Episode 171: Show Notes
We are super excited to welcome our guest on today’s show and know you will love this episode! We talk to Lisa Robbin Young of Ark Entertainment Media about the idea of a six-figure business, something all entrepreneurs have thought about at least once. For many of us, Lisa included, six figures is a bottom line a business needs to reach in order to feel successful. Lisa also talks about how this does not have to be the case. There are in fact some instances where these standards do not apply, but realizing when is the key.
Lisa has a wealth of experience and expertise we cannot wait to share with you as we discuss different types of entrepreneurial styles and personalities and how they influence the way a business is run. We break down how to start translating those strengths into money and success as well as tactics such as freebies and promotions. We sure are grateful for Lisa’s know-how and know you will be too after this great episode. Get ready and let’s get into it!
The Meaning of Six Figures
The term “six-figure” may sometimes seem overused or overemphasized, but there is no denying its usefulness as a marker of success. For Lisa, six figures is almost a non-negotiable. It does depend on the lifestyle and needs of the particular business owner, but in general, those who want to have a profitable and growing business need to be heading towards that landmark. Lisa thinks if you hit the six-figure mark, it usually means you do not have to hustle on the hamster wheel constantly, and you get to enjoy some of that success you have worked so hard for, and we agree!
The ‘Enoughness’ Number
During our chat, Lisa stressed the importance of finding your own level of success and driving towards that. All businesses and their owners have initial struggles, but if your target is set at the right level, these struggles do not seem insurmountable. We all need to find a sustainable model that suits our needs and our constraints. The utility of the “six-figure business” is its benchmark status as a common target. Lisa offers the simple advice of getting inspired by your peers and those who have made the journey you are embarking upon. If they can do it so can you!
The Linear, Chaotic and Fusion Creative
Lisa explained the spectrum of entrepreneurial personalities to us and it was fun hearing how we fit into this! We are sure all of you will find some use in plotting yourself on this map. On one end is the chaotic type where everything is about ideas and expression. On the other end is the linear type which is those who are more drawn to the numbers and measurable aspects of the business. Now, you can find yourself anywhere along this spectrum, but realizing your type is so helpful in playing to your own strengths and bolstering your weaknesses. On Lisa’s website, there is a free quiz you can take to see where you fall on this spectrum.
The Cusp Type Entrepreneur
Cusp type entrepreneurs find themselves neither too creative or linear in their thinking. This can sometimes lead to difficulties in not feeling adequate in either field, but Lisa assures us this is its own type of strength. This ability to traverse both spheres of left and right brain thinking and translate the mentality of each is a gift in business! According to Lisa, there is some mobility in this continuum and we might move along more towards side over time.
Translating Your Type Into Success
For Lisa, the main goal is to take all of this info and translate it into success in your business. This means having what she calls a 360-degree business design! We agree with Lisa. You have to have all angles covered! Your business has to be close to your heart and for most creative entrepreneurs, their business is a part of them and they are a part of their business. Success comes when you relate your business model coherently with your needs and abilities. This attitude and pursuit can lead to finding success on your own terms. The ultimate goal!
Finding Your Message
A message we see over and over and like to repeat ourselves is that there is so much space, even in a crowded business world, for your unique ideas and approach. Even if it sometimes takes longer than expected, if you have that special idea and the commitment, chances are there is an audience out there waiting for your product or service. Utilizing self-belief and faith in your business sometimes means taking risks like increasing prices or hiring new team members. These actions can have huge payoffs if they are taken at the right time and if you know your ideas and your entrepreneurial style, you are all the more likely to be in sync!
The Role of Giving Away Freebies
The last thing we discussed with Lisa was giving away freebies or free services and how they can serve your business. This podcast, for instance, is something like a freebie to our community, but it serves our business very well even though we do not really make money from it directly. Lisa agrees a well strategized and time freebie can do wonders. Again, the idea here is the self-knowledge and wherewithal to decide and pull this off correctly.
- Lisa’s take on the real meaning of six figures. [0:03:41.2]
- What is your “enoughness” number? And how to decide what it is. [0:07:16.2]
- Difference between linear creatives and chaotic creatives. [0:20:47.1]
- What defines a cusp type creative entrepreneurs? [0:04:22.1]
- How to translate your natural talents and type into growth and money. [0:30:08.2]
- Finding your message and targeting the correct audience. [0:36:53.1]
- The role of giving away freebies along your way to six figures. [0:41:53.7]
Take the quiz!
Lean into the strengths of your type!
No product sells itself!