My Exact Business Plan for 2023 - Rick Mulready
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My Exact Business Plan for 2023

December 30, 2022

Happy New Year! 

In this episode of Art of Online Business, I am sharing my exact business plan for 2023. If you tuned in to the last episodes, you know I shared my biggest lessons and takeaways from 2022. So that provides a lot of context for why I set up my business plan for this year the way that I did. 

The problem was that I didn’t focus enough on the basics of my business in 2022. I didn’t give marketing the attention that I should have. I also didn’t focus on list building, getting on other podcasts, email marketing, or social media like I feel I should have. 

So today, I’m sharing the things that I plan to do in 2023 to get back to the basics as well as some other things I will be doing to add more simplicity to my business. 

 

In this episode, you’ll learn:

  • My plans for the Accelerator program
  • How I’m making revenue share partnerships a bigger part of my business
  • How I’m using my podcast for marketing
  • How I plan to improve on my email list building and email marketing
  • Why I plan to show up more on social media 
  • Why I’ll be repurposing more content
  • The reason I’m getting back to live paid content 
  • How I’ll be focusing on SEO this year
  • The way I’ll be using data and metrics in my business 
  • Why simplicity is my theme of the year

 

Links & Resources:

*Disclosure: I only recommend products I use and love and all opinions expressed here are my own. This post may contain affiliate links that at no additional cost to you, I may earn a small commission.

 

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Other Episodes You’ll Enjoy:

My Biggest Lessons and Takeaways of 2022

$1M From a $297 Course in Less Than 2 Years | w/Jessica Berk

Pricing, Wealth Building & Your Relationship with Money | a Dec 2021 Classic w/ Jacquette Timmons

 

Transcript:

All right. Welcome to the last episode here of 2022. Happy New Year, my friends. Hope your holidays are going well. This is the Art of Online Business podcast. I’m Rick Mulrooney and on today’s episode. I’m going to be sharing with you my exact plan for 2023, if you heard the last episode. I shared my big lessons and takeaways from from the year. And so you don’t have to listen to that episode necessarily before this episode, but it does provide context to this episode and the things that I shared in that episode. In addition to the story about my my kidney stone is their basics. I didn’t focus well enough on the basics in the business in terms of marketing. Anyway, for the past two years, and I shared examples of the things that I basically felt like I didn’t do well enough, including list building, being on other people’s podcasts, repurposing this podcast here, consistently emailing my list, social media. These are basic things. And so what I wanted to do today, and as I promised in the last episode, I want to share with you what I’m going to be doing to improve upon those things in 2023 and also some of the other things I’m focusing on in the business. By the way, it’s that time of year. You know that if you’ve been listening to the podcast for a while, I like to talk about sort of like what I see coming up. 

Not necessarily am I naming trends or anything like that, but I like to when we get to this time of year, talk about sort of the things I see coming and some of the things I see being really, really important. And so in the next episode I’m going to share with you a presentation that I gave to our accelerator coaching members at our live retreat here in San Diego back in October. And the title of next episode and the title of that presentation is called Simplified Scaling in 2023 and Beyond How the online landscape is Changing. So I’m going to share that presentation with you. Live here on the podcast if it’s live, right? Not a recording of that, but I’m going to be delivering that to you next in the next episode. And also I will talk about some trends that I see and sort of my thoughts on those. But I’m not like, you know, forecasting any trends or anything like that. So first and foremost, as far as the plan for 2023, first and foremost, I am going to continually be improving my accelerator coaching program. So if you are new to the show, welcome, by the way. Thanks for listening. If you’re new and you’re like, why does he keep talking about accelerator? Well, this is my one offer in the business. This is where we help establish course creators, membership creators, online coaches grow and scale their online business. Right. 

You’ve reached a point where you’re kind of like, not really sure what next next steps to take. You don’t know what you don’t know, etc. And you want a sounding board, you want strategy. You want to be surrounding yourself with other amazing online business owners. It’s a small group. I keep it that way very intentionally. That’s what Accelerator is all about. And so continue to be continually be improving that program, improving as a coach, improving the results that we are getting, our members, improving the overall experience of the program. It’s really, really good now and based on consistently getting feedback from our members, I’m only going to continue to improve it. This is one lesson that I really want you to incorporate into the new year. If you’re not already doing this, and that is to create a process or a system in your business to consistently be getting feedback from your students, from your members, from your clients, whether that is literally getting on a Zoom call with them in either. I would recommend doing it individually if you’re going to do that when you get on with a group. Somebody has a comment, the other people tend to sort of feed off that, whether they truly feel that way or not. And so I would be doing surveys, I’d be doing individual conversations. Just simple reply to this email. Any way that you can be getting feedback from your members, your students, your clients on a regular basis, and then using that information to continually improve your product, your offer, that is what’s going to make basically marketing not really necessary because the marketing will take care of itself.

