Starting a business is easy compared to scaling one. When you look at the fail rate for start-ups you’ll discover that 10% of start-ups fail within the first year, and 70% fail within the first five years. The main reason for failing is that most founders struggle with scaling.
While there are plenty of resources and mentors to guide one through starting a business, finding help with scaling can prove to be challenging for the majority of entrepreneurs running online businesses.
The Online Empire
The Online Empire is a new entrepreneurship community to be launched by the leadership team of a 7-figure marketing agency in January 2023. The founders of this community are seasoned entrepreneurs, Devin Morris, Patrick Burt, and Lauren Wise. The Online Empire is a community of entrepreneurs and experts helping people to scale their online businesses, giving them a foundational system to follow, along with follow-up accountability.
While a lot of online communities are focused on helping new business owners get started, The Online Empire’s mission is to help existing business owners get over the hump of scaling past 5-figure months, and break into 6-figures and beyond, with membership rates starting from as little as $150.
Scaling a business in a sustainable way
Lauren Wise explains, “Everyone shows you how to get started, but no one talks about how to leverage business credit, hire the right people, and how to be a good leader or manager.” As a result, through trial and error, the team of experts decided to build a 7-figure marketing agency together, Power Up Media. Now, their next step is creating a strong community that supports entrepreneurs by creating the systems and processes to scale sustainably – all without the confusion, constant burnout, and stressful ups and downs.
“A lot of agencies or coaches are high-ticket, but they care more about the money than actually helping business owners get results,” continues Lauren. She points out that the idea of The Online Empire is to create a community that lays out a framework and provides true accountability – for a fraction of the cost a typical coach or “guru” would be.
Community is power
By 2035, it is estimated that 40-50% of the workforce will be freelancers. People will need to know how to scale online as most of, if not all, the competition will be online. This trend is why entrepreneurs need to be part of an entrepreneurship community. Such a community is powerful as you have the opportunity to learn from those who have gone ahead and scaled their business to seven figures.
When asked about the best advice for entrepreneurs, Devin suggests, “Everything you do has to be aligned, otherwise you’re going to burn yourself out very quickly.” Patrick says, “Do what makes you money, not what makes you feel good. That way you can do what makes you feel good without worrying about what makes you money.”
Lastly, Lauren advises entrepreneurs to be “Unapologetically online as people want to know the person behind the brand.”