There are a number of reasons why you want to scale your business out of the start-up phase and onto the bigger revenue levels.
For one reason, you can spend more money and make more money with a bigger business. You have more resources and capital, you can hire more people and you can invest in bigger marketing campaigns.
However, there’s a darker reason. Having a start-up business takes a psychological and physical toll on you. You don’t want to spend years and years owning a start-up business. You want to grow out of that stage as fast as possible.
In this video, filmed at the Titanium Mastermind in Jamaica, Norbert Orlewicz explains the danger of owning a start-up business for too long.
THE START-UP PHASE CAUSES PSYCHOLOGICAL DAMAGE
The longer you go without making money, the more you accept subconsciously that this is your natural state of affairs.
If you spend 3 years running your business and only making a modest 5 figures a year, you will start to believe that you and your business are incapable of anything more. Even worse, if you go for many months without making a single sale, you’ll start to seriously doubt yourself.
You’ll think, “this doesn’t work, I can’t do this” and fall deeper into the negative hole.
This is why it’s critical to build momentum, jump in head-first and make as much headway as fast as possible. When you make your first sale, you prove that you can do it and it becomes more real.
Do whatever you can to get to that point sooner rather than later.
THE START-UP PHASE WILL OVERWORK YOU
In the start-up phase, you have to do everything. Copywriting, design, book keeping, customer service. You have to do them because you can’t afford to hire.
When Norbert and his business partner started their company, they answered customer service tickets between midnight and 2.
Why these hours? Because their daytimes were busy with cash generating activities – sales, marketing and product development. Customer service did not generate cash, but it still had to get done, so it got pushed right to the end of a very long day.
When you take the responsibility for everything that’s involved in running a company, you must expect long days like this. But it’s not sustainable. It will take its physical toll on your body and it’s not the kind of lifestyle that most people truly want anyway.
Unless you want to forever be stuck with the long days and gruelling work of the start-up lifestyle, you need to start hiring and managing a team.
The MOBE Titanium Mastermind goes into more depth on this topic. Members learn how to outgrow the start-up phase and scale their businesses through successive revenue ceilings. To learn more about the Titanium Mastermind, click HERE.