When you deliver amazing results for people in and an awesome experience. Right? We had I talked about the marketing thing, some of the things that we could do better last year, but you know, the podcast, which is obviously the show here, is the major driver from a marketing perspective for the business and it continues. This is my seven. When did I start this, this podcast 2015. So all seven years, six and a half years of this podcast and it continues to do really, really well. I love doing it. No slowing down on this show, but, you know, we were I’m always grateful when the accelerators refer other people to the program. Other people are like, No, I want this to be my my little private haven because I love it so much. I don’t want to share with other people, and I totally get that right. But when you provide the most amazing experience possible for your offer, for your people in your offer and get people results, you know, the marketing is going to take care of itself, right? And so you always want to be iterating through the feedback that you’re getting from your members. A lot of people give up on their offers too soon because they’re like, Oh, you know, nobody’s getting results or nobody’s buying it or what have you. 

Well, improve it, get better. And that’s the that’s a huge takeaway there. Second, I’m going to take on a couple more revenue share partners. So a few episodes ago, I talked about this revenue stream that I added to my business in 2020 to something that has been around for years. Like somebody approached me about doing it for, you know, for my business back in 2015, like seven years ago. And long story, but decided not to do that. But anyway, I talked about this revenue share partnerships and how I’m going, what that is basically how it’s becoming a bigger part of my business. You know, everything that I’m doing right now is not not being taken away. I’m just adding this and I’ve started to add add to it in 2022. And so basically, if you haven’t heard that episode yet, very simplistically, a revenue share partnership is where I coach and consult with a business that makes sense for my audience, for all of you that I can plug directly into my business, if you will plug into my audience, plug in to my marketing channels like this podcast and my network of people that I know, etc.. And I only get paid if you’re making money, if the person I’m partnering with is making money. And so I’m going to be adding a couple more of those in 2023. 

And then third, the big the big other, the other big focus is my marketing. And this was the focus of the last episode of what I did not do. Well, you know that I talked all about last episode and by the way, in 2023. The I’m really streamlining my team even more so. I’m really happy with the direction. So once I. Do some more things with the with the team and so forth. I’ll share more of that with you. But I’ve gotten it to a point where it’s really streamlined, working really, really well, and I’m really, really happy with it. So I’ll share more about all that with you in Q one once I get a little bit further down the road here. And so in terms of marketing. So the first priority for me in terms of marketing is to grow the podcast here. Now, the podcast has been doing extremely well. We did two and one half million downloads over 12 months. I think it was November 20, 21 to November 2022. We did two. No, no, no. I take that back for calendar year 2022. We did two and one half million downloads, so it does extremely well. Right. And I’m super grateful for all of you listening. I also want to grow the podcast even more. As I mentioned the last episode. The podcast sits on top of the business, if you will. So I look, I like to look at it as like an umbrella. 

And so as the umbrella grows. Then more people come into the business. It just filters down into the rest of the business, if you will. So I know that if the podcast grows, then you know the business is going to grow as a result also. And so the ways I’m going to grow the podcast, there’s five different ways here. So number one, guest podcasting. I talked about this in the last episode, the very best way, if you have a podcast, the very best way that you can grow your podcast is to be on other people’s podcasts. Their listeners are obviously listening to the show, to their to that podcast. And if you’re podcasting and you’re talking about your show, then they’re oftentimes, if you’re a good guest, naturally going to come over and find you on your podcast because they’re already consuming the content that way. So guess podcasting, my plan for that. So here’s how I look at guest podcasting, number one. I know a lot of people whose shows that I would love to either be on for the first time or, you know, be back on. And I will make a list of those shows and people and I will reach out to them directly just because I have direct relationships. Then what I will do if there shows that I know that I’d love to be on and I don’t know that person who hosts, I oftentimes know somebody who knows that person. 

