In this post I am going to give you an insight into my business in 2015 and give you my 2015 review – what I learnt and how I nearly tripled my revenue.
Financial Goals & Results
Goal for 2015
Actual 2015 Revenue
$430k (yep that’s nearly triple last year’s revenue!)
Overview of 2015:
When I started 2015 I had recently rebranded from Reverie Coaching to a personal brand at Kathrynhocking.com.
I knew I was ready for more having had a couple of quieter years being pregnant and having my second daughter Ashley.
Travel was very high on my dream board as I had not been overseas in over 7 years! In the end I travelled to Fiji, Canada and Mexico and domestically to Melbourne, Sydney and Palm Cove (Cairns).
I’d been going after a six-figure launch for e-Course Launch Formula all of 2014 and I was determined to make it a reality in 2015.
I’d also created and enrolled a new high level program the Ultimate e-Course Mastermind but still had to create content for monthly modules and 3 live events.
I also decided that I wanted to rebrand and ultimately restructure and rewrite the e-Course Launch Formula.
In July we also incorporated as a Company and officially brought my husband on as a Director and Shareholder.
2015 Theme Word
The extended vision was to “shine on a global stage”. This manifested in a variety of ways including being featured on the platforms of great entrepreneurs such as Natalie MacNeil, Denise Duffield-Thomas and Nathalie Lussier as well as features in places such as Inspired Coach Magazine.
- Flying business class twice internationally
- Masterminding with my peeps in Tulum Mexico
- Running my mastermind retreat in beautiful Palm Cove
- Incorporating as a Company and bringing on my husband as a director
- Being Shortlisted for the Women in Innovation Technology Award and winning the Conquer Award for a Beautiful Launch
- Having a six-figure launch and then over doubling it 8 months later
- Releasing my beautiful new e-Course Launch Formula brand into the world
- At the stage I am at in my business and my life it is crazy-making to work on more than one big project at a time. Creating all the content for the Mastermind as well as totally rebranding and rewriting my flagship program in the same year was pretty insane at times.
- I need to look after myself as my business’s biggest asset – I suffered from Adrenal Fatigue in early 2015 and gained weight due to working too much and letting my health slide.
- Everything happens for a reason – even if you can’t see it in the moment – not getting something you think you want is just opening space for more and better things.
- You have to create your dream business not try and emulate someone else’s. You need to stop and listen to your own heart and soul and create a life that is based on your deepest desires rather than feeling you need to compete with others.
- I can be an amazing e-Course mentor and mastermind coach without taking on the energy of those I serve – I had to learn to manage my own energy and not let my desire to serve my clients deplete this personal energy.
- I now run a ‘company’ rather than having created myself a ‘job’. I can’t grow this company in the way I want to without bringing on support to run my company and learning to trust others to shine as part of my company.
Busting through blocks
- A lot of my blocks related to hiring my community manager and allowing someone else to shine and support me so that I can continue to grow my business. I had to learn to trust her to support my community and to let her support me in the sales support during the launch. I learnt that there are certain things I excel in (and some that I do not) and to trust others to take these over.
- I realised that to continue to grow my business I need to free up space and time to work on the strategic projects and outsource a lot of tasks and responsibilities that I have previously done myself.
- I truly believe that having a six-figure and then multiple six-figure launch was about believing that I could do it. That I was good enough and that my program was good enough. That I was ‘that sort’ of entrepreneur. The further along in business I go the more I open up to a feeling of inevitability of my success and it doesn’t feel so out of reach anymore. That said there is always an upper limit that I am pushing up against – it doesn’t really ever go away.
My “Team” in 2015
The people I work with on a day-to-day basis to run my business and programs are:
- Community Manager
- Tech Support Manager
- Customer Service Manager & Personal Assistant
- Event Manager
- Graphic Designer
The people I worked with on a project basis during the year were:
- FB ads Manager
- Remarketing Specialist
- Trademarks Specialist
- Web designer
Success Secrets in 2015
How did I nearly triple my revenue?
Here’s what I think the secrets to my success were!
- Becoming the CEO of my company and that meant building a solid team and systems
- Hiring a community manager and continuing to increase the role of my technical support and customer service manager – these two roles are critical to my company going forward.
- Bringing back a previous virtual assistant to become my personal assistant and being disciplined with delegating work to her that I should not be doing
- Outsourcing to quality providers that I can trust to deliver such a web designer, graphic designer, copywriter and FB Ads Manager, Remarketing specialist and an event manager.
- Setting up systems to manage my company better such as a central email allocation system (Zendesk), task management system (Asana) and operations manual using Google Docs.
- Working with my accountant to structure my business for longer term growth and then planning for that growth through budgets, cash flow analysis, forecasts and tax planning.
