I was listening to my friend Trent Dyrsmid’s Bright Ideas podcast this morning (which is fantastic by the way) and one thing that his interviewee, a founder of a tech and business systems company, talked about really stuck out as being a super-important thing to consider as online entrepreneurs, especially when we get through the start-up phase in our business.
He said that we need to make the decision: “Do I grow, or do I have control?”
I can see where he’s coming from and I think this is such a crucial question to ask ourselves and the answer really depends on what you want out of your business.
If your aim is to reach and serve as many people worldwide as you can, increase your profits massively each year and build a multi-million, sellable company then the answer is obviously going to be that you want to GROW.
If your desire is to reach and serve a smaller, highly-targeted audience, who you can serve yourself and you want to take charge of all the daily operations – marketing, strategy, customer service, client acquisition and to make a nice tidy sum but nothing that’s going to break any records, then you probably would prefer that you’re in CONTROL of your business.
This doesn’t necessarily mean (and I think this is the misconception here with many solopreneurs) that if you want to grow, you have to have hundreds of staff and large offices and massive overheads. It can be this way but in online business, it can easily be a much leaner operation – having few, if any employees (taking on contractors as required instead), much smaller fulfillment costs and overheads, and virtual offices.
In my business currently, for example, I have one main office where I work and 2 or 3 of my interns work from (PA, Videographer, Strategic Content Creator) and then various contractors – some long-term, some short term, who work in their offices in various locations across the world – London, Asia, USA.
[content_box_light_blue width=”75%”]I think the danger is thinking in extremes – I’m either going to be big with lots of staff etc or it’s just going to be me (and likely struggling).[/content_box_light_blue]
Whist it is certainly true that in order to grow, as the business owner, you need to let go of some control – just like in offline businesses (if you owned a restaurant, you wouldn’t expect to wait all the tables yourself, take phone bookings, wash dishes, cook the food, advertise, do the accounts because it would simply be impossible. If you did try to do all those things, you’d constantly be struggling, frustrated and unsuccessful. So do yourself a favour – OUTSOURCE some of your online business tasks.
You can still be a small, flexible business and work the hours you want on your terms, whilst other capable people are managing your customer service, designing your website, uploading and distributing your content etc. AND you can be super profitable with this lean online machine.
One of my early mentors, Armand Morin, for example makes over $1million per MONTH in his ‘small’ online business that he runs from home. He told me that he has a team of just 8 people in total (including himself and his wife) and his staff work from their homes…$12 million per year!
So it can certainly be done. But you need to let go of trying to do EVERYTHING yourself. It just takes a bit of practice that’s all.
So, let me ask you, what can you outsource next?
Leave a comment below with your thoughts.