Founder and CEO of Sigrun GmbH – Sigrun
Sigrun Gudjonsdottir is a mastermind enterprise coach, TEDx speaker and host of the Sigrun Show.
Regardless of having zero business background or schooling she turned a CEO of a software program company shortly after ending her master’s degree in architecture. 10 years and another three master’s degrees and a number of other CEO roles later, she found herself in Switzerland together with her new love however sick and unemployable.
Her dream was to be location unbiased so she might reside in two nations, journey the world, and deal with her health. So in 2014, Sigrun began her online enterprise and 4 years later she’s built a a number of 7 determine way of life enterprise and has helped ladies everywhere in the world to build their way of life enterprise.
- The way to speed up gender equality via female entrepreneurship
- The BIG catalyst that made her business from zero to six figures in a yr
- What is the line between giving worth and over-delivering
- The best way to change out of your first to your zone of genius area of interest
Connect with Sigrun:
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Video Transcription offered by GMR Transcription Providers.
Jaime: Welcome to Eventual Millionaire. I am Jaime Masters, and I’m so excited to have Sigrun on the show at the moment. You will discover her at sigrun.com. She’s been the CEO of multiple corporations beforehand, before she even began her enterprise, plus she has a number of MBAs, and she or he grew her business from zero to over $1 million in lower than four years. Thanks a lot for coming on the show at present.
Sigrun: Thank you for having me. It’s a pleasure.
Jaime: Nicely, one of the things I completely liked is that you’re on a mission to speed up gender equality by means of feminine entrepreneurship. It’s so arduous to seek out females for this show. You haven’t any concept – nicely, perhaps you do. You’re a podcaster also, right? Why is that such a hardcore mission for you?
Sigrun: Nicely, truly, it is easier to help men, and if I needed to have life straightforward and my business straightforward, I might be teaching solely males, however that’s not what I was put on this earth to do. I noticed quite early that I’m referred to as to help ladies. For some purpose, we now have much less confidence. We’ve been introduced as much as be good, and behave, and never take risks, and that is haunting us for the rest of our lives. So, just one.7 %, truly, make more than $1 million a yr – feminine entrepreneurs – so, I’m on a mission – like your self – hopefully to vary that.
Jaime: That’s superb. So, what I might love to listen to is your story, then. How did you go – especially because you have been profitable before, however then had a hiccup whenever you moved. Tell me a bit bit about your story.
Sigrun: Nicely, I moved to Germany at 20 years previous to review structure, considering that art and science was my dream – mixture of both – and it’s a implausible research, however I noticed towards the top of my studies that it was not the job that I needed. I was in a small architecture firm. They paid me salary late. I noticed that if I really needed to be this successful architect that I admired from the books, I had to stay someplace outdoors Iceland.
I additionally saw solely men be really well-known and successful, and yeah, then there was the internet that got here alongside – so, that is many moons ago. I’m a bit bit older. I simply was more fascinated. It sounded extra thrilling. It sounded extra accessible. What I’ve realized much later – ladies have an enormous probability building businesses on the web, much more easier than in other industries.
So, I moved over to the web. I completed my structure research, so I truly am a licensed architect, and I began to review pc science on the aspect and started to work in a software company in Iceland. Only two years later, I discovered myself in a small software company after truly dropping my job in the dotcom growth, when everyone had to let individuals go – everybody was over-investing. Individuals have been burning money like crazy, and I used to be a type of individuals let go.
Jaime: Wow, so that you lived by way of that, the whole craziness. What yr was that? 2000-something?
Sigrun: 2000, yeah. And, that’s once I misplaced my job for the primary time, and it was a shock, but I took a very lucky determination. Proper round that time, there was a course provided for ladies only to study tips on how to write a marketing strategy, so I had no enterprise schooling, diploma, or expertise, but I did this course, I discovered how you can do a marketing strategy, I brought the marketing strategy to a small software program firm, and made them rent me based mostly on the business plan.
I used to be too scared to start out a enterprise. This is again in 2002. I was identical to, “Ooh, I’ve no money to start out a enterprise. I want the security internet.” And, you realize that most people truly start a business of their 40s, and I feel that’s sensible as a result of then you might have collected experiences.
Jaime: Right? Make all the errors early in another person’s firm.
Sigrun: Make them in any person else’s company, yeah. It was a smart move once I look again, but I also didn’t have a business concept. And, I began to work in this small software program company, and a yr later, I come to work, and I hear that the company has been bought. And, not immediately that day, however a couple of days later, I received the crazy idea that I might turn into a CEO, and still, no enterprise diploma and no enterprise schooling, however widespread sense to enterprise, I might say. My mother and father had a dry cleaning since I was 10 years previous, so I saw a number of things, I noticed how they run a business, however yeah, still, I wouldn’t say necessarily I had this enterprise acumen or knew that I might be a businessperson.
However, I felt very snug in the small software program company. I felt like one of many nicest locations I’ve ever labored – for another person – and I simply stated, “I wanna stay right here, however I don’t need a new boss.” And, I did what it took and received the job, and that modified my life utterly. I noticed that I discovered my zone of genius. It wasn’t architecture, it wasn’t pc science, it was building companies, and my first job was to show round. So, truly, if shit hits the fan and financial system goes down, truly, that’s not dangerous for me as a result of I contemplate myself as a turnaround professional.
Jaime: You’re like, “Been there, achieved that. I’m good at that.” Survivor.
Sigrun: Yeah, I know I’m good at it. You look beneath every stone, and you discover stuff, particularly if you go into other individuals’s companies. You just look, and one can find methods to flip the business round, and yes, you’ll have to let individuals go, but it’s a must to minimize so deep that it bleeds, is my advice for anybody who must go to a turnaround ever.
Jaime: I like it. It’s hardcore. Your identify means “Valkyrie.” I seemed it up because I assumed it was such a tremendous identify, so now, I get it. “Minimize so deep it bleeds.”
Sigrun: You’re looking for the Viking life.
Jaime: Which is troublesome, although, especially if it’s your – I feel the attachment of being the CEO and the enterprise proprietor is tough typically because it’s not identical to I’m doing what I have to do. It’s like, “It’s my child. I can’t minimize deep.” How can we cope with that when the CEO and enterprise proprietor are one and the identical?
