In this episode of the Thoughtful Entrepreneur, your host Josh Elledge speaks with the Owner & Founder of Thrive On Purpose, Lani Dickinson. Lani Dickinson is a business mentor who works with early seven-figure entrepreneurs and multi-seven-figure earners. Her mission is to help these entrepreneurs professionalize their management, create systems that generate predictable revenue, and prepare for a potential exit. This allows them to enjoy time and location freedom without the risk of burning out. Lani shed light on the common pain points that early seven-figure entrepreneurs often face. One of the most prevalent issues is the tendency to take on too much of themselves, which often stems from an inability to afford a team. Lonnie emphasizes the importance of creating cash flow and building a monthly recurring revenue stream to multiply the business's revenue. Another common struggle is the difficulty in delegating critical tasks to others. Many entrepreneurs at this stage have an identity tied to their work, making it challenging to let go and trust others with crucial aspects of their business. Lani also addressed the cash concerns of early seven-figure companies. She explained that growth and scaling require cash, and the post-COVID labor shortages and increased wages have only added to these financial challenges. Moreover, she pointed out that entrepreneurs often lack efficient delivery systems and haven't identified the exact value points that drive customer satisfaction and loyalty. This lack of clarity can lead to inefficiencies and missed growth opportunities.

Key Points from the Episode:

Lani Dickinson's work as a business mentor for early seven-figure entrepreneurs and multi-seven figure earners
Common pain points for entrepreneurs, such as the need for a team and cash flow concerns
The process of professionalizing management and preparing for a potential exit
The importance of creating cash flow and building a monthly recurring revenue stream
Challenges faced by early seven-figure entrepreneurs, including trying to do too much themselves and struggling with delegating tasks
Cash concerns for early seven-figure companies, including post-COVID labor shortages and increased wages
The importance of having a clear vision for one's life, loves, legacy, and impact
Making difficult decisions and navigating necessary changes in businesses
Attaching a cost to desires and understanding the sacrifices and investments needed to achieve them

About Lani Dickinson:

Lani Dickinson's journey is nothing short of inspirational. Starting with a challenging childhood, where her mother was involved in drugs, Lani became a mother at 18 and dropped out of school. However, she turned her life around by obtaining a GED and pursuing higher education. Her determination led her to become a nurse, and she didn't stop there; she earned an MBA and successfully built two side businesses into multi-six-figure ventures. Her corporate career is equally remarkable. Lani became the CEO of a Fortune 175 company, a position held by less than 5% of women. After 25 years in the corporate world, she left her CEO role as her business approached the seven-figure mark in under a year. Now, as a business mentor and strategist, Lani dedicates herself to helping entrepreneurs, particularly those transitioning from corporate careers. She emphasizes embedding essential systems into businesses to achieve sustainable success, minus the bureaucracy. Her approach aims at helping her clients gain true time freedom, increase profits, and create a business that operates independently. Lani's philosophy combines her corporate experience with an entrepreneurial spirit, emphasizing the importance of team-building, data-driven decision-making, and financial management.

About Thrive On Purpose:

Thrive on Purpose is an empowering program for women entrepreneurs running service-based businesses. The core mission is to enable these women to achieve independence from traditional corporate structures and the constraints of conventional employment. A key aspect of Thrive on Purpose is the dual emphasis on achieving time and financial freedom. This approach ensures participants can build sustainable, profitable businesses without sacrificing important life moments or personal commitments. Furthermore, the program stresses the importance of making a significant impact through their businesses, aligning personal values with professional goals. By participating in "Thrive on Purpose," women entrepreneurs have the tools and knowledge to create generational wealth. This concept extends the benefits of their success beyond their immediate needs to future generations. The program is about more than just business growth; it's about creating a fulfilling, autonomous lifestyle that resonates with personal and professional aspirations.

Links Mentioned in this Episode:

Want to learn more? Check out Thrive on Purpose website at http://www.meetlani.com/ Check out Thrive on Purpose on LinkedIn at https://www.linkedin.com/company/thrive-on-purpose/ Check out Thrive on Purpose on Facebook at https://bit.ly/WomanEntrepreneurThrive Check out Thrive on Purpose Inc on Instagram at https://www.instagram.com/thriveonpurpose/ Check out Lani Dickinson on LinkedIn at https://www.linkedin.com/in/lanidickinsonlive/ Check out Lani Dickinson on Instagram at www.instagram.com/lanidickinsonlive Check out Lani Dickinson on Facebook at https://www.facebook.com/laniadickinson Don’t forget to subscribe to The Thoughtful Entrepreneur and thank you for listening. Tune in next time!

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