The Kristen Boss Podcast: Episode 220 – Mini Series: Paycheck Plateau #2

Release Date: July 22, 2024
Host: Kristen Boss
Podcast Description:
The Kristen Boss Podcast is tailored for everyday entrepreneurs and business owners. Hosted by Kristen Boss, a top business coach, bestselling author, and CEO of The Social Selling Academy, the podcast delves into sales, marketing, and mindset strategies. Each episode offers practical tips, heartfelt truths, and innovative approaches to succeeding in today’s online business landscape with purpose and authenticity.

Overview

In Episode 220 of The Kristen Boss Podcast, Kristen Boss continues her insightful mini-series on "Paycheck Plateaus," specifically focusing on Paycheck Plateau #2. This episode is a deep dive into the common challenges entrepreneurs face when their business growth stalls after initially tapping into their warm network. Kristen provides valuable strategies to overcome this plateau by effectively transitioning into the cold market, emphasizing the importance of lead generation, content creation, and strategic marketing.

Key Topics Discussed

1. Understanding Paycheck Plateaus

Kristen begins by distinguishing between different types of paycheck plateaus, which are phases where business growth slows or stalls despite ongoing efforts.

• Paycheck Plateau #1:
  "Paycheck plateau number one... is when you've already talked to your inner circle, your close friends, your close family, the network of people that already like you, know you, and trust you." (02:13)

• Paycheck Plateau #2:
  "Paycheck plateau number two, you have figured out how to talk to people that aren't your immediate friends and family, but they're still in your warm network." (05:15)

2. Transitioning from Warm to Cold Market

Kristen elaborates on the critical transition from leveraging a warm network to expanding into a cold market, where the audience has no prior relationship with the entrepreneur.

• "This is when every person in business realizes the only way for me to grow is I have to get in front of more people. This is when I see people freeze up for years because they don't know how to get in front of more people." (08:45)

3. Common Mistakes in Expanding to the Cold Market

Kristen highlights frequent errors entrepreneurs make when attempting to engage with a cold market, such as replicating warm market strategies on platforms like Instagram without adaptation.

• "I see people start an Instagram account and... they just post the same way as they would on Facebook... Instagram is a completely different market." (12:30)

4. Strategies to Overcome Paycheck Plateau #2

Kristen provides actionable strategies to effectively engage with the cold market:

• Lead Generation:
  "Lead generation is your ability to attract people to your platform... turn them into a qualified lead who will become a future customer or buyer." (18:20)

• Content Creation:
  "You have to become a content creator... thinking about my content more strategically. I'm gonna be working on reels and more video content." (22:10)

• Email Marketing:
  "An email list is an absolute must-have insurance policy and business asset for you. Especially once you have been in social selling for a while." (24:00)

• Understanding Market Maturity:
  Kristen explains the shift in online marketing dynamics since 2018-2020, emphasizing the importance of applying paid traffic principles to organic content to stand out in a saturated marketplace.

  "Now we have to apply paid traffic principles to our organic content with the cold market, do you understand?" (15:50)

5. Building a Personal Brand

Emphasizing the long-term benefits of a strong personal brand, Kristen discusses how establishing trust and likability with a broader audience enables consistent sales across various products and services.

• "When you build a brand in the online space that has an audience of people who like you, know you, and trust you, you can sell anything." (25:30)

Notable Quotes

• Kristen Boss on Market Transition:
  "You're moving from being just a social seller to now becoming a content creator." (19:45)

• On Overcoming Plateaus:
  "If you understand how to do lead generation from your cold market, you become unstoppable in the online space." (23:10)

• On Content Strategy:
  "Cold market is always asking what's in it for me when it comes to consuming your content. If you can't answer that question in one post, they're not following you." (20:55)

Insights and Conclusions

Kristen Boss underscores the inevitability of encountering paycheck plateaus as businesses grow beyond their initial network. Paycheck Plateau #2 specifically addresses the challenge of engaging a broader, colder audience. Kristen advocates for a strategic approach that includes:

1. Developing Lead Generation Skills: Essential for attracting new, unconnected leads.
2. Adapting Content Strategies: Tailoring content to provide clear value and resonate with a cold audience.
3. Building an Email List: Creating a direct line of communication independent of social media platforms.
4. Investing in Long-Term Brand Building: Establishing trust and authority to ensure sustained business growth.

By mastering these areas, entrepreneurs can transition smoothly into the cold market, break through financial plateaus, and achieve substantial, long-term success.

Offers and Resources

Kristen promotes several resources to assist listeners in overcoming paycheck plateaus:

• The Hub:
  "The Hub is the ultimate place for you to learn the foundational habits and skills... connecting, building relationships, writing content, and how to sell without feeling icky in the online space." (00:05)

• Social Selling Academy:
  "If you are ready to expand into your cold market, grow your audience, learn the skills of lead generation... check out the Social Selling Academy." (01:19)

• Programs Breakdown:

  • Seven Day Content to Conversations Challenge: "Helping people just hey, let's get you started so you actually have success right from the get go." (24:30)
  • The Hub: "Paycheck plateau number one. Paycheck plateau number two, it's the Social Academy." (26:10)

Kristen also mentions updates to the Social Selling Academy, including a waitlist for the one-year membership and enhanced accessibility, ensuring that entrepreneurs receive up-to-date training to navigate market transitions effectively.

Final Thoughts

Episode 220 of The Kristen Boss Podcast serves as an essential guide for entrepreneurs facing stagnant growth after exhausting their immediate and warm networks. Kristen Boss provides a comprehensive roadmap to transition into the cold market, emphasizing the necessity of adapting strategies, enhancing content creation skills, and building robust lead generation systems. By implementing her strategies, listeners can overcome Paycheck Plateau #2 and move towards sustained business prosperity.

For More Resources and to Join the Waitlist:
Visit www.kristenboss.com

Connect with Kristen Boss on Instagram:
Share your progress and get featured by taking a screenshot of today’s episode and tagging @kristenboss.

Listen to the next episode in the Paycheck Plateau series, where Kristen will discuss Paycheck Plateau #3, delving deeper into advanced strategies for sustained business growth.