One Thing Versus Multiple Streams of Income…
This is a long post. Grab something to sip on and get ready to learn several Golden Business Nuggets sprinkled all throughout this post.
One Thing Versus Multiple Streams of Income…
Why Just One Thing?
The ongoing debate for years and years has been about focusing on one thing versus establishing multiple streams of income through multiple opportunities.
Until six years ago I always focused on just one thing and that one thing produced results and grew.
Six years ago through my studies, reading books, courses, coaches, gurus, etc.; somewhere along the line, I bought into multiple streams of income through multiple business channels.
Part of it probably came from my childhood. My father had a remodeling and handyman business which had multiple divisions within the company. He was constantly expanding and adding new services and divisions within the company.
I’m going to mention five keywords again. “Multiple divisions within ONE company.”
So, first let’s state that multiple divisions in one company, is different than multiple companies bringing in multiple streams of income.
When I was running my business, Jon Kapity Guitar Academy, only providing guitar lessons for my students, things were growing fast continuously. At my peak, I was up to 50 students and charging anywhere from $50 to $75 an hour.
That’s in an area where the rates are typically half as much, because I live in a lower income area.
The power of focus and intention is incredible. The business grew year over year, but I reached the point where there’s only one of me, and I only had a few options. In order to grow, I either had to hire contractors to fulfill lessons, bringing in more students, or move to an online teaching program. I chose to move to an online program for the leverage and savings on overhead.
I didn’t want to deal with overhead, nor did I want to manage people, or open a teaching facility.
Now pay attention, because there are lessons here.
I was still operating within the same company, however, I was doing two very different things. I discovered that running an online business is not anything like running a physical brick n’ mortar business.
So while I was still working within the same company, it was almost as if I was running two different companies. There was so much I didn’t know and so much I had to learn. Every time I thought I had learned everything to manage an online business, there was 10 more steps I needed to learn to go live online with my training program.
So listen close here, lean in, now I’m giving lessons to 50 students which took me approximately 60 hours per week including lesson preparations, and on the side I’m building an online venture which takes another 30 to 40 hours a week.
Do the math on those hours. Ninety to one hundred hours per week! Yikes!
One of them had to start giving in order to reduce the number of hours I was working. Check out what happened.
I lost 18 students in March 2018 for various reasons, not bad teaching or service. Reasons like students moving out of town, students finishing high school, normal churn (drop off rate), and some really young students giving up due to difficulty.
At this point, I still had no online traction. I was still building the online program. I had three partners, two local, and one in Sweden. I was building out an online system and course, but there was no revenue coming in.
In Addition, revenue was dropping in Jon Kapity Guitar Academy. In the past, that wouldn’t have been a big deal. Why? Because I would’ve had marketing systems in place, Facebook ads running, I would have been connected to groups, and word-of-mouth momentum operating efficiently. All of those things were suffering on the back burner because I was building online systems.
Bottom line. I had stopped marketing Jon Kapity Guitar Academy.
Get this through your head right now. NEVER stop marketing! It can never stop. Marketing is the machine that drives the business. Marketing leads to sales which leads to success in business.
When you cut off marketing, you’ve cut the head off your business. So what did I do?
I painfully told all my partners that I had to stop pursuing the online venture, because I didn’t have the revenue to support it anymore.
Then I sat down to draw out on paper a new marketing system, that could eventually be automated. One that would work around the clock, 24/7 to protect my business. A fortress around my business, so that this never, ever, happened again.
Over the past 20 years I’ve run three of my own businesses and I was the VP of my fathers $2 million home maintenance and remodeling company.
When I sat back and looked at the marketing plan that I had established on paper in front of me, I was blown blown away. I thought, if only I had this back when I started my businesses. This plan is the key, it’s the answer. This plan will build a fortress of marketing protection around any small business.
I call these occasional moments in life, “the downloads.” Moments of wisdom that couldn’t have possibly come from my mind alone. I like to think of these moments as coming directly from God. That’s where my faith lies.
It’s like God uses your life experiences along with all the knowledge and wisdom you’ve accumulated up to this point, to give you the answers you had been seeking all at once, in a single download. I call this “the download.” All I have to do is to take a few minutes and write it all down.
