READ BEFORE CONTINUING:
Okay, two things:
This is for you if you’re making $5k/month and want to break that plateau to scale. If you’re just starting out, I’ve got other resources that might be more helpful.
I’m getting real and vulnerable here. It takes courage to pull back the curtain, so read with an open mind. Respect that, please. Thank you.
1. People think you’re a millionaire… but they forget about overhead.
There’s a big difference between bringing in a million in cash and actually having a net worth of a million dollars. I’m close, but let’s talk overhead. When you hit that 7-figure year, know what you’re in for.
In my circles, coaching businesses are anywhere from 45% to 60% profitable. Of course, it varies by business model and industry. Sure, there’s that one guy making $750k/month with one VA, but that’s not the norm.
On the other hand, some folks have way too much overhead because they’ve thrown people at a problem instead of building proper systems. So yeah, overhead’s a thing. Just because you hit 7-figures doesn’t mean you’re a millionaire… although you’re on your way.
2. Taxes are a bitch.
There’s no way around it—you’ll be paying more in taxes.
My advice? Find a good tax strategist to help sort that out.
I dragged my feet on this and ended up paying way more than I should have because I didn’t have the proper structure in place.
Here in the U.S. (and probably elsewhere, let’s be real), taxes get talked about a lot, often in the context of the wealthy not paying their share.
Case in point: I paid more in federal income taxes this year than Jeff Bezos did in 2017. Yup, you read that right.
When you make more, you’ll pay more taxes—a lot more. So, get prepared.
3. You feel insanely guilty sometimes. It’s close to “survivor’s guilt.”
Let’s be real. The narrative around money can feel very anti-capitalist.
And, at heart, I’m a people pleaser, so sometimes I feel weird about making good money.
It’s not something I’m fully ready to dive into yet, but here’s what I do know:
It’s okay to start a business to be profitable. Wealth creation isn’t inherently wrong.
Money is a neutral tool that can be used for good or evil.
Good people should make good money.
I’m not a therapist—I show people how I made $100k months in business. But just know, this guilt comes up, and it’s something we work through.
4. You stop worrying about money so much.
You buy things, and you rarely look at prices anymore.
Unless it’s a large purchase, I don’t check the price. Writing that feels weird… maybe even irresponsible. But I wanted to give you a real insight, not just fluff.
When I go into a store, I look at different things now. Is it quality? Do I love it? Will I love it in 5 years? If the answer is yes, I get it.
It’s surreal to just put things in my cart and check out. A few years ago, that wasn’t the case. I didn’t grow up with a silver spoon, so this shift is surreal.
5. You’re debt-free…
if you want to be. Or you choose to leverage other people’s money to make more.
Either way, I have new choices now that I didn’t always have. I paid off a lot of debt when I first started making good money, but now I see debt differently.
My friend talks a lot about using money as leverage to make more. The choice is yours, but that’s the whole point—you have more choices around money now.
6. It’s incredibly uncomfortable to talk about online—especially if family and friends follow you.
Oh my goodness, it’s so weird talking about this stuff online, isn’t it?
It gets way weirder when you start discussing income. Some friends and family are chill; others get super weird. But at the end of the day, it’s okay. It doesn’t really matter in the grand scheme of your WHY.
The women in my world need me to show up, talk about money, and talk about my business. No one prepared me for the random weird comments, but now you’re warned. You’re welcome. 😉
7. You realize you’re part of the 1.7%.
Can I tell you a story? My team and I got curious about how much of my work was “Marketingscaleurs-only” work. We tracked everything I did for a month. It turned out only 4 hours were things only I could do.
If I wanted, I could work 4 hours a month and be done. But I work a lot more because I want more women to know how to do what I did.
Of all businesses that hit $1M in annual revenue, only 1.7% are women-owned. I’m proud and angry at the same time that the number isn’t higher.
I’m proud of what I’ve done to get here, conscious of the advantages I had, immensely grateful, and deeply driven to show other women how to have this life… if they want it.
That’s why I created the $7 course of getting sh*t done!
If you’re ready for this transformation, get it now!
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