ALERT: Gregg is about to reminisce. My first business of the post-high school era was a home snowmaking company. Though it may come as a shock to those of you in the northern united states, some people actually WANT snow. Crazy huh?
Call me crazy too though, because I’ve always loved snow, both making it and sliding on it. And snowmaking was the perfect gig because it let me do what I love (make snow) and still pay tuition (at the time). The business grew and things got busier and busier…until one day, i realized I hadn’t been snowboarding in over 2 months.
“Wait a second,” the voices in my head argued, “Wasn’t the whole point of this business so you would have extra money to go snowboarding and have fun with your buddies?”
“Yes it was,” I responded, beginning to see their point.
“So, what are you gonna do about it?”
Recognizing that those voices were usually right, I decided to make changes. I hired some help at the expense of lower profits. I outsourced parts of the work that took the most time. And decided to be less aggressive with things until I could manage the growth. Along the way, I was able to have my cake (lifestyle) and eat it too (make a sufficient profit).
Let me suggest a short checklist of things to consider when your business begins to take up too much time:
1) If you suck at it, let someone else do it.
Small business owners wear many hats, but there is no need to wear ALL of them unless absolutely necessary. (self-plug approaching) That was half the reason behind The Ultimate Employee. Small business owners love to do their own internet marketing, but for the most part, they are doing it all wrong. Another example? If math just ain’t yo’ thang, hire an accountant.
2) If it can be done with cheap labor, hire cheap labor.
Once upon a time I was working for a property management company in Salt Lake City. I was 15 and getting paid beans (thinking back, I actually do think the bank gave me a couple lima beans once when i cashed a check). These guys managed tons of properties and sat in their office drinking Pina Coladas and eating Chinese take-out. They could have done it all themselves, but because I was cheap labor, they let me do the work for almost zero cost while they organized other cheap labor to multiply their profits.
3) If it can be automated, automate it.
If you have a newsletter and aren’t using an autoresponder, start using one. If you sell digital products and are still sending out orders individually, automate it with something like DPD. If you are taking orders by hand over the phone, hire a tech guy like Gabe to setup an automated online ordering system. The return on your investment will not only be the opportunity to get more orders with less labor, but you will suddenly have a huge surplus of time you can use for important work-related activities like vacations and golf-swing practice.
What I am trying to say is, make sure that your business not only provides the monetary benefits that life demands, but also the intangibles. Dream your perfect lifestyle, and instead of focusing solely on your income, let that vision be your driving goal.
