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A Brilliant “Trick” Your Competitors Use To Get Ahead Of You

This is a continuation of a story how I turned my ho-hum solo practice into a 7-figure business. If you missed the previous lesson start here.

 

How I stopped overwhelm and finally grew my business faster…

 

If you think you are bad at delegation – I used to be the king of “do it yourself” – but no more!

When I was in the restaurant business at one point I had 103 employees. Yet when I transitioned to doing consulting and then coaching and information publishing, allowing other people to help me grown my business was one of the hardest lesson for me to get.

Sometimes I jokingly say, “I’m from Poland – I’m a bit slow.” People laugh. But I’m serious! Because some lessons take me forever to grasp! I also used to say, “I’m from Poland – I’m cheap” – except that my being cheap kept biting me in the butt with expensive lessons.

 

“The Less I Do The More I Make”

 

I heard Ron LeGrand, a successful info-marketer, make this statement when I was just getting started in my consulting business. I had no idea what he really. In fact, I actually misunderstood it for being lazy. (Perhaps that’s another one of my conditioning, “I’m from Poland – I’ve been groomed to work hard!”) Anyway… I didn’t quite get it when I first heard Ron say it.

But something funny started happening after I’d been in business for about two or three years…

You see, I have an amazing gift – an ability to learn things at rapid speed. But I’ve also been cursed – with an ability to learn things at rapid speed. It’s especially true when it comes to all things technology. This seemed to be an advantage when starting an online marketing business. Or so I thought…

Until I started noticing some of my friends, who “didn’t know Jack” about technology, were getting ahead of me. They would sooner master the art of black magic than learn how to make a blog post, yet their businesses were obviously growing faster than mine. How could it be? Frankly, it was pissing me off!

The answer was simple.

 

 

While I was busy doing time consuming technical stuff, they HAD TO outsource it and, instead, used their time doing things that make money – like marketing ;-)

You might be thinking being a “propeller-hat” gives someone a leg-up in building a business using online marketing, but in fact you’re far better off being a bit techno-phobic and having others deal with this part of business.

Today, I’ve finally learned my lesson. I delegate nearly all tasks that are not part of my core unique brilliance and can be easily done by someone else. It was scary at first to take on that extra overhead. Now I wish I had done it a lot sooner.

Great news is that it’s so easy to outsource nowadays. You no longer have to hire employees – you can simply have one (or more) virtual assistants supporting you with different tasks. You also don’t even need office space; a lot of people (even employees) actually prefer to work remotely.

What holds most people back is the fear of not being able to bring enough income consistently to justify the expense. But if you’re not willing to do this, you’re dwarfing the growth of your business. You might actually find that having the pressure of other people working for you, makes you more focused on growth and profits – not a bad side effect, if you ask me!

In fact, I have since figured out a simple formula that allows me to grow my business without outside funds. It’s this:

 

PE → OPM → OPT → Greater Success

 

Let me explain this…

PE stands for Profit Explosion; I explained this strategy in an earlier lesson. I use it to attract OPM – Other People’s Money. Which I can use to buy OPT – Other People’s Time. Which I can use to continue repeating the cycle and continue creating more growth and more success.

It sounds so simple, yet most business owners never figure it out. There’s actually another hidden characteristic here that differentiates the winners from strugglers. But I’ll cover that in my next post…

 

I’d love to hear from you…

 

What’s your biggest aha from this article? Are you still working solo? What are your feelings on hiring help? Take a moment and post your comment below.