Sigrun: Properly, yeah, clearly, it was easier to return – but, I had been working for the corporate for an entire yr, so I felt prefer it was mine, and nonetheless, it was onerous to let individuals go that have been type of my buddies, and all of the sudden, I was the boss of people who have been my colleagues earlier than, however yeah, it’s onerous. Just this morning, I had to let somebody go.
Jaime: That sucks. Let’s speak about that for a second because I work with a number of business house owners, and we speak about this, and I’ll even have them name me proper earlier than as a result of it is likely one of the worst things – even if the employee sucked horribly dangerous, it still sucks so dangerous. So, what advice do you’ve for individuals in that state of affairs proper now?
Sigrun: See it as a chance for each of you to grow. I also didn’t sleep so nicely final night time. I don’t do it that easily, and I have in all probability fired 30 or 40 individuals in the last 15 years, so I wouldn’t say I do this day-after-day, however I in all probability have carried out it more typically than most individuals that I know, and nonetheless, the night time earlier than once I know I’m firing someone that has been on the workforce, I really feel they’re doing an okay job, but they’re obviously not in the appropriate position. Yeah, still, I didn’t sleep that nicely, but once I’ve carried out it, I’m so relieved, and I really feel the aid of the other individual as properly, and I exploit it as a coaching opportunity. I really take the time. I don’t go proper in and say, “You’re fired.” I don’t even use that phrase.
I speak about, “How do you are feeling in your position? Do you assume issues are going properly?” I exploit it as a chance. If they say, “Oh, I feel the whole lot is sweet,” I’m like, “Nicely, that’s not likely how I see it, so here’s my perspective on it and here’s what I see occurring,” and we agreed that if it’s not a fit –spherical peg into sq. gap, that’s simply not a fit, and we agreed after 45 minutes’ speak that it was greatest that this employee would go away. So, yeah, you are able to do it in a nice approach, and sometimes, I keep truly related to most people that I fired. They’re my Fb associates still in the present day.
Jaime: Ditto – properly, for some of them, for positive. It’s so funny to me – when a enterprise owner seems at what they should do, they all the time take a look at the worst – “I used to be holding them up. I used to be supporting every part.” Properly, they’re people, they usually can care for themselves additionally. So, we put a lot on them.
Now, don’t get me flawed, essential to care about our staff, but the truth that you will have a heart and don’t need to do it both, however you already know they’re gonna be higher off either method – I would like whoever I’m working with to concentrate on that half. Your employee that you simply’re firing will in all probability be happier in some other position later that is truly a greater match, and you’re doing them a disservice by not placing them in the suitable position and truly enjoying their lives too, as a result of they will in all probability really feel that awkwardness of being in an unfitting position, such as you have been saying. After 45 minutes, you’re like, “Okay, that’s great.”
Sigrun: I made it much more exciting to discover a new job for her.
Jaime: See? That is good. That’s what I would like everybody to think about. That’s an excellent factor, not a nasty factor. It still sucks, don’t get me incorrect, but nonetheless, it makes everyone completely satisfied in the long run, particularly the business proprietor.
So, tell me somewhat bit about your story and how you went, “Okay, now, I’m going to be the CEO of my own company.” As a result of 4 years to $1 million is what everyone listening to this show is like, “Please, inform me how you probably did that.” So, are you able to stroll us by means of what that was like?
Sigrun: So, I feel I have to go back to the time where I used to be the CEO of a software company, and after a turnaround, I grew it 40 % every year. We had 20 % EBITDA. It was going rather well. House owners have been completely satisfied. I didn’t own a share or something, however they paid for my MBA later, once I requested for it. There, I noticed I hadn’t began to assume, “What if it was really my enterprise? Would I run a business like this?”
And, the downside was that every time I needed to make more income for the business, I had to rent extra programmers. Sooner or later, there was one % unemployment price in Iceland. What occurs in a single % unemployment price – the banks steal the programmers from you. A small software company doesn’t have a chance to pay the salaries. And, just at that peak, I referred to as up my boss – the owner of the business – I stated, “You sell now. This is the height. I’m not gonna make any extra worth.” And, I had doubled the worth of the business in three years, so everyone was comfortable, however I was like, “I don’t wanna run a business like that.”
Now, perhaps I just planted the seed in my very own head because I wasn’t even considering of beginning the business, but when the time got here, I used to be like, “It needs to be scalable. It needs to be scalable with out adding” – sure, in fact, we now have to build our staff and develop our group as we scale our enterprise, but not that I want one additional individual to make another $100,00zero.00 or no matter it is. It can’t be that sort of scalability. It needs to be exponential, and that was really essential to me. So, I assume I had that in thoughts once I started, and I began out of necessity. I had lost my job twice in two years. I used to be then in Switzerland. I had met the love of my life at Tony Robbins in London in 2008 –
Jaime: Oh, really? That’s funny.
Sigrun: There was an empty seat. I sat down, and I was sitting next to a person and his mother, and later, he turned my husband. My entire love story is on my website should you wanna examine it. So, principally, I received sick from one of the jobs I had. I was working in a medical know-how company, and there have been no conferences. I didn’t need to run round. As a CEO, I used to be operating round and driving to conferences, and even in one of the jobs that I had, we had a three-story constructing, and my CEO workplace was on the highest. I hated that, truly. I needed to take a seat down with the salespeople.
But, I never felt that my physique was in any pain from my job, however all of the sudden, I felt it there – in 2009-10, I felt this thing – your shoulder gets cramped, and I’d get pinching ear ache, and also you begin to feel your hand due to using the mouse – I started to really feel all these pains as a result of I wasn’t properly. I wasn’t shifting much, but in addition, the job didn’t require me to stand up and even speak to anybody.
So, I used to be sick for seven months. I developed something referred to as repetitive strain damage, which I nonetheless have an indication of right now, however I can work 100 % right now, and I cope with it in ways that I just – I do exercise and things like that. However, I noticed I couldn’t go back to work for someone because this repetitive strain damage required me to go recurrently to physio, exit for a day by day stroll in the midst of the day, and I was like – I started to imagine the horror of sitting in an workplace.
In Switzerland, they have a tendency to work lengthy hours, and I was like, “Wow.” I might work 9 hours a day, not have the ability to go for a walk. This was simply the worst. It might even find yourself that I might by no means work once more. Repetitive pressure damage can go that dangerous, that you’re actually disabled. So, I imagined these horror tales, and the one means for me is to now start my enterprise, and I just didn’t know what it was.
