March 2023
“I'm NOT A MILLIONAIRE and this is exactly how much help I have”
Part 3 - 'What I Learnt'
Head back to the homepage to catch Part 1 & 2!
From the desk of Skye Barbour.
Oxford, United Kingdom.
Creator of Leadership Dynamics™️ Evolving business leaders and their teams to own their unique powers and approach growth with ease.
Remove the excuse that’s holding you back
Next, I reviewed where I was being held back in my business.
There were certain tasks that were constantly on my to-do list, and I never found the right time for them.
Money.
Not just the slow cash flow - but the organisation of it.
Organising my finances filled me with dread. I would lie awake at night worried I would have the tax man after me, or that no one would think I was professional with my lack of invoice set up.
… so I stopped asking clients for money, and quickly saw the effects of how my mindset was limiting my business growth.
Time to get onboard the professionals.
Firstly, my accountant, who took so much worry off my shoulders thinking about what I should or shouldn’t be paying.
Secondly, a brilliant bookkeeper. Starting at £50 / month, this was one of the best investments.
Thirdly, a mindset coach.
I no longer needed to worry about my money matters being up together and professional.
This then allowed me to see how I could improve my business further, not allowing my fear of finance to hold me back.
(side note: for an additional payment, she then started invoicing my clients too so I didn’t need to do what I hated!)
Time wise - they saved a fortune.
Yes, money. Because time is money.
I was able to better use my strengths in other areas of my business.
Even better - that feeling when your bookkeeper and accountant email each other to set things up on your behalf and you stay in the loop but don't have to action anything!
With this renewed energy… and positivity around money…. My business grew again.
Now at £4-5k per month, the admin tasks were building up, I made a major fail…. Asking myself totally the wrong questions. I said to myself “what hire does every online business owner need?”
… what would you reply…?
A Virtual Assistant. Isn’t that every online business owner's first “proper” hire?
Well…
£35 per hour, buying in blocks of time, this started to feel like a major commitment.
“It’s ok. I’ve got this. I need it to grow”, I told myself. Like a VA would be the silver bullet to solve any busy patches I was having and removed the things off my to-do list.
I asked for a recommendation, and hired the first VA I spoke to. Things were building up and I “didn’t have time” to do any more.
Falling into the trap, I tell every client to avoid.
She was lovely, seemed professional. I signed her docs and off we went.
Except, there were weeks between communications, my stuff got left and left. Her own VA business took off and she couldn’t cope with the extra work.
After tasks not being completed the way I wanted, her ghosting me, me then ghosting her.. I reviewed the situation.
What was I doing?!
Not role modeling, what I help my clients put in place.
I had hired based on other peoples views, what I thought was the “right” hire for me was and did it reactively. I didn’t put the right foundation in place, didn't communicate with her on my terms. I used her like a freelancer, rather than bringing her into my business and working together.
We ended this relationship amicably and I learnt a lot.
How hiring a freelancer is different, but it doesn’t mean you can’t create the working environment you want in your business.
Instead, I found ways for my home help to take more hours, and more responsibility in an admin role, and hired her as staff on my books.
There was that moment of… am I “big enough” to take someone on as an employee?
Would I be able to pay the monthly wages?
Did I want the perceived pressure?
It felt so grown up and serious to be setting up payroll, pensions and booking in her holiday. Also, the right thing to do, both from her side and my business.
She had job descriptions, formal contracts, an appraisal. We do feedback sessions to this day and set objectives.
It doesn’t matter what job anyone does, you need to ensure expectations are set and communication is clear.
And it’s the best move I have made. She is a dream to work with, takes real ownership of her role and ensures my life and admin run like clockwork.
The business expanded again to £6k months.
Time for my first client facing hire.
Play to your strengths - outsource the rest.
I was seeing my clients time and time again struggle with their numbers in business (like I had) and to ensure we had a sustainable plan for their business… I wanted them to make decisions based upon their evidence rather than gut feel.
Enter my finance expert. Client facing, numbers and spread sheet wizz.
A complete opposite to me, we compliment each other brilliantly.
And for the first time, things were happening client facing as well as behind the scenes without me.
Without me needed to be on the call. Without me even asking for something, my mind was almost read, and the perfect solution for my clients.
Yes, I'm still actively involved and do 80% of the client delivery, but my clients are better supported than ever before my playing to my strengths and outsourcing the rest.
Most recently I have hired in tech support, whilst I can do it, I appreciate it not my zone of genius, and that I can spend my time better elsewhere.
Each month I continue to evaluate, where am I spending my time? What brings me joy? How do I remove the lower value or less enjoyable tasks?
Now I had reached £10k months, I am looking at different ways to expand my team, and be able to better support me and my clients in my business.
This is when I hired Hannah and Bec’s.
Lessons shared
It’s not about taking on help for help's sake. It's having the strategy to ensure I am at my best and my business can grow in a sustainable way.
Whilst having a life I want to live, and being a mother, wife and CEO I choose to be.
I have a vision for my business with 10 employees, key roles being in person and employed, but I appreciate it will take time to get there
I have a vision of the way I am the CEO of my business my own way.
I have a vision for how my business is able to support other business owners and create the same for themselves.
My passion for writing this is to demonstrate three key things.
What Next?
If you require help with any of these above points - come and join The Leaders Way our Facebook community, to help each other design, build and lead the business and team of our dreams.
Enjoy this blog series?
Let me know!
Email me at hello@skyebarbour.com
Ready to discuss how you can also go from doing it all to creating time to do what you actually want to be doing?
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