One of the fastest ways to stop your business from growing is by doing the operations yourself. Yes, I believe every business owner should be able to do the operations, but dont stay there forever.
Master the operations, move up quickly to doing the strategic part which is decision-making and finding a flow of customers.
Are you tailor? If you sit on that machine everyday, you will produce 2 dresses worth, say, 10k a day. If you stand up from that machine and go in search of customers, using both online and offline techniques, you can make 300k a day.
Teach the operations. Write the process for them. Write the receipe. Become the quality assurance person.
Check that they are producing high quality output. Increase capacity to take on more operations. Spend your time rolling in the deals. That’s the simple formula to growing a Startup.
Few months ago, I hired a lady with 2 kids from Portharcourt. She paid and attended my course and i liked her. She relocated her family to Lagos and now works at Accountinghub. Yes, it cost us some huge financial commitment to relocate her, get her a house and settle her in, but I got more free time to focus on other strategic things.
I know a Medical Doctor, Dr. Itunu. She runs Medbury Medical Centre. I have never seen her wear a doctor’s white coat. She is a business person to the core. That business is growing in leaps and bounds.
She mastered the medical practise, removed her lab coat and went straight to the strategy part of the business.
She manages well over 400 employees. She started from her personal 500 Naira that she used to fuel the generator the day she started. She can talk accounting and strategy with you for 3 hours. Hires the best doctors and medical team she can find.
Medbury is one of the licensed COVID-centres and serves almost all the big companies in Lagos.
As your business grow, quickly hire very competent people to man operations and move yourself up.
Here is a simple roadmap using a cake-making business as example:
- You bake cakes very well. You launched a cake business. You start selling to family and friends.
- Standardize your recipes. Write them down. Use the receipes to produce for about 3 months. Make any adjustments until the recipe is all perfect
- Hire a good baker. Watch him follow the recipe for about a month. Be the quality assurance person who guides him to do things exactly the way you want it.
- Once he can stay on his own, hire a girl to take orders. Design a simple order form that contains all the important questions – size, flavour, what to write on the cake, date of the event, etc
- Train her to pick calls and talk with respect, yet audibly. Even teach her to write very clearly.
- Teach the baker to collect her orders and interprete them properly
- Once the girl and baker are settled in, make a list of companies around you. Drop off proposals to make birthday cakes for all their employees at 10k each. They only need to give you a list of their staff and you will do the job of remembering and billing two weeks ahead.
- Close as many deals as possible. I can personally close at least 3 deals a week. In one month, I’ll have 12 corporates and no less than 50 employees on my list.
- Next, build a list of family and friends and their brithdays, anniversaries, etc. Start firing your daily instagram and whatsapp posts to remain top-of-mind
- Roll out more and more brilliant strategies
- If the Baker is overwhelmed, hire another
- Keep finding time to enter the baking room and look at their work
- Spend more time rolling in deals, sending out invoices, making calls
-Welcome to the world of millions every month
Now ask yourself where you would have been if you sat at home baking yourself. You will have 50k or less every month.
At Accountinghub, I speak with all prospects, close the deals, and send the job to a Manager. I cannot remember the last time I made a single entry into the Sage software. I focus on selling the business online and building high-quality offline relationships.
I am not the one who does the core accounting work. The team do it.
I do all the marketing and all the knowledge selling and all the strategy. I am hoping to get help with those, as soon as I master them.
I hope someone takes something from this post.
Your business is small because you stayed too long doing the operations yourself and arguing with everyone who tries to advice you that you have no capital to launch out.
Making money and making excuses don’t go together. You have to choose one.