So I will I will leverage the people that I know, friends of mine who potentially could do an introduction for me. And then the third piece of that is what I’ve taught here on the podcast a lot is I will go into Apple Podcasts, for example, and I will find a show that I want to be on. And so I will write that down. And then if you scroll down to the bottom of that podcast page on Apple Podcasts, it will it tells you it says like other shows similar to this or something like that, or people also like something like that. And it will list out like 7 to 10 other podcasts that people also listen to who listen to the show that you’re looking at. Also listen to these other podcasts. So you can be like, Oh, I didn’t even think about that podcast. I’m going to add that one to my list. Ooh, I don’t know that person. So then the process becomes, okay, I don’t know that person. Do I know anybody who knows that person? And then if if the answer is no to that, then we go to make sure, obviously, that we’re listening to the podcast, we’re understanding it, and then we’re coming up with our idea. Know I talked about all that, how to do do podcast outreach. I’ll link to it in the show notes for today’s episode over at Rick Morty dot com.

Go to the podcast section. And then it will do my outreach that way through Instagram. I will DM people on Instagram and but only after I’ve done my homework. Right? Or somebody on my team has done the homework and then we’ve done we’ve done that. So it’s just like the types of pitches that I get literally multiple times a day where somebody fills in like, Hey, Rick loved your recent episode about and it’s like, fill in the blank of the latest episode. And then it’s all about them and their their their client who they want to get on the show anyway. Guest podcasting, first and foremost. Number two email list. And I’ll talk about email list growth here in just a couple of minutes. But email list is also an amazing way to grow your podcast because when you are growing your email list, you can you can give people specific podcast episodes, for example, on the thank you page of whatever lead magnet they just opted in for on the Thank you page. You can let them know, Hey, you know, I have a podcast and I’d love to recommend these whatever, 3 to 5 episodes that are directly relevant to whatever the lead magnet was that they just downloaded. And how cool is that? Rather than saying, Hey, go check out my podcast. Now you’re giving them links to specific episodes that are specifically related. To whatever they just downloaded. 

And so that is a great way to grow your podcast also. In addition to you can do the same thing like in your follow up emails. You can be sending people to specific podcast episodes, your weekly email that you send out to your list you can be talking about. I don’t love the whole send out, Hey, I have a new episode, here’s the bullet points, here’s the timestamps, and that’s it. Honestly, don’t love that like my coach does that. I personally like the way that he does it, but for the most part I feel like people. People are kind of over that. You know, I like to I’d rather tell a story and then how that’s related to the specific episode and then introduce the episode that way. So anyway. Guest podcasting. Email List. Social Media Growing the podcast. We’re going to be doing, as I mentioned a lot and let’s talk about this more here in just a couple of minutes. Content repurposing, right? So leveraging the existing content that I’m putting out, for example, this podcast right here that I also do video. I’m recording this on video. If you’re listening, if you’re watching, I’m also doing it on audio. So we put it up on our on our YouTube channel for the art of online business. And so repurposing that content, letting people, you know, to branding player an awareness play of, Hey, we’ve got a podcast right where we’re taking little snippets from each episode here, multiple snippets, and then getting them out. 

Podcast adds sort of the the fourth way here. So podcast ads, you can reach out to other podcasts that have your audience and ask them if you could be a sponsor of their podcast. And when we are if you do that. The idea there is to be sponsor or is to be advertising your promoting your podcast because again, just like guest podcasting, if people are listening to that podcast and they hear an ad about your podcast, they’re more likely to go check it out because they’re already consuming the content in that way. They’re already listening to podcasts. So that’s something that I think is only going to be talking about like kind of trends. That is something that’s I think is only going to get bigger in 2023, especially as YouTube gets into the game here when it comes to podcasting. So that is number one, growing the podcast. That is priority number one in terms of marketing. The reason for that, by the way, is. I would say I don’t have an exact percentage, but I can honestly say without a doubt, I would say 97% of the applicants that I get for my accelerator coaching program hear about the program through this podcast. And so again, so it’s like, okay, if I know that’s happening and I grow the podcast, then logic would say that I would get more applicants for the program. 