Keep in mind what I am saying. I had spent the past 23 years studying Marketing, Sales, and small business, through books, videos, courses, hired coaches, programs, etc., before I received the download. You have to invest to receive. You have to take action to get results.
So I’m sitting there, staring at the page before me, a page that contains this brilliant marketing plan, and I’m thinking I have two choices.
One, I can go back and rebuild my Guitar Academy, grab another 18 students and get back on track again. With plan one, there’s no way to scale unless I get more students, instructors, and possibly a facility, which was not desirable to me. We know where the online road took me, so that didn’t feel like a good option either.
Or two, I could take this brilliant plan that was laid out before me, that was far superior to my own personal wisdom, and go help Christian Small Business Owners. I could help them to survive and thrive in their businesses. That’s the option I chose. That is when Perpetual Customer Growth was born.
I’d love to sit back and reminisce with you about all the great things that have happened since I launched Perpetual Customer Growth. All the success stories, how great things went when I launched, etc. Unfortunately, that’s not the journey this path led me on. So let’s talk about what really happened and gain some wisdom together.
I decided to keep what was left of Jon Kapity Guitar Academy as a part time business in order to keep revenue coming in. I believe I had around 28 students at the time.
With Perpetual Customer Growth, I decided to do both consulting and digital marketing, like building websites, social media plans, Google My Business enhancements, etc.
I had to launch on a shoestring budget, so the best avenue seemed to be networking. With networking, I could go to tons of networking events and meet up with business owners, set up meetings, and so forth. I believed, virtually for free. Maybe you’re smarter than me, but did you know how much it cost to do free networking (Lol)? I sure didn’t.
First, there’s your time, and time is priceless, because it cannot be replaced. Then, there’s travel, gas, and wear and tear on your vehicle. Typically the meet ups or networking events are at coffee shops or restaurants. So, typically, you have to support the local business that is hosting the meeting by buying something in order to attend the networking event, so there’s cost for drinks and/or food.
Then there’s the networking groups at hosted locations, namely Chambers of Commerce, that require you to have a chamber membership. Sometimes any Chamber Membership will do, it doesn’t necessarily have to be the one hosting the networking event.
Are you aware of how much it cost to be part of a chamber? Typically to be a part of just one Chamber is about $300/year. Now I knew, that if I really wanted to produce results from networking, I should probably be a part of five different chambers. That’s like $1500! That’s not so free anymore.
I settled on joining one, which was slightly over $300 I believe, and I started attending networking events. So many networking events…easily 3 to 5 per week. In addition, this wasn’t easy for me. I’m very much an introvert. It is not easy or natural for me to be an extrovert, go meet a bunch of people, and be a conversation starter. It’s just not my thing. So, now we can add the cost of antacids to the equation as well, lol.
I started noticing a funny thing upon examining all my hard efforts. Efforts I was sure would launch my business. Those efforts were not bringing in revenue. I was getting appointments. Those appointments always sounded promising. Ultimately though, at almost every appointment, the other business owner was also trying to sell me on their own services.
We would talk about partnering up in business, referring each other, etc.
I don’t believe I ever got one referral from all the networking relationships I had forged during that time. I discovered that people are out for themselves, to grow their own businesses, which I totally understand. Let’s be honest, that’s exactly what I was trying to do as well.
Also, what we typically don’t understand about networking, that we learn when we start doing it, is that you’re not going to find buyers at networking events.
It does vary depending on the type of business you own, along with your services and products…but typically you’re not going to find buyers attending networking events. You’re not going there to sell, you’re going there to build long term relationships that lead you to potential buyers down the road.
You’re investing all this money, into a dream, that maybe one day, you’ll build a relationship strong enough, with someone you met at a networking event, who will care enough about you, to take time out of their business, their personal life, their hobbies, and their interests, to actually remember you, think about you, think who could benefit from your services and/or products, and then refer you to a whole bunch of people, that might potentially have an interest in doing business with you (Yes, that was one ridiculously long run on sentence, in order to make a point).
Now, I’m not sure what the definition of stupid is…but that’s got to be pretty close.
