When it comes to entrepreneurship, where you are now or where you’ll end up a few years from now, is rarely where you started. As you launch your business and as you continue to grow, you may find that you have a deeper understanding of your audience, of your purpose and the mission that you want your brand to be known for. And often with that, making a pivot in your business is required.
The problem with that is, many entrepreneurs are afraid to take the leap. You’ve probably gotten into a comfortable spot in your business and your day to day tasks. So jumping into new territory is terrifying! But in many cases, in order to get to where you want to be, you can’t stay the same.
That’s one of the realizations that I have come to over the past few months within our business. More specifically, the business model. Living Over Existing today is not what it was 3 years ago when I sort of just launched. And I say sort of because it was never supposed to be a brand beyond the book that I wrote.
So if you’ve been thinking about pivoting your business model or you feel like you’re going backwards because you are making a huge shift, I wanted to take you down memory lane and share how our business model has changed over the past few years, how we got to where we are today and where we’re headed.
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When We Launched
When I decided to really go all in with LOE I knew that it would be geared towards helping women entrepreneurs. That was always a given. And I knew that I did not want to go back into one on one coaching as that’s what led to my burnout. So I had the grand idea of creating a bunch of smaller courses and selling them for like $50. I looked to companies like Creative Live and Brit & Co and saw how they were able to leverage that type of business model. I knew it would be accessible to my audience and wouldn’t take too much time to develop.
The problem that I ran into was, scale. To scale those small one off workshops into the million dollar company that I wanted to build would take forever and I felt it would suck me dry with having to market different types of workshops.
So I made my first pivot.
Running A Tech Company
Then I had the idea to possibly get LOE funded. I knew that if I wanted to somewhat stick to this idea of providing my audience with these smaller products, then I would need some money to pour into marketing and hiring to get it up and running fairly quickly. So I decided to first launch our crowdfunding campaign which after a month of hustling to share it and cold emailing everybody I could think, failed miserably. Not to mention I had also found out that I was pregnant and extremely exhausted.
So then I thought I would dive into the world of raising money from venture capitalists. I applied to some local funds here in Raleigh and did a ton of research. And after being denied for a few and talking to people who had their companies funded, I realized that I really didnt want to give a piece of my company away just for someone to cut me check and still be able to tell me what to do.
At this point I felt very stuck. I knew who I wanted to help and I knew that I could use my years of business coaching experience to help them see a transformation in their own brands but it just wasnt clicking for how it should come together.
The next pivot I made was scrap that whole Idea. It wasn’t coming together and honestly i felt as if i were settling. So I decided to take a step back and think about what I really wanted out of this brand and also listen to what my audience was saying that they needed. The number one concern that came up was community and accountability. My audience is at the point where the resources are great but what they really wanted was to make sure that they were doing the work and also have access to other women to bounce ideas off of.
I had heard of a membership community several times before but it never really dawned on me that I could literally use my expertise as a business coach, take all of my courses that I already had created and get together women from my free Facebook community, to build a space that women could go to not only learn how to build their own business but also get the accountability, mentor access and community they really needed.
And by far it has been the best decision I have made for the company. It allows me to do what I love and coach and mentor women but it also allows me to build a space for other women entrepreneurs to thrive and also learn how to build their business with intention.
But something still didnt feel right.
With our community, The LOE Collective turning one this month, I’ve been in a deep reflective mode over the past couple of months. While things have been going great, I still felt the urge to dig deeper. I almost felt like I was only scraping the surface. So again I went back and did some digging. I went back through old client testimonials, I went back over 5 years in my old blog posts and I thought about what specific piece of entrepreneurship sparks joy for me.
And with that I realized that I really love helping service based entrepreneurs. I really love the process of building a package and creating that process and customer experience. While Im good at a lot of pieces of building a business, I feel like im really operating in my zone of genius when it comes to helping service based women entrepreneurs. Thats the goal. To build a company around what i know how to do flawlessly. Also, since building a business with intention is the core of the Living Over Existing brand I wanted to take that and really show service based entrepreneurs how they can run their business and take on their clients without burnout or feeling like they are sacrificing their desired life in order to build a successful company. Which is a huge part of my own personal journey because I allowed that to lead to my own burnout.
So my next pivot is shifting the focus of The LOE Collective from helping all entrepreneurs to specifically a membership community and mastermind helping service based entrepreneurs who want to package up their knowledge and take on clients with less stress and more intention. And I feel so aligned ya’ll that I don’t know why i didn’t think about this shift before.
But thats the thing about pivoting. Often you have to get in, do the work, experiment and try stuff out before you land on your big ah-ha moment. If I hadn’t been willing to make those shifts, I wouldn’t have landed on this incredible business model that we have now.
Has it been scary? ABSOLUTELY!! There has never been a shift or pivot that I have made where I havnt’t been literally terrified. But you have to do it scared. Again, you cant get to where you want to go by staying the same. I was afraid that by shifting I would turn off my current members, I was afraid to focus on service based entrepreneurs because it felt like everybody and their mama was focused on service based entrepreneurs. And I was mostly afraid that this would just be an overall bad idea and I would destroy what I have built over the past year. But i feel good about the shift and i feel confident that its really going to help my members and clients get results and thats what matters most.
So if you’re looking to pivot or shift in your business here is what I want you to focus on:
- Trusting the process
- Dig deeper until you feel that you are operating in your zone of genius
- Then LEAP!
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