flattering attribute.
    You mentioned hiring assistants… what type of knowledge should they have if they will be helping you with setting up all your stuff? Also, where is a good place to find one?
    Thanks !

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