This week’s Misfit Entrepreneur is Megan Yelaney. Megan graduated valedictorian of San Diego State Business School in 2009. By 2012, she had started a network marketing business that wasn’t really making money was waiting tables in-between acting gigs and background work on film and television. She was barely making ends meet.
But, in just a short time, about a year, she turned everything around and created a million dollar business. How?
I’ve asked Megan to come on the show and tell her story of how she went from waiting tables and acting gigs to million-dollar entrepreneur – and teach you how you can do the same.
www.MeganYelaney.com
@MeganYelaney on Instagram
Megan was not an overnight success. It took her some time. When she graduated, she did the exact opposite of being practical and using her degree. She went to LA to pursue her dream of acting and fell into network marketing naturally because she was a user of the products. She didn’t treat like a business.
For 1.5 years she treated it like a hobby and made a little bit of money. But then, she had the moment where her life changed. She was at a conference for the company seeing all of these people having so much success and making huge amounts of money and they were no more talented than her. She realized she was sitting on a goldmine and decided to get serious. She committed deeply to personal growth and development. This helped her to better believe in herself and started her taking action.
After a year, she was able to quit all her side jobs and soon after made over 6-figures and became top 50 in the company. But, she felt she had a calling to do more and could be more. She felt she had so much more to offer. It was at this time that company changed from physical products to more digital products and it cut her income almost in half. She decided in 2017 to go all in and start her own coaching and training business.
It was very humbling.
But within just two years, she now has a run rate of over $1 million for 2020.
Why do “pretty” and “awkward” have such big meaning for you?
- It started because she was actually making fun of the health and wellness industry.
- It happened when she attempted to do a specific type of pose and called it ridiculous, etc. and it went viral.
- It quickly made her realize that her authenticity was what resonated, not trying to do some awkward pose and act like she has some perfect, curated life.
- Embrace your quirks and what makes you different.
- It means building a brand by being yourself.
What were the actions you took to succeed and what do you teach others to do to succeed?
- It’s very easy to put your business aside. Plan your business every week. Block in time for it. Don’t let it become “last on the list.”
- Even if you have a job, schedule in at least an hour per day.
- Once you block time, then you have to be very specific about what you will do with that time.
At the 16 min mark, Megan talks about she uses content in her business and the actions she takes with it….
- It’s important to set themes by week and month.
- You must use multiple types of content around the theme. (educational, story, side by side emotional connections, what you stand for/against – speak your mind).
- Engage and ask questions of your audience and find out how you can help them and use their feedback.
- Use the words from the feedback you are getting in your posts.
What do you find that works when it comes to content?
- Repurpose everything in different ways.
- Work weekly to two weeks out.
- Have a theme for the week.
- Start with a podcast or a blog as your anchor that the rest of the week’s posts go off of.
- Megan does 4-5 social media posts and puts them across all platforms, but main medium is Instagram.
- Free Facebook community where she does one video for them once per week.
- Literally from one podcast, you get a blog, emails, social posts, and Instagram stories.
- This avoid being overwhelmed.
- Megan doesn’t use automations, except for scheduling in Facebook groups. Other she knows uses Plan, Hootsuite and Planily for Instagram.
- Standard operating procedures are so important. Document everything to hand off to others.
Any other thoughts on how to get high tickets clients?
- Form relationships with your audience and be curious.
- Ask what kind of content people really need.
- Be clear and willing to give before you get.
- You cannot be fake and you cannot go straight to asking for business.
- Following up with people once you have created value for free for them and formed great relationships is key to success.
- Pay your dues and earn trust first.
At the 37 min mark, Megan talks about building teams and what helped her to do so in network marketing…
- Knowing what motivates people and why they show up is critical.
- The hard part is motivating people to continue to show up.
- Having her team take personality tests like DISC tells a lot about how they are motivated and what they are motivated by.
- Once you understand their personality and how to best work with them, you can create a better environment and help them succeed.
Other lessons learned from building a high level network marketing business that translate to your business today?
The people that keep showing up every day, even when they don’t want to, figure it out and find success.
- Don’t disappear.
- Consistency wins over any fancy strategy.
- It must become habitual and people will become to expect it.
- Open and honest communication – having hard conversations because you care is important and helps you build a team even better.
- It also helps them to grow.
- Coaching about helping people grow. Growth is uncomfortable.
What has your work in acting and film taught you that translates to entrepreneurship?
- Definitely work ethic.
- Preparedness.
- Eating the elephant one bite at a time. Chunk things up. One step at a time.
- “Overwhelmed is not having too much to do, it’s just not knowing where to start.”
- One of the best ways to close sales calls is to hold the space for people to just talk and listen to them. Letting them know you are listening and there for them. Really hear people.
Best Quote: Overwhelmed is not having too much to do, it’s just not knowing where to start.
Megan's Misfit 3:
- Always go deeper. Get past the surface level. You will connect at much higher levels with people.
- Be consistent. Show up every day no matter how big or small it is and bring your best. Infuse joy into your daily tasks.
- Go back to why you do what you do whenever you are frustrated. You’re here for a reason. You’re doing what you do for a reason.
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