When you’re beginning your first business and dipping your toes into the entrepreneurial journey, jumping to the money making part and figuring everything else out along the way, is usually what happens. In your mind, sales is key and money is a big motivator.
Some could argue that not having the proper branding, an amazing website, a social media presence, or even virtually no money to start up will prevent you from making money. But I say, that’s a load of crap.
Hear me out.
I’ve witnessed businesses with NO online presence and terrible branding make 6 and 7 figures yearly. They hustle, they sell/provide, and they make bank.
Now, will a better branded company with a high converting website, and large social following increase your overall company value, recognition, and sales? Yes. Could lacking one of those aspects be one of the reasons your business isn’t thriving? Absolutely. But still, marketing and sales aren’t the only core parts of your business, nor the step that is typically overlooked.
When I began Socially Tangled, I had the logo, the branding, contracts, the website, the social media presence, and even the clients.
The first time business wasn’t working in my favor, it was strictly a pricing thing. I wasn’t pricing my services high enough, therefor was royally screwing up my income. This, was an easy fix. With new packages and a new clients, I was making more money than before and was feeling damn good about my business.
As business started taking off at a rapid pace, it didn’t take me long to realize my business structurally wasn’t prepared for the growth.
And that’s when the REAL “oh shit” moment came in.
I realized no one can do my job (nor could I delegate tasks properly) without my systems written out. I lacked training material, an operation/procedure manual, and best practice guides. There was no documented system or process for my business; so when I hired 5 new teammates I essentially set them (and my business) up for failure.
The new team members weren’t fulfilling the duties I had anticipated or expected plus there was just a lot of miscommunication; this was no ones fault other than my own. This ultimately took me from a 7 person payroll back down to a 2 person payroll.
When a business needs 7 people, but the burden is placed on 2, ultimate burnout is sure to occur…and it did. This caused me to not be able to take on any new business (slow growth) and I became overwhelmed to the point where I actually began hating the hustle.
And to think, this was all due to lack of systems and procedures.
Core Business Systems
There are 5 core business systems to that keep your business running, growing, and thriving. Procedures, training guides, and systematic ways for the behind-the-scenes business, are known as the Management System and is the keystone of all systems. Without this in place, other remaining 4 core systems such as Marketing, Sales, Fulfillment and Accounting, will crumble.
Build systems, processes, and procedures then delegate it out. Essentially, you want to get your business to a place where you’re solely in charge of the tactics and strategies that take your business to the next level!
Don’t get stuck in the continuous cycle of doing bitch work.
Been there, done that.
It’s for the birds.
Need help setting up systems and strategies in your business?
Schedule a consultation with me! I’ll help get you on the right track.
Committed to your growth,
Lauren
