You’ve been hustling away in your online business for a while now. But you’re just not seeing the results you hoped for.
You’re not getting the traction you anticipated.
You’re working longer hours than you ever did in corporate.
And you’re starting to wonder: maybe I’m just not cut out for this entrepreneurship thing.
You’re tired. You’re stressed. Maybe you’re burned out from doing it all yourself. Or maybe the turnover on you team is making it impossible to get in the groove.
As a Certified Online Business Manager, I’ve worked with dozens of creative entrepreneurs, OBMs, and VAs just like you. And here’s the good news:
I’ve zeroed in on the top 4 reasons why online businesses stagnate. And if you’re ready to hustle, there’s a solution for every single one of them!
Here are the top 4 reasons (and solutions!) for why your online biz isn’t growing.
You don’t have a team
For early-stage online entrepreneurs, the first hire always feels pivotal.
Maybe you’re hiring a part-time employee. Or maybe you’re outsourcing content creation to a copywriter or agreeing to an ongoing retainer with a web developer. Regardless, making a commitment – and placing trust in an external party – is a HUGE step!
Because it means your business is growing. But even more importantly – it means you’re beginning to understand the value of your time.
In the early days in online business, you’re high on the hustle. And because it’s all brand new, you’re happy to hold sales calls, write blogs, create graphics in Canva, and tinker with your website late into the night. But that’s not how empires are built.
And this is the advice I give to all of my early-stage biz-clients: the second you have a solid client base and recurring monthly revenue: delegate the shit you HATE doing. (Tweet it!)
For me, this was blogging. I’m not a writer. And I just don’t enjoy it. So for me, hiring a content professional in my business was a game changer. Instead of spending hours each week brainstorming content and pulling teeth to get it written, I leveraged those hours to hold more discovery calls with potential clients and make more sales.
Because let’s face it: you CAN do it all. But you can’t SCALE a business when you’re doing it all.
You aren’t leveraging your team with systems
Sermon alert. The Queen of Systems is ranting again!
I hear from online entrepreneurs all the time who say: why should I grow a team? The more team members, the more meetings. The more meetings, the less time I have to spend in my zone of genius. What’s the point?
The point!? No team, no vacation from your online biz.
No systems, no peace of mind when your team is holding down the fort!
Here’s the thing. Building a team and building out systems go hand and hand. If you’re building a team without systems, you’ll be micromanaging your team for the rest of your life.
If you have team members managing or implementing recurring tasks in your business, they better be documenting SOPs. Otherwise, you have no insurance policy in your business! If a team member leaves, you’re back at square one, training a new team member from SCRATCH.
I always tell people this: my business wouldn’t be where it is today without my team. But without systems, I would have burned out on team management before I even made it to my second hire.
You aren’t nurturing your team
As an OBM, I’ve spent years working with creative entrepreneurs in all stages of business. And I’ve always found it fascinating how common it is for business owners to lose touch with their team’s needs. How quickly they can pivot from inspiring leaders to disengaged leaders. And how, after years of working to build & nurture a talented team to support their vision, they fail to nurture their team at scale.
“If we want to be good leaders, it is our job to help the people we lead or work with, be good at their jobs.” – Simon Sinek
This failure to nurture can come in many forms. Failing to thank & reward your team when their hustle allows you a much needed vacation or extended break from your biz. Adopting a “do as I say, not as a do” mentality about following the systems you expect your team to follow. Failing to delegate projects as you expect your team members to delegate to each other, and to you. Not offering professional development opportunities and new challenges to your most loyal team members. Or failing to mindfully nurture a dedicated team member into a new, high-value role in your business.
The essence of leadership in a team based business? As hard as it may be, sometimes you just need to shut up and listen.
“Leaders accept feedback. Good leaders welcome feedback. Great leaders demand feedback.” – Matt Dunsmoore
You aren’t open to a big pivot
If you had asked me three years ago if I’d ever create and lead an online course, I would have laughed.
I had a one track mind. I was focused solely on serving my clients, growing my team of OBMs to serve MORE clients, and marketing my OBM services.
But one day I noticed…there were quite a few people on my list who were VAs, OBMs, or online service providers. I assigned a team member to comb through my (then pretty small) list to investigate and do a little e-stalking.
And it turns out, it wasn’t just quite a few. Half of my list was made up of my fellow online service providers! Half of these people didn’t want to work with me, they wanted to work LIKE me.
And Team Growth Formula was born!
With team and systems, I’ve had the freedom to create and scale online courses, virtual trainings, and ridiculously juicy freebies that I never had the bandwidth to consider when I was doing EVERYTHING in my online business. Without my team, I would have missed some of the most important opportunities to pivot in my online business.
All together now:
Teamwork makes the dream work!
Now over to you: feel like your online biz is stagnating? Which one of these categories do you suspect you fall into? Share your struggles in the comments below – my team is here to help!
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