Did you ever wish you had a clone who could take the pressure off your Chief Everything title?
Maybe you feel stuck and are resisting building a team. Don't worry, it's totally normal and there are many reasons for the resistance, here are some of the most common:
But let's lay out the facts...
Did you know that if you run a solo business with no employees aside from yourself, based on the national average here in the US you can expect to make a piddly $47,000 - $60,000 per year?
And even more fascinating, if you keep working solo... and work really haaard, you can maybe make it to $100,000 - $200,000 a year. Then something happens and most of those businesses hit a wall. Revenue gets stuck.
So what happens when you start to hire employees?
You make more money.
According to an American Express Open Forum survey, businesses with 1 to 4 employees generate an average of $387,000 in revenue per year. Businesses with 5 to 9 employees average $1,080,000. The numbers keep growing exponentially from there.
If you want to keep growing and scaling, eventually you will have to build a support team and hire employees.
Being the "Chief Everything" officer may work at the beginning of your business, but at some point, you have to embrace that even you can't do everything yourself.
Let me reassure you, I don't really like leading people and I've always created a deliberately small team with part-time assistants and key contractors who have specialized skills (video, graphic designers, tech experts, specialists, etc.)
That said, I also have a support team at home to help with the tasks that make my life easier and allow me to show up more fully for my business, myself, and my family. I’m not above cleaning my toilet or folding my laundry, but nobody is paying me to do it, so it’s not worth spending my limited time and energy on it when I can outsource it. I also have a pool guy, gardeners, babysitters, dog walkers...and I'm good with it! I deserve to be supported. And so do you!
There is no one-size-fits-all when it comes to building a team, but let's be clear - NOT building one comes at a cost.
Every hour you spend on your business (especially if you focus on income-producing activities or creating passive income sources) will positively impact the lives of your family and the people you serve. But if you are stuck folding endless loads of laundry, cleaning your house 24/7, or doing the tasks that drain you in your business you can't grow your business!
Here are a few things to get started if you are ready to be more fully supported, start outsourcing and hiring...
Chris Drucker, author of Virtual Freedom: How to Work with Your Virtual Staff and Buy More Time, Become More Productive and Build Your Dream Business, is an incredible resource - he has a list of 101 tasks to outsource. Google it!
He also suggests you make "3 Lists to Freedom", the title alone is phenomenal:
LIST #1: Things you hate doing.
Maybe it's bookkeeping, customer service emails, scheduling clients, sending product samples, social media, or sending out your newsletter. When you dislike something that much, you generally procrastinate on it or don't do it well. Outsource it!
LIST #2: Things You Struggle To Do.
Get honest about your weaknesses. For example, my video editing skills are horrendous! And once I finally hired a video expert not only did it elevate my brand, my business expanded and I made more money. Where would pay for some expert to support your growth?
LIST #3: Things You Shouldn’t Be Doing.
Get honest, what are things you need to give up doing? It could be doing your own customer service emails, packing, and shipping products, trying to fix your website, or doing your own graphic design. Get clear about what’s actually income-producing and what you're doing because you're being cheap or you feel like you ‘should’. Not everything has to be your responsibility.
Like most things in life, you have to be brave and take action before you are ready.
You have permission to start small, as long as you START. Most of the women I coach tell me, "I only wish I had done it sooner."
Abundance is yours.
P.S. If you are ready to get serious about making money + impact in your business, then you need to join Money Mastery Academy.
It's got everything you need. A supportive community, monthly coaching calls, training to help you develop a kick-ass money mindset, strategic tools to build your roadmap to wealth, and more! It’s truly a ticket to freedom. Join here.