When your business is at $0, you do all the roles yourself. You are the sales department, the accounting department, the tech department and the customer service department.
As overwhelming as it may sound, you can handle it. You don’t have that many customers to service.
But what happens once your business grows to $10,000 a month, and you have too many customers to handle yourself?
In this video, I talk about the changes we implemented at MOBE that allowed us to scale from a small company into a larger one.
YOU ARE THE BUSINESS
When you start your business, you handle all the roles. The business is you.
In this stage, only 5% of your time and energy should go towards the operational roles such as accounting and tech. 95% of your time and energy should go towards sales and marketing.
Most of your time should be spent placing ads, hosting sales webinars, bringing in new business, getting on the phone with customers and helping them buy a product.
Assuming everything goes well, this will take you to your first $5,000 month and your first $10,000 month.
This was my role with my business up to 2011.
THE REVENUE CEILING
Prioritizing sales and marketing at the expense of other activities will get you to $10,000 a month, but it will not get you much farther. This is the first “revenue ceiling” you’ll encounter in your business.
With MOBE, we encountered this in 2011. We’d started to build up a decent customer base, and I started getting 15–20 emails per day from customers.
Previously, I’d handled all the customer support myself, because there weren’t so many requests. Now, there were a lot, and the role required much closer attention.
I responded to this “revenue ceiling” by hiring our first customer support rep. We also migrated from email to a more manageable customer support desk software called Zendesk.
This enabled us to break through our first “revenue ceiling.”
By early 2012, MOBE was doing over $80,000 in monthly revenue. We were selling a $97 front end product, and I would get on the phone with every customer to help them buy a $2,000 product.
I could get 1 out of every 3–4 customers to buy, but I was on the phone for 6–7 hours per day!
I was the sales department. With the way our business was scaling, I knew that was not sustainable. At this point, we hired our first 3 sales reps.
With our new sales department, 2012 saw us scale from 6 figures to 7 figures in annual revenue. That would have been impossible had I continued to do all the sales calls myself.
Becoming overworked in your business is a good thing. It means your business is growing and it’s time to start hiring. If you respond to this challenge correctly, you’ll break through your next “revenue ceiling.” That’s how you scale your business.
The MOBE Titanium Mastermind goes into more depth on this topic. Members learn how to start hiring and scale their businesses through successive revenue ceilings. To learn more about the Titanium Mastermind, click HERE.