Here's a trick I used when I FINALLY built my business up

17 replies
So I fumbled along forever in my offline business. I always made pretty decent money, around $90-150k a year or so for a few years. But I could never quite get beyond that.

What I finally did is use some mind-mapping software to map out my direction. I created two pages. One with my weaknesses, and how they manifested. One with my stengths and how they manifest. For instance I'm really bad at following up, and really bad about doing 90% of a project but never finishing that last 10%(i.e. really pissing off clients). My strengths are I'm a natural leader, very creative, strategic and intelligent. I love public speaking and am a natural salesperson with passion for my clients.

Then I expanded upon the weaknesses, and brainstormed how to overcome them. I thought of how much It would cost to hire someone to cover my weaknesses.

Finally I created a third mind-map that talked about what I learned from this exercise. What I came up with is most of the work that I struggled with is $8-12/hr work. With some being $20-30/hr work. Where I excelled was the $50-5,000/hr work.

That's when I built my company up, and everything changed for me. I hired project managers who could take my ideas and follow them to completion with a little guidance.

Another huge change for me was the systematization of things I did. There were things I just was neglecting that were problems in my business. So instead I found ways to systematize their completion. For instance, I wasn't always good at following up with sales leads, so we built follow up systems that more than tripled our close rates, etc. I wasn't always good at communicating effectively with clients in my herd, so I built a system to over communicate, provide extra value, while farming for upsells and crossells. it was timed to the T. And once a month we'd edit the timing of the communications to more closely align with the clients needs and desires.

So here are your questions:
1. What are your weaknesses?
2. What can you brainstorm to handle your weaknesses?
3. What would it cost per hour to hire someone to take care of the things you're not good at?
4. What are your stengths? How can you do more with your strengths?
5. What systems can you put in place to cover your weaknesses? What systems can you put in place to emphasize your strengths?
6. What would you have to do in the next 3-6 months to power through your weaknesses so that you can hire someone to cover for your weaknesses so you never have to do that stuff again?

HTH
#built #business #business building #finally #overcoming weaknesses #sales #trick
  • Profile picture of the author JakeM1
    These are some very good points!

    Out of curiosity, can I ask what field of work you're involved in as that's a decent income you've achieved.
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    • Profile picture of the author wb_man
      So you hired people for your weaknesses? Did you hire people in your local area or did you outsource?

      kinda like you as ceo/owner and you get salespeople and project managers to do the work for you?
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      • Profile picture of the author MRomeo09
        Originally Posted by JakeM1 View Post

        These are some very good points!

        Out of curiosity, can I ask what field of work you're involved in as that's a decent income you've achieved.
        SEO with some websites. Then went more into lead gen, site rentals and appointment setting. Finally ended up with licensing. My first two clients brought in almost $4k a month. I went straight from nothing to charging pretty decent money. That was back in 2006-2008 time frame.

        Originally Posted by wb_man View Post

        So you hired people for your weaknesses? Did you hire people in your local area or did you outsource?


        Mostly when you're hiring your weaknesses you want to be local. While you can get things done cheaper overseas most of the other stuff should be local to you. Roles I have hired for and whether I outsourced or sourced locally.

        Telemarketer - Both
        Salesperson - Local
        Project Manager - Local
        Administrative Assistant - Outsourced then local(would probably never outsource again).
        Gopher(stuffing envelopes, do whatever we need) - local
        Marketing Assistant- Local
        Content Writing - Outsourced and local
        Website Creation - Outsourced
        SEO Work/Link Building - Outsourced
        Payroll - Outsourced
        Legal - Local(but not in house)
        Copywriter - Outsourced
        PPC Manager - Outsourced
        Technical Writer - :Local- Systems and procedure documentation.
        Originally Posted by wb_man View Post

        kinda like you as ceo/owner and you get salespeople and project managers to do the work for you?

        Yes I'd say it's similar to that. It was more of a brainstorm about how to remove my blocks from growth and make things easier. It was never anything I couldn't do, and hadn't done before, it was more of the stuff that it was like pulling teeth to get me done. I'm like many entrepreneurs I'm an adrenaline junkie, I like to close the deals, not so great in the execution of said deals. I'll think up the perfect plan for you, but trying to do it for myself was an exercise in frustration.

