Episode 072: Show Notes
Well, ya’ll know by now that we are pretty much transparent about everything we learn in our business. We immediately take it and we turn around and teach it because we don’t like to hold back. We are over-sharers by nature. You get the good, bad, and the ugly with us and that’s what we are doing today; over-sharing again. Today, we wanted to dive in deeper about the business roadblocks that we have faced.
At the beginning, we consumed a lot of content from people who we knew and who we trusted, and who we saw were doing big things. One of the important pieces that not everyone talks about are the mistakes that they have made in their business and what held them back and prevented them from making more money, faster. So that’s what we’re going to talk about today. We are just human and we make mistakes like everybody else and the thing is, if we could do anything, we want to help you avoid them or at least make them less bumpy, less crazy, less long and drawn out, and help you find the solution quickly. So let’s jump in a get started!
Investing in Systems to Make More Money in Your Business
Although in the beginning Abagail was super hesitant in investing our dollar bills in the business, we finally made the switch from the free version of MailChimp over to the higher, paid package of ConvertKit. It absolutely changed our business and we don’t know why we did not do it sooner! Although it is great to bootstrap and build a debt-free business, which we still have, there definitely comes a point when that mentality and that block prevents you from success. We also chose to invest in Teachable as a course platform, because after crunching the numbers it absolutely made sense to invest for the return of looking like a business and increasing our course revenue.
Growing Your Team To Increase Your Income
The next business roadblock we faced was being too hesitant to hire someone and invest in our team. We could not see how spending so much money on people could increase our business income. As CEO’s of our business, we did all the work ourselves and so we knew exactly where in the business it would be worth bringing someone on, and where it would not. Seeing the ROI of a contractor can sometimes be really hazy, especially in the beginning. Because when we first started hiring we were literally just getting things off our plate, and not specifically trying to add to our bottom line. But, by getting things off our plate, we were allowed to focus on things that would bring in more profit and thus our business grew significantly!
Taking a “Breath” and Re-evaluating Your Strategies
Instead of merely focusing on what can bring money in the door now, it is important to think about the bigger prize and start laying lasting foundations for your business. You have to stop and take time to reassess the strategies you are implementing in your business instead of only worrying about chasing invoices and dollar bills. We spent so much time present-focused, doing what we needed to do to get through the week that we did not take the time to stop and re-evaluate if what we were doing was actually working. With two launches a month and the constant hustle of getting something in front of people to sell and then moving onto the next thing, we never had that opportunity. So we really had to take a good long hard look at literally how we are doing our business.
Creating Workflows and Processes For Your Business
Often times you can get so focused on work that you don’t think to create your workflow. When you create a process and a workflow of something that you do all the time, you will be spending less time wondering if you are forgetting a step and more time actually getting things done. You have to remember that you are the CEO of your business. It is important to put processes in place so that you can run your business and so that your business does not run you. The bottom line is, you have to start replacing yourself as an employee within your business and take steps to take on the CEO role more. We want you to be running the show and calling the shots!
- Understand why investing in systems can help you make more money in your business. [0:05:20.4]
- Find out how investing in growing your team can increase your business income. [0:14:31.3]
- Learn why it is important to take a breath and reassess the strategies you are using in your business. [0:25:59.7]
- The importance of creating workflows and processes for everyday business activities. [0:31:33.6]
• “You have to have the tools to do your business.” — @abagailsays [0:13:11.6]
• “I don’t want you as just the employee of your business anymore. I want you running the show.” — @emyleesays [0:37:05.3]
1. Get your booty over to bit.ly/PerfectBizRoadmap to join our free master class.