Starting up a brand-new business has always been an uphill climb, but today it is even more challenging to start, grow, and scale a business than ever before.
Sure, you have access to more tools, more technology, and more resources as a small business owner today than anyone has ever had in the past. But so does everyone else – and that puts you smack dab in the middle of the most competitive business environment that’s ever existed.
To grow your business, to scale your business, and to create the kind of financial future you have always dreamed of you really have to be smart and savvy about the steps you take, the strategies you utilize, and the tactics that make all the difference.
Here are some tips and tricks to help you really hit the ground running!
Change the way you approach your pricing strategies
If you are in a service-based business there is literally NOTHING worse that you could do than charge by the hour.
Trading hours for dollars is a pretty standard approach throughout the service-based world, but it kills more businesses than it creates and you’ll never have enough time in the day to build the kind of income stream you need to have a real business and not just be the boss of your own job.
Immediately start to focus on billing in a “value approach”, charging your clients based off of the value that you bring to the table. Take all of your preconceived notions about what your clients can pay or what they may be interested in paying right out of the equation and watch as your income skyrockets through the roof.
Create systems ASAP
The overwhelming majority of small business owners today do not actually own a business, but instead start a job that they get to be the boss of – which usually ends up making them more a slave of their career than they ever would have been as an employee.
You need to start thinking about working on your business as opposed to in your business, and that means systemizing and delegating as much of the day to day work as humanly possible.
Yes, you’re going to need to handle a lot of the heavy lifting in the early stages of your growth and development. But you want to build systems along the way, refine those systems, and document those systems so you can hire out this kind of work as soon as you’re able to – as soon as you have the money to – to free up your time, your energy, and your focus to build your business even bigger.
Make your business work for you
The worst thing you can do when you start a business is get into this kind of operation looking to do as much of the hands-on work as possible. Sure, you’ll probably feel like you are saving money by doing most of the work on your own rather than hiring employees to do it for you – but you’ll never get out of the office and you’ll never grow your business.
You don’t want to run the trains – you want to own the trains and have someone else keep them up and running for you!