So cool. That’s why I want to grow it, right? And the other thing, too, by the way, on about the podcast, for a long time I thought it was. An awareness play, a branding play, a positioning play. Right. And when you’re early on in the podcast, if you have a podcast and you’re just new, it’s still new to it. It is very much that for me, what I found that this this podcast has become really my conversion tool because of the reason I just shared like 97 to 98% of the people who apply. I asked people on the application, How did you hear about me and the program? They say podcast. So this podcast is a conversion to I know people that have been that have been listening to this podcast for years and then then they’ll finally apply because they’re like, All right, I’m ready for this now. I’m ready for you to get your help on helping me grow my business. And I know what you can do because I’ve been listening to you for years. And so this is this is a conversion tool, if you will, for the business. And so that was really kind of a shift for me in thinking about the podcast in the latter part of 2020 to hear. So anyway, that’s why growing the podcast is the number one marketing priority for 2023. The second thing, and I talked about this in the last episode, sharing what I did not do well. 

And the second priority in terms of this is in terms of marketing is list growth, email list growth, email list growth. I’m saying out loud to myself many, many times, you know, and it’s it’s it’s very again, as I if you heard last episode, I was like, I don’t have a good reason for why I haven’t done this. Like, it’s a big regret of mine and I’m going to change that. And I have some really cool ideas for lead magnets. I have two really cool ideas. One of them I might even do a workshop on and charge for it. That’s a whole other thing. I’ll talk more about that coming up. But you know, improve lead magnets that because if you go to my site right now, I remove the quiz. If you’re coming to this at the end of the year, you’re going to see a redesigned website. I have simplified the crap out of the website. I found that that the last site was very I got a lot of feedback from people saying it was just really hard to navigate and wasn’t easy to find things. And so we have simplified it and we’ve really sped it up as well. And so anyway, improve lead magnets, that is from an email list growth perspective. Get that in place then from there. And here’s a here’s some lessons for you. If you’re going to be setting up a lead magnet to grow your list.

All right. It’s like, all right, lead magnet. Want to create that and simplify it? You want the whole thing is and I’ll do an episode coming up here about I’ve done it in the past, but it’s a couple of years ago about what’s what makes for a great lead magnet. And I did an episode recently or in the past few months with Neil Williams. From Neil Williams and a link that up in the show notes for today’s episode as well. But talking about what makes for a great lead magnet, well, I’ll be creating the lead magnet then. You obviously want some emails following up and because the lead magnets are going to be relevant to the level of course, creator, membership creator online coach that we help in accelerator, then I can set up an email, some email marketing email funnel, if you will, that will lead people to an application if they so choose. So improve lead magnets, emails, then obviously ads we can run ads. That’s easy. Youtube going to say YouTube because if you’re listening. Well, yeah, yeah. Rick whatever we’ve been hearing you talk about YouTube forever. I’ll just say YouTube, it’s there, don’t you worry. And then social media, we talked about social media last time. I really want to start showing up more there when it’s an alignment with me and what I’m doing. I think it is important for for me, like I did an episode in 2022 that people really love. 

They said and I talked to all about you don’t need to do social media in order to have a seven figure business, and I’m living proof of that. But I do think that there are some things that excite me and I want to be doing a bit more of that. So email list Growth Second Marketing Priority. Third one is the email marketing. And I just kind of just mentioned it both weekly and, you know, I want to do two emails per week. And then also based on the specific lead magnets that I put out like I just mentioned. So email marketing kind of right there with the email list growth. The next one is content repurposing, and I mentioned that earlier. You know, I’ve been doing a video version of this podcast now for over a year, so I have a lot of video content of the podcast and I’m I’m in the middle right now at the time recording this. In the middle of December. I’m in the middle of testing, working with a repurposing software as a service or repurposing SAS, if you will, and I’m going to be reporting back to you. But it’s all about short form video. My friend, you know, this is should not come as any any shock. I’ll talk more about that in the next episode. But the the more that I can leverage this long form content into short form content, put the short form content out there, which ultimately is going to drive back to the long form content, i.e. 

the podcast here. That’s what the goal of repurposing is, is to drive more awareness for the podcast is kind of like the, the, the circle of content, if you will. You’re starting with a main piece of content, then you’re cutting it up and doing snippets and stuff like that and putting it out on social. In terms of the short form video, which ultimately is a drive people back to the long form content. So very circular. So content repurposing. The next thing I’m going to do is I’m going to be getting back to doing live paid workshops again like I was doing three years ago. I really enjoy them and people really, really like them. And the one reason I’m doing this is, number one, I really enjoy doing them and I just like to overdeliver on like for whatever somebody’s signing up for. I’m very likely just kind of a hint. I’m very likely the first workshop I’m going to do. I don’t know when it’s going to be in Q1, but very likely the first workshop I’m going to do is around data and dashboards and metrics and analyzing that data. So if you’re like if you’re seeing this, then do this. That’s just a just kind of fleshing it out in my head. 

