There are women all over Australia who are riding the wave of fast-growth in their product businesses. And you know what?

I have absolutely nothing against their growth. I’m happy for them.

Given the statistics around women’s likelihood to be successful in business, I think it’s amazing. If only 3% of us who start businesses get to the million dollar mark, then if you’re one of the people who falls into that category –

You are a statistical anomaly and you should be hugely proud of yourself.

Studies show again and again and again that matriarchal societies – societies lead by women – prosper more than societies lead by men. And really what it comes down to is this –

  • When men are successful, they hoard the resources for themselves.
    When women are successful, we make the world a better place.

That’s not opinion, that’s a fact.

So on some level, as women, we have a moral responsibility to make more money and to do better in business than we are, because we are the ones that are driving huge change in the world.

I see it in my clients. I see it in my friends.

And again, I want to be clear, that’s not what I mean when I say the fetishisation of fast-growth.

What I’m talking about is the current conversation in eCommerce that is lead by many advertising agencies and even the businesses themselves.

“Fast-growth is the only way”

And I’m calling myself as the first person to enter the conversation because I am guilty.

My process works.

I was walking with a friend the other day and I told her that people have used my process to become millionaires – literally, a million dollars in the bank – in 12 months.

The work that I’m helping women in Australia do with their product businesses is incredibly powerful. When they follow my process, it works.

But here’s where I’ve fallen short as a key person in the industry of product businesses.

I’ve shouted my client’s success from the rooftops, but I’ve very rarely spoken about that cost to the client and their business.

Do you want to know what really happens when you make a million dollars in a year?

  1. Your body is broken because you put the business before yourself, over and over and over again, even when your whole physical being was screaming at you to stop.
  2. Your mental health is completely shot from the long, isolated hours at the computer screen and constantly fire-fighting problems from the fast growth you’ve had.
  3. You’re so burnt out, you can’t sleep because your brain is wired and you can’t focus because you’re exhausted.
  4. Your business dances with insolvency again and again and again, because you swing wildly from $100k months to $10k months, and despite your best efforts to change that.

And in the end?

You don’t even want your business anymore, because what’s even the point.

That’s what fast growth looks like on the inside of a product business.

Not only have I been complicit in sharing the narrative that building a million dollar business in a year is a good thing as a coach, I’ve bought into the hype of it and done it myself.

This is me in 2017.

Lucy Bloomfield, founder of Trefiel and CEO of 10k Customers

I look really happy, right? Healthy? The perfect model for the woman who has it all thanks to this face mask?

Let me tell you what I see in that photo:

  • Dragging myself of bed at 6am by telling myself what a lazy piece of shit I was, so I could go to the gym and train for 3 hours
  • Train MMA and boxing at the gym for 3 hours and take my anger for myself and my incompetency in business out on a physical bag
  • Get home, drink four coffees
  • Work flat strap for 5 hours, fielding questions from my team constantly, feeling so angry and frustrated that they just couldn’t do the fucking job that I hired them to do
  • Eat while working
  • Pack orders for 5 hours
  • Run to the post office two blocks away in Melbourne CBD when our van never showed up, frantically trying to deliver tens of thousands of dollars of orders in a day.
  • Getting home, eating dinner while talking business with my boyfriend/business partner
  • Pack orders until midnight, watching Shark Tank and furiously trying to keep my cortisol high enough that I could stay awake
  • Smoking as much weed as I possibly could to try and get to sleep, and even then it was broken
  • Hearing my alarm at 6am and doing it all over again.

I was very, very, very sick in this photo.

My period had stopped. My hair was falling out. I had no sex drive. I had no social life. I was snapping and snarling at everyone in my team. My relationship with my boyfriend/business partner was breaking down. My gut was constantly rolling from anxiety and stress. I had severe adrenal fatigue.

And there was no way out.

This is the reality of what happens when your product business grows fast.

But no one knows that when you get into this industry because no one in the industry is talking about it.

I do not agree that fast-growth doesn’t come without major problems to the business and the CEO behind it. I’ve lived it myself and I’ve watched my clients do it, over and over again.

And you will never see another piece of content with me that aligns with that message.