Jaime: Isn’t that unhappy, although, that we’d like a catalyst that crazy so as truly go, “Let’s do it”? Because I get you. I had a kid. I was advised to give up my job I don’t know how many occasions. I used to be like, “But, you don’t understand. I have medical insurance.” After which, I had a kid, and I was like, “Oh, I can’t travel.” Now, something outdoors myself made me do it, which was sad that I couldn’t do it alone, just in my very own opinion going again, nevertheless it’s fascinating that you simply needed something “outdoors of your self” to actually offer you that push.
Sigrun: I feel we typically want ache, whether it’s about losing a few pounds, or having a wholesome way of life, or lastly starting that dream business. Typically, it needs to be some painful thing that occurs to us – or for us, let’s say.
Jaime: I really like that too. I simply really feel like, “Man, if I simply received method better at taking note of science earlier than it gets” – I’m very pain-tolerant, so it gets like this earlier than I determine, so I’m making an attempt to reduce the ache tolerance that I have, in order that method, I truly make the choices I know in my heart I wanna make beforehand as a result of there’s these things that we do want the surface pain, because it does make a difference in the long run. But yes, go forward.
Sigrun: Yeah. So, it took me ceaselessly to get began. I used to be overthinking the enterprise concept, and I used to be in all probability – I lost 12-18 months worrying about what my enterprise concept is.
Jaime: Thanks for saying that. Everyone needs to hear that. Thanks.
Sigrun: Yeah, it was not like, “Ooh, I just knew it all.” I used to be avoiding the “enterprise coach” label just like the pest. I didn’t need it. I was like, “No, I’m gonna write books, I’m gonna be a photographer,” anything. I was taking all new hobbies. I’ve all the time beloved to write down. I’m a critical interest photographer. I’ve put it on somewhat break the current years, however yeah, I can take pretty good footage – and get paid for it.
And, I used to be taking a look at all of the issues I might do, and it was like the elephant within the room. “You’re a enterprise coach. You’ve been a CEO for 10 years.” I had been employed to put in writing enterprise plans for startups. It was all there, and I was simply avoiding it, avoiding it, avoiding it. I’m like, “No, no, no!”
And, one thing happened – there was – any person advised me about accountability course that any person was doing, and I just signed up, and I saw – I didn’t even actually take part within the course, but my eyes type of – “Oh! Yes! I acquired it! I might help individuals take action. I’m an action-taker. Although I’ve been in limbo for 18 months, I understand how to take action. I’ve all the time taken motion.”
So, I started to check little things out with simply entrepreneurial associates. We name it “beta testing” at the moment. I even did these challenges and stuff, but all beneath the radar, not publicly. The first time I dared to do something publicly – this is in March 2014 – I noticed that my own wrestle was a enterprise concept in disguise. My first online course I created was “How one can Find Your True Ardour and the Proper Enterprise Concept in 30 Days.”
And, that’s – I posted it in a couple of teams, decided to run it like a problem for seven days. 100 thirty-four individuals signed up. I might say about 30 or 40 have been lively within the group. I obtained superb testimonials. I overwhelmed them slightly bit because I anticipated them to figure this out in seven days, so now, the course is 30 days and never seven days. I don’t really sell it right now. It’s a bonus to my huge program, however it was the beginning –
Jaime: Was it paid again then, though? 100 thirty-four individuals – was it paid or not paid the primary time?
Sigrun: No, it was free.
Jaime: Okay, good.
Sigrun: But, I was such a newbie in online business that I didn’t have an upsell afterwards. I delivered this superb value, and then I used to be like, “Oh, I didn’t assume this by way of.” I was so targeted on creating the content as – I used to be simply getting ready the content all the time for the subsequent day, and I didn’t have anything deliberate afterwards, and it seems like such a failure wanting back, however I’ve a narrative to tell on a podcast, in order that’s cool.
Jaime: Precisely. Learning! There we go.
Sigrun: Learning. After which, I was toward – and then, I started to do one thing sensible in the midst of the yr. I was like – I used to be selling single periods, I obtained slightly consulting contract on the aspect, so I used to be incomes a couple of thousand, but not much. I began to do weekly webinars in July 2014, and I did weekly webinars for – until I had achieved 100, and this massively constructed my listing. I discovered to do Facebook advertisements. I was adding 100-200 individuals to my listing every time I did a webinar.
So, by September, simply after a couple of weeks, I had about 1,500 individuals on my listing, and I started to ask myself, “Why am I not earning extra money?” I was actually round – even in August, I had $800.00 revenue. I used to be like, “What’s happening here?” And, in fact, I wasn’t asking for the sale.
Jaime: What’s – okay, there we go.
Sigrun: I wasn’t launching anything. I wasn’t doing the issues I must be doing, and I was like, “What’s happening with me?” So, here I was, with my decade of CEO experience, MBA from a top-rated business faculty, and I used to be struggling to figure out find out how to promote one thing. This is what happens if you transfer from corporate to your personal business, is just – it’s because it’s your personal identify on the road. It’s very arduous to shift, and I see this with most girls, discovering it very arduous to start out.
After you’ve cracked the code, it becomes like consuming water, however I couldn’t – I used to be also preventing this idea that I ought to be capable of remedy this own my own. With my business experience and schooling, why do I want someone’s assist? Properly, I wanted someone’s assist, clearly. I employed a coach for six weeks, and just that – just paying, up entrance, the $5,000.00 I paid, and that felt like a lot a refund then – I acquired an e mail the identical day from someone asking me for coaching, and I’m like, “Significantly?”
And so, I really consider that once you spend money on your self, that you’ve a return. That is the change of power, and also you may even want the coaching itself – in fact, that’s good too, nevertheless it was like, “That’s not the issue here.” I simply needed to truly show the world that I’m critical about my enterprise and be prepared to spend money on myself.
So, that resulted in me making $55,00zero.00 in three months after making virtually nothing – nicely, I made about $20,00zero.00 the nine months before, so this was an entire shift. I managed to – from my first sale in March 2014 till March subsequent yr, I made six figures. It was just round – within 12 months from the primary sale to $100,000.00, and that felt like a tremendous milestone. Now, I’m making $100,000.00 – I anticipate that in a day or –let’s say in every week.