But anyway, more live workshops. They and the idea there on the live workshops is you sign up for the live workshop, you you purchase it and you get access to it for you own you own the content. But then on, I will also offer an application to accelerator, right? And so again, I’ve been sort of doing that like three years ago, and it worked really, really well. I want to get back to the next thing, and I kind of alluded to it earlier and I talked about it. I’ve redesigned my website, so it is much simpler. It’s way faster and it’s easier to navigate. And like I mentioned, by the time this episode comes out, it’s very likely live. So if you want to go check it out. Rick Mull, Radio.com. And we’re going to continue that project as there still some outstanding outstanding things to be done like you know the entire back catalog of the podcast here. We’re going to be moving the remaining number of pages over and so on. A big reason for this, in addition to the speed, the simplicity and easier to navigate because I got a lot of feedback throughout 2022 on how slow it was. It was complex, it was hard to read, etc. We’re going to be focusing a lot more on SEO in 2023, and I’m going to talk more about that in the next episode. But yeah, very much focusing more on on SEO in 2023 and helping me with that effort in initiative is my good friend Garrett Melich from SEO Leverage and is amazing. 

So we’re going to be focusing more on SEO in 2023 as well. And lastly, and certainly not least, is measuring all of these efforts. Measuring all these efforts. You are going to hear me, my friend, talk a lot about data and attribution and dashboards and metrics. If you’ve been listening for a while, you know, I talk all about numbers. And if if I’ve got on a call with you, you know, I’m taking out my phone. Go into the calculator and we’re doing numbers because this is all data, my friend. The biggest mistake by far the I see people making continuing to make to this point right now is they are doing their marketing, they’re running ads, etc., but they have no idea how successful or not successful their efforts are and they’re just spending money. And that is just might as well throw out, you know, just open the window and start throwing money out because we have no idea how well those efforts are performing. We have to know those things when we are measuring. And marketing. And so I said, measuring right, we have to do other things, more marketing. And so data, data, data attribution, if I spend which ads are performing the best for me, you know, is my podcast driving, you know, whatever leads or applications or whatever it might be, you have to be able to get the data, trust the data, which is a hard thing and have some form of dashboard as a CEO that you can look at or that your marketing manager can look at.

And so you have an instant snapshot of the health of the marketing of your business and sales. We have to know that, and especially with so many things coming that are going to be changing in I mean, you know, Google Analytics, as we as we know, it’s going to be going away in July 2023. It’s all moving the G four. There’s a lot of changes happening. We’re moving to a towards a cookie list world, if you will, online. We’ll be talking a lot more about that. We’ve got to be measuring our efforts. And so all the things I’m talking about here, we have to be able to measure these things. And that is one of the focuses for for me as well. And so big lesson for you right there, if you are not, you know, actually quick story. Somebody came to me recently and said, I want to scale the business. I want you to I want to work with you to to scale my business. And I was like, all right, great. We started to dive into things and I was like, Well, wait a minute. We can’t scale anything. We shouldn’t scale anything until we know what’s actually working. 

All the things that you’re doing right now, all the money that you’re spending on ads, etc.. We can’t directly attribute to results. So we don’t want to scale anything until we get that all that foundational stuff in place so that we know what’s actually working, what’s not working. You know, if my spending my time in the right areas, am I spending my money in the right areas, etc.. So you’ve got to have that foundational stuff in place in your business before you start scaling. And it’s the you know, it’s the boring stuff, right? It’s the numbers, it’s the data. But we have to know that in order to know what we need to be focusing on going forward. And what I love about data and I’ve talked about it here on the show, what I love about data is that it has no meaning. It’s just data. We use the data to try to tell the story of what’s actually going on in the business, in our marketing efforts, etc.. And so. This might sound like a lot all the stuff I’ve just shared with you, but some of this is already in motion. And of course, I have help with my team. But I’m really, really excited about all this. Growing the podcasts, growing the email list, the email marketing, the content, repurposing the live workshops, the website redesign. Well, well, well underway. It’s it should be live by now. And you’re listening to this and then measuring these efforts. 