My gut feeling, and my personal experience, of a little over one year of participating in this networking system, is that this is a long-term strategy. This is a three to five year investment minimum, to build the right relationships, that will lead you to the right connections, that may bring new revenue into your doors. When you’re running a bootstrap marketing campaign, you DO NOT have the money to invest in this model.
Now again, there are a few businesses that this model may be the best option. But the majority of us do not have the time or financial means to invest in this three to five year strategy. If you do not have a high ticket offer, I’m talking $3k-$50k offer, that converts well, or a low ticket offer that appeals to everyone (like coffee/food), than this is not the right marketing strategy for you. It wasn’t for me either, even with a higher ticket offer back then of $1500 and above.
In saying that, I can tell you that I pushed harder than most at the meetings and events I attended. And sure, I made a little bit of money, I closed a few deals, I made enough to just about recoup my investment costs. But that’s it.
The problem is that I’m married with four kids and simply recouping costs is not enough money. We needed thousands more to simply survive
So now I’m running Jon Kapity Guitar Academy part time, which is still 30 to 35 hours a week, and I’m running my new business Perpetual Customer Growth that isn’t producing beyond what I’m investing into it.
Along comes another deal, another business that looks like it could be the bridge from a low tier product, that would lead into the high ticket offers.
I thought I struck gold. So I bought in. I bought two territories and started a third business called Celebrate Community. I viewed it as the bridge to Perpetual Customer Growth.
You see, it was during this time that I had been listening to coaches, gurus, and consultants, about this multiple streams of income idea. How you should never give up something that is providing an income stream, in order to build something else for yourself. This idea that you need multiple streams of income, investments, multiple businesses, etc.
I bought into that idea. Now I was running three different businesses, and I thought I was going to rock them (make a lot of money).
Little did I know the storm that was coming trying to manage three different business ventures at once.
I wouldn’t recommend this plan to anyone, not to my friends, not to my family members, not even to my enemies, or competitors (well maybe my competitors ).
This is simply put, “A Bad Dumb Stupid Strategy.” I believe I may have just invented a new phrase. That’s what it is, it’s “A Bad Dumb Stupid Strategy.” ⇠
Do you know that there has been extensive research done on multitasking? Now, if we just had to make some stereo typical statements about multitasking, I would say hands-down, women are better at multitasking. There is something wired in their brains that fires quicker and faster that allows them to be able to pivot back-and-forth between tasks, at a significantly faster rate, typically, than men.
Did you hear what I said though
I didn’t say they were doing things at exactly the same time. I said that their mental fire power allowed them to pivot between things at a more rapid rate, providing the illusion that they were actually multitasking.
Did you know that the idea of multitasking came from computers? Multitasking is when a computer, that’s programmed by a singularly focused human, moves so fast between tasks that it has the appearance of multi-tasking.
What we call multitasking, is simply pivoting between things at a very rapid rate. This provides the illusion that the individual was multitasking. It is scientifically proven, that our minds can only focus on one thing at a time. So, when you multitask (or pivot between tasks at a rapid rate), you’re reducing the functioning power you could be operating with.
How is that? Because you’re pivoting so rapidly that you cannot possibly give 100% focus to what you’re doing at any given time.
Now listen up close, because your results are 100% dependent on 100% of your focus. Read that again…your results are 100% dependent on 100% of your focus.
If your results are 100% dependent on your focus, then what’s happening when you multitask? Correct, you’re not producing the results that you could be producing. This is what was happening to me as I focused on three different businesses simultaneously.
If you divide up 100% by three, that’s about 33.34%. Those are not good odds. Running a business takes 100% focus, and if I’m only giving 33.34% of my best, then that’s “A Bad Dumb Stupid Plan.”
At this point, I don’t even want to tell the rest of the story. At this point, I’ll give you tidbits. Students declined at Jon Kapity Guitar Academy. Why? Marketing wasn’t in place to recover the new business. That was on purpose, because I was beginning to phase out the business in order to focus more attention on Perpetual Customer Growth.
