Are you doing well financially, but not at the level you want?
It turns out there are two natural laws keeping you stuck in neutral. If you don’t know these laws, it feels like the entire universe is fighting against you being happy and successful in your business. But if you know them and how to work with them, you can turn them in your favour.
First Natural Law
The first is the law of entropy. As we know from science, things tend to move towards chaos, not order. So many business owners think that their businesses should simply get more organized and simple as things get bigger. If you earn more money, shouldn’t it become easier?
But it turns out, nothing in the natural world works that way. And neither does business. Unless you put energy into creating the business you want, it’s just going to get more and more chaotic over time. You need to work hard at scaling what you do. That means having a concept, business model, market and processes that drive you towards your ideal customer and ideal offering.
Second Natural Law
The second law is the law of metamorphosis. Just like a caterpillar needs to turn into a butterfly, your business needs to shed its skin and morph into something bigger and stronger. And the scary thing is, that often means significant change – sometimes giving up the very thing that got you success to begin with.
It’s like a rocket taking off into orbit. Once that rocket is nearing orbit, it needs to shed the very rocket segments that got it there. Are you hanging onto dead rocket segments in your business?
It’s a tough question to ask yourself because we’re attached to those things that launched our business. But eventually, you need to let go of those pieces and change into a more scalable model.
Assess Your Own Business
Here’s a quick assessment to see if you’re stuck in neutral.
1. Do you have a scalable product you can deliver? Or are you maxed out in your ability to deliver?
2. Does your business generate diverse, stable and recurring revenue from your customers? Or is it “feast or famine” month after month?
3. Can you remove yourself from your company’s processes? Or, if you couldn’t work, the entire operation would fall apart?
If you answered “no” to any of these questions, then you have a business that cannot scale as it is today. Think carefully about how you would address these three problems.
There Is a Way Forward
- Change your target market to reflect the people you want to work with. And change your product to something that could scale.
- In addition, build a marketing system that creates lead generation, builds relationships and closes sales.
- If you change your business into one that allows you to step in and out, you will be on your way to finding the entrepreneurial freedom you’ve always wanted.
Excerpt taken from Frank Bria's article worth sharing