Guest Post by: Samantha Siffring, Business Consultant & Coach with TBH Coach
I am in a pretty unique position in getting to see the insides of other people’s business before they are making money and after, since I have clients at both stages. Here’s something interesting I notice – when people are working to get that business going, they spend a lot of time working ON their business. Envisioning the future, creating programs, trying new things in their marketing – and trying new things in general.
Once people hit some success, I see many who get so focused on their client work that they literally don’t have time left over to work on their own businesses. They spent all their time working IN, none working ON.
I think this can come from a lot of causes: a mindset of not truly believing that they will have a full client load one day, a lack of setting up the business model with limits on time, poor time management, poor pricing so that you have to overcommit to make your income goal, and probably more.
The one thing that is always true is that it proves toxic and sometimes deadly for solopreneurs!
If you’ve spent a period of time only working in your business on client work and never on your business streamlining, scaling, and setting up systems, when those clients go away, you’ll be left with nothing. No income, no waiting list, no pipeline of leads. You’ll have to start over again completely from scratch.
Here are a few strategies that will help you prevent this from happening to you…or recover after making this mistake!
Hire before you feel ready
One of the messages I hear from every single internet millionaire is that they waited too long to bring someone onto their team. Growing a team, even hiring a virtual assistant for a couple hours a week at first, can free up your time to focus entirely on the income-producing activities while they do some of the behind-the-scenes work.
Tip: don’t just focus on the additional cost, think about the potential revenue increase you will see when you’ve freed up more time for your zone of genius.
Treat your business like another client on your roster
If you’re not yet at the stage of building a team, at the very least, add your own business to your list of clients. Seeing your business on the list will be a good reminder of where to focus your attention and to not let it slip by unnoticed.
Tip: flip this around and evaluate your performance as if you'd hired you to grow your own business. Would you be happy with what you have done?
Raise your rates
When we get so many clients that we don’t have time for our own businesses, it can be a sign that our rates are too low. If you haven’t re-evaluated and raised your rates in awhile, it’s time.
Tip: there is no right or wrong way to raise rates when you currently have clients. You can keep your existing clients at their current rate, or let them know rates will be going up on a certain date.
Own that CEO title
Do you have a lot of experience being an employee and very little as a CEO? Are you hesitant to own the fact that you are a CEO or an entrepreneur? Our self doubt in this area can be manifested in not showing up as the CEO in our business. Someone has to do it, and spoiler alert – no one else is going to show up to run your business. It has to be you.
Tip: sit down and write a job description and expectations you have for yourself as a CEO (from the employee perspective) and as an employee (from the CEO perspective).
Schedule time for it
Let’s face it: things don’t happen unless we schedule them in. Schedule in specific time to work ON your business and really step into your role as the CEO. This can be one day a week, one hour a day, or something else.
Tip: treat this appointment in your calendar like any other. When we have appointments and commitments with ourselves, they seem optional or flexible. Treat your appointments with yourself like you would treat a doctor’s appointment — non-negotiable.
Samantha Siffring owns tbhcoach.com where she is a business consultant and coach for moms with online businesses. She started as a coach after struggling to find her identity after becoming a mother and now is very passionate about helping other moms build businesses from home and balance entrepreneurship with motherhood. She is a mom of 3, an over-volunteer-er, and a travel lover – she and her husband met while studying abroad in college and are always taking their kids on epic adventures.