Starting a business can be one of the most rewarding experiences in life.
But as it grows, it can also become one of the most overwhelming. It becomes more challenging, and you’ll soon find yourself struggling to keep up.
And while this complexity is a natural part of growth, it needs to be managed properly. If not, it can lead you to burnout and eventually resent your product, customers, and your whole business in general.
Thankfully, having the right systems and strategies in place to help support this growth, both in your business and personal life
But how do you create these support systems?
Where do you start and what will they look like?
In this episode, our guest Jessica Yarbrough and I explore the essential systems and strategies you need to support both your business and personal life during times of growth.
Timestamps for this week’s episode
- 02:59 With the clients you work with, what is their biggest problem when their business grows?
- 04:05 Is there a common thread in those who come to you asking for help with their growing business “pains”? Are there similarities in what went wrong in the past? And what do you do to prevent it from recurring in the future?
- 12:35 What is the importance of having both internal and external systems to support the growth of a small business, particularly in terms of having support within the business and in the owner’s private life?
- 18:01 How can business owners create systems and processes that will enable them to scale their operations without sacrificing their personal lives?
- 22:08 What is the next actionable step to take in the next week or two if you want to establish effective internal and external systems in your professional and private life?
- 23:10 How do you identify high-value activities for your business, especially when it seems like all the tasks on your calendar are equally important?
With the clients that you work with, what is their biggest problem when their business starts to grow?
Ensuring that the business model won’t lead to burnout or, worse, resentment because they have not attained the level of freedom they originally sought.
You need to identify the source of the “business-growth” pain or stress and change your strategy, systems, and even how you handle stress to avoid getting stuck and never reaching a place of enjoyment.
Is there a common thread in those who come to you asking for help with their growing business “pains”? Are there similarities in what went wrong in the past? and what do you do to prevent it from recurring in the future?
The common thread among those seeking help with their growing business is that they are often stuck at the center of the business.
They are kept busy by the minutiae of everyday tasks and are also:
- Not delegating enough
- May be experiencing team issues
- Are struggling with control and micromanaging
- May have impostor syndrome
- and experiencing financial strain due to underpricing and a stagnant cash flow
To prevent these issues from recurring they need to:
- Address pricing strategies
- Free up time
- Build the right team and systems
- Learn to trust their people
“If you don’t control your calendar, it will control you. Even if you’re making good money, you don’t want to be in a place where you’re resenting your business.” – Jessica Yarbrough
What is the importance of having both internal and external systems to support the growth of a small business, particularly in terms of having support not only within the business but also in the owner’s private life?
Having internal and external systems can help entrepreneurs free up time to focus on their business and personal growth.
They can also help entrepreneurs maintain a healthy work-life balance and ensure they have time and energy to maintain relationships and care for their health.
These can include:
- Outsourcing non-essential tasks like laundry, cleaning, and shipping
- Clearly defined work hours
- A disciplined approach to working from home
- Taking control of their calendar and blocking time for specific activities
Ultimately, investing in support systems for both business and personal life can lead to a more sustainable and fulfilling entrepreneurial journey.
How do you identify high-value activities for your business, especially when it seems like all the tasks on your calendar are equally important?
Focus on the tasks that will most impact your bottom line in the next 30-90 days.
Assess the different engines of your business, such as marketing, sales, operations, and client delivery, to see where the most urgent needs are.
- If you need more clients, focus on visibility and lead generation.
- You have good clients but struggle with delivery, fix delivery.
- Is retention a problem? Focus on improving loyalty and so on
Once you’ve identified the most pressing issues, prioritize them and allocate 80% of your time and energy toward fixing them. This way, you can avoid spending all your time putting out small fires without gaining any real traction.
Avoid the trap of working long hours without breaks, as this can actually reduce your productivity.
Assess your calendar to allocate your time to high-value activities that will yield the greatest return on your investment.
By taking control of your calendar, you can create a sustainable and effective system that allows you to achieve both personal and professional success.
- To avoid burnout and resentment of your business, identify the sources of your stress and make necessary changes to strategy, systems, and stress management to reach a place of enjoyment and freedom.
- Founders often struggle with being stuck in the center of their growing business, overwhelmed with daily tasks, and facing issues like underpricing, team management, and control. To address these recurring issues, focus on pricing strategies, delegating tasks, building effective teams and systems, and learning to trust your employees.
- Entrepreneurs can prioritize their personal and business growth and maintain a healthy work-life balance by investing in internal and external systems, such as outsourcing non-essential tasks, defining work hours, and blocking time for specific activities. This can lead to a more fulfilling and sustainable entrepreneurial journey for you.
- Working long hours without breaks can reduce your productivity, so assessing and allocating time to high-value activities is important. You can achieve personal and professional success by taking control of your calendar and creating a sustainable system.
- Identify the most pressing issues in your business by focusing on high-impact tasks that will affect your bottom line. Assess the different engines of your business to see where the most urgent needs are, then prioritize and allocate 80% of your time and energy towards fixing them for real traction.
About guest – Jessica Yarbrough
Business Growth Strategist and Growth Expert
Jessica Yarbrough is a Business Strategist and Growth Expert. She quickly developed a reputation for being one of the best business strategists for coaches and consultants who want to sell and scale ultra-high-end services. Her background is in international business, and she has built multiple companies.
Jessica is a genius at showing entrepreneurs how to build an expert platform, rapidly raise their value, build credibility, and attract high-paying clients. She loves teaching entrepreneurs how to grow their influence and make the income and impact they desire.
About host – Kathy Svetina
Kathy Svetina is a Fractional CFO for growing women-owned businesses with $1M-$10M in annual revenue.
Clients hire her when they’re unsure about what’s going on in their finances, are stressed out by making financial decisions, or need to structure their finances to keep up with their growth.
She solves their nagging money mysteries and builds a financial structure with a tailored financial strategy. That way they can grow in a financially healthy and sustainable way.
Kathy is based in Chicago, IL and works with clients all over the US.