Now, what we do with all this is we lay all this out, we prioritize it. And then we put a plan in place. This is not going to happen in January. You know, this stuff is going to be happening, a lot of it over the first several months of the year. So we put a plan in place. And then we have somebody on the team who oversees the implementation and making sure that things get done. And they’re letting me know what they need for me in order to get something done. So, for example, the lead magnet, whatever. So I’m going to be so the idea will come from from me. Not that it can’t come from other team members, but will come from me. I already know roughly what’s going to be a couple of them, really good ones, and then I will come up with the actual content of it, but then somebody else can create it. So growing the podcast, Guest podcasting. I am not one who likes to have other people reach out on my behalf, on my behalf. If I want to be on a show, I’m going to reach out myself. I don’t like it when I know people and they have somebody reach out for them. It’s like, Come on, really. But anyway, all those things in addition to, as I mentioned, improving accelerator, taking on a couple more revenue share partners, I’m very particular about that. 

Very careful. And then obviously the marketing here. The team stuff. As I mentioned earlier, I’ll be sharing more about that in Q one, because we’re you know, we’re continuing to streamline there, which I’m really, really happy about. So yeah, and what I’m going to do in 2023, by the way, is I’m going to be doing episodes throughout the year where I’ll share updates with you on what I’m doing specifically and the results that I’m getting or not getting. I’m going to be doing more of that on my email list, sharing each week, kind of like the things that I did that week, sort of from an insider perspective as the CEO of the business and also coaching. Right. Some of the things I learned, what did we do? What worked? What didn’t work? Et cetera. Over on the email list. So there you have it, my friend. That is that is the the focus or focus is for 2023. And I would probably say everybody’s like, well, what’s the theme of the year or whatever? And, you know, mine is probably going to be back to basics and simplicity. You know, it’s kind of always simplicity, but really back to basics. I have you know, I’m not one that necessarily looks at like, oh, this is my financial goal for the year. Of course, I have an idea of what I want to do. And I also know exactly how to hit that that revenue number. 

And so what I’m doing is just sharing with you, I probably should have started with this is I’m sharing with you These things I’ve just shared are part of the plan to achieve what I want to achieve in the business in 2023. So we can’t control whether we hit a revenue number. I can control that. I reach out to, you know, ten potential podcasts this week to see if I can be a guest on their show. I can 

control that. I can’t control if they say yes, I can’t control if that drives business, none of that. But what I can control is the action I take on it. I can’t control the results from from those things. And so that’s how we kind of look at. As far as planning goes and just kind of work backwards from that goal. I know what I want to do. I know what I want to be achieving. That’s how I’m looking at planning out, planning out the year, you know. So there you have it, my friend, as my exact plan for 2023. If you have any questions about this plan, shoot me a DM over on Instagram at Rick Moretti. And I’m more than happy to expound on anything that I’ve just talked about or share with you some of the things I’m won’t be doing. Or, you know, you’ve got a question for me. More than happy to try to answer that for you.

And if you are interested in Accelerator, its a six month program you get it’s a one on one coaching group coaching and mastermind experience all wrapped up into one. And as I mentioned, the beginning of the episode, this is for established online course creators. Maybe you’ve got a membership or you’re an online coach and you’re looking to take things to the next level. Just not really sure how to get there. And you want to simplify things on the way and you want to be working way less in the process while growing and scaling the business. So what we do is focus on leadership. Being the CEO, we focus on ethical marketing, we focus on team and we focus on systems and processes. So those are all the areas that we focus on and I help you with in your business. If you’re interested in applying, go to Rick Mul Radio.com Forward slash accelerator. It’s a short application there, obviously it’s application only. I keep it very small. No more than 32 people in the program and on that page has the price has the details. Everything that you want to know about the program right there, it’s all right there on the page for you. So thank you, my friend, for listening. Happy New Year again. I appreciate you. Thank you for making 2022. It really was an amazing year. Thank you for that. And I’m so excited for the New Year coming up. Until then, my friend, be well, I’ll talk to you soon.

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