Jaime: Isn’t that funny how you modify? However, I feel that’s what’s so superb. I wanna dive deeper into that, though. What was the catalyst? What do you assume modified in you – not to mention putting the cash down, as a result of I know putting that cash down and the skin in the recreation makes a distinction; you simply degree your self up. However, what have been you truly doing? Did you just ask for the sale more? Have been you doing extra webinars? Inform me what the techniques have been that the coach truly ended up having you do this made – as a result of zero to six – properly, about zero to six figures in a yr is what a lot of people listening want to do anyway. So, what was that huge catalyst? Oh, we’re again. Okay, sorry.
Jaime: So, I used to be asking what – so, go internet connection. Hopefully, we’re cool now, but – Is it coming by means of okay for you? It’s simply saying “poor connection” on my aspect.
Sigrun: Yeah, it’s a bit of bit poor connection. Is it my aspect or your aspect?
Jaime: Good query. I feel we’re good now.
Jaime: Fingers crossed – or, are we simply sluggish? Nicely, we’ll decide it up from there, simply cut up it together, and all can be nicely. So, I was asking what’s that principal catalyst for those occasions for you?
Sigrun: So, I was doing this webinar, however I wasn’t making a suggestion. I was simply educating, educating, educating. Wanting again now, I was overdelivering, so individuals felt full after each webinar, so there was no cause, even, to succeed in out for me and ask for coaching.
The man that asked me for the coaching – that was the primary e mail I obtained – hadn’t watched any of my webinars. The webinar individuals have been like, “Hey, that is nice! Sigrun is giving me all this info totally free. I don’t need anything.” So, it was additionally the shift of, “Okay, I have to tease them into something that’s coming versus giving them all the things that I feel they need to find out about a certain matter.” I used to be very a lot in a educating place as an alternative of giving them the overview and making them understand that there’s rather more to study. I feel that’s an enormous mistake most individuals are making with webinars. They’re just educating an excessive amount of.
Jaime: Nicely, that’s the thing. They need to overdeliver as a result of they’re like, “Oh, we wanna interact them, we wanna overdeliver,” however typically, you’re doing them a disservice additionally. The place is that line, though? As a result of it does make a difference.
Sigrun: Yeah. It’s not about using the 60 minutes to teach, train, train, it’s about splitting it up into what’s my background story, why I’m the individual to show you this, listed here are my 4 rules or three errors, or giving them the overview, but realizing that there’s extra to study.
If you train every thing you realize a few matter in 60 minutes, you overwhelm your audience. They assume they could be even unqualified to do that as a result of you’ve got overwhelmed them, or they feel like, “That’s great. Now, I know every thing.” They don’t understand in that moment that there is more to study since you didn’t tell them.
Jaime: Yeah, you’re making the hole. “Oh, wait, but you’re not gonna do that on your own, or you want extra of this info,” and that approach, the sale is so much easier. So, you got really refined at doing webinars, then.
Sigrun: Yes. I obtained excellent at webinars, and I lastly discovered to do a webinar that really sells. The one challenge was that I used to be really eager to create another on-line course, and I needed to create a course on all the launch tech as a result of my webinars happen around that. I noticed later that’s not what I needed to be recognized for as a result of I’m a business strategist, but you make those mistakes in your first yr of enterprise. You turn into recognized for the fallacious factor or another thing that you simply don’t really need to be recognized for, but anyway, I wasn’t –
Jaime: Properly, let’s speak about that. I feel that’s really necessary because the fact that you picked one thing and it wasn’t exactly aligned – inform me somewhat bit about that. I really feel like individuals do this on a regular basis, however they’re afraid to even go down that path enough, so even nicheing is tough at the start, right? They’re like, “Oh, I don’t know,” or if they do area of interest, they’re afraid that they will’t back up and do one thing else, and you’re generally known as a business strategist, so how did you do it? How did you go from tech and change it round once you knew it wasn’t the best thing?
Sigrun: Properly, I feel I had a wakeup name. I went to a convention in Might 2015, and I’m walking by means of the reception, and there’s a lady who comes, “Oh, you’re Sigrun!” Lots of people start to know me because they go to my webinars. I’m going to a convention in Dallas, Texas, and someone is aware of me from my webinars. I assumed, “Oh, that’s cool. She is aware of me.” But then, she stated, “Sigrun, we are the same. We do the identical factor.” I’m like, “Oh, no.”
That was my large wakeup name. I feel I had started to understand before that I could be on the fallacious monitor doing so much tech and how-to versus mindset and strategy, and going back to my CEO and educating that, but assembly this lady and her telling me we do the identical thing and we’re the same, I’m considering, “No, we’re not” in my head. That was really helpful. So, thanks to the lady. I don’t know her identify anymore.
Jaime: I adore it, although, that that interplay whenever you’re like, “Oh, whoops! Fallacious monitor. Okay, her here” – proper? Big to be able to have that insight. That’s superior. Sorry, proceed on the story. I feel this is awesome.
Sigrun: So, I did this launch webinar. I employed this enterprise coach for six weeks to assist me with getting out of my own head, making the gross sales, and she or he was adamant about me doing one-on-one. She stated, “Sigrun, you’re a first-year enterprise. You need to be selling one-on-one.” I used to be like, “No, I need to sell my on-line course, and I’m gonna create a brand new online course.” In fact, I didn’t create it, but we created a gross sales web page, I knew what I used to be gonna train, I used to be gonna take the subjects of my webinars, it was all laid out. One individual bought it.
Jaime: I really like these tales. Sorry, proceed.
Sigrun: I felt like an entire failure. I had invested the $5,000.00. One individual bought it from a webinar of 600 registrants. How dangerous is that? And, I refunded the individual, and the business coach stated, “Okay, should we do one-on-one now?” I’m like, “Okay, let’s do it.” So, she helped me write emails to get them on a discovery call.
I sent out e-mail, and we opened up a couple of more spots. Principally, 90 individuals booked, and for the subsequent three weeks, I used to be doing calls again to again every single day. I keep in mind taking over the first calls – I used to be even in the automotive as a result of we had booked it so tight. I was within the automotive, driving somewhere in Switzerland, and other people have been shopping for, and I used to be on the telephone, making an attempt to write down down their identify and every little thing, how they might switch the cash to me. They needed to work with me. They have been so keen. I was absolutely booked for the subsequent six months.
