175 – Why You Might Need to Shift Your Business – Karen Yankovich

This week’s episode of Good Girls Get Rich is brought to you by Uplevel Media CEO and LinkedIn expert, Karen Yankovich. In this episode, Karen shares why you might need to shift your business and how you can do that.

The life of an entrepreneur is ever-changing, and changes come with constant shifts. Embrace the changes and shifts!

#GoodGirlsGetRich

We want to hear your thoughts on this episode! Leave us a message on Speakpipe or email us at info@karenyankovich.com.

About the Episode:

Sometimes, having to change and make shifts in your business can feel like failure, but it’s not! That’s just the life of a full-time entrepreneur. If something isn’t working or it’s time to make something better… shift! Here’s why and how you should shift:

  1. What makes your heart sing? What’s your big business plan? If what you’re doing doesn’t make you happy or isn’t achieving your goals, it’s time to make a shift.
  2. Lay out your path. When you lay out the path to success for your life and your business, think big! If you’re not thinking big, you’re not on the right path.
  3. Listen and learn. As you travel on the path you’ve set, listen and learn. What suggestions do your clients have? What is and isn’t working? Take everything into consideration so you can make good, educated shifts toward success.

Having to shift how you do things isn’t failure. It’s refining your path to success. Learn to embrace change, and you’ll be achieving your goals in no time!

Episode Spotlights:

  • Where to find everything for this week’s episode: karenyankovich.com/175
  • Introducing this episode’s topic (1:46)
  • What’s your big dream for your career? (5:24)
  • Lay out the path (7:30)
  • Listen and learn (11:25)
  • Episode recap (15:40)

Resources Mentioned in the Episode:

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Read the Transcript

Karen Yankovich 0:00
You’re listening to the good girls get rich podcast episode 175

Intro 0:06
Welcome to the good girls get rich podcast with your host, Karen Yankovich. This is where we embrace how good you are girl, stop being the best kept secret in town, learn how to use simple LinkedIn and social media strategies and make the big bucks.

