Are you running your business or is your business running you? In this week’s episode of Small Biz TV, Steve discusses the challenges of being a business owner and how to overcome them.
Hi everyone, Steve “The Hurricane” here, and on today’s episode of Small Biz TV, we’re gonna talk about The Hurricane Triad, but really focus on life. Life is the most important part of the entire triad.
As the owner of a seven-figure business, I came up with this triad, because this is what’s important. It’s what’s important to me, it’s what’s important to each and every business owner. I’ve worked with thousands of business owners over the last six or seven years, and every single business owner talks about their business and they talk about their desire to acquire more clients, but they also talk a lot about their life. And are they living the live that they want to live?
Do I have the quality of life that you want? I’ll never forget, I was out with my videographer, who’s right behind the camera now, John, and we were at an Italian ice shop. It was during the summer and his son knew another child that was there. So then John goes and starts talking to the father, and the father owns this business that’s doing about $700,000 to $800,000 a year. And he has owned this exterminating business for about 15 to 16 years. John brings him over and we start talking together, and I said to the individual, you know, what are your challenges in your business?
He says, “I’m not hurting (financially), but I’m still crawling around in basements and crawl spaces. I’m the only person in the company that can sell and if I don’t do everything myself, we don’t run efficiently. I’m happy that we’re doing $800,000 plus a year, but I really thought that we’d be doing over a million. I really thought that we’d be doing seven figures a year right now.”
I told him that he need systems in place to be able to sell. You need to get some operational components in there, so that you can take some time off. You’re working 60-70 hours a week, for this business, but it sounds like, instead of you running your business, your business is running you. And this is something that so many entrepreneurs suffer from. Now, how do we overcome this?
Well, it’s gonna take several things. One, you gotta invest. I share this with you, because when I first started my company in 2012, I was in your shoes working 100 hours a week. I was doing everything myself. I’d hire staff and I thought I couldn’t trust them to do things. I didn’t know how to let go, I was doing it all myself. And the company growing, but it wasn’t growing the way I wanted it to. It was getting to a point where I was stressing out and I was so concerned over the things I didn’t have. I didn’t appreciate what I actually did have, which was, at the time, a six-figure business.
I didn’t have to do everything and I had quality of life and time with my wife and my kids. Well it wasn’t until 2014 when I had this wake-up call. I started to appreciate things. I started to look at my business differently. Instead of looking at what we didn’t have, and who I don’t have working for my team, I started saying, who do I have? How can I better shape my team? How can I better manage my team?
One of the first things I did, invested. I had found a company that could help me scale and grow my business to seven figures and beyond. And I invested over the course of 2014, ’15, and ’16, a hundred thousand dollars. That’s right, I invested $100,000 in support and systems and operations to help me grow and scale my business. Now, four years later, 2018, I own a multi-million dollar coaching business. I have multiple divisions including health care, mindfulness, and for small business. I am also the co-founder of nonprofit called The Institute for Dignity and Grace.
Except for when I travel, which I do travel around 20 weeks a year to speak at conferences or conventions, I work around 20 hours a week. Which means I have a great marriage, I spend plenty of time with my children and we can go wherever we want. We can do whatever we want. I serve at my church as a deacon. I visit people who are shut in and pray with the elderly. I preach at nursing homes because that is my true passion. That’s the life that I wanted to create for myself.
I hope this message helps you. That is what we’re here for. This is what we do. Give us a call and talk to us about our coaching services. We are here to help you! So that’s Small Biz TV for this week, folks, God bless, have a great day.