Hate Managing? Then Stop Delegating, And Do This Instead.

There’s a pretty standard team-building formula out there for online businesses these days.

Figure out the tasks that you like doing the least, and then find someone to it for you.

Do that over and over, until you’re only doing the stuff you love.

Get someone to do Facebook ads, someone to do copywriting, someone to answer emails, someone to manage projects, someone to figure out how to set up and maintain your funnel …

And then once you’ve assembled this cast of characters, everything will go smoothly.

Except that, with every person you bring on, your management responsibilities grow …

“I didn’t get into this business to be a manager,” you say, and you’re right.

So then, you try to solve this problem by hiring … well, someone.

You’re not sure who.

Sometimes, it’s an OBM. Sometimes, it’s a project manager. Sometimes, you just think of them as a “magical unicorn” …

And guess what? It doesn’t solve the problem.

But here’s the truth:

The problem isn’t your ability to manage, or even necessarily the people you’ve hired.

The problem is that the word “delegate” is a verb.

Which means that someone still needs to be doing the delegating … and of course, that person is you.

So even though you’ve delegated the actual doing of the work, you haven’t actually handed over ownership. Everyone and everything still runs through you; you’re the final approver, the decision maker.

Instead, if you want an amazing team that functions as a team, you can’t just hire minions.

You need to hire your future leaders and managers.

You find people who can own their area of responsibility. Who are fully empowered, responsible and accountable for their areas of success.

You seek out the people that are better than you at the things they do.

As such, you don’t need to have all the systems and SOPs and structures in place before she hires them. You can hire then and then direct them to build the systems based on their expertise.

Yes, the systems still need documenting and they also need to be made consistent across the organization.

Yes, you still need to onboard your team into the culture and mission and vision of the company, and also make sure they have the guidance and direction they need to make the decisions.

But you don’t need to hire people to do things “your way.” You need to hire people who, in doing it their way, will make things even better.

This is a big difference.

Hiring leaders, hiring your future managers, hiring the people who will form your leadership team is so much different than hiring a group of people who are just technicians.

Yes, they also have to be proficient technicians. But they need to also be strategic thinkers. They need to be able to drive strategic execution. And they need to be better than you, so that they can get better results than you could ever get on your own.

Listen Now! The Key To Customer Testimonials

Originally Published at: ProfitFirstProfessionals.com

On this episode we talk with Breanne Dyck. She will talk to us about how to look at testimonials in a whole new way. You want your prospective customers to be able to see themselves as your customer which is why customer testimonials are so important. She will walk us though how to make customer testimonials the rule, not the exception.

Listen Now! Lessons from Pre-$1 Million Businesses

Originally Published at: TaraGentile.com

My guest this week on the Profit. Power. Pursuit. podcast is Breanne Dyck who published an interesting article earlier this year called “15 Lessons for Pre-$1M Online Businesses” that got a lot of play in our community. Breanne learned these lessons as she built her own business as the founder of MNIB Consulting Inc. and as she continues to help others build theirs. In this episode, we explore some of the lessons she wrote about with a focus on how they impacted Breanne’s business, MNIB Consulting.

Your Revenue Goals are Lying To You

Your revenue goals are lying to you.
 
And they are a big part of why you feel like taking the next step in your business is impossible.
 
See, if your goal is to bring in $500k annual revenue, that doesn’t mean you’re building a $500k business.
 
It means you’re building a $840k business.
 
Why?
 
It’s math.
 
Right now, let’s say you’re doing $120k in a year, or $10k/mo.
 
Well, a $500k business means that on AVERAGE, you have to be doing $40k/month in revenue.
 
Which means for every $10k month, you need to ALSO have a $70k month.
 
And if you did $70k each and every month, you’d be at $840k in a year.
 
So what your 12-month goal of making $500k REALLY tells me is that you want to have built a business that is capable of doing at least $840k in a year.
 
And if it’s not, then you need to re-evaluate your goals.

The Biggest Mistake That Keeps Online Business Owners Stuck at $250k

At the end of the day, the math is quite simple:

In order to have a $1m online business, you must be able to generate $1m in sales.

All the structures and systems in the world are meaningless if you don’t have something to sell — some way of serving people; of exchanging value for value with them.

But here’s what I’ve observed: there’s a threshold that happens at around the $250k mark for most coaches, services providers and related businesses.

For some people, it’s higher.

For some people, it’s lower.

But somewhere around that point, things suddenly start to get HARD.

You have something that’s working, but it’s only working so well.

It’s like you’re too successful to quit, but not successful enough to feel like you’ve “made it”.

The question is,

How do you get past that point?

Read more

Where To Look, To Get Your Revenue Flowing Again

Recently, we worked with a client whose business was consistently bringing in about $1m in revenue each year.

But no matter what she tried, she couldn’t find a way to increase it.

She tried focusing on creating new products, better products, better marketing, better sales funnels …

The result was a few incremental gains here and there, but nothing really seemed to be clicking.

What was going on? Read more