Jaime: Wow. See, that’s superior, but I really like how you’re strong-headed and also you’re like, “No, I’m gonna do it my approach! Okay, we’re gonna do what you recommended.” Don’t you’re keen on that as a coach now, being that individual that provides that recommendation? “Oh, okay. Let’s see how that works for you. Go ahead. Have enjoyable. The lesson can be extra legitimate if you feel the one sale. It hurts, all right.” But, all of us should go through that stuff, and I don’t assume that you would be where you have been for those who didn’t go through that first, because then, once you in all probability did the subsequent launch, it was in all probability a much totally different thing. So, tell me about how you got into the courses then, after all the one-on-ones.
Sigrun: So, I began to do one-on-one, and then I used to be all the time considering back to that have of being a CEO, not with the ability to scale the corporate as a lot as I needed, I by no means needed to be in an identical state of affairs myself, so I was like, “Okay, one-on-one shouldn’t be so scalable.” Sure, you possibly can increase your worth, and I worked more hours, however I noticed having 10 shoppers directly was sufficient for me. I also wanted to spend time continuing with the weekly webinars and other things like that.
So, mid-2015, I’ve been doing one-on-one coaching for a few yr. I stated, “It’s time for a gaggle teaching.” I had carried out little attempts – one Facebook publish and one e mail – and no one had signed up, and I’m like, “Okay, I do know this isn’t the best way to launch. You truly have to create more buzz, do some seeding, and then make your supply, and never simply do one publish and hope for the most effective.”
So, I was on holiday in July, driving alongside the south coast of Iceland, and I was like, “I have to get this group program out there.” So, within the evening, I’m writing to my assistant, which I had employed the yr before, and we just scrambled collectively a easy gross sales page, and I emailed it out, and I bought a gaggle coaching program inside a couple of days, and not using a webinar or anything, simply with seeding and talking about it – what’s the identify of the program, is anybody launching in the next three to six months – talking about issues like that.
And then, I had my first group teaching program make $18,00zero.00 – yeah, it was $1,500.00 occasions 12 individuals – and I actually felt I was onto something. Individuals didn’t wanna start till the first of September though, so I might promote in July, however in Europe, individuals don’t love to do programs in the midst of the summer time.
But, I assumed, “I’m onto something,” so I went straight forward and bought a four-week program in August, I bought another group program for October/November/December, and I was simply on this monitor to sell group packages, and then we come to 2016, and I have my first $74,000.00 launch from group packages alone.
Jaime: That’s awesome. How did you start scaling that? So, it was a four-week program, and how massive was your listing whenever you launched that? I really like understanding the precise numbers, when you keep in mind again then, and how did you get to the $74,00zero.00? Since you train individuals launching, so that you in all probability obtained actually good at it additionally as you have been going via.
Sigrun: Yeah. I feel my record was in all probability at $three,00zero.00, so I used to be doing more biweekly webinars, not advertising all of them. I was getting a bit bit uninterested in the Fb advertisements, after which I picked again up once I was doing proper launches after that.
But principally, I used to be considering scale, scale, scale. So, my first teams have been six individuals, and I had two occasions six individuals, but I had them together in a single Fb group to save lots of a little bit of time, and that was great. After which, in 2016, I was considering, “How do I scale this?” And, I began to work with one other enterprise coach, and all her teams have been six individuals, so I was like, “I assumed that’s what you do – once you run group packages, they should be six individuals.”
After which, I needed to problem that. I used to be like, “Why? Why can they not be greater?” And, I didn’t see any examples. Now, I see them everywhere, but back then, I simply didn’t see them. I assumed to myself, “I can do more,” so I made a decision to be daring and say, “It’s 18 individuals in the group.” I was all the time considering that everybody wants time on the recent seat. I used to be in that mode, which I know now that’s not the factor. Individuals typically don’t even like to boost their palms. They identical to to take heed to others.
So, that was all still – that was my own limiting belief when it comes to what a gaggle program must appear to be, however with 18 individuals, I figured I might have them go on the recent seat once a month as an alternative of twice a month, and things like that.
And so, in August 2016, I launched my first 18-people group program, and that turned in all probability one in every of my favorite groups. What happened was they stayed with me for three years. They renewed – not the entire group. I feel the final group was 10 individuals. All the time, a number of individuals dropped off, however they made me a suggestion every year how they will continue.
So, 2016, ’17, and ’18, it was the same group that continued, they usually all the time came – when it was operating to the top, they got here to a suggestion with me. “Sigrun, we wanna continue with you, but you only need to do one name a month with us, and that is what we’re gonna pay you.”
Jaime: Wow, that’s awesome. So, was it a year-long program, or was it six months? What was the group of 18?
Sigrun: I began to scale in that sense. There’s two ways you’ll be able to truly scale group packages in my – like I used to be doing it. I made the teams greater, and I made them longer.
Jaime: So you’ve gotten less sales cycles too. You’re like, “Oh, now they’re gonna go” – so, do you do six months or 12 months?
Sigrun: I began – the smallest group I ever ran was 4 weeks, and I’ve accomplished two months, I’ve executed three months, six months, nine months, 10 months, after which I ended up with all of them being 12 months, however this took a bit of little bit of time. I feel it was 2017 when all of them turned 12-month-long.
Jaime: Wow. Properly, you in all probability constructed up all the content and every thing else within the back end, too, to have the ability to have 12 months – not that they don’t have just you, too, but I’m positive that you’ve an enormous repertoire of a ton of content material that you simply’ve recorded over these years. Do you keep that each one on the membership website? Do they get access to that, or is it just a hot-seat type of factor?
Sigrun: It was mainly Mastermind, a hot-seat sort of factor, but I had been doing the weekly webinars, and other people didn’t – that was principally my membership. So, every time that they had a query – methods to do a webinar? How to do this? – I’d be like, “It’s in the membership.” So, I had all the content, but in fact, because they have been weekly webinars, they weren’t structured like a course or a program. They have been extra like assets.
Jaime: Yeah, so you’ll be able to just go, “You need that? Go over there. You want that? Go over there.” However, you need to have a workforce, particularly now. So, quick forward to now. You’re operating rather a lot. You’ve acquired quite a bit happening. What does your group seem like to be able to help, especially with what number of – I’m assuming you will have tons of shoppers all of sudden.