        I'll tell you that I almost gave up at some point. It was 2008, the economy was shitty, i was losing clients, and money was tight everywhere. I lost around $6k/mo in clients in a few days. I had one very horrible client tell me I was one of the worst, most unprofessional contractors they had ever used(again that 90% done, never quite finishing the last 10%). It wasn't until I took this long hard look at myself that I realized WHO I was. Yeah some of these faults did make me very unprofessional, but I was brilliant at my strengths. So I suppose to be clear not only did it help me break out of an income rut(keep in mind I was making this money WHILE holding down a full time job), it probably saved my entire business.

        Don't lose sight of the systematization as well. That was super important. It wasn't until I put some client acquisition systems in place that my business started to explode as well. I found myself probably like many of you, maintaining a level that I felt comfortable with, and self correcting until I got there. When you take these things that are not your strengths, and put systems and procedures in place. It just becomes part of the process.

        Does that help?
        Signature
        We do not have to become heroes overnight. Just a step at a time, meeting each thing that comes up ... discovering we have the strength to stare it down. - Eleanor Roosevelt

        Your opinion of yourself becomes your reality. If you have all these doubts, then no one will believe in you and everything will go wrong. If you think the opposite, the opposite will happen. It’s that simple.-Curtis Jackson- 50 Cent
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        • Profile picture of the author savidge4
          Originally Posted by MRomeo09 View Post

          Don't lose sight of the systematization as well. That was super important. It wasn't until I put some client acquisition systems in place that my business started to explode as well. I found myself probably like many of you, maintaining a level that I felt comfortable with, and self correcting until I got there. When you take these things that are not your strengths, and put systems and procedures in place. It just becomes part of the process.

          Does that help?
          That right there is where my explosion came. "Systematization" Huge huge huge. Learning to not deal with the clients that do not fit, and wait and seek the ones that do.

          For me personally I have the same issue 90% done then.... uh yeah I will have that tomorrow for you... next week... oh yeah your next in line... Now how ever, with a system in place, I just cant do that anymore.

          Its when a "I" operation becomes a "We" operation that makes all the difference in the world. if you have the system and procedures in place to know where a project is, whats left, what its waiting on, what needs to be done next... And you have the "Staff" in place to make all of these things happen... there simply is no more 90%, it just gets completed, and everyone is happy.
          Signature
          Success is an ACT not an idea
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  • Profile picture of the author Robinsh123
    Thanks for being here with your business success tips and how we can also do the same to scale up, I was wondering that what is the total investment in order to make $90K to $150 per year ?
    Signature
    You can save upto 75% on this awesome deal, so hurry up and GRAB it before the price hike.
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  • Profile picture of the author Wildfire Results
    Great advice MRomeo09.
    Have you ever thought about using JV's to increase revenue?
    There are other marketing consultants that can offer proven
    marketing campaigns that don't compete with your services
    to increase revenue for your clients and your clients will love you
    for adding value to their business and in turn this makes you
    more valuable to them as well.
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    • Profile picture of the author Joel
      MindMaps are a wonderful tool for almost all businesses & situations. As a business consultant I have used & recommended MindMaps for many years. Below is the information on a free MindMap tool that I have recommended to others over the years.

      --------------------------------

      MindMaps

      A mind map is a graphical way to represent ideas and concepts. It is a visual thinking tool that helps structuring information, helping you to better analyze, comprehend, synthesize, recall and generate new ideas.

      In a mind map, as opposed to traditional note taking or a linear text, information is structured in a way that resembles much more closely how your brain actually works.

      Mind maps are used to generate, visualize, structure, and classify ideas, and as an aid to studying and organizing information, solving problems and making decisions.


      No Cost Option to Create/View/Modify MindMaps

      Download the free version of XMind MindMapping software at XMind: The Most Professional Mind Map Software


      The free version allows you to:
      a) create, modify and save MindMaps
      b) print your MindMap
      c) export as an image file that you can open & print. (If you have a PDF print driver installed, you can create a PDF document by selecting the PDF driver when you print the image file)

      There is a XMind Plus version ($79) that allows you to export as PDF, Word and PowerPoint, along with additional functionality, that is normally not need by most users.
      Signature

      "Without data or facts, you are just another person with an opinion"

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  • Profile picture of the author AlphaWarrior
    I understand seo, lead gen, and site rentals, but what is licensing?

