5 Things I Wish I Knew When I Started Scaling My Business
I am smack in the middle of launching my Maverick Mastermind. That means that my brain is firing on all cylinders with thoughts of growing + scaling businesses the right way. Maybe you’ve noticed the theme! Today I’m bringing you 5 more things I wish I knew when I started scaling my own business.
I see so many entrepreneurs make the same handful of mistakes when they are starting to grow and scale their businesses. I want to shed some light on these mistakes because the (scary) thing about these mistakes is this: we don’t usually know we’re making them until the damage has been done. If you haven’t yet, check out my previous blog post to read the first 5 Mistakes Entrepreneurs Make When Scaling Their Business. We truly don’t know what we don’t know.
I share all of this not to point fingers or to make anyone panic about what they may or may not have done, but because I truly want to equip you to change the course of your business (and therefore life) if you do find yourself making some of these mistakes.
I’ve been there, and I’ve found my way to the other side. I’ve scaled two very different businesses to the point where I do have the freedom of income, independence, and time (the IIT factor), and my favorite thing to do in my business is to lead other entrepreneurs to this same place of freedom.
When you have an awareness of where you’re going wrong, a vision for where you want to go, and the guidance to get there, you are unstoppable. I want that for you! So let’s dive in!
#1: Your Business Model Needs to be Scalable
This principal is plain and simple. Many business owners just don't have a scalable business model. Whether they are heavily retailing a product and have to depend on those sales, or they are constantly taking on more one-on-one clients or speaking gigs or in-person events, they are the only one doing all the work.
There has to be space to scale and to grow. If this is you, go back to your roadmap. Shift your business model to something that will allow you to get to the next level while creating passive income.
#2. You Shouldn’t Be Piecing Everything Together
Trying to piece everything together yourself from different resources is the fast track to feeling confused, overwhelmed, and burnt out. Don’t get me wrong, there is so much valuable information out there. It's such a gift. We can find everything we need online. We have access to people we never could have reached in years past because of the world of online businesses, but sometimes that can serve as a distraction.
When I was getting started, I invested in multiple online courses, I went to live workshops and events, I read different books, listened to different podcasts… I was trying to gain the wisdom and direction I needed from so many different sources and gurus.
I didn’t know it back then, but it was actually slowing me down. When you do it that way, you can't piece it together in a fluid way or in a way that's personal to your business and vision. I thought I was saving time and money by doing courses, which are obviously cheaper than hiring a coach or joining a mastermind or participating in group coaching. But hear this, if it's not moving the needle in your business, it's not saving you money. It's costing you money because as an entrepreneur, time is money.
The year I joined my first mastermind, I invested way more than I ever had before and within a few months the spark was lit and someone poured a truckload of gasoline on the fire. I was earning more than I ever had in my entire life. Obviously, you get out what you put in, but it was the first time I had people way smarter than me 100% invested in me and my mission.
#3. Don’t Try to Scale Your Business on Your Own
When you are just getting started, chances are you are trying to do everything on your own. That’s understandable. But you need to know when it's time to expand your team and start outsourcing. What could go on your Not To Do List? Should you be bringing on a partner? Should you be hiring a team of people? Should you have a virtual assistant? Should you have multiple assistants? Should you start outsourcing your podcast editing? What is it that is currently on your plate that should be off your plate because it's preventing you from scaling?
You have to start valuing your time. It is your most precious resource. We want to build a business model that's going to give you more of it.
#4. You Can’t Create Magic When You Are Uninspired
Trying to force creativity from an uninspired place will destroy momentum in any business. When the business owner is continuing to create from a place of being tired and uninspired: Stop, Drop and Roll, people. That is a fire. You aren't doing your best work or inspiring anyone else when you're not inspired yourself. Inspiration is not something that's just going to hit you like a lightning bolt. You have to create it and generate it.
If you're there right now, make a conscious decision today to get out of it. Life is way too short. You've got to reconnect with your purpose. Reconnect with your vision for both your business and your life. Work with the right people. Build the right team. Have the vision and the goals and the mission that you stand behind. Live and work from a place of knowing that you're stepping into your purpose every single day. That even the mundane tasks are serving the mission.
Show up for your life. Get inspired and get out of your own way. It's time to identify what you want and go after it because if not now, when?
#5. Time Will Not Solve Your Mistakes
The biggest mistake that leads to the most tragic ending every time is this: entrepreneurs, brands, business owners, creatives, influencers, you name it--they think that time is going to solve their problems and it never does.
Don't fall into that deadly trap. Don't convince yourself that if you keep hustling, if you keep working hard, if you keep envisioning what you want, if you keep signing more and more clients or retailing more and more products that someday you're going to be absolved of all your mistakes. It is a fatal error thinking that time will course correct you and that you'll end up exactly where you dream of going.
You are a CEO! Take ownership of what you've created this far. Celebrate what you've done. You have already done what so few people ever do.
Then celebrate the fact that you're opening your eyes to what's actually possible. Set your sights on the true dream that is yours for the taking and build the business that supports that dream.