When you first start a business, you are the CEO: not the Chief Executive Officer, but the Chief Everything Officer. You’re the marketing person the salesperson, the graphic designer, the customer service manager. Everything relies on you to get things done when you are in that first stage of business.
The first thing you have to do to scale your business is to go out and create money. You price your product or service, get it out there on the market, and boom. Next thing you know, you made a sale. You have proved the market wants what you have to offer.
All you have to do now is figure out how you had that success and then repeat it over and over and over again, until you get the amount of money you need to start investing back in your business.
I highly suggest you get the book, “Profit First,” by Mike Michalowicz. It will help you structure your finances so you can always be profitable in your business. This way, when you get to that point where you need an extra body, you will have the cash flow to handle that.
Example:
Dec 2, 2013 my business was all me. It took about four and a half months to make a six-figure income. I took that money and hired a few assistants so I could create leverage. There are certain things in my business that I love and want to do myself, and there are certain things I hate and want someone else to do.
There are four lists that you want to create and continuously look at as a business owner:
- First, list every single task you do in your business. Email, phone calls, appointment setting, graphic design, product creation, and anything else that you do.
- Next, list the things on list No. 1 that you don’t want to do or are not great at.
- Now make another list of the things you love to do and want to do more of.
- Finally, list everything from list No. 2 that you can automate, delegate, or outsource.
After you create your lists, you want to track your time. Find out how long each task you are doing is taking. Then, once a week try to eliminate something from your list. Automate something, delegate something, or hire someone to handle something. Over time, list two will disappear, and you will have leverage with time and money in your business.
If you have any questions about this process, I would love to have a 10-minute call to discuss it more with you. Sign up here.