    How does the model work?

    Thanks!
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    • Profile picture of the author MRomeo09
      Originally Posted by Robinsh123 View Post

      Thanks for being here with your business success tips and how we can also do the same to scale up, I was wondering that what is the total investment in order to make $90K to $150 per year ?
      I got there with very little investment. I did some free work for some centers of influence. One client referred me to one, who referred me to another and so on. I very rarely did a cold call, and I did no marketing. I only chose to work for clients that were referred to me. From the gate I never worked for less than $1k a month. When you're charging on average $1,600/mo per client it doesn't take many clients. I also started fooling with Barter. I bartered for Restaurants, and used the coupons for access to clients I wanted to work with.

      Then eventually I opened up my own chain of brick and mortar businesses using all the skills I had learned. This also served as a gateway to more small business clients. Then shut it down around the same time that I almost gave up that I discussed above. I had at one time close to 40 people working for me before I shut it down. However, the economy was REALLY, REALLY bad. And the ROI for time invested was really bad.

      My story is kinda complex. I've done a lot of things.

      Originally Posted by savidge4 View Post

      That right there is where my explosion came. "Systematization" Huge huge huge. Learning to not deal with the clients that do not fit, and wait and seek the ones that do.

      For me personally I have the same issue 90% done then.... uh yeah I will have that tomorrow for you... next week... oh yeah your next in line... Now how ever, with a system in place, I just cant do that anymore.

      Its when a "I" operation becomes a "We" operation that makes all the difference in the world. if you have the system and procedures in place to know where a project is, whats left, what its waiting on, what needs to be done next... And you have the "Staff" in place to make all of these things happen... there simply is no more 90%, it just gets completed, and everyone is happy.
      For me it wasn't enough just to systematize, I really needed to hire staff to do it. I just couldn't make myself do that last 10%. It was an almost fatal flaw, until I realized how cheap it was to hire it out and make it happen automatically. It's more about maximizing your income potential by hiring away the stuff you can't or won't do, and concentrating on the activities that are high value.



      Originally Posted by Wildfire Results View Post

      Great advice MRomeo09.
      Have you ever thought about using JV's to increase revenue?
      There are other marketing consultants that can offer proven
      marketing campaigns that don't compete with your services
      to increase revenue for your clients and your clients will love you
      for adding value to their business and in turn this makes you
      more valuable to them as well.
      We were fooling with some JV's before I got ill, and I'll be honest JV's with the right contacts can be about the most lucrative thing you can do. It's pretty awesome to generate millions of dollars of revenue in 7-10 days when you're working with the right clients. I never bothered to actually license them from a third party because for the most part it was super easy to create on your own. And people would pay you to create them.

      Originally Posted by AlphaWarrior View Post

      I understand seo, lead gen, and site rentals, but what is licensing?

      How does the model work?

      Thanks!
      I've talked about it quite extensively. Check out my post history.

      http://www.warriorforum.com/offline-...g-fortune.html

      I've been "retired" at the ripe old age of 42 since I sold my business. I'm thinking about getting back in the game in the next few months.
      Signature
      We do not have to become heroes overnight. Just a step at a time, meeting each thing that comes up ... discovering we have the strength to stare it down. - Eleanor Roosevelt

      Your opinion of yourself becomes your reality. If you have all these doubts, then no one will believe in you and everything will go wrong. If you think the opposite, the opposite will happen. It’s that simple.-Curtis Jackson- 50 Cent
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      • Profile picture of the author Ron Lafuddy
        Originally Posted by MRomeo09 View Post

        I got there with very little investment. I did some free work for some centers of influence. One client referred me to one, who referred me to another and so on. I very rarely did a cold call, and I did no marketing. I only chose to work for clients that were referred to me.