Sigrun: Yeah. So, the group packages – I first should share this part. So, my launch was $74,00zero.00, and then, we come to September 2016, I’ve simply launched this 18-people group program, and my husband loses his job. He had been working for the tech business – Siemens, Hewlett Packard, and Cisco Methods – and just had passed 10 years of service for Cisco Methods, and there’s one other restructuring, and he loses his job.
However, even earlier than, he began to joke around like, “Hey, I can simply be just right for you,” or “You’re doing so properly, I don’t have to work.” I didn’t like these comments. I was like, “No, no –” But, something occurred in me when he misplaced his job. In fact, he acquired – what do you call? – a package deal deal where he will get paid for six or 9 months, but still, I assumed to myself, “He doesn’t need to go back.”
So, in 2016, I made $340,00zero.00, so I was like – I went from $74,000.00 in 2014, $164,00zero.00 in 2015, $340,00zero.00 in 2016, however as a result of he lost his job, one thing clicked with me, and I made my largest group launch, $230,00zero.00.
Jaime: That’s huge.
Sigrun: That was over two months as a result of it’s Mastermind, and it is advisable to do discovery calls and all of that, so it’s not like in one week. However, it was consequently, after him dropping his job, that I’m doing – I did even one group greater than I was planning to do in one thing like that.
Now, the thing that happened next was in January 2017, I started to work with a brand new coach, and I come all excited into the first coaching name, and attending to know the new group, and it’s slightly bit like a new faculty, and you’re all excited. After which, he asks us to share, “What is your largest win because you began this program?”
I’m like, “I had a $230,000.00 launch,” and individuals are like, “Yay!” Everyone’s tremendous completely satisfied. Individuals only needed to be at six figures to be in the group, so this was fairly big. After which, he asks me back, “So, what are you promoting now?” I’m like, “Uh –I don’t know. I don’t have anything.” “So, you don’t have anything scalable to sell?” After which, I’m like, “No –”
Jaime: “Did you simply see what I did? I did a superb job. Wait, I get a pat on the top first!”
Sigrun: No, no, no. But, it was precisely what I needed to listen to. Typically, I don’t like teaching like that, however it was what I needed in that moment as a result of I used to be not – I had all the time this concept when you might have an internet enterprise, that you’ve a signature online course. Because the first one didn’t work out – the one the place I failed in my first yr – and, I’m so glad at present because I don’t wanna be recognized for that – I just had give attention to one-on-one and groups, and doing it very efficiently.
However all of the sudden, I was there, three years in enterprise, beginning my fourth yr, and I didn’t have my signature program. I had been jealous of all the opposite those that had their signature online packages, and I didn’t, and again, one thing clicked inside me. I used to do webinars to tell individuals how my launches went. Even at this time, individuals will message me. “Sigrun, how did your launch go? Are you not doing a Facebook Reside? Are you doing a podcast? Are you doing a webinar?” I’m like, “I’m not sharing them as much as I used to.” I share them with my shoppers, but not so publicly before.
But anyway, I had solely scheduled the webinar once I received this comment, and I’m like, “Okay, this is a chance to announce one thing. I don’t know what it’s.” On the morning of the webinar, I nonetheless don’t know what I am selling, however I’ve decided to promote something, and I had tried many occasions to think about what have been my webinars about. I had accomplished over 100 webinars on all of the subjects in on-line enterprise. Every webinar was totally different. There was no rep –
Jaime: Each webinar was totally different. I was gonna ask you about that. That’s madness. Wow!
Sigrun: No repetition. And, I used to be like, “There is a course in here; I just don’t know what it’s.” And, I had even hired a person that was imagined to be an skilled in stuff like this, and she or he stated, “That is a minimum of a 12-month program.” I’m like, “Yeah, I feel so too.” And, in fact, I just needed to make use of the content. I didn’t need to – I needed to redo it, however use the experience from creating this content material. How might I create a path? As a result of individuals wanted a path. I had tried to do a membership with the webinars, and that was not satisfactory as a result of they don’t seem to be related with each other.
And, as I sit there on the morning of the webinar, I’m like, “Sigrun’s online MBA.” I simply made it up on the day. I contact my assistant, I say, “Let’s create a gross sales web page,” and she or he had two or three hours because she is six hours behind me, so she had two or three hours to create the sales page, and it’s like hot-seat calls, you’ve accessed 100 webinars, and I had no content material created because it was just a idea, as a result of I had accomplished an MBA myself; I didn’t study something about online enterprise, or little or no about entrepreneurship, and I simply stated, “That is gonna be totally different.” And, I bought 50 spots for $1,00zero.00.
Jaime: Wow. So, did that embrace – so, it had scorching seats, though. Did it embrace you, or did it not? Was it a month-to-month factor? How long was it? Inform me more.
Sigrun: So, I referred to as this inaugural class, and I informed them this might be a $2,000.00 program, 12 months, not six or eight weeks like most on-line packages, and they might get weekly office hours with me and a month-to-month hot-seat call with me.
So, I used to be principally promoting them – as a result of the Masterminds have been bought out, so I used to be making an attempt to duplicate something of the Mastermind in a scalable program. So, the promise wasn’t that everybody gets in the scorching seat. I stated, “You must apply. Here’s the sort type. You need to apply. I can take 12 individuals on every name, and there’s no assure you’ll be able to come on more than once.” I’ve never had a problem. Even now, when I’ve over 500 individuals lively in the program right now, it’s by no means a problem. Individuals just don’t necessarily wanna come on a scorching seat in front of a whole lot of individuals, so it’s not a problem at all.
So, sure, nonetheless immediately, we have now the similar format. There’s a weekly Q&A. It’s asynchronous, so there’s a submit that goes up, they publish their questions, I’m going on Facebook Stay, reply to the questions, and then there’s a month-to-month scorching seat call, after which we now have a lot of the master courses.
Within the first two years, I took my time and created 12 core modules of every part round on-line business, and I put a variety of business into it. In fact, individuals need to sometimes discover ways to promote extra, how you can do advertising, but I pressured them to do planning and budgeting, and take into consideration revenue and loss, and team-building, and all that different stuff, which I feel is actually if you’re building a enterprise.
Jaime: The spoonful of sugar is the gross sales half, and then the drugs underneath is all the planning and the precise stuff that basically builds a enterprise. Typically, it isn’t fun. So, inform me – it’s a yr program, nevertheless it’s solely $2,000.00 in your signature one? What is the complete value for it?
