I started my own “dream” business at the age of 30. I sank my life-savings into it, thinking that’s what everyone does for their dreams.
I spent 6 months working on the business plan - what could go wrong, right?
Except… the fact that the “business plan” was concocted entirely from researching online. Not on real customers research. And the only people I talked to were my friends whom I made guinea pigs - taste-testing my soups.
You know the rest of the story....
The location was terrible. While we gained media attention really fast and had customers travelling from all around Singapore to visit us... I was completely caught off guard, feeling burned out and unsure of how I'd pay my bills.
It was an incredibly tough time.
Now, before I dive back into my story, I want to ask you something: when I talk about wanting more in life, or experiencing setbacks and getting back up, what does that bring up for you?
Are you considering starting your own business? Finally going all-in on your existing business? Maybe you're just trying to escape a job you hate or achieve time flexibility where you can spend more time with your family. (Believe me, I've been there too!)
Whatever it is, I want you to know that looking back on that challenging season in my life, I can genuinely say it was one of the defining moments for me.
If you find yourself in a similar position, I thought I'd share the two things that made a world of difference for me. These might just be what you need as well. Here's what I did:
1. I created a contingency plan.
We've learned a lot over the past couple of years, especially how quickly things can change. When the unexpected happens and the rug gets pulled out from under you, it's crucial to have a plan you can rely on, no matter what.
For me, having a strong BRAND VALUE that our audience can get behind has always been that safety net.
When everything fell apart in that first location, I generated $72,000 in revenue in the first month, by moving the business into a simpler kiosk concept - with the same promise to provide wholesome soup made from scratch.
When the pandemic hit, MomBoss Academy was able to generate more than $280,000 in revenue for the same reason. At The Chill Mom and MomBoss Academy, we exists to help mums live a a purposeful & fulfilled motherhood.
Every time life throws a curveball—and it definitely will— our values and engaged audience has helped us stay afloat. You need to figure out what your equivalent is (honestly, it's probably your audience too) and develop a plan to grow that side project. It'll enable you to pivot swiftly when needed.
2. I embraced resourcefulness and consistency.
To me, nothing signals success more than being resourceful and consistent. If you can master those two qualities, you can truly achieve anything.
Once you've mapped out your contingency plan, it's up to you to put in the work now—not later—to make it an amazing option for you.
This means reaching out to new people to pitch your business, watching educational videos, building that lead magnet, making a new offer and showing up online every single day. It's the unglamorous tasks that truly move the needle.
So, here's my challenge for you this week: map out your contingency plan and commit to becoming incredibly resourceful and consistent.
I'm curious, does the idea of building an engaged audience resonate with you as a contingency plan option?
If it does, I have a few resources that will be incredibly valuable for you:
First off, I created a free content training that helps you map out a whole month of content in an hour. It has already been downloaded by hundreds of women, and they're crushing it on social media, seeing real results. Click here to access the training and experience it for yourself.
Secondly, I've put together a Masterclass called "How to Get More Leads". It covers everything you need to know about driving people from social media to your website, lead magnet, the tools you need and you'll discover why "traditional list-building" strategies DON’T WORK and just leave you spending months creating a bunch of free content no one ever sees, or worse, attracts leads that never invest with YOU or YOUR PRODUCT.
If you're a Momentum member, you can access the content for free here. If you're not a member yet, click here to join Momentum. It's only $57, and you'll gain access to a library of online training, monthly group coaching and our exclusive community. If you're considering growing your business, this is the perfect first step.
Alright, if there's one thing you take away from me sharing my story, it's this:
Entrepreneurship isn't easy. It's not all glitz and glamour, and it certainly isn't a highlight reel 99% of the time.
But here's the kicker: you have what it takes to succeed, regardless.
When I started my journey, I faced countless hurdles, and I continue to encounter them. Yet, I've managed to figure it out.
And I know you can too, no matter how uncertain it may feel right now.
I get it. Even the small steps I've outlined today might seem like a mountain of work. But trust me, you've got this, and I can't wait to witness all the amazing things you're going to achieve.
Hi, I'm Michelle Hon, the founder of MomBoss Academy.
I've discovered that building a $1,000,000 business is possible without taking investments and hustling all day long. I'm living proof that it can be done, and I want to help more moms achieve that for themselves and their families.
For my latest content, please fill in the form below.❤️