Episode Transcript
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0:00
you're feeling stretched thin and you're
0:02
wondering how some entrepreneurs managed to
0:05
run multiple million dollar businesses without
0:07
working 24 -7, this video is
0:09
for you. I used to be
0:12
in the weeds every single day
0:14
answering emails, getting interrupted,
0:17
doing the fulfillment myself. That
0:19
was until I mastered these three
0:21
key strategies that allowed me to
0:23
scale While working last, now
0:26
I'm able to run the multiple seven
0:28
figure businesses in just 30 minutes per
0:30
week. Now, in this
0:32
video, I'm going to share with
0:34
you what to master first before
0:36
you spread yourself way too thin.
0:38
Number two, how to actually remove
0:41
yourself from the daily operations just
0:43
one stage at a time, and
0:45
the number three data -driven decision
0:47
-making that I use to track
0:49
business health in just 30 minutes
0:51
per week. By the way, if
0:53
you don't know who I am,
0:55
my name is Stacey Tushel, and
0:57
I've been a business owner for
0:59
over 22 years, and my
1:01
businesses now produce over $10
1:03
million in annual revenue. Number
1:06
one, master before you
1:08
diversify. Most business owners make the mistake
1:10
of jumping into way too many things
1:12
at once, and they get caught up
1:15
in shiny object syndrome. So
1:17
starting new businesses before the first
1:19
one is actually successful, this
1:21
is a recipe for chaos. And
1:24
you may not know this, but I
1:26
actually own three children's dance music acting
1:28
schools in Milwaukee, Wisconsin. But
1:30
I didn't go big right away.
1:32
My second location wasn't actually created
1:35
until 10 years after my first
1:37
business was started. So instead of
1:39
rushing, I focused on mastering one
1:41
business before diversifying. I didn't create
1:44
well -oiled operations, the business you
1:46
see here, until I was completely
1:48
out of my performing art studios.
1:50
In fact, I had already been
1:53
removed for 18 months before I
1:55
even considered another business. So many
1:57
business owners want to create more
1:59
when they don't have the first
2:02
one dialed in. So say no
2:04
to more locations, more products, more
2:06
revenue streams, and dial in one
2:08
thing at a time. And before
2:10
you just make the assumption that
2:12
you are out of the day
2:14
-to -day operations, do a test
2:16
before you make the next commitment.
2:18
I see business owners lying to
2:20
themselves saying, yeah, I'm not really
2:22
involved. It runs without me. And
2:24
if you watch them for 30
2:26
days, they would have constant interruptions
2:28
and need to jump in to
2:30
save the business. So yes, today
2:32
you see me with three dance
2:34
music and acting schools. And we
2:36
had pre -school, pre -COVID, but
2:38
those things were years apart. We
2:41
started with Just Dance for years, and
2:43
then we added Just Music for years,
2:46
and then we added, you see what
2:48
I'm saying. So make sure you test
2:50
before expanding permanently. I actually
2:52
rented for three years before I committed
2:54
to a permanent location. So don't just
2:57
go from zero to 60. How can
2:59
you dip your toes and just see
3:01
if expanding is really as great of
3:03
an idea as you think it is?
3:05
Can you rent? instead of buying. Can
3:07
you do a pop -up for a
3:09
short term versus gambling on one to
3:11
three years? You need to build strong,
3:13
repeatable systems so the business can actually
3:16
run without you. Ask yourself,
3:18
if you stepped away right now
3:20
for 30 days, what would go
3:22
wrong? What about a year? Because
3:24
this new opportunity will cost you
3:26
and you won't be as available
3:28
when you start something new. When
3:30
you master one business first, then
3:32
you create a blueprint that makes
3:34
growing another one so much easier.
3:37
Number two, let others shine.
3:40
One of the most critical yet
3:42
difficult shifts for business owners is
3:44
letting go of control and empowering
3:46
other people. Many business
3:48
owners believe that their business thrives
3:50
because of their involvement in every
3:53
decision. But in reality, a business
3:55
that depends on you is a
3:57
business that owns you. So to
4:00
truly scale and create sustainability, you've
4:03
got to shift from being the
4:05
central figure to building a team
4:07
that takes ownership. Here's how we
4:10
do that. We build a team
4:12
that doesn't depend on you for
4:14
every single decision. So if every
4:16
question, problem, or approval needs you,
4:19
you're the bottleneck. Instead, we
4:21
want to hire leaders and not just
4:24
employees, people who take
4:26
initiative and feel confident solving
4:28
problems. We want to clearly
4:30
define roles and responsibilities so
4:32
everybody knows who is accountable
4:34
for what. You'll also need
4:36
to establish a decision -making
4:38
hierarchy so that team members
4:40
have the authority to act
4:42
without waiting for you. If
4:44
your team is always waiting
4:46
for you to approve pricing
4:48
changes, create a pricing approval
4:50
process or guidelines so they
4:52
can confidently make those decisions
4:54
within set parameters. Number
4:56
two, create systems and processes that
4:58
allow others to take the lead.
5:01
So when systems are in
5:03
place, people can follow structured
5:06
workflows without needing your input.
