Categories: Growing Revnue + Wealth, Niching

Link: https://rochellemoulton.com/soloist_podcast/pulling-out-of-a-revenue-nosedive-with-chris-ferdinandi/?utm_source=subscriber

What do you do when your consistently growing revenue suddenly takes a nosedive—and your peers are feeling it too? Soloist Chris Ferdinandi walks us through the experience and the experiments he conducted to start lifting himself out of it.

Why he built his business as a side hustle and didn’t go solo until he matched his corporate salary.

The financial and emotional hit of a 50% revenue drop—and how to experiment without morphing to panic.

What to do when you’re “too feral” to go back into Corporate: the experiments that failed and those that gave hope.

How selling to a 640-person email list outsold the results from a 14,000 list—by over 3X (hint: the new sale was in his genius zone).

Two moves to make when your revenue is tanking—and one surprising upside.

LINKS

Chris Ferdinandi ADHD Tips | Mastadon

Rochelle Moulton Email List | LinkedIn | Twitter | Instagram

BIO

Chris helps people build a simpler, faster, more resilient web.

Early in his career, he felt like he couldn’t get anything done. Since then, he’s discovered a bunch of systems and strategies that let him turn his ADHD into a superpower. His ADHD tips newsletter is read by hundreds of developers each weekday.

He creates courses and workshops, publishes several daily newsletters, speaks at events, and has advised and written code for organizations like NASA, Apple, Harvard Business School, Chobani, and Adidas.

Chris loves pirates, puppies, and Pixar movies, and lives near horse farms in rural Massachusetts.

BOOK A STRATEGY CALL WITH ROCHELLE

RESOURCES FOR SOLOISTS

Join the Soloist email list: helping thousands of Soloist Consultants smash through their revenue plateau.

Soloist Events: in-person events for Soloists to gather, connect and learn.

The Authority Code: How to Position, Monetize and Sell Your Expertise: equal parts bible, blueprint and bushido. How to think like, become—and remain—an authority.

TRANSCRIPT

00:00 - 00:20

Chris Ferdinandi: I also feel very positive about my ADHD. Much in the same way on your episode, the phrase like ruthless self-acceptance or there...

When you started your business, you probably imagined steady revenue growth under your original business model—only to discover that the only way to grow the way you want is by experimenting! Business Coach Jessica Lackey (a McKinsey and Nike alum) shares her year-by-year experience in crafting her ideal business model:

How she contracted for “bridge jobs” in Year 1 to ensure cash flow—and why she’d do it again.

Year 2: building a “whale” delivery model with enough whales so you’re not overly dependent on any one.

Why she pivoted from a 1-1 delivery model to group and membership options (and it wasn’t because she had a large email list).

The pros and cons of running multiple revenue models as you pivot vs. making a faster shift.

How building interchangeable assets allows you to leverage your authority faster.

LINKS

Jessica Lackey Website | LinkedIn | Twitter | Instagram

Rochelle Moulton Email List | LinkedIn | Twitter | Instagram

BIO

Jessica Lackey is a strategy and operations advisor who blends business strategy, practical application, and a human-centric approach to create sustainable businesses.

With a background in corporate leadership, McKinsey & Company consulting, and a Harvard Business degree, Jessica knows a thing or two about hustle culture and what it feels like to judge success by the bottom line…at all costs.

Now, she combines her deep experience in consulting, Fortune 500 operations leadership and coaching to help businesses grow without sacrificing the well-being of their clients, team, and community.

BOOK A STRATEGY CALL WITH ROCHELLE

RESOURCES FOR SOLOISTS

Join the Soloist email list: helping thousands of Soloist Consultants smash through their revenue plateau.

Soloist Events: in-person events for Soloists to gather, connect and learn.

The Authority Code: How to Position, Monetize and Sell Your Expertise: equal parts bible, blueprint and bushido. How to think like, become—and remain—an authority.

TRANSCRIPT

00:00 - 00:19

Jessica Lackey: I had a social media team, but I actually dropped Instagram in 2023 and I stopped doing as much LinkedIn. And I really focused on those marketing platforms that took more time, but had a bigger result. So again, I write once a week, I guess teach once a month. And people are like, you do that for free? I'm like, well, yeah.

00:24 - 01:05

Rochelle Moulton: Hello, hello. Welcome to the Soloist Life podcast, where we're all...

If this last year was NOT smooth sailing for your Soloist business finances, now is an ideal time to pave the way to better. There’s still time to avoid unpleasant surprises (think giant tax bills) and start streamlining your financial life before year-end:

The five strategic pieces of information you want in your hands before year-end.

How to think about your financial team (and why it’s worth investing in the right experts).

How a financial surprise made me completely shift how I managed my business cash flow.Why you want to build a cash reserve for your business and a resource to get you started.

LINKS

Rochelle Moulton Email List | LinkedIn | Twitter | Instagram

Consultants + Money podcast episode on cash reserves (Erica Goode)

BOOK A STRATEGY CALL WITH ROCHELLE

RESOURCES FOR SOLOISTS

Join the Soloist email list: helping thousands of Soloist Consultants smash through their revenue plateau.

Soloist Events: in-person events for Soloists to gather, connect and learn.

The Authority Code: How to Position, Monetize and Sell Your Expertise: equal parts bible, blueprint and bushido. How to think like, become—and remain—an authority.

TRANSCRIPT

00:00 - 00:43

Rochelle Moulton: Think of it like a non-emergency emergency fund for your business. It's a way to smooth out the inevitable cash flow variations in our kinds of businesses. And once you fully fund a cash reserve, I can guarantee you will like the comfort and freedom that it provides. Hello, hello. Welcome to the Soloist Life podcast, where we're all about turning your expertise into wealth and impact. I'm Rochelle Moulton, and today I want to talk to you about getting your finances straight. It's late October as I'm recording this and it's the perfect time to get both strategic and tactical

00:43 - 01:18

Rochelle Moultob: as you pave the way for the year you want for your business and for your life. So let's start with the strategic. Okay, at this point in the year, you wanna have several things in the bag. 1, you want a reasonable idea of your current and projected financial position. That means how much revenue have you already closed and what's likely to hit before year end. Same thing with your expenses so you can get a feel for your bottom line year. It also means how much more can you tuck away in your taxed advantage solo 401k. Now

01:18 - 01:59

Rochelle Moultob: remember, you can make additional employer contributions above and beyond your salary deferrals. Don't have a solo 401k yet? Talk to your financial advisor or your CPA about the best options for you. Contributing consistently to your 401k is a baller move, especially for soloists since we don't have anyone funding our future life but ourselves. 2, take this understanding and