By: Amy Rosner By: Amy Rosner | November 8, 2021 | Lifestyle
There’s an abundance of “coaches” out there in the current landscape telling people you can basically manifest anything you want. This is often said to include your career and business but could it really be that easy? According to one CEO & Founder, it’s not.
Kathryn Porritt is the world’s leading strategist in luxury marketing and premium offers. Featured in Forbes, Entrepreneur, Vogue, Authority, InStyle, Thrive Global, and on the BBC, she teaches entrepreneurs to create a powerful personal brand that sells to luxury clients.
Having created two companies with 7-figure revenues, Kathryn has had extraordinary success, and in both experiences, she’s admittedly worked herself to the bone.
Kathryn is an author and visionary guide, generating some of the most maverick and fastest-growing entrepreneurs in the coaching, health, spirituality, technology, and lifestyle industries.
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Talking about this she said, “Anyone claiming you can create a multi-million dollar business through manifesting it, is feeding you bullsh*t. To create a revolution, you have to produce it.”
We sat down with Kathryn to discuss her process of turning entrepreneurs into true industry icons, the inherently problematic nature of the anti-hustle mentality, and what tangible steps need to be taken to make your dream company a reality.
What is your perspective on the anti-hustle mentality? What are the advantages and disadvantages of this phenomenon?
I am an advocate of not just having a vision but actually bringing it to fruition through hard work. The idea of hustle being bad is something I have a real problem with. I have created two multi-million dollar businesses and know dozens of others who have done the same, and every single one of us has worked incredibly hard to achieve that level of success.
Hustle for the sake of it is a problem, though. I do see a lot of great people spinning their wheels, especially on things that make zero sense. You really do need to know what to expend your energy on because it is finite. That comes with imperfect action, optimization, and maturity. Get out there and do it, then you can refine where you spend your time.
Manifestation is super trendy right now. How does the idea of “manifesting your destiny” inherently problematic as it relates to the workplace?
Manifestation is a big buzzword right now, no doubt about it. Manifest your life, manifest your dreams, manifest your career? It’s just not that simple. Of course, everyone should believe in the power of positive thinking but I also know that if I don’t get off my ass every day and work my hardest nothing will be handed to me by the universe. It is in producing your revolution that dreams come to life.
Frankly, success comes down much more to the laws of action rather than the laws of attraction. As much as I love the idea of manifesting your dream outcomes, I have never seen the manifestation of your dreams without producing and effort.
You can’t just materialize money. It takes a different kind of magic. The magic that happens when you pour your heart and soul into something. When you build it with love, passion, and a drive that is bigger than you.
What steps need to be taken for building a legacy business that will have a lasting impact?
There are a few steps to this that I have witnessed and been a part of through my work at Luxury Influencers, where we have seen Icons born and legacies created.
When these all come to life, disruptive legacies are inevitable. Some of the most influential businesses were built on these rules. Test this against Virgin, Disney, and The Body Shop, as well as many luxury brands such as Chanel, Maserati, and Gucci.
What does “commercializing your expertise” mean in tangible terms? Why is this so critical to being successful in any market?
I’m such an advocate of gifted leaders leveraging their personal brand and commercializing their influence to create that disruptive legacy. So many elite experts ignore this opportunity and it’s a big part of how you can create your legacy.
I am constantly amazed at how many elite experts literally only have one or two streams of revenue. At Luxury Influencers, we represent some of the most exciting personal brands on the planet. They have many streams of income and are the Icons in their niche. We use a luxury business strategy to commercialize their influence while amplifying their message to achieve potent impact.
Most coaching programs and strategies teach one way of making money. In our experience, this is leaving millions on the table. For the most elite experts in their space, they can ADD many additional income streams, such as:
These 14 strategies should be “and” strategies for every elite expert on the planet. If you are literally only choosing one “or” two of these now, you’re leaving millions on the table.
You talk about the value of intentional marketing. Can you talk more about targeting your business to a specific demographic, and how this is critical to your company’s success?