Sigrun: So, it was first $1,00zero.00 for the inaugural class, then I raised to $1,500.00, then $2,00zero.00, after which I started to match it to other packages, and I was like, “Okay, I raised it to $3,000.00.” So, it’s $3,000.00 now. It’s nonetheless very reasonably priced for what you get.
Jaime: Yeah, that basically – I’ve been in the on-line area for a very long time, too. Everyone’s like, “A signature program is $2,000.00, and it’s eight to 12 weeks, and also you simply pack them all in there,” after which we do launches, and that’s type of the way it goes. Do you still do a whole lot of one-on-one stuff, and do launches burn you out? I really feel like I’ve acquired quite a number of shoppers which might be like launch, launch, launch, nothing –launch, launch, launch, and it starts to get a bit bit loopy too, so do you could have any advice on a few of that stuff?
Sigrun: I ended doing one-on-one in 2017. So, in the present day, it’s the signature program, Somba, I’ve a gaggle coaching program for $10,00zero.00, and a Mastermind on prime. I even have retreats. I bought the final one out last March. I’m operating it the top of August this yr. I don’t have the bandwidth to run a retreat anymore. Income-wise or profit-wise, you’ll be able to imagine retreats will not be the most effective thing to do. After which, I’m planning a convention, which I will come to in a minute.
Jaime: Oh, wow! I really like entrepreneurs. They’re like, “After which I’m going to do that, after which we’re gonna do this, and I don’t know what to promote on the webinar, but that is nice. Let’s do this!” Tell me extra.
Sigrun: Some things you need to plan a bit bit extra out, like a convention a yr prematurely. But, I really like launches, and I feel perhaps one of many causes is I feel it’s within the DNA, where you come from and where you’ve been raised. So, I’m Icelandic, and in Iceland, the individuals earlier than me – the generations – have been fishermen. Fishermen and farmers, and principally fishermen. When there’s fish in the sea, you go and catch it. When there’s no fish, you don’t. When there’s fish in the sea, you get some money, some revenue, and you go and purchase a automotive, a TV, or no matter, but when there’s no fish, you simply don’t.
And, that’s why when the bank disaster was here – three or four banks even have been let go bankrupt – the federal government did not save them here in Iceland, and we despatched them to prison – the individuals which might be a fault of it. Most nations didn’t. And, it was not an issue. We have been identical to, “Okay, these are gonna be the yr – for one or two years, we’re simply not gonna be spending money.”
So, launches feel like I’m going fishing. I like it! I’m just going to see, and I’m getting all the fishes, and then I come back, and I really like this downtime also between, where I can do podcast interviews and study something new, or rent a group – I spent a number of the summer time doubling my workforce – and things like that. So truly, I really like launches, and individuals are like, “Whoa, why don’t you [inaudible] [00:45:09]?” I was like, “Yeah, yeah, I’ll do this. I do know.” From the technical scale, from the strategy, I know how to try this. It simply hasn’t been an urgency for me.
Jaime: You prefer it, proper? When you like it, there’s no need to vary. That’s the opposite piece, although. Everyone’s like, “Properly, you’ll do that!” Properly, in the event you prefer it, hold doing it. I don’t know why individuals change things if they really like it. I feel that’s awesome.
Properly, I know we’ve got to start out wrapping up in only a second. What are a number of the – earlier than I get to my final question, what are a few of the developments, though? As a result of we talked about webinars, Fb advertisements, and all that type of stuff, and everyone’s like, “Nicely, webinars aren’t working as much anymore, Fb advertisements are really expensive” – everyone has the factor. So, what are you seeing is trending, especially on the launch aspect, as a result of this is one thing that you simply train?
Sigrun: I might say what was really – and, this is perhaps not so new, however I’m simply seeing the effectiveness – is using Messenger.
Jaime: Just had a webinar about that.
Sigrun: Facebook advertisements are tough. I used to do Facebook advertisements myself. For the final two years, I’ve had a Facebook ad supervisor, but I’m upgrading. I am now contemplating Fb advert managers which might be fairly expensive. I’m getting the gives, and I’m like, “Significantly? I ought to have been a Fb ad supervisor. I might be a gazillionaire.”
Jaime: Yes. I’ve a couple of shoppers in that area. It’s a very fascinating area proper now, for positive.
Sigrun: Yeah. They’re turning into extra tough, and for greater launches, for million-dollar launches, you need the skilled staff or company to deal with it. Webinars are undoubtedly not as effective as 2014. I still love them, so that’s nonetheless the best way to launch for me, but I exploit Facebook Lives or prerecorded videos in between to warm up, and I exploit them very selectively, and I all the time stream them. You can’t simply hope for individuals to return and eat anymore. The attendance fee is dramatically down within the final 5 years.
But, ManyChat – you should use it in lots of good methods. A few of the tips that I’ve used – tips or techniques – is I ensure I stream, for example, into a gaggle versus on the web page to ensure individuals in the group – the whole lot’s proven around individuals in a gaggle are more likely to purchase, and their work –
Jaime: Ooh, so you have got an entire group that we have to be a part of. What is the identify – is it a free group that everybody can be a part of? What’s it referred to as?
Sigrun: “Worthwhile On-line Enterprise with Sigrun.” And then, I’ve worksheets, and I typically construct it in a method that the worksheets are solely out there via ManyChat.
Jaime: That’s sensible. “Nicely, wait! I would like the thing! Oh, wait! I’ve to attach!” That is sensible.
Sigrun: No one’s ever stated something about it. They do it. They will all subscribe if they need to. And, I ask for an e-mail tackle, and that makes it join back to Infusionsoft for me, because you’ll be able to only do from the ManyChat aspect. So, yeah, I geek out on stuff like that, and once I’ve geeked out on it, I’ll delegate it to someone else, but I really like making an attempt out new tools.
I’ve to watch out because you will get sucked into it, so I do wait a bit bit extra now as a result of all these shiny objects and new instruments – I used to install them all and check out all of them out a number of years in the past, and other people have been like, “Yeah, Sigrun all the time knows concerning the newest instruments,” and I’m like, “No, this is not very worthwhile.” So, I wait a bit of bit, and I recommend most individuals should, until that is really what you’re selling.