Celebrate Community just couldn’t take off. I’d sell a few clients here and there, but it’s a type of a product where you need 30 to 50 clients right out of the gate to really excel at the operation. So, without staff helping me, it just never got off the ground. While I was consumed trying to get Celebrate Community off the ground, less hours were being rationed to Perpetual Customer Growth.
Do you see the cycle?
Do you see the hamster wheel I was stuck in?
I hope you are learning something right now. This is a very important lesson for Small Business Owners.
This was all just “A Bad Dumb Stupid Mess.”
As I begin to realize the “Bad Dumb Stupid Mess,” I began to focus and turn my attention toward Perpetual Customer Growth. I knew that if I could find a way to eliminate the other businesses, and focus on just this one, that it would become successful.
As business owners, it’s so hard to let go. This was especially true for Jon Kapity Guitar Academy, eight years in the making. I’m well known in the community, I have lots of connections, and it’s music, a very personal skillset, which is very near and dear to my heart. Talk about one of the hardest decisions in my life.
What I chose to do with Jon Kapity Guitar Academy, is to stop marketing completely, and let fate happen, if you will.
A funny thing happens when you choose to direct your attention and focus towards the one thing that matters most. Revenues increase immediately.
I started immediately selling websites and consulting work as soon as my focus was in the right place. Unfortunately, damage was done, and there were repercussions from the way I was operating with three different businesses.
This is not the position you want to be in. Then, along comes the economy which actually gave me a little boost. I was forced to close down two of the businesses when Covid showed up, and the economy closed its doors.
That’ll direct you real quick. Now I only had one business to focus on, Perpetual Customer Growth.
The amount of change Perpetual Customer Growth has gone through, has been nothing short of phenomenal. We (I partnered up with another business owner named Keith) pivoted quickly and efficiently. This was made possible because of 100% focus.
We spent many hours reviewing clientele, who we were selling too, to really hone in on the target audience. We reviewed what we were selling, what the results were, and so forth, in order to improve everything rapidly.
We spent a couple months improving the entire system and our products.
Upon review, we noticed an underlying theme that kept presenting itself when clients buy information. Many don’t act on it, don’t implement it, and then they don’t get results. If they don’t get results, they’re not happy, and we don’t look good either.
Our system has been proven, it’s reliable, it has stood the test of time. We are not inventors of new information, you can view us as curators of information.
Thousands of hours and dollars invested in on our own coaches and consultants, piecing together a system that would provide a fortress of marketing protection for any small business.
Our system is the nuts and bolts of any business. These steps simply have to be done in order to build a truly successful business. All successful small business owners take these steps to achieve success.
I’m Going to take you back to something I said earlier about multiple streams of income. I said those streams needed to live within the business not without. They have to be aligned with the overarching goal and mission of the small business. One business, multiple marketing streams supporting the structure.
Just a side note. If you have staff, managers, vp’s, directors, sales personnel, etc. Running multiple businesses, real estate investments, opportunities, etc., can, and probably should, be done. This is not the picture of our target audience though So, I assume that most of you reading this are in a similar boat to our situation.
What you want to do is to create a system in your business that all works in synergy together, that will provide multiple sources of income and revenue coming into that one business.
When you learn to do this, as we have done, you will truly find traction and success in your business. This all goes back to focus…
One thing, One platform (media), One offer, One Audience, One year.
Keith and I have refined and refined and brought our business all the way down to one thing, one entry point.
If you can put your focus on one thing, one platform (media source), one audience, for one year…now you have something in place that can grow. Now you have 100% focus moving in the right direction.
As a Christian Small Business Owner and Entrepreneur, I can say from experience, this is the hardest thing I’ve ever had to do in my business life. If you are like me, you are a visionary and your mind can easily go 20 different directions at once seeing opportunities everywhere before you.
I want to share something that I’ve learned in this process. Just because you pick one thing, one platform (media source), and one audience to focus on, does not mean you’re confined to that one thing. It means you have chosen what you’re going to put 100% focus towards.
It’s like the gateway. The entry point for your clients and customers to come in and get to know you in order to build a relationship with them. Then you naturally lead them to more of your products and services that can provide solutions for them in their businesses, family, or their personal life.
