It can be REALLY tough to run a business, especially once you hit 6-figures and beyond.
The struggles are not talked about enough, often swept under the rug – brought to life only in tearful late-night discussions or moments of extreme frustration.
If you aren’t prepared to navigate this stage of growth – what I like to call the bursting point – you may find yourself experiencing some of the following:
- You are (finally!) making money… only to see it all go right back out the door again and you have no idea where it went. (YIKES!)
- Instead of working less, you are now working 24/7 trying to get everything done, there is no light at the end of the tunnel and you have no idea how you got yourself into this mess.
- You started your business to do what you love, but your day is now full of work that you loathe and you rarely have time for the fun stuff anymore.
- You fly by the seat of your pants in your business, not sure what you are going to offer next and suffering from the roller coaster ride of last-minute promotions.
- Sadly, your spouse and/or kids are asking you why you are working so much and may even be begging you to turn off the computer or put down the phone so they can spend time with you. (also YIKES!)
- Even though you want to grow you can’t possibly take on one more client or project – if you try to cram one more thing in you might just burst!
Bottom line is that you are tired, frustrated and starting to wonder if it’s worth it.
The bursting point is when you simply can’t take anymore without sacrificing more time, energy or money than you are willing to give.
The bursting point is a rite of passage in business – it means you have created something that people want (yay!) but that you can no longer provide all on your own. It’s the stage where demand outweighs your capacity to serve.
This can either be a painful or exciting phase in your business:
- Painful if you keep trying to do it all yourself and serve beyond your capacity
- Exciting if you embrace that your business is becoming bigger than you and it’s time to do things differently
This generally happens in the early 6-figures – anywhere from $100K to $250K depending on your business model and how much you can handle on your own. The number doesn’t matter as much as the experience of wanting to grow but not having the capacity.
Once you recognize you are at the bursting point, there are 3 areas of your business you will want to develop to get through the struggle:
1) Planning
In the early stages of business, you can get away with a spontaneous, take-things-as-they-come approach – but as you grow that’s something you’ll need to adjust. As your number of clients and services grows, planning ahead and strategically mapping out what comes next will reduce the frantic nature of the bursting point, and ultimately your stress level.
Planning is the cornerstone of what a Certified Online Business Manager does in a growing business. One of my main objectives with clients is to create plans that provide clarity & stability.
2) People
DIY can get you to 6-figures but it won’t take you past the bursting point. You need to get clear on what your role is as the CEO (your YES List) and then bring in the right people to take the other work off your plate.
A Business Manager often comes into a business at the bursting point to take the work of getting the right people in place off your plate – the hiring, the training, and the managing of your new team does not have to rest entirely on your shoulders.
3) Process
The only way to create freedom for you, and a strong foundation for your growing business, is to build out systems & processes. Systems keep everyone on the same page, doing work the way you want it to be done. Systems & processes are key to increasing capacity.
As a Certified OBM, this is the kind of work that’s on my YES list. Creating & implementing the SOPs that are going to keep your business running smoothly – without your input on every detail – that’s my sweet spot.
The bottom line is – what got you to 6-figures is NOT going to be what gets you through it (and beyond.)
If your vision is bigger than your bursting point it is time to make these changes. And if you are looking for support with this, I’d love to connect.
