Oct 14, 2018 | Business
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
Sep 19, 2018 | Business, Life
I’ve always been intrigued by the minds of entrepreneurs. It takes a lot of guts, perseverance, skill, and a shit ton of failure (lessons) to be an entrepreneur. I’ve often wondered what makes other entrepreneurs tick? What’s their biggest driving force or their internal inspiration? What makes them different from “everyone else?”
Let’s face it, those questions are way too deep for a blog post.
But this next question, ooooohhhh this question, it reveals a different type of depth. It’s the root of the phrase, “shoulda, coulda, woulda” for some. For others, this question brings out a sense of hope and optimism, that they maybe once lacked.
I tapped into my network and asked over 60 people from 3 different continents, 5 different countries, and 29 different states to answer this one question:
If you could give your younger self ONE piece of advice, what would it be?
And with all transparency, honesty, and for some- no filter… they answered.
Here are my top 10 favorite answers:
Step into your power and recognize your own personal strength, beauty, and self-worth. Do this and nothing can stop you. -Sophie Jaffe, The Philosophie
Don’t let other peoples perceptions, ideas, suggestions, or comments, effect what you truly want to do with your life… Remember – “Those who mind don’t matter, and those who matter don’t mind” -Nate Buchan, World Nate
Don’t doubt yourself -Norma Jean Belenky, Norma Jean Loves
It’s okay that you don’t know where you want to be in the next 5-10 years. Everything will change, whether you like it or not. You most likely will lose some or even most of your “friends” and keep a few. Life is what you make it. – Nicole Allard, Cobat Virtual
Your wildest ideas, could change the world. Do not fear failure, only fear inaction. Life is too short to wonder “what if?” Some people will understand your vision immediately, and others will never understand. You must show them. Above all, show yourself. You WILL fail, and you must accept that- but never accept failure for anything less than learning. -Jesse Alton, Alton Tech
Think big because anything is possible! The only restrictions in life are the ones I put on myself. –Kristen Nolan, Metabolism & Fitness Coach
Focus on what is truly important in life. No one lays on their deathbed and wishes they had worked more. Give your employer 100%, but don’t sacrifice the rest of your life for it. Love hose who will love you back. -Paul Critchley, New England Lean Consulting
Get the hell out of your own way otherwise you’ll spend entirely too much time making excuses for why you can’t do things instead of finding a way to make it happen. Stephanie Patterson, SR Photo Studio
Seek INTEGRITY with anything you do. By integrity, I’m referring to improving your behavior patterns when no one else is watching. All political, economical and religious influences aside, the only justification you need for your current actions is whether the outcome will be one step forward or two steps backward from your personal and/or professional goals. This will allow you to remain humble and objective, devote 100 percent of your undivided attention towards work/life priorities, and view obstacles as opportunities when they arise. Eric Burratty, Eric Burratty Fitness
And if I ever had to give myself one piece of advice it would be “Don’t lead with your head or your heart, trust the gut. Your intuition won’t misguide you.”
What would you tell your younger self? Share them with me in the comments below!
Need more positivity in your life? Check out my book, “Mind Love: Bite-Sized Thought Nuggets to Fuel Your Life” for inspiration!
To Your Success,
Lauren
