Sep 1 • 2021
It’s not every day that you meet someone who has built their own successful 7-figure business….In fact, most new businesses (an estimated 90%) fail within the first year.
So you might be asking: what sets that 10% of businesses apart? Why do so many fail, yet others succeed?
In the past seven years, I’ve started two 7-figure businesses — Broma Bakery in 2014, and Foodtography School in 2017.
I’ve definitely hit a few road bumps along the way, but there are also a few VERY important things I’ve learned about how to create and run an online business.
So today I’m putting together a shortlist of things that will not only make you stand out from the competition, but also are true north stars when making decisions for your own business.
You could say this is our secret sauce. 😉
It’s as simple as this:
– If you say you’re going to do something, do it.
– If you say you’re going to call, call.
– If you say you’re going to hit a deadline, hit the deadline.
Being consistent, trustworthy, and dependable will get you further than you think in business. If people know they can rely on you and take you at your word, they will trust you and want to work with you.
That, and holding yourself accountable instills a kind of perseverance that will lead to a much greater chance at success!
…and even if you don’t like donuts, you get the point.
When I started Broma Bakery, I made a conscious choice to focus on sweets and desserts. Over the years, people have asked me for a lot of different types of recipes: easy dinner recipes, vegan recipes, Whole 30 recipes – but that’s not my magic. And by expanding into those areas, I would dilute that magic.
After all, there are so many people doing great things in those areas. So unless you are a donut in human form, it’s far smarter to be an expert in one area than kind-of-sort-of skilled in many.
I used to think learning about business was a huge waste of time. I don’t want to learn about economics. I hate finance. And why do I need to know about supply and demand? Like, let me just be creative!!!
But learning about business has been PARAMOUNT in making the leap from 5 figures to 7 figures.
So if you feel like business isn’t your jam, that’s cool. It’s just going to be really hard to create a successful company without it.
You need to know how to target your existing audiences. You have to learn how to forecast profit and set quarterly goals. And you sure as heck need to have an airtight brand identity in order to appeal to brands and sponsors.
A few of my favorite business books? Zero to One. Tools of Titans. Principles. Outliers.
I truly believe that if you want to succeed, you have to strive to be the best. You have to manifest, you have to align your beliefs and actions, and you have to aim to achieve big, big goals.
If you live in this space of “maybe” — maybe one day I’ll make 6-figures… maybe one day I’ll have a team of 3, or 5, or 10… maybe I’ll photograph as well as her — you’re allowing mediocrity to enter your headspace.
And you’re not mediocre. You’re quite literally made of stardust. That’s EPIC. So internalize that power, then let it shine.
Diversify diversify DIVERSIFYYYY!
As an entrepreneur, you should never focus on a single revenue stream, or rely on only one source of income.
I’ve made this a pillar of both of my businesses. For example, with Broma Bakery, not only do I rely on sponsored post income, but I also work for high blog pageviews so we can collect a decent amount of ad money.
Along with that, I do occasional “internal” work for brands (like helping them with website photos), shoot cookbook covers, shoot in restaurants, do speaking engagements, and do sponsored travel.
Diversifying my income streams helps to round out Broma Baker’s offerings, making me a more attractive candidate to a variety of potential businesses and partners.
And with Foodtography School, we don’t just stop at courses. We’ve created smaller product offerings like templates and guides, presets, and website templates. And by doing so, we took our business from the high 6-figure to the 7-figure mark.
That’s all I got for you guys today. Now go out and crush it. <3