There’s a common misconception that freelancers are living the dream because they’re calling the shots by being their own boss. So I’m going to let you in on a secret – in truth, many people find themselves burnt out and overworked instead of having ALL the freedom in the world.
When you set up business on your own, you wear all the hats. As well as delivering a service (party hat), you’re also responsible for marketing (baseball cap), sales (Fedora), IT (beanie), accounting (boater), customer service (beret)… the list is endless!
Even if you entered the freelance life to give yourself freedom, you could soon find yourself with a boss (you!) who’s demanding longer workings hours and fewer holidays. In fact, in the end, it’s just blooming well easier to avoid taking time off.
What was initially the best job in the world, quickly turns into the worst.
To create a business rather than just a job for yourself, you need to learn how to scale and grow.
Michael E Gerber’s book “The E-Myth” breaks the stages of business development into infancy, adolescence and maturity. They’re also known as technician, manager and entrepreneur, respectively.
While people who run own business might refer to themselves as an entrepreneur, many are actually in one of the earlier stages.
As a technician, in the infancy stage, you’re brilliant at what you do and want to use those talents to make money for yourself instead of someone else. In this stage, your earnings and success are often limited by the hours you choose to work.
Businesses get stuck in infancy because their owners are working too hard on the wrong things. The solution is working smarter not harder. Do what you’re best at and don’t waste energy struggling with the rest. This is where developing a team comes into play.
Your business adolescence is when you realise that you need help to achieve your goals. Employing others to do the things you’re not good at or don’t want to do helps you to scale your business and provide a better service to your customers without increasing your own workload. This is the manager stage.
Business owners sometimes make the mistake of handing over too much control. If things don’t get done properly, managers may take back these tasks and revert to technicians, even if it means working long hours.
When your business reaches maturity, it’s able to run on its own without you. Collaborating with the right people, making smart plans and expanding your business will enable you to generate income and provide a great service with minimal involvement.
This is the entrepreneur stage. An entrepreneur isn’t just out to make money for themselves; an entrepreneur makes business decisions, spots investment opportunities, creates beneficial relationships and is successful without being overworked.
Success Comes from Support
Building a support network is vital to business success. Because you don’t have to do everything on your own, your network boosts your confidence, keeps you accountable and maintains your energy levels.
This support doesn’t necessarily have to be from hiring employees. You could work with a business coach or mentor, find an accountability partner, or pay freelancers and contractors to work on projects with you.
Whatever you do, remember that success doesn’t come from working alone; success comes from working as a team.
Let Me Support You
If you’re a Virtual Assistant who wants to scale your business, I’d like to offer you the chance to invest in my training program.
I’ll teach you how to build the right connections and leverage the skills of your network to allow you to do more, be more and make more. Find out how I can help you scale your business for success here.