A business can’t grow without a solid foundation. And that foundation starts with the right processes and frameworks. So what are the most important frameworks you need to know.
In our final episode of the four-part series for August, I’m going to share with you an episode on Megan Gillikin’s Weddings for Real podcast where we discuss these 6 must-have competencies. I love being Megan’s guest!
I have been honored to be featured on Megan’s podcast twice now!! Her podcast was also featured last August on our four-part series. I encourage you to add the Weddings for Real podcast to your library because it brings so much value and information to you as a business owner and CEO.
Listen now to learn more about these competencies and how they can help you run a successful business while avoiding burnout.
Here’s a summary of what Megan and I discussed in the episode:
“If you don’t shift and evolve that mindset, then the growth that is supposed to come isn’t going to be there.”
There comes a time in your business when you have to stop thinking like a creator and start thinking like a business owner. You will only be able to maximize growth if you get the mindset right.
Transitioning from creator to CEO comes with guilty assumptions that you’re not doing enough as your team who are working long hours too. But understand that this is a false mindset. You need them in their zone of genius so you can grow the business.
“It’s about really looking at all of those different ways that customers come into your sales funnel and how you’re nurturing them along the way.”
When we think about sales, we often think of it in terms of revenues generated. But it should actually be about the customer journey- from how they come into your sales funnel to how you’re nurturing them along the way.
Pay attention to all the aspects when you’re facing a breakdown in your sales:
Break down your sales funnel into different parts to help you find the hole and resolve the issue.
“When your name is spoken, or when your company name is spoken, what is the immediate thought that comes to somebody’s mind? That’s what we’re talking about in visibility.”
When you think of visibility, a lot of times people think of social media, which is a key component but it’s not everything.
Visibility also has to do with your reputation, your market, and your grassroots networking:
Those vendors will refer you 100x more than a couple will!
“You could be making, you know, three, four, or $500,000 this year in top-line revenue, but you haven’t seen your kids for more than 15 minutes in a week, and you’re so stressed out and tired, exhausted. That’s not success.“
It’s not about how much money you’re making. It’s about work and life balance. It’s about knowing your numbers. Your P&L has lots to teach you.
You can have a multi-figure business, and that’s incredible. But are you profitable?
There’s so much cost in running a business. Time is so much more valuable than a dollar will ever be.
So, it all comes down to pricing your time and understanding how to price it.
“You really have to understand that it’s your job now to lead and guide these people that are going to work with you to keep up your brand standards to be the face of your business while you continue to grow.”
A lot of times people say, “I don’t have a team. It’s just me.”
But when it’s just you in a service-based business, you’re going to hit a cap on the maximum amount of money you can make.
Besides, when it’s just you, what happens in your retirement? What happens when you want to take a vacation? Does the business stop running?
It’s always important to have a team that helps you with running your operations. You can start small with part-time employees as you learn the competencies around leading a team.
Have a mission and values for your business to guide you.
Your team is the people that will take you to the next level of growth.
“I would encourage you if you don’t have a lot of systems and automations yet, I would encourage you to start writing it down.”
Outsourcing systems and automation gives you back time and in the end, it’s so much cheaper.
However, you can’t outsource them until you have a manual version of it. Create standard operating procedures. (SOPs)
This will allow people you hire to work with your process and framework while avoiding a multitude of questions and suggestions.
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I help creative business owners sustainably scale their business so they can create a thriving career and work-life balance.
small biz coach
I have experience speaking at both live and virtual events, educating creative and wedding entrepreneurs how to step into their role as CEO. If you're looking for speakers for your next conference, workshop, event, or the next guest for your podcast, I'd love to see how we can collaborate!
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