I’m going to pull back the curtains and be open, sharing with you what that looks like for us in our business. We told you we would pull back the curtains for you in this community. So here’s what this looks like for us:
Our one thing is Perpetual Customer Growth Consulting Services. Our Facebook Group, Community Connections Customers, is the platform (media) we have chosen. Our Facebook Group is a free entry point for our future clients to enter our world, get to know us, and to learn the value of working with us.
How do we get people here? We took a former product that we charged roughly $10k for ($9467 to be exact) and we’ve chosen to give it to you for free in this group.
Our task was to create an irresistible offer that would motivate a Small Business Owner to enter our world. Your offer may not need to be this intense, it depends on your industry, products, audience, and so forth. We are in a tough and overpopulated market currently. Therefore we went with an extremely irresistible offer.
Our one audience is Christian Small Business Owners. Small Business Owners is too broad. We debated on going into different segments of small business owners, but when we looked at our past and who we sold most too, along with who our best clients were, the overwhelming majority were Christian Small Business Owners like ourselves. So that’s how we chose our target market.
We also looked deeper into our mission, our why. For us, it’s to reach people on the front lines for Christ, so they can develop a relationship with Him and God the Father. We were formerly operating in a one to one model. We started looking at the bigger picture and thought about the idea of leverage. How could we leverage our work to accomplish a greater mission on the frontlines.
For us, we decided to serve Christian Small Business Owners. They are operating on the front lines. If we could help Christian Small Business Owners, like yourself, survive and thrive on the frontlines, we would ultimately be serving more people on the frontlines through those businesses. Our mission would be fulfilled through our chosen audience.
The next step was to take everything we had done to this point and convert it towards the one thing and our one offer, attracting our best potential customers into our free Facebook Group “Community Connections Customers.”
By Giving away our free $10k course the “Revenue Accelerator Customer Attraction System,” we could lead them to the next step, our Live Coaching Membership Program, where we help them take action to implement our system into their business.
For all of you that have read through to this point (and for those of you that have skipped to this point, yes I see you), here’s the point of this entire post:
One thing, one platform (media), one offer, one audience, one year.
A mentor of mine gave me this formula a while back. His name is Barry Schimmel. He was right! One Thing, One Media, One Audience, One Year with 100% focus.
If you’re reading this and you haven’t joined our free Facebook Group “Community Connections Customers” then that’s your next step. You need to join our free group where you’ll get our $10k course the “Revenue Accelerator Customer Attraction System” for free, delivered bi-weekly via Facebook Lives.
Our Facebook Lives will begin Tuesday June 16, 2020 at NOON CST USA.The trainings will be about an hour in length. Replays will be in the Facebook Group Community Connections Customers.
→ For those of you that want more, we have developed a Live Coaching Membership Program for you. That was exactly what we were seeking and couldn’t find anywhere. You simply cannot get Live Coaching help from coaches or consultants for less than an investment of $3k, $5k, $10k, $25k, or more, until now. ⇠
Keith and I have determined to upset the industry.We’ve gone against all the advice from our coaches, consultants, and mentors. We are offering you Live Coaching for less than $3.25/day (as of June 15th, 2020, subject to change). Now that’s an investment any Small Business Owner can afford.
Even if you dreadfully had to put cable on hold for a few months to double the revenue in your business and get your hands on this Live Coaching Membership Program.
Just think about that. By simply canceling cable , you’ll be able to afford this program and probably pocket a bunch of cash along the way. Other ideas, you could cut back on a few coffees, few donuts , going out to eat once or twice a month , and then the cost of this program is completely covered.
We have removed all barriers in getting the help that you need.
Everything that could possibly hold you back. We have handed you what you’re looking for on a Silver Platter. We have provided our free program in our free Facebook Group “Community Connections Customers” and a very affordable Live Coaching Membership Program for less than $3.25/day (as of June 15th, 2020, subject to change).
Folks, it just doesn’t get any better than that. Don’t let this boat pass you bye. Step up, step out, join our Facebook Community now, and become a “Revenue Accelerator Member” today.
If you are excited, if you want this, if you want to be a Revenue Accelerator, then click here:
Change your life, change your business, get the results you want.
This is Jon and Keith,
We are here to serve Christian Small Business Owners just like you.