160: Why Solopreneurs Don’t Get to Seven Figures

Seven Figure Consultant with Jessica Fearnley

In this week’s episode of the Seven Figure Consultant Podcast, I’m talking about the unique challenges that women entrepreneurs face, including limiting beliefs and how they can hinder your business growth and keep you stuck in the low six figures.

I also talk about the benefits of having a supportive team, as well as the importance of seeking help and mentorship, sharing exciting details about my high-level group container for aspiring seven figure women consultants.

In this episode:

[00:01:12] The appeal and familiarity of struggle in business and the concept of "let it be easy."

[00:02:07] Differences between men and women in starting and growing businesses.

[00:04:01] Reasons for women escaping to entrepreneurship.

[00:07:55] Exploring the limiting belief of not wanting to hire a team in business and how it can hold you back.

[00:08:50] The rigid thinking around past experiences and assuming that a bad past experience will always repeat itself in the future.

[00:12:18] The value of being part of a business community, networking, and receiving support from others.

[00:17:14] Bonus Segment: Seven Figure Secrets - Advice from your future seven-figure self on acting on your intuition and not ignoring inner prompts or ideas.

Key Takeaways:

• Struggle in business is often seen as a rite of passage, a necessary step towards success. But it's important to remember that struggle doesn't define us. It's merely a part of the journey, not the destination.
• The independent nature of women entrepreneurs is both a strength and a challenge. On one hand, it fosters resilience and self-reliance. On the other, it can lead to being overlooked, judged, and criticized, and result in reluctance to seek help and mentorship.
• Being a solopreneur can feel safe and independent, but it can also limit business growth. Many solopreneurs get stuck in the low six figures and struggle to progress further.

Quotes:

“It's always this thing [with limiting beliefs] where it's like ‘give up now, don't even try, you can't have the thing that you want’. It makes sense why as women we fall into this trap from time to time, but great entrepreneurs, seven-figure consultants, get used to doubting our doubts and applying some flexibility to those brittle limiting beliefs.”

“The vast majority of solopreneurs don't get to seven figures. They get stuck in the low six figures, and they don't progress any further because it is hard to do business by yourself.”

“Surrounding yourself with the right people is a massively underratd way to explode your business overnight. One of the first strategies that I give to new clients is to go and have conversations. Because when you do this with the right strategic people, business growth happens fast.”

Useful Links

The Six Elements of a Seven Figure Business – Free Download

Get in touch with Jessica to discuss your consulting business Jessica’s LinkedIn