Karen Yankovich 0:23
Hello, I’m Karen Yankovich. And this is Episode 175 of the good girls get rich podcast. And this podcast is brought to you by she’s linked up where we teach women simple relationship and heart based LinkedIn marketing, a system that gets them on the phone consistently and simply with people that can change their business, their life, and their bank accounts forever. We are creating wealthy women of influence here in our she’s linked up family, to all digital marketing, but with the human touch, right human to human marketing people buy from other people. So if you’ve listened before, or if you love what you hear today, you know, we love hearing from you. So please subscribe to the good girls get rich podcast, wherever you’re listening, leave us a review, if you’re feeling it, you know, I’d love for you to take a quick screenshot of this episode as you’re listening and share it on social media use the hashtag good girls get rich. Also tag me I’m at Karen Yankovich. And I’ll be sure to share your post with my audience. And then we both get more visibility right, lifting each other up. So what this is all about in the show notes, which you can check out at Karen Yankovich comm slash 175 there’s a link for speakpipe where you can leave us an audio message you can leave us a review or a suggestion for a guest or a suggestion for a topic. I love getting your messages. So you can check that out. I Karen Yankovich comm slash 175. So this this is a topic that I was talking about last week in my shoes linked up program. We were having a call I don’t remember what the conversation was about. But it seemed like a message that that you know, I think actually somebody in the program said this is a good podcast topic. I was like you know what you are? right it is. And what we were talking about was the need to be open to the shift in your business. Right. So if you’re a longtime listener, then you know a lot about my journey, right? Absolute roller coaster to success, right? Not a ladder, no straight ladder with lots of craziness. I wouldn’t give any of it up. But okay, the drama could I could live without some of the drama, but I you know, just a lot of craziness. I started out, you know, working for the phone company. And then I owned a small company that we were telecommunications consultants, right. And then I signed on one of my, when we sold that company, one of my clients hired me, it just it just was crazy, right? It was just crazy. And it just is I actually recently was driving through I went to when I went that was trying to say college is now the College of New Jersey. And I was in that area recently. So I drove around the college campus wondering like what 18 year old Karen would think of 60 year old Karen. And like nothing, none wouldn’t have predicted almost any of this right? Like wouldn’t have rejected any of it. It was actually a really cool experience, if you have the opportunity to do something like that. I highly, highly recommend it. It was really cool. It was a really cool experience. Anyway, definitely not anything I could have predicted. And the other thing that I think is important, as we talked about the story as we talk about the shifts in our business, and we’re focusing this mostly on entrepreneurs, right, but certainly it could be a paycheck as well. But as an entrepreneur, those shifts also sometimes shift your income. Right? So you know, I mean, if you guys I have a, you know, very supportive family, also very, you know, they have their pensions and paychecks and, you know, lots of great benefits, and they just don’t get when I’m like I don’t have I have to figure out health benefits, right? As an entrepreneur, so. So even as you’re shifting this while you’re having support, sometimes it’s from people that don’t really get what you’re doing and why you’re doing it. And it’s not wrong, right. It wasn’t wrong when I closed my business back, you know, in the cod in the 90s, I guess or maybe 2000. It was around 2000 wasn’t wrong, it was the thing to do at the time. It seemed crazy, right? But it was it wasn’t wrong. That’s what entrepreneurs do. Right? It’s, it was the season for that enterprise was what had come to an end. Right. So I needed to shift, I needed to shift. Can I continue to beat that dead horse? Right? Which is horrible. It’s a horrible analogy, right? As I say it. You know, I don’t know, I certainly wouldn’t be enjoying myself. I’m enjoying myself right now. Right? So can you relate to this? Can you can you find yourself like trying to defend even to yourself, sometimes, whatever it is you’re doing, or more importantly, when you’re seeing a need to shift, you know, maybe to the people in your life maybe to your spouse, maybe to your partner, maybe again even to yourself, like is it really it does this really make sense? You know, here’s the thing. Yes, yes, yes, you have to be focused, yes, you have to be focused. And also, you have to got, you got to be open to the shifts, you can do both, you can be focused, and be open to the shifts. Okay? If you weren’t sure about that, this is me telling you, you’ve got permission to stay focused, but also shift, you know, make some simple shifts, so that you’re on the path to success. So let’s talk a little bit about the steps I think that that I’d like you to make to kind of start to be to prepare your career, your business, your your life, for this journey of shifts, right. So the first thing that you need to do and this is the first thing that I do when I work with anybody, whether it’s privately or in marches linked up accelerator program, the first thing that happens, and this is maybe my favorite call of all of the calls that I get to do with people, and that is, what’s your big dream? What’s your big dream for your business? What’s your big dream for your career? What is it? And I want to know, like, what one thing is not a million things? Yes, you can have multiple streams of income, right? But in this particular case, I want you to be focused, right? So is it you know, if you’re a coach, is it a coaching client? What does that coaching client look like? How many How long? Do you work with that coaching client? What is it worth to you? Right? What is that opportunity? Is it a VIP day? Is it over six months? Like but again, I’m, I want you to dream big, like, I have a magic wand. Okay? This is not like how this is gonna happen. Just know that if you have, you know, maybe you’re coaching them on an island, right? I don’t care, whatever it is, I want you to dream big. So what is that big dream? What is that big? When, right? When you get a contract for that, you’re gonna be like, this is what I wanted, right? So I want to know, we have to know what that is first, so that we can reverse engineer everything so that you can get it right. And I want it to be something that makes your heart sing, right? Not that I’m you know, hiring 10 more people, even though I really don’t love having to manage 10 people, because then I can work less, that’s not what I want, I want, I want a big dream, a big win a big contract that you land that absolutely lights you up and make your heart sing. That’s the very first thing you need to do. As you create a business or a career or a life