- Finally finding an excellent book-keeper and letting go of financial tasks
- Building strong relationships with other amazing entrepreneurs over time – these don’t happen overnight.
- When I felt overwhelmed (which I regularly did) brain-dumping everything that needed to be done, assigning a due date and then sorting by date to identify the next most important task. Just focusing on 1-3 things every day that I needed to get done as well as a few higher-level goals each week.
- Trusting in my vision and investing tens of thousands of dollars in my flagship program even when it felt scary and money was getting low between launches.
- Stepping outside of my comfort zone whether that was flying halfway across the world to film with Natalie MacNeil or reaching out to people I highly respect to be affiliates.
- Working with a kinesiologist to help me bust through blocks and upper limits and also to learn to manage my own energy and not take on too many energetic ties of others. When you have over 500 people you are directly serving it can be easy to become drained by energetic ties that you allow in.
- Finding local staff who want to be my employee rather than a service provider under their own business. The nature of my work attracts other entrepreneurs rather than employees. This is fine for many of my needs but as you grow you ultimately need some employees dedicated to your business.
- Managing cash flow in a launch based business that I am continually reinvesting into – this is a big focus for 2016 with mature forecasting and cash flow practices.
- Disconnecting from work and having set work hours
- Balancing business and travel with my role as a wife and mum
- Not taking on too much when by nature I am a driven entrepreneur with lots of ideas!
- As an empath not taking on others energy at the expense of my own
Month by Month
Travelled overseas with my family for the first time for a digital detox holiday in Fiji (pure bliss!). Ran my first mastermind workshop and had the beginnings of adrenal fatigue but didn’t realise it.
Purchased a new car knowing that the business was solid enough to support the upgrade!
Moved my office from a tiny room to the 2nd largest bedroom in our house and completely renovated it into a beautiful space to work from. Hired a Community Manager Ursh who lives around the corner from me!
Finalised the new branding and design for the revamped e-Course Launch Formula Program (detailed blog on this process coming soon!).
Travelled to Canada to work with Natalie MacNeil and was interviewed for She Takes on the World TV and also took part in her Conquer Camp event.
Travelled to Palm Cove to run my mastermind retreat where Denise Duffield-Thomas popped in to meet the girls and we had other awesome live presenters.
I also incorporated as a Company with my husband as a co-director (moving from a sole trader).
Travelled to Mexico to speak at Natalie MacNeil’s Conquer Retreat and to Mastermind with my mastermind buddies.
Spent the next 11 weeks running the e-Course Launch Formula to my biggest group yet!
Ran the final mastermind workshop, was shortlisted for the Women in Innovation (Technology) award.
Decided to postpone my Mastermind enrolment until January as it has been a big year!
Had a Christmas dinner with the Adelaide contingent of the e-Course Launch Formula, won the Beautiful Launch Award in the Conquer Awards and started to wind down for a well-deserved break but not before restructuring my team and bringing on some awesome new support for 2016!
Looking towards 2016:
Ease & Leverage
To allow 2016 to be full of ease and to leverage the amazing business foundation that I have built.
- $750k+ revenue ($1mil stretch goal)
- $500k launch for e-Course Launch Formula
- Support 15 people in the Ultimate e-Course Mastermind to reach new heights in their e-Course business
- Create a new passive product (to be announced later this year!)
- Further build my team and structure for growth to 7-figures
So what is my focus in 2016?
2016 is all about ease for me.
Stepping more fully into my role of CEO, paying myself a six figure salary (including retirement payments for the first time since quitting my job!), building my team and leveraging the strong foundations that I have built so that I can enjoy the benefits of my lifestyle business.
There will be a new creative business project because that is so important to me but I have decided to not put any strict timeframes on it and let it be created with creative and flowing energy rather than be driven by deadlines and stress.
I have not planned any overseas travel at this stage as my oldest daughter starts school for the first time and I also want to focus on some health and wellness goals in the first half of the year.
I am working with one of the world’s leading business coaches in her exclusive workshop for 7-figure entrepreneurs (or those tracking towards 7-figures) in March in Sydney. I’m hoping to join her amazing Mastermind later in the year!
I’m hoping there is an exciting overseas trip that emerges later in the year perhaps a health retreat or major entrepreneur conference – I’m leaving “space” for this to manifest and I’m open to being surprised!
In 2016 you can expect to see me
– running my second intake of the Ultimate e-Course Mastermind
– creating a new evergreen (purchase anytime) product
– returning to weekly blogs and newsletters (from February)
– creating a monthly free downloadable resource to help you on your e-Course and launching journey!
– enrolling the e-Course Launch Formula just once (mid-year)
– building my team even further to help support me deliver these projects at the highest level of quality and brand awesomeness
– and who knows what else the year holds!