Why Your Remote Business Is Not GrowingJul 19, 2022
If you prefer the video form of this blog, please watch our YouTube video: Click here to be redirected to the video on YouTube
Your remote business has reached a standstill, you feel like you have no time in the day to focus on anything but problem-solving and assisting your team with issues. You have noticed that something needs to change if you want to free your time and grow your business.
If this sounds like you, then be sure to read this blog article until the end!
Today's blog is jam-packed with why your business is not growing and more importantly how to fix it.
It is my mission to help business owners around the world grow their remote teams, free their time to focus on the growth of their business, and build a life of freedom. If you are struggling with these elements of your business then book a free strategy call with us to see if you qualify for our online program: Fill out the quick form to book a session with us
Let's jump right in!
There are 6 Stages that we go through as a business owner and if you can relate to what I am going to discuss now, well then my friend you are in the 6th stage and action needs to be taken so that your business scales rather than fails!
- You may have reached a point in your business where it feels stagnant.
- Your day consists of assisting your team with issues.
- You never have time to focus on the growth of your business.
- You hardly have time to focus on your main tasks, never mind quarterly goals and growth.
- You feel like you are constantly putting out fires
- You may even be reaching a point of burnout and you are over the struggles that come with managing a team and building a business.
If this sounds like you fear not because this is the normal growth cycle of a business owner.
The good news is that you have reached the stage where your business is profitable, has grown so much to get to this point, you have a team in place, and many clients coming in.
However, everything is at a standstill because you don’t have time to focus on any of the important elements of growth.
I am going to discuss the stages of a business owner's life cycle and why 60% of businesses fail at the 5-year mark and what you can do differently starting from today.
Stage 1: The drained employee
I am over my job, I want to work for myself, I want to be my own boss, I want to free my time and reach financial freedom. I need to quit! I have a great idea and I am going for it.
Stage 2: The inspired entrepreneur
I have quit my job and started this new venture, I have so many great ideas flowing, and I am so happy and excited I have chosen this path.
Stage 3: I need help desperately!!!!
I am overworked, and I need help managing my business but I don’t trust anyone to run my business better than I do.
Stage 4: Starting the hiring process
I started hiring, but I don’t really know what I am doing, where do I start? Who do I need to hire first? Am I doing this correctly? …. This is scary, how do I even write a job description?
Stage 5: Starting to grow and hire
I have made my first hire, and that wasn’t so bad, more clients are coming, business is growing, and I am hiring more talent.
Stage 6 - The fail or scale stage, if you have stayed this far into the video, then this is probably the stage you’re at.
- I feel burnt out, my team requires so much from me, I need to always be available, and I am constantly putting out fires.
- I need to hire more team members but there is no good talent out there and I don’t think I can take on any more. I feel my business has reached a standstill.
- I don’t think I can handle any more pressure and stress, there are no hours left in the day.
- I am starting to feel that my business owns me rather than me owning my business.
- I thought having a team would free up my time but I had more time when I was an employee, at least I could take weekends and evenings off and have a holiday once a year. What even is a holiday…..
- My business is stagnant, it's my goal this year to free up my time so I can focus on growth and take time off, but I have no idea how to achieve that.
- I have come to the realization that I need to free my time to focus on growth but where do I start? I am exhausted
And my friends this is the stage where most businesses start collapsing, you see there are very valid reasons why you have reached this stage and the great news is that all of the problems in this stage can be resolved.
To put it in simple terms, your business is lacking a solid hiring process, that delivers results with every hire, that you can just copy and paste into your business. And then it is missing processes and systems, a lack of processes and systems is the very reason why you don’t have a single second in the day.
You see when you lack these elements in your business, YOU are essentially the system and process. Your employees are coming to you for everything because they have not received proper formal training when joining and once training is completed they don’t have systems and processes to follow so that you can be removed from being there every second of the day.
This is why your business has reached a standstill, there is only one of you and if you have not formed processes and systems to replace you there is only so much you can do in a day which is why your business will never grow if you don’t get this right. Processes and systems are the driving force behind any successful business.
Let’s take Mcdonald's as an example, now I am not a Mcdonald's fan by any means, but I can appreciate the scale of their business. The brothers died years ago and the business is still thriving, doesn’t matter where you go in the world you can stil expect to receive the same taste. Why is that? Well my friends they have systemized their business to the point that it can just be copied and pasted globally and, people can just be trained and follow processes globally, doesn’t matter which country, city, or the age of the employee.
This is the goal you should have in mind every time you find yourself running around like a headless chicken, stop and ask yourself what process is missing here that isn’t allowing you to free your time and fix it immediately.
Don’t worry, if you are a bit confused about the difference between a process and system and how to create them here are some tips to help you:
- Processes are tasks that will repeat in each role and department.
- To put it simply, think of how the role or task could be performed to the best of its ability, without involvement from you, and create a simple process duplicating the results.
- The best way to create a process or procedure if you are stuck is to determine the mistakes that have occurred and create a process to ensure that mistakes do not happen again and that every task runs smoothly.
- Systems are designed to connect all of your organization's parts.
- Systems create the steps needed for you and your team to work together to achieve your business's goals.
- To put it simply, a system is made up of all the procedures and processes in your business. So you have a system and then all the functions that form the systems.
Like every element in your business, if you are not successful in the hiring process it is not because there is a labor shortage it is because you are lacking a results-proven hiring system.
Every element of your business needs to be systemized in order to scale to the next level and not fail!
That sums up this really important blog, I hope that you found it helpful and it got you thinking about how to start making changes in your business.
If you're turning business away because you don't have the team and time to cope and are struggling at hiring. I created a FREE course, The Basics Of Remote Hiring - to help teach you how to hire more efficiently and easily, so you can get back to working on the things that matter most.
Read the course curriculum and join here
Until next time I am wishing you peace, happiness, freedom, and success.
CEO Of Scaling Up Simplified.