that is open to the shifts. First, we need to know what the path is right? versus we need to know what the path is. And now, now that we know what it is, we have to certain layout that path, right? We have to lay out that path. Okay? So now that let’s just say it’s a coaching client, and if you recognize yourself, I’m certainly not gonna use any names. But I spoke to someone the other day who is recently got our coaching certificate. And she was talking about having two calls of like a call every other week with our coaching clients. And she wanted 10 calls a week, total of 20 coaching clients, and it was I think, 20 $500. And first of all, it’s just not enough money, the math doesn’t work on that, right? The math doesn’t work on that. 20 $500 for six months, okay, so two or 20 $500 for six months times 10. That’s $25,000. That’s 50 that like, that’s the math doesn’t work on it. That’s just too many clients to get to 100k. Right. And 100k, you’ve all heard me say this a million times, is not enough money as an entrepreneur. You know, if that’s your big dream, you need help you need me to help you dream bigger. Right? So basically what I said to her that so even though you thought that that was your dream, the math doesn’t work the path to get from here to there. Like I don’t see it. I don’t see it working. So So we talked about things like what if, first of all, what if you doubled your prices and cut your number of clients in half? It’s not that, you know, you can still do to call every other week, but now instead of having to have 20 clients, that you’re trying to remember what the heck is going on with them, right? Because you want to be there to support them. You’re a coach for six months with them. You need to remember they’re on vacation, how old their kids are all that stuff, right? It’s hard to do that when you have 20 clients. Right? So what if 10 What have you had 10 clients, but that same amount of money? Right off the bat right now you’re like, does that feel more spacious and expansive? Right? That’s the first shift, right? You’ve got your coaching certificate, and you’re like, Alright, well, maybe you need to shift, right? Maybe you need to shift and and say I need to increase the investment. Because then I can, I can get to know them better. I know you’re a good coach, but you can be a better coach for 10 max clients and 20 max clients. I don’t anybody that thinks that’s not true. I want to I’d love to have this conversation on my podcast. So reach out to me and let’s, let’s do it. Let’s have that conversation here on the on the show. Here’s the other thing. People love the idea of fast success. So what if you front load that six month contract with a VIP day? So you’re like, Listen, we can take three months to get you from step a to step B or we can get you from step a to step B in month one, right with a VIP day and then we have six months behind it to really act This work right now, that path right now you’re talking about dream opportunities. I know you love your coaching clients, and by the way, insert whatever else you do, right? I know you love your coaching clients, imagine if you had had more opportunity to dive deep with them, right? Imagine if you added a retreat to this, right? Like, this is what I want you to do, I want you to lay out the path to get there. And I need you to check out and make sure the math works. And honestly, as an entrepreneur, that math needs to get you to at least a quarter million dollars a year. Because if it’s not getting you to that your dream is number one, your dream isn’t big enough. And number two, you’re paying out so much money in, you know, taxes and and all of your things that you buy, right zoom costs and all that stuff, right? It’s not, it’s not the same as when you had a paycheck where they paid for all that right, they the man paid for all that, you have to pay for all that. So if $100,000 it’s not enough, it’s just not enough. And again, we’re dreaming big here, right? If you’re like I am, I’m looking for people to dream big. Now, if you’re telling me that you have a full time job, you’re doing this on the side, that’s different. If you’re telling me you’re retired, and you want a couple clients to keep you keep yourself busy. I’m cool with that, too. But if you’re telling me that this is a full time gig for you, and you really want to be able to help your clients, whatever that looks like, the math has to work for it to be your big dream. Okay, so there’s already you’re starting to see where we might need to start, make some shifts, okay. And then the third thing here is, and this is the most important thing, as you do this work, you need to listen and learn as you move forward. And as you as you move forward, you need to be open to the shifts, you need to be open when somebody is saying something like maybe they would have been interested in a VIP day at the front end of that, because they would have had fast action, and then been able to move forward. Right, you need to be open to what people are saying. So that you can shift things. I’ll give you an example in my program, and my shoes linked up program. Initially, we it was more of a digital program. And one of the first things that I realized was people were getting stuck on the write your own profile piece. Here’s how you write your LinkedIn profile. And people were getting stuck. So I had, so I listened. I’m like, Where are people not like they weren’t getting past module two, right? Because nobody wants to write their own profile, they’re a great coach or yoga teacher or, you know, whatever it is that they do, right author, whatever, they’re not a writer necessarily is certainly not able to write about themselves. So I made a shift. And I said, Okay, we’re gonna start to write your book and write your profile for you. Now, what did that mean? It meant I had a higher profile writer, it meant I had to increase the investment. Right? It meant I had a shift on a bunch of different things. But here’s the thing, my students started to have faster success. So it was a win win win, right? I mean, I If you had told me 10 years ago, that I was going to even 10 years, even five years ago, maybe that I was going to have a LinkedIn program specifically focused on women that talked about things like your power, shocker, so that you’re stuck, you know, that you’re, you’re creating, you know, a brand, and you’re leaning into your solar plexus chakra, or that had a module, a video on every single module about mindset, so that you are thinking as big as your aspirations, right? That your body and your mind are in line with your aspirations. If you had told me I was going to do that with my strategy course, I would have said you were crazy that people wouldn’t didn’t want that. But guess what people did want that. And when I started doing it, when I started listening to what my people asked for, and pulled in what I’m what I’m passionate about, right? what I’m good at, Holy moly, is it more fun, it’s so much more fun, right is so much more fun to be able to build all that stuff in. Because I opened my mind. I listened and I learned what my students were looking for. And then I’m like, Alright, let’s try it. You know, if you’ve been listening to the show