One of the biggest myths to growing a business is to work longer and harder. While it may work when you are in the early stages in the business, it will hold you back in your long term true potential to maximise your profits.
I’ve worked with business owners earning between 1 to 5 million dollars and they are feeling overwhelmed, stressed and tired because they are stuck on this mindset. They are burnt out because they keep on working to generate more money but it isn’t happening.
The three main reasons to having this dangerous mindset are:
1. Having a “do-only” mentality but not a leverage and leadership mentality.
2. Looking at your business through a trades person’s view but not from an investor or business owner who wants to get the best level of ROI from their time and money.
3. Thinking that nobody else can do the job(s) better so you do everything yourself thinking that it will save you time and money.
We coached my client, Sam, who was working 70 hours a week, but as he learned how to leverage on his team, he now works only 30 hours a week. He learned how to implement better team and systems which gave him better bandwidth to focus on business growth.
He grew to the point when he could afford to bring more people in and it made him achieve more while doing less.
So do less, leverage more and achieve more in the long run.