        I'll be honest JV's with the right contacts can be about the most lucrative thing you can do. It's pretty awesome to generate millions of dollars of revenue in 7-10 days when you're working with the right clients..
        Referral marketing is the most powerful, yet least understood business builder there is.
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      • Profile picture of the author wb_man
        Originally Posted by MRomeo09 View Post


        I've been "retired" at the ripe old age of 42 since I sold my business. I'm thinking about getting back in the game in the next few months.
        how much did you make to be able to retire at 42?
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  • Profile picture of the author bizgrower
    mRomeo09,

    I like the way you break things down in your posts and respect what it is you've done.

    It's absolutely imperative that business owners and managers spend the majority of their time
    on the things they do well and the revenue generating things. And cost saving things/strategies
    without being penny wise and pound foolish..

    When the owner of my hotel ran it, he and his wife would spend a lot of their time on housekeeping
    and maintenance to "save" money. So, for example, a fruit of their labor is that they did not have to
    buy new linens or towels for three years. A savings of perhaps a couple of thousand dollars for our
    small hotel, but not really a trade off when you figure what their time is worth. And what they could
    be doing with their time.

    To continue the example, in the three years I've managed the place, I don't spend hardly anytime in
    housekeeping or laundry and have had to buy probably $500 in new linens and towels. But, I do spend
    my time on revenue generating activities/improvements and we have increased annual revenues from
    $425K to $475K to projected $525K this year.

    It seems to me that this should apply to any business. Keep investing time and revenues on the right
    things> Keep improving the customer experience > Get better reviews > Be able to charge a bit more
    for your products or services > Improve the bottom line and the value of the business>Spend your personal and business time how you want.

    Dan
    Signature

    "If you think you're the smartest person in the room, then you're probably in the wrong room."

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    • Profile picture of the author camha
      Originally Posted by bizgrower View Post

      mRomeo09,

      I like the way you break things down in your posts and respect what it is you've done.

      It's absolutely imperative that business owners and managers spend the majority of their time
      on the things they do well and the revenue generating things. And cost saving things/strategies
      without being penny wise and pound foolish..

      When the owner of my hotel ran it, he and his wife would spend a lot of their time on housekeeping
      and maintenance to "save" money. So, for example, a fruit of their labor is that they did not have to
      buy new linens or towels for three years. A savings of perhaps a couple of thousand dollars for our
      small hotel, but not really a trade off when you figure what their time is worth. And what they could
      be doing with their time.

      To continue the example, in the three years I've managed the place, I don't spend hardly anytime in
      housekeeping or laundry and have had to buy probably $500 in new linens and towels. But, I do spend
      my time on revenue generating activities/improvements and we have increased annual revenues from
      $425K to $475K to projected $525K this year.

      It seems to me that this should apply to any business. Keep investing time and revenues on the right
      things> Keep improving the customer experience > Get better reviews > Be able to charge a bit more
      for your products or services > Improve the bottom line and the value of the business>Spend your personal and business time how you want.

      Dan
      Exactly, few people see alternative costs and realize what their time is worth.
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  • Profile picture of the author voe
    Good for you buddy!
    I wish you even more success.
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  • Profile picture of the author Gh0zt
    Great advice! I've done basically the exact same thing before now and it really does help, it's an extremely powerful little trick that lets you be brutally honest with yourself and make steps to actually make noticable change.

    I "thanked" your post - but big up yourself man, I'm happy I saw someone share this today

    Peace be with you.
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    • Profile picture of the author MRomeo09
      https://smallbusiness.yahoo.com/advi...193000784.html

      Just posted today. Pretty relevant.

      I in particular agree with the part about being a good salesperson. Contrary to the mularkey sold in the WSO section I just don't believe it's possible to really succeed in this business without being decent to good at sales.Show me a single success story of someone making $10k a month who won't/can't do sales. Not in the "offline" consulting business anyway. You can do it in pure IM, but for what we do here it's very hard to have a truly successful business without sales skills.
      Signature
      We do not have to become heroes overnight. Just a step at a time, meeting each thing that comes up ... discovering we have the strength to stare it down. - Eleanor Roosevelt

      Your opinion of yourself becomes your reality. If you have all these doubts, then no one will believe in you and everything will go wrong. If you think the opposite, the opposite will happen. It’s that simple.-Curtis Jackson- 50 Cent
      {{ DiscussionBoard.errors[9457975].message }}

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