The Solopreneur's Dilemma: When Your Business Outgrows Your Expertise

Jun 4

Taking the Entrepreneurial Plunge usually starts with a good idea. But what happens when that idea works too well?

At Business Development Machine (BDM), we see this constantly. Our clients include the IT Cyber Security contractor who started as a side hustle and now has a team of eighteen, or the plumbing contractor who grew to three million dollars. They survived the initial stages, but now they face a new set of challenges.

The Time Trap

These businesses are continuing to grow, but the owners can't seem to find the time to get away for quality family time. They are trapped in the "run around" of Survival Mode, putting out fires and dealing with the daily chaos of an unoptimized operation.

They are working more hours for much less take-home income, and the dream of freedom and wealth that drove them to start the business feels further away than ever.

The Management Gap

The root of the problem is that these companies may have grown beyond the point where the founders have sufficient management expertise.

The outside world has a glorified, rose-colored view of the typical small business owner as a sophisticated, all-knowledgeable entrepreneur. In reality, most are street-smart. While they have good industry-related skills, most lack the skills to develop or use sound management systems in their businesses.

The Need for Systems

To break out of this trap, the owner must navigate the Leverage Zone Shift. They must stop relying on their own technical expertise and start building a closely knit interlocking closed-loop system.

This requires a "working with you" methodology to implement proven and field-tested processes. It means replacing the residual process of management with a system of predetermined profits. Only by establishing these controls can the solopreneur transform their overgrown job into a smooth, easy-to-control, and very profitable business.

Has your business outgrown your management expertise?