Here’s a serious question, when you got into business did you think it would be easier than working for someone else? Was it your belief that money would be a result of productivity, that your ideal client would be drooling over your content, and engagement would naturally occur from the incredible value you worked so hard to deliver?
The truth is, many aspiring entrepreneurs go into business overly positive with the, “If you can dream it you can build it” mentality, but it’s not quite the straight path they envisioned. This overly optimistic outlook is a typical result of visionary blinders. These very same blinders often give entrepreneurs false hope in goal setting and expectations.
The more tenured business owner understands that visioning is great but entrepreneurship can’t be held together by duct tape and match sticks, you must WORK to get results. Work through trial and error, testing, creating success, evaluating failures, and taking massive risks.
Business is simply not for the faint of heart or for those that consider this lifestyle more of a Jobby!
Business ownership is the real deal, it’s committing to a life filled with questions, creating solutions, and making waves bigger than you could ever thought possible. But in order to turn this dream into a viable reality you need to be prepared with some foundational elements that can help you to catapult your business.
These very same elements are those that I stood on as I helped to build a multi-million dollar Real Estate coaching empire and my very own Consulting business bringing in multi-six figures within my first 18 months. Each of these businesses started from scratch having massive success in a relatively short amount of time.
How is this possible when so many starving entrepreneurs are working around the clock to just get by with a 6 figure business? The answer is all in your foundation, your willingness to take risks, and your ability to delegate where possible. You see, most startups put themself in a revolving hamster wheel as the owners refuse to hire and delegate. “I don’t have enough revenue,” “I don’t know where to start,” “I can’t hire when I don’t have consistency.” These are all very common CEO excuses for not hiring.
The crazy truth is, statistics show that 94% of service professionals spend over 50 hours working each week. Another study of UK business owners found that 70% of them prefer to do everything themselves. And, yet another study showed that companies with a fully engaged workforce are capable of generating twice the revenue.
What’s wrong with this obvious picture, business owners are working their life away to hold onto all of their tasks and do everything in their business alone. While on the other hand, businesses that hire a supportive team end up generating way more revenue. Not only is increased revenue a result of team support, but also an increase in time, better client experiences, increased retention and brand recognition, enhanced strategies, diversified offers, the list goes on.
While revenue and consistency both help with hiring, there are some very creative ways to make your first hire with very little to no revenue. Trust me, I’ve done this in my own business and for at least a hundred other small businesses. With that said, you do need to be prepared with the basic fundamentals that can help to propel your business and drive consistency.
Lead Generation, Marketing, Sales, Client Fulfillment – these are the four cornerstones of business that must have your attention. Below are simple fundamentals that can make the difference between a five and six-figure business.
Diversify Your Product or Service Offerings
Expanding your product or service offerings is a great way to increase revenue. By offering more products or services, you can tap into new markets and attract new customers. Diversifying also helps reduce your business’ reliance on a single product or service, which can be risky in the event of a downturn in demand.
Improve Your Marketing Efforts
Effective marketing is critical to the success of any business, and small businesses are no exception. By investing in targeted and personalized marketing efforts, you can reach new customers and increase brand awareness. Utilizing digital marketing techniques, such as search engine optimization, social media marketing, and email marketing, can also be cost-effective and highly effective ways to reach your target audience.
Focus on Customer Experience
Providing an exceptional customer experience can help increase revenue by building customer loyalty and driving repeat business. By focusing on customer satisfaction and addressing customer concerns promptly and effectively, you can improve customer loyalty and increase the likelihood that customers will refer others to your business.
Utilize Data Analytics
Data analytics can provide valuable insights into your business and help you make informed decisions about how to grow your revenue. By analyzing customer behavior, sales trends, and market trends, you can identify areas of your business that can be improved and make data-driven decisions to drive growth.
Seek Out New Opportunities
Expanding into new markets or exploring new business opportunities can be an effective way to increase revenue. By staying current on industry trends and seeking out new business opportunities, you can stay ahead of the competition and drive growth for your business.
What’s better is that you don’t have to do this as a solopreneur. You can hire a few part-time support roles as you begin to build out these critical areas which will in turn create consistency in all aspects of your business. Lead Generation, Marketing, Sales, and Client Fulfillment. These four cornerstones are the foundation and key to going from starving to thriving.
To learn more about how you can bring on your next ideal support role email me at: hiring@letsscale.io
Visit me at https://www.facebook.com/groups/ladieswhoscale
Check out my services HERE
