If you’re like me, you have a tendency to try to do it all. . . and like me, you may find that sometimes you can barely hold your head above water much less try out new things. But I’m learning that not only do I not need to do it all but also that my business benefits when I don’t try to do it all. When I bring people onto my team, I shift my business from a “Solo Business” to a “Legacy Business” and increase my productivity and output exponentially.
Many entrepreneurs, including me, start as solo businesses for many reasons:
- It’s easy to start by yourself.
- It’s only you that you much manage and coordinate.
- Plus, all the money you make is yours.
But, then, these things also limit us, right?
- We can only take on so much work because we are doing it all.
- We have to manage all the tasks, even those that aren’t our strengths.
- And our income is limited by how much work we can actually accomplish.
Yet, when we transform our solo businesses into legacy businesses that employ teams to help us meet the needs of our clients, we find that we suddenly have:
- No limits to how much work we can manage.
- Unlimited income potential.
- The ability to focus on those areas that are our personal strengths and delegate other tasks to team members who have skills in other areas.
- And a business that can be sold if we want to move on in the future
So while transitioning from a solo biz to a legacy biz can seem daunting, the key is to work with a team that already knows how to create leveraged legacy businesses.
I agree, I too started on my own and as more work came in I realized that I needed to set up a team if I wanted my business to grow and be more successful. Having a team enables you to take on not only more work but gives you added experience from the different strengths of your team.