#100: Bold Choices for Online Leaders
There’s a shift happening in the online space and as a CEO putting yourself out there every day, you might have noticed it.
These shifts have turned into pretty unique challenges - and I’ve been hearing rumblings in the online space.
There's been a secret, underground conversation that's been happening amongst the high-level experts that I'm surrounded by, and even within our own community leadership team.
The truth is, we've never seen online leaders navigate the changes as quickly as they have in the last few years - and my guess, is that you've noticed it too..
Stay tuned to this 100th episode of the Scale with Joy podcast as I share this underground conversation and what I believe is going to be the spin off effect.
Check out my free training on www.yournextmillion.me, where several of my seven figure clients and colleagues share what they're doing to scale their businesses to the multi-million dollar mark and beyond.
Listen to the Show:
Laura (00:00)
There’s a shift happening in the online space and as a CEO putting yourself out there every day, you might have noticed it. These shifts have turned into pretty unique challenges - and I’ve been hearing rumblings of it. There's been a secret, underground conversation that's been happening amongst the high-level experts that I'm surrounded by, and within even our own community leadership team. The truth is, we've never seen online leaders navigating the changes as quickly as they have in the last few years - and my guess, is you’ve noticed it too.. Stay tuned to this episode of the Scale with Joy podcast as I share this underground conversation and what I believe is going to be the spin off effect.
In the last few years since starting this podcast - so much has changed in the online space. Not just in terms of competition and changing algorithms, and the types of external business factors that you would really expect in any fast moving environment. But, at the very heart of it, has the customer changed? More importantly, has the expectations of the customers changed?
My son Andrew has a basketball t-shirt that proclaims “check the stats” on it - so as a data driven marketer - I was curious - what are the most recent stats saying about online growth? eLearning statistics from Statista reveals that the global eLearning market is expected to grow over $240 Billion by 2022. $240 Billion! That’s no joke, friends. And while it’s a big chunk of change, these statistics do not come as a surprise since eLearning has experienced rapid growth in recent years. Furthermore, digital education and eLearning industries had a total value of $46 billion in 2016 and are expected to grow to $243 billion by 2022, according to research trends.
What this means is more people, more noise, and more opportunities.
So let’s dive in, because I’m going to share some of the biggest lessons I’ve learned from being behind the scenes of many 7 figure online businesses and how it could impact you.
Lesson one: Claiming Your “Known”
What do you want to be known for?
Cannot be known for more than one thing
What can you be the best, most unique at?
Cold traffic conversions are getting harder and harder to convert
Huge launch budgets are no longer viable
Continue to grow your warm audience every single day - where most of the budget should go year round so when you call them to action it’s profitable
60% or more of you budget should go to nurturing and educating your audience
Lesson two: Hater Management
This has been a growing trend in the online space
There are many times where you're receiving constructive feedback, and it's very helpful, and it's great insight, and it's useful information. But, more often than not, unfortunately more recently, it is filled with personal attacks, untrue statements, things that are just simply not true, even with concrete proof and evidence that they’ve been mis-informed. I helped you, way above and beyond what I had ever even agreed to. And now you're coming back at me with backstabbing, and toxicity, and negativity. It can feel like a drain on your energy, not allowing you to be in a place of creation and innovation, stifling the very creative flow you used to build the success you have reached so far.
When not if when you’re growing a company
People talking poorly about you and soliciting others to do the same
Haters don’t know that they are haters
Backlash against growth
What is in their best interest - take myself out of the equation
Leadership is not people pleasing to a bigger crowd
Remember that most of your customers have no idea that it’s happening
Type of person who operates this way is a follower, not a leader and will always operate from a place of scarcity
Where attention goes, money flows
This has been a lesson for many of my clients as well - story of telling a client to never acknowledge them when she was getting into the DMs. Expect this if you are growing something others will want. Take it as a sign of success and what you're doing is the right thing. Do not speak their name into existence - become the loudest, most positive voice about your mission and vision.
Lesson three: Great Expectations
On the flip side of this massive growth, the self-paced eLearning industry is expected to decrease to $33 billion by the end of 2021, according to the eLearning industry. Even though the eLearning market is growing, the self-paced court industry’s growth has
stalled and is projected to fall. It is expected to decrease to 33.5 billion dollars by 2021. Consumers want more help and assistance to ensure that they will not fail at the investment they have made. Strong offers that reduce risk for the consumer with a fabulous guarantee are likely to be required for any infoproducts.
So, yes - there’s a lot of change coming.
But if you’re aware and prepared for what’s to come, not only can you survive the changes, but you can thrive by leading the pack into the next iteration of online business.
So if you have a seven or multi-seven figure business that you’d like to grow by understanding the marketing & growth elements that are going to take you to the next level, make sure to subscribe to my list, where I release a cutting edge trends video every month - making sure you’re always tuned in to what you need to know to lead a team well and grow with intention.
The Scale with Joy podcast dives into the mindset and strategies of scaling your company to the million dollar mark and beyond. Each week, we follow the journeys of innovators, disruptors, experts and leaders - sharing behind the scenes stories of their most challenging moments and greatest lessons learned-all while building their multi-million dollar empires.