You started feeling it at the mid 6-figure mark, something is wrong.
That feeling of nausea at the pit of your stomach when you think about your business is the epitome of “7-Figure Poor”.
But wait, lets rewind…
I mean, you made it! Your business is successful. Your family is proud and you can’t believe those crazy deposits hitting the bank account almost daily.
But then it happens…
You start feeling exhausted and anxious as you pay bills. You look at the bank account and have no idea where all that revenue went.
You are falling out of love with your business a little bit more each day.
You are overwhelmed, your team is overwhelmed and you wonder, what in the world happened and how did things get so screwed up!
How Does It Happen?
Several factors are at play, ranging from external pressures like inflation to internal mindsets shaped by personal relationships with money.
Inflation: The cost of living and doing business keeps rising, while your revenue may not be keeping up. Even if your income is increasing, inflation quietly erodes your buying power and profit margins, making it feel like you’re running just to stay in place.
Taxes and Insurance: As your business grows, so do your tax obligations and insurance costs. Without the right strategies to manage these, you could be hemorrhaging money that should be going back into your pocket or your business.
Business Expenses: Payroll, rent, software subscriptions, marketing—these operational costs often balloon as your business grows. If you’re not managing them tightly, they can swallow up much of your profit.
Not working with the right clients at the right price point: Many business owners undercharge for their services or work with clients who demand too much for too little. If your pricing isn’t aligned with the value you provide, or if you’re constantly overdelivering to keep clients happy, your business will suffer.
Overwhelm and Burnout: The pressure to maintain a 7-figure business can lead to mental and emotional exhaustion. When you’re burnt out, you can’t make clear, effective decisions, and the business—and your finances—start to suffer.
Scarcity Mindset: Some entrepreneurs operate with a fear that success is fleeting, or that money could disappear as quickly as it came. This scarcity mindset can prevent you from making investments that would allow your business to grow sustainably.
Indulgence Mindset: On the flip side, some business owners fall into the trap of spending lavishly once they reach the 7-figure mark.
Generational Challenges with Money: Many entrepreneurs come from backgrounds where profit wasn’t a common discussion. There may be guilt, fear, or pressure to provide for others, making it difficult to focus on building personal profit.
You can avoid or repair from the 7-Figure Poor Phenomenon. Grab a call with our team for practical advice on how to do it. No sales, no nonsense, only support – https://reneeahughes.as.me/profit-analysis