Now that I’ve been in 10k Customers for a number of years, helping women like yourself build these kinds of companies and solve the problems that come with them, fast-growth is not something you really want to be dealing with.

And fuck all these Facebook Ads that talk about it as if it’s the only way to build a company.

Every time I see a Facebook Ad that talks about “my client went from $30k months to $270k months”, I think –

“Wow, your client is going to go insolvent”.

I know that you’ve seen them. I know that you’ve clicked on them. We all have.

The allure of the storyline and the mythology of a fast-growing product business is sexy, especially when you’re dealing with the Volume Problem.

Volume Problem = not selling enough volume of orders to be a business that meets its bills and makes money.

Product business owners: “Make a million dollars in 12 months? Wow, then ALL of my problems will be solved.”

Me, and every other person who has been through it: “No honey, it gets much, much worse and most people who are selling you ‘make a million dollars in 12 months’ don’t know how to deal with the problems that come when you actually do it.”

I was one of them.

Even though I went through it myself as a CEO of a product business, I did not solve the problems. By the end of Trefiel, I was so burnout that I signed my half of the company over to my business partner and walked away with nothing.

And because I didn’t know how to fix those problems at the time, when my clients were successful using my sales process, the same thing happened again.

I’ve had two clients essentially become insolvent because they grew too quickly. I’ve had other clients who didn’t quite go over the cliff, but were standing with most of their feet over the edge.

And the reason for that is NOT because they needed more money. They had plenty of it and could turn the tap on when they needed it.

It’s because I didn’t know how to fix what happens when you have too much money. And because I didn’t know how to fix those problems, they couldn’t fix the problems they had.

Help you make a million dollars? Easy.

Easy, easy, easy. In fact, it’s so easy I think that pretty much any guru telling you they can help you do it on a Facebook Ad is probably telling the truth.

Because they’re right – it is easy. It’s not hard.

Facebook Ads and advertising, in general, isn’t particularly hard. It’s a skill, like anything else, and you have to learn it, like everything else. But it’s not particularly complex.

But the hard thing, and the thing I know for a fact that NO ONE is talking about is what the hell you’re supposed to do once you’ve made a million dollars. Or are on track to make it.

Because let me tell you right now, it’s not making another million in the following twelve months.

You won’t be alive to do that.

But it’s the thing we all default to when we look at our now successful businesses because what else should we be doing? That’s literally the only conversation being had on the Internet about product businesses.

  • There’s no conversations around leverage.
    There’s no conversations around profitability.
    There’s not even any conversation around distribution.

And I know for a fact that these conversations aren’t happening ANYWHERE because when I talk to women-led companies who have either a) made their first million or b) are on their way to it, they have never heard these terms.

They don’t understand them.

And they have no idea what they even mean, bar a surface-level definition of the word.

And that’s a HUGE problem in the industry right now.

The fact that we have so many women-led companies that are doing so well and they don’t understand these words or why they’re more important than just making more money is a huge problem in the eCommerce environment.

The only way to tackle systemic problems like this is to be the person to jump in first.

Please make your first million.

We need more successful women. You need to make sales in your product business. You need to build a sales system that works. You need to have volume of orders coming in. Do it.

But after that, your goal should not be fast-growth. More money, more money, more money is not the path to what you’re looking for.

  • You won’t become more profitable if you make more money.
  • You won’t have less fires if you make more money.
  • You won’t have more time for your family and children if you make more money.

You won’t.

More money is the wrong bandaid now, babe.

Because your business is bleeding everywhere from a deep wound, and the “more money” bandaid isn’t going to stop the flow. You need to suture your business. You need stitches. You need intensive care.

You need to solve the actual problems in your business, not throw money at them and hope that the money will fix them.

It won’t.

And if you’re staring at your business right now thinking –

“That’s me and yes, I have no idea where to start”

Please reach out to me.

This is my JOB.

I’ve done this so many times I have a PROCESS.

I’ve seen so many clients go through what you’re going through that everything you can and will say to me about your business and where it’s at right now is NORMAL.

  • You’re not a bad CEO.
  • You’re a beginner CEO.

And now it’s time to step up onto the next step and master the next level.

Email me – I’m here to help.