If We Were Starting Over
Episode 623: Show Notes
Starting a business is a huge undertaking. And sometimes when we’re in the midst of building a company and struggling with a particular problem, it can be tempting to simply give up and start over with a new business. But the amount of work it takes to get a business off the ground is far more overwhelming than making changes to your current business. It’s just that it usually doesn’t feel that way because you’re not in the thick of things.
In today’s episode, we’ll be tackling the topic “What would we do differently if we were starting over?” Tuning in you’ll hear about some of the mistakes we’ve made, what precipitated them, and how we’ve helped clients avoid the same pitfalls. It may seem like the things that worked seven years ago would no longer be relevant today, but we’ve found that’s totally not the case. Many of the most important lessons we’ve learned are ones we often need to be reminded of to help us solve current problems. So this episode has been really helpful for us too! Tune in to hear our lessons on scaling up, honing in on your talents, why we love collaboration, and so much more!
The Art of Collaboration
We’ve been fifty-fifty partners since the founding of our business. This means we’ve literally had collaboration at the heart of our company since day one. But we've also managed to build a unique culture of collaboration within our team. It’s almost as if collaboration is built into the DNA of our company. We pride ourselves on bringing everyone's expertise to all our content. Not one thing goes out without someone else's eyeballs or perspective on it. Even if it's just that someone else created the template and another member fulfilled it, there have always been at least two people involved with every single thing in this entire company.
What You’ll Learn at Our Freedom Conference
If you haven’t snagged a ticket for our Freedom Conference yet, now is the time! It’s starting on March 29th and it’s going to be an incredible experience! We’re going to inspire, reignite and overcome any sense of doubt, burnout, confusion, and overwhelm that you've got going on in your service-based business. We’ll be taking you on a journey and demonstrating tangible steps on how you can build your business, with life-first in mind. We'll be showcasing these steps while also fostering a sense of camaraderie and community for participants. Sign up to learn about the natural rhythm and flows of a business, so that you can begin to predict what's coming your way. Empower yourself by learning more so you can navigate through anything! We’ll also be breaking down pricing, what to charge and how to charge, and how to get to where you want to be.
A Blast From the Past and What We Would Do Differently if We Were Starting a Business Now
Our main topic for today is, ‘what would we do differently if we were starting over?’. It’s strange to think back to the start of our business. But even though it was so long ago, all of the concepts, all of the things we would have done differently, still apply to the current moment. There's a common misconception that what worked seven years ago is just not going to work today. And that’s just not true. Even the lessons we learned five years ago are reminders that we need today. Sometimes those lessons are the most helpful and crucial because you've technically already learned them. And hopefully, this can help you where you're at while also saving you a bunch of time, stress, and worry.
Should You Shift Into More of an Agency Type Model?
One of the questions that come up for us every year or so, is whether we should shift into more of a firm or agency type model. In our opinion, this can often be the natural next step for service providers. It offers a really interesting way to scale while also helping you avoid burnout. This is because you can build a team around you that is skilled and talented and can help you on the deliverable side. With an agency model, you have the opportunity to move more into a strategy-only or management-only role.
An agency model is not without its challenges. There's definitely an aspect of it that can feel scary because you're allowing other people to represent you in a much bigger way. We’ve also seen people struggle with the pricing threshold, and balancing things in a way where it's still achievable for the clients they want to work with. But there are different versions and options you can do. One great resource we recommend if you’ve ever considered switching to an agency model is John Warrillow’s book Built to Sell.
The Importance of Scaling with Intention
One of the biggest lessons we’ve learned is that we will do anything in our power to scale and grow slower with intention, rather than seeking growth, superfast. We learned the hard way that having a stable base before you reach the next level is integral to having a positive experience when scaling your business.
Our experience was that on the outside we had all these positive things happening, but on the inside, we were freaking out. We didn’t have the systems or communications set up, and we didn’t have the lessons learned that we needed to have in order to be this new version of ourselves and sustain a new level of operations.
Integrating Systems and Software
We have always been fascinated by the software and systems side of things. Part of that is out of a desire to see how things work and how things connect. But during the early days of our business, we were reluctant to spend the money necessary to have a robust software system in place. And today we can’t imagine operating our business without a project management system, a CRM, or a communication channel. Ultimately, for many service-based businesses, this comes down to the transition that needs to happen where you start to understand the value of your time. Understanding the value of your time is incredibly important. Once you recognize that, you’ll begin to appreciate just how much time and money your business can save when you have robust systems and software in place.
You Don’t Need to Be Everything to Everyone
There isn’t one single software that can do everything for you. Similarly, you shouldn’t try to be everything to everyone. Hone in on what you’re good at, even if it means becoming more niche. The reason we often feel like we need to cater to everyone and offer a million different services is because of massive companies like Amazon that manage to do that with some success. But the truth is that you are not Amazon, and even Amazon can’t do everything.
And that is one thing that we wish we had done differently. That we had not been afraid to go all-in on one niche messaging or result that we serve for people. Experimentation is important, but you can’t let fear stop you from honing in on what you’re good at. Because it’s the best way to build a sustainable business that you love!
How to Find the Source of Your Burnout
If you’re already in the season of feeling burnt out, exhausted, overworked, underpaid, and stressed out, then this next piece of advice is for you. We would love for you to take a breather, sit for a second and maybe journal, or even process out with a friend, and identify the actual cause of the burnout. We promise you, it's not just the fact that you have your own business, that you serve clients, or that you offer this certain service. It could be a combination of all those things, but it could also be something really specific. Like communications, or boundaries with a client. It could also be something at home, like the communication in your marriage is off, or you have a sick family member that you’re supporting. Once you’re honest with yourself and identify the cause of the burnout, you can begin to address it and change your life with intention.
Quote This
I will do anything in my power to scale and grow slower with intention, so that I have a stable base as I reach the next level, rather than seeking growth, superfast.
Highlights
The Art of Collaboration [0:06:45]
What You’ll Learn at Our Freedom Conference [0:11:07]
A Blast From the Past and What We Would Do Differently if We Were Starting a Business Now [0:16:59]
Should You Shift Into More of an Agency Type Model? [0:25:35]
The Importance of Scaling With Intention [0:33:04]
Integrating Systems and Software [0:38:39]
You Don’t Need to Be Everything to Everyone [0:42:00]
How to Find the Source of Your Burnout [0:49:33]
ON TODAY’S SHOW
Abagail & Emylee
The Strategy Hour Podcast
We help overwhelmed and creative entrepreneurs break down their Oprah-sized dreams to create a functioning command center to tame the chaos of their business. Basically, we think you’re totally bomb diggity, we’re about to uplevel the shiz out of your business.
KEY TOPICS
Niche, Intention, Scale, Growth, Software, Systems, Business Lessons, Pricing
WE MENTIONED
Built to Sell: Creating a Business That Can Thrive Without You
