You are probably very creative and full of great ideas. This may be why you have succeeded in scaling your business to the level you are at. You are also probably open to learning new skills and happy to try new marketing tactics or tools to see if they can get you better results, which is especially important in the new economy emerging following COVID lockdowns.
It’s certainly a good thing to have a regular flow of ideas and amazing to be open to the latest ways to grow, but implementing many things – at once – comes at a price to your energy and sanity, especially if the growth you are looking for fails to materialise. This can lead to a feeling of “overwhelm” where you seem to be trying everything… and nothing seems to work.
It’s not unusual to see an entrepreneur make quick, or regular, directional changes. If this happens after a difficult period, where targets haven’t been met, frustration and stress can mount and this can impact your health. Directional changes also have the potential to plant confusion in the minds of your prospects – this happens when they see you doing something different to what they thought your brand stands for and they can’t identify with it.
Rapid changes can also impact your team too. If they thought they were going in one direction, then another and another, morale can suffer. Sometimes an entrepreneur can feel like “the team aren’t getting it” and you are now having to micro-manage.
Scaling your business is an art…
When A Winning Formula Becomes A Losing Formula
The symptoms I’ve described aren’t untypical for a business that has grown to a reasonable 6 figure income. The business enjoyed growth, but then it plateaued and despite doing all the seemingly “right things”, growth seems out of your grasp. And that’s just frustrating!
When this happens the winning formula (what got you to where you are) becomes a losing formula). Effectively it’s like driving a car in the wrong gear. The engine is telling you to shift gears. Wellness and personal development entrepreneurs get stuck here, continuing to do what they have always done, create great ideas and try new things, but this isn’t usually the answer.
Businesses get stuck because they don’t know how to shift gears. Shifting gears to a new winning formula can require a shift in how you do business. For example, it might require a shift in: mindset, leadership style, implementing new systems and processes, acquiring new team or partnerships etc.
Minimum Investment. Maximum Returns
As a personal development or wellness entrepreneur one of your key drivers will likely be the impact you can make through your work. You may also be running the business to fit your lifestyle, so you want the hours invested in growth to have the highest possible return on investment.
In a business which wants to grow quickly, with business as usual tasks and delivery to take care of, as well as implementation of new ideas, it’s easy for the owner to start to feel frazzled and the team to feel demotivated, burnt out, or worse… heading for the exit!
So, what’s the way out?
The Way Out
The way out is to know you can build on your initial success. But the way out isn’t about tactics and tools…
The way out is found in strategy. If you are trying to grow a business without a strategy, you are operating on a flawed principle.
A strategy means developing a plan… a plan that’s unique to you and that highlights how you’ll progress, step-by-step, month-by-month. The plan builds chronologically, detailing how you’ll develop your market, assets, systems and recruiting fantastic, “on-mission” team members.
At 7-Figure Back Office we help wellness and personal development experts have a greater impact & scale their business. We’ve found Business owners are often visionaries and creators and have lots of plates spinning. Systems, processes and the operations side of the business aren’t usually their preference and that means no-one really manages it causing frustration, and stress, slowing growth and preventing them from scaling & making a bigger impact.
As experts in business ops, we fill that gap. We take all the operations off the business owner’s plate and turn the business into a series of profitable projects that frees the owner’s energy, time and money, releasing them to do the things they love such as creation, delivery and building the brand.
Do you need help in Scaling Your Business?
This article has explored just one of the blocks to scaling a business to 7-figures. If you want to find out what specifically stops you from scaling to 7-Figures, take our Assessment here: https://7figurebackoffice.com/assessment/