Jaime: I utterly agree. I’m a geek. I’m an excellent geek, and I simply keep in mind Periscope and all these different issues the place it was like, “Ooh, let’s leap on this bandwagon. Ooh, wait, that now’s lifeless. There goes all that time.” Not that I used to be on it that much, however I’m right there with you. I created a bot a very long time in the past, and was like, “Okay, not yet.” So, we truly just did a webinar last week about bots.
However, to know, particularly on the e-mail open charges and the webinars – individuals are hearing that stuff, however to me, they’re not hearing a variety of the other good issues which are coming out which are truly working, so I really recognize that information and also you sharing it with everyone. So, have you ever built your group up from the start, or was it current? How do you know that the group thing really labored properly?
Sigrun: I truly opened the group in 2014, however I by no means – It didn’t go viral, or I wasn’t making an attempt to get so many. I keep in mind I was in an enormous Facebook group, and other people used the opportunity to promote their teams, and it just felt icky to me, so I didn’t. So, yeah, my group is about – it’s more than 10,000 members, nevertheless it’s nonetheless – I’ve made a number of million dollars, so it’s not all the time about measurement, and truthfully, I will in all probability create a brand new group very soon as a result of what happens is when you’ve got a gaggle over several years, there’s a variety of lifeless –not necessarily bodies, I don’t wanna – We talked about blood earlier than, however there’s loads of –
Sigrun: Yeah. It’s digital mud in there. It’s not helpful for the engagement, and I consider pop-up teams might be very useful for launches versus using the identical group many times. I’ve completed each, and each issues can work, but yeah, if individuals are really , they may be a part of a pop-up group.
Jaime: That’s superior. Do you have got a whole lot of moderation that has to go to create an actual interact – do you might have any assets you could inform us about creating an precise engaged group and group? In any other case, it’s like dust bunnies flying by way of and a bunch of spammers, until they are actively partaking your group..
Sigrun: So, what occurred exactly a yr in the past is that I simply obtained very tired and I archived my group. It’s not archived right now, as we’re speaking about it, however I just felt this exhaustion.
Jaime: That’s loads of work.
Sigrun: Yeah. My group was simply too small. It was pretty much me, my assistant, and my husband part-time. I felt I used to be like – nothing occurred until I stated, “Let’s do that, let’s do this,” and I just felt all of the sudden this tiredness. I didn’t assume I had a burnout. I in all probability simply caught myself before that happened.
I took a step again, I archived my free Facebook group, I targeted absolutely on my shoppers, I merged two Masterminds that – I was planning to run two Masterminds on two ranges. I merged them collectively. I made some onerous selections just earlier than Christmas final yr, however in a great way. Yeah, perhaps it harm my business – perhaps I misplaced about – “lost” – $500,000.00 less revenue, however I simply thought for my well being, that’s – you’re gonna spend anything.
And then, I took time to figure out what kind of workforce I actually needed, and I started to search for individuals in February, and I took a very long time to hire, I gave them assignments and all these exams, and it’s turned out rather well. Although I had to let one individual go this morning, general, that process was incredible. I’ve a tremendous government assistant who just – I can’t consider that I didn’t have one before. It’s been life-changing.
So, I’ve really taken the time to grow my staff, and such as you stated, it’s a must to go back. When your corporation has grown quick and you’re simply operating with it, and out of the blue, you understand someday, “Wow, I’m operating actually low on battery. I have to take a step again and make sure I get extra help.” That’s the place I used to be. So, that explains why my group is perhaps not as lively because it could possibly be, however it doesn’t actually harm my gross sales. I simply spike it up and launch.
Jaime: I really like you being trustworthy about that stuff, too, and the fact that you’re capable of perceive earlier than the pain – earlier than the burnout aspect – to go, “Oh, wait, no, there’s some inklings, this isn’t really good.” I feel like enterprise house owners should have that recalibration, and we don’t wanna admit it. We’re like, “No, every little thing’s perfectly in a straight line all the best way up, each time,” and it’s not. You understand. You’ve shoppers. It’s under no circumstances. Numerous occasions, we might be like, “Oh, wait. I don’t like that part. Oh, wait. Let’s go over here.”
So, we’re all the time making an attempt to recalibrate and work out, so I actually recognize you being trustworthy to be able to speak about it, because most people don’t. They’re like, “The whole lot is sunshine and roses. I’ll speak about it later, but –” So, I really recognize that. I do know we have now to start out wrapping up as a result of I know I advised you we’d probably go long; I’d ask you one million questions. So, the last question is what’s one action listeners can take this week to help move them forward in the direction of their objective of $1 million?
Sigrun: One motion – What would 10x what you are promoting? The motion that might 10x what you are promoting. It’s not the same action for everyone, so I just want you to – those who are listening or watching – take into consideration that. What is the one motion you possibly can do that may 10x what you are promoting? And, there’s.
Jaime: I adore it. “And, there’s, simply so you recognize, so hold brainstorming because there undoubtedly is.” I really like that. The place do we discover extra about you? I know we will comply with your group and all that fun stuff, but inform us the place you’re online.
Sigrun: So, I’ve a podcast as properly, The Sigrun Present, and sigrun.com, you discover my website, and last however not least, I might say sign up for a waitlist for the Self-Made Summit, which is my conference. That’s a conference arising in June 2020 in Iceland, so I’m bringing in audio system from Europe and America, and my visitors will probably be ladies from everywhere in the world, they usually’re already booking their journey, and because I’m on a mission to speed up gender equality, Iceland is No. 1 in gender equality on the planet.
Jaime: Actually? Wow.
Sigrun: It doesn’t imply that we’re super good, however it signifies that everyone else is worse. But, my objective is to convey together like-minded ladies who really need to change the world by starting or scaling their enterprise, and I would like us to assume greater. I would like more ladies to be millionaires.
Jaime: After which, they will come on my present. Superior. The place do they discover out extra about your convention? Is it sigrun.com where they’ll discover all that info?
Jaime: Ooh, nice. I really like the identify of it, too. Not “self-made man,” “self-made ladies.” Thank you so much for approaching the present. Everyone take a look at her podcast. I so respect you, Sigrun. Thank you a lot, and have a tremendous day.
Sigrun: Thanks so much. It’s been a pleasure.
Categories: All, Featured Millionaire Interview, Millionaire Interviews
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