for years, you know that years ago, I had a front end membership program called the triple your best club. And I loved it. I loved the students. I missed the students to this day. But you know what, I had to let it go. I had to let it go. Because Because I was listening and learning. And it didn’t serve them the way I that I the way I was hoping it would serve them. It didn’t serve my business, which meant it didn’t serve me. Right. So I had to shift. So is that a failure? Maybe? Maybe, is it fail? I guess, right. I’m not doing it anymore. You know, but here’s the thing. It was absolutely the end of that season. So I had to shift, right? I had to have the confidence to shift to a new paradigm. Right? And a new paradigm that might have that meant that I needed to increase my prices right. That front end membership was a lot was was ridiculously inexpensive. And it did like again, it didn’t serve anybody. When people weren’t investing enough money. It was like throw away money, right? So I had to have confidence. To say, you know what, this is not, this is not working, this is not working. Right. So I had to listen and learn from what I was doing, and then shift. So could you talk about these shifts as mistakes? Can you talk about these shifts as failures? You absolutely can, right? I don’t particularly think that makes a difference. Right? Like, but but the point here is, is that you, I had a path, right, I had a path, I laid out that path and the path included that program, and then I listened. And I learned and I’m like, you know what, this isn’t working the way I thought it was gonna work. So I need to shift, right? It is okay, to do that it is okay to do that. So let’s recap this a little bit. First, you need to know what the big dream is, right. And the big dream is not necessarily, you know, I mean, yeah, if you’ve got a product or service, if you’ve got something that you want to serve corporations with that, you know, you’re looking for groups of 50 people, and it’s going to be $50,000. Like, that’s cool. Write that. And if you’re doing that a couple times a year, and that’s your big win. I love that, right? You kind of get but you got to get clear on what it is, you got to make sure it’s something that makes your heart sing. Because if you’re doing all this work, let’s make sure we’re doing something we love to do, right. And then once you know what that big dream is that big win is that contract that is going to make you jump up and down. Now you got to start to lay out the path to get there. Right. And you know, if the math doesn’t work to get you to at least $250,000 a year, if you’re an entrepreneur, and if you’re doing this full time, then you need to relook at it. You need to relook at the path is not going to work. Now, that’s where the first shifts might need to start happening. Right? If the math doesn’t work, that’s where you need to start making some shifts. And then the most important thing is to listen and learn, listen, and learn and be willing to make those shifts so that that ladder that you had aren’t here’s what I’m I laid it out in January, here’s what I’m gonna do it. And I do this, by the way, right? I laid out January. And here’s what I’m going to do. And here’s how many of this I’m going to get. And then something comes up and I’m like, Hmm, maybe I don’t want to do it like that. Maybe I want to do it like this. So you can be a little left of center, from that ladder that you built in January to get you to where you want to go right? As long as you recognize it. You acknowledge it, and then you’re open to the shift. Right? I mean, maybe it’s failing, but it’s failing forward. Right? It’s failing forward. And I honestly don’t even think it’s failing. I think it’s just, I think it’s just the life of an entrepreneur, right? I think it’s just the life of an entrepreneur. But here’s the thing, when you do this, you start to end up, you end up in the most amazing place that even exceeds your wildest dreams, because you were open to the shifts you open to the heart. What if I do this instead of that, right, the most amazing place, I had a team, we have a team meeting every Friday. And we had a team meeting this past Friday. And honestly, I just looked at the women on this call. And I was like, How lucky are Am I how lucky are all of us that are on this call, that I have this amazing, amazing group of people that work for me, amazing group of World Class coaches that helped my students in the program. And to be honest, what happens on every one of those Friday calls, is that at least one person says is taught we because what we do is we talk about where our students are in the program and what you know what’s going on. Right? That’s part of what we’re do every Friday, we connect on that. And at least one person every Friday says the people in this program are unbelievable. So not only do I have amazing people on my team, I have amazing, brilliant women in my program, in my business is in the most amazing place that I never could have dreamed of. Because I was open to the shifts. And I hope the Edit edit, tell me just tell you, it takes it takes courage. It takes a lot of courage to do this. But I hope you know that I’m here to support you. Right and that you have other people around to support you so that you can, you know kind of say all right, I got this I got this and I’m going to do this and this is going to be amazing and I am going to end up in a most amazing place that I couldn’t have even it even exceeded your wildest dreams. As you know if you’re looking for some support at she’s linked up in our she’s linked up family of services. We create wealthy women of influence. We have the most amazing women in our program. Last week you heard about Simone Craig who is just incredible, right and that her journey and all of the women in our programs journeys all started with our on demand masterclass. Okay, I believe that LinkedIn is your money tree, and we you can join the masterclass at what are that money tree.com check out the masterclass. We’re not selling you anything on that. If you think there’s a fit to work with us. There’s an opportunity to book a call at the end of that masterclass to just chat about what it would look like for you, right To start to make the shifts in your business so that you can be on your journey to having your life and your business in the most amazing place that you couldn’t even imagine in your dreams. Right? Because you were you had the courage to get started. I am here with this free masterclass with this podcast, with lots of you know, amazing content for you to help lift you up to support you. I would love for you to support me, right, a rising tide lifts all boats, let’s lift each other up, help me help you share this podcast, take a quick screenshot of his episode on your phone, share that on social media so that I can share it with my audience. And we all get more visibility. And we all start to just, you know, finish 2021 with just strength, confidence and joy and ease, right? And really build a life and a business that that we’ve really been dreaming of. It can be simple. I’m here to support you and I will see you back here again next week with another episode of the good girls get rich podcast.