The idea of intentional marketing is very simple. Our clients are looking to work with their dream clients or secure their dream deals. In order to make this come to life, we have our clients really get to know those people and opportunities through deep research, then we strategize ways to get in front of them. We pull lots of levers to make this work, but it’s highly targeted on a very small group of people (even simply one person!). For really busy leaders, this type of marketing feels so much more elegant, aligned and mitigates that feeling of “hustling” even though they are doing the work.
What advice would you give somebody trying to create their business model? What are some critical, standard components of a business model, and what unique components can somebody bring to the table?
In the most simplistic terms, there are two main business models: mainstream and luxury. Now, obviously, there are iterations of this and there are many variations of each.
For the sake of brevity: mainstream models are the ones that most businesses use. They are based on volume and address the market needs. At its peak, a mainstream business is one that has mass-market appeal. They make small margins, have price sensitivity, focus on squeezing and controlling the distribution channels, and do volume selling. They grow from the bottom up and may add premium products or services later once they have created authority.
Luxury businesses work from the top down. They create their authority at the top of the market, and leverage that authority to create scale and impact at a mass level; controlling the quality and pricing the whole way down the line.
I have had businesses in both - mainstream and luxury. As a mature entrepreneur now who really understands the value of time and energy, I opt for luxury every day. It’s a more elegant way to do business with less focus on volume and more focus on impact and quality.
When anyone who is incredibly gifted asks me where to start with a business, I always urge them to consider the luxury model.
So many people have great ideas but they never come to fruition. What steps need to be taken to mold a theoretical company into reality?
Act now. There is no good time or bad time to go after those big goals. Stop waiting for the right moment. There isn’t one. Get out there and buy that domain name, start that social media campaign, purchase that LLC, just get started. By putting one foot in front of the other you’ll be headed down the path to turning your dream business into reality. Find the help you need and go for it.
I have heard so many people tell me great ideas they have - these great big visions - and so few of them actually put that into practice. The act of producing your revolution is the key. Take the step. Stop waiting for the perfect time. There literally is not one.
Work-life balance is the talk of the town right now. What are your thoughts on this concept, and is it possible to achieve success with an equal balance?
Work-life balance is rightfully a big topic of conversation. There are days I’m up at 3 or 4 am, meetings at 5 am, and I’ll admit to working crazy hours during the week but I always make time for my family and encourage my team to do the same. Whether it’s penciling in picking up my kids from school or blocking out time to take them to their sports games, putting those things first is a necessity. When it’s the weekend, I do my best to be there if our clients need us but that’s the time to recharge, reset, and reconnect with the real reasons we work so hard.
It’s been said that your strategies have turned entrepreneurs into icons. What is your secret?
I’ve studied icons and know the remarkable traits they all share. I even host a new podcast called Icons Incorporated that focuses on the stories of iconic brands and businesses. Icons always have significant and audacious goals. They are extreme pioneers and revolutionary.
True icons tend to be in a category of one. You have to own your industry.
Embrace your excellence.
When I see true genius and witness a superstar rising I can see it. They can achieve anything and they will magnetize the most incredible people to them. They’re also producers who bring ideas into action, and their personal brands are attached to their business.
How to become an icon has nothing to do with having a million followers. It has to do with being that elite expert in your niche. We’re not relying on a volume-based business.
The highest end of the market is willing to invest in transformation, leadership, and excellence.
If you’re going to set yourself up as a personal brand that becomes an icon you should have a deep honest and true conversation with yourself about that legacy you want to create. An expanded vision of what you want to achieve with your life. If you’re dreaming of the moon, take yourself to Mars.
And… like I keep saying… take those genius qualities and your audacious dream and actually get off your bottom and make it happen. Go take the action. Icons don’t wait.
The term success has different meanings to different people. What is your definition of success and has that evolved over the years?
My definition of success has certainly grown over the years.
I had an e-commerce business that was very successful, I was ambitious and competitive. Now, it’s all about that feeling of changing the world. With my companies now, our clients constantly tell us we have transformed their lives and I never take that lightly. It’s immensely satisfying and that’s when I feel successful. It’s way beyond wealth or the amount of awards on the wall. It’s everything about integrity and impact.
Photography by: Courtesy Business Bravery, Visual Stories