5:08
So focus on those SOPs,
5:10
standard operating procedures for recurring
5:13
tasks. automated reporting
5:15
dashboards so the team can access
5:17
key data without needing to ask
5:19
you. And then set up team
5:21
meeting cadences to keep communication flowing
5:24
and have accountability. So instead of
5:26
being the only one who monitors
5:28
finances, Implement a weekly financial
5:30
review process where a team member
5:32
presents those key numbers before you
5:35
even need to ask. And next,
5:37
develop trust by training and empowering
5:39
the right people. Many business owners
5:41
hesitate to delegate because they don't
5:43
fully trust their team. But
5:45
trust isn't automatic. It's built
5:48
through consistent training and empowerment.
5:50
So invest in leadership development for
5:53
key team members. Use
5:55
incremental delegation. Start
5:58
by handing off small decisions that if they
6:00
mess up, it's not as big of a
6:02
deal. and build from there. And
6:04
then recognize wins publicly because you
6:07
want to reinforce their confidence and
6:09
independence so they feel comfortable doing
6:12
this without you. If you're hesitant
6:14
to let a team member lead
6:16
client meetings, start by having them
6:19
co -lead while you observe. Then
6:21
gradually step back until they can
6:23
handle it independently. Number four, remove
6:26
ego and step away. A business
6:28
design to function without you is
6:31
a well -oiled operation. The
6:33
goal is not for you to be
6:35
needed, but to create something that thrives
6:38
without your presence. So
6:40
accept that your team may do
6:42
things differently and that's okay. Shift
6:44
from being the operator to being
6:46
the innovator, focusing on big picture
6:49
growth instead of in the weeds
6:51
in the day to day. and
6:53
celebrate when your team shines without
6:55
you. This is a sign
6:57
of true success. You win
7:00
when your team wins. The biggest
7:02
mindset shift? Your success
7:04
isn't about how much you
7:06
do. It's about how well
7:08
your team performs without you.
7:11
If your business can grow without
7:13
your constant involvement, you've
7:15
created something scalable, profitable,
7:17
and sustainable. And
7:19
that result is going to get you more
7:22
time, more profit, more freedom. And this is
7:24
the exact type of thing we help business
7:26
owners with. If you want to find out
7:28
how well oiled can help you streamline and
7:30
scale, you can book a
7:32
free 60 minute strategy call at
7:35
bookwoocall .com. And the last big
7:37
point I want to make is
7:39
data driven decision making. So when
7:41
you step back from the daily
7:43
operations, the key to staying in
7:45
control without micromanaging is having the
7:47
data -driven decision -making. The goal
7:50
is to get a clear picture
7:52
of your business in just 30
7:54
minutes per week, not spending hours
7:56
sifting through unnecessary details and metrics
7:58
and KPIs. So here's what you
8:00
should do. Number one, non -negotiable
8:02
is a profit and loss statement,
8:05
a PNL, your business health check.
8:07
Your P &L statement is like
8:09
a financial scorecard that tells you
8:11
if your business is trending up
8:13
or down. Rather than getting lost
8:15
in every expense, just focus on
8:17
what was your revenue? What
8:20
were your expenses? Are we
8:22
growing? Stable? Shrinking? What
8:24
were your profit margins? Is your
8:26
profitability staying healthy? Take a peek
8:28
at cash flow. Do we
8:31
have enough liquidity to sustain growth? Do
8:33
we have cash reserves? Now,
8:35
instead of reviewing your P &L in
8:37
isolation, compare it to last month and
8:39
last year, this is going to help
8:41
you spot trends and adjust your strategy
8:43
before problems arise. So what I mean
8:45
by that is when you look at
8:47
how much you made and how much
8:49
you kept, it might not
8:52
mean a whole lot to you. But
8:54
when you see this is what we
8:56
did this month, But compared to last
8:59
month, here's what's happened. You might go,
9:01
oh, wow, why are we down? Why
9:03
are we up, right? Or you might
9:05
have a seasonal business where September really
9:08
has nothing to compare in August. They're
9:10
very different months. But you might want
9:12
to say, okay, this September we brought
9:15
in X. What did we bring in
9:17
last September? And that data might really
9:19
help you. You'll want to make sure
9:22
you have critical KPIs, key performance indicators.
9:24
And these are just the numbers that
9:26
matter the most. Not all numbers are
9:29
created equal and your time is really
9:31
valuable. So we only need to focus
9:33
on one or two key performance indicators
9:36
per department that actually impacts the profitability.
9:39
Here are some department examples. So
9:41
maybe in marketing, you are tracking
9:43
cost per lead and the lead
9:45
to sale conversion rate. In sales,
9:47
it might be new customers acquired
9:49
this week and revenue per sales
9:51
rep. In operations, you might be
9:53
looking at the customer retention rate
9:55
or fulfillment speed, maybe in finance,
9:57
profit margins, or accounts receivable aging.
10:00
And the biggest pro tip I
10:02
can give you is get a
10:04
dashboard. Use Google Sheets, Monday, Notion,
10:06
whatever you want, where the team
10:08
updates these numbers weekly so you
10:10
can just go in there and
10:12
track at a glance. From there,
10:14
we want to do team check
10:16
-ins and get fast and effective
10:18
updates. Instead of long, unnecessary meetings,
10:21
use structured check -ins that actually focus
10:23
on progress on those KPIs. Are we
10:26
on track? If the answer is yes,
10:28
You know you're in good shape. If
10:30
the answer is no, you might have
10:33
to jump back in that business and
10:35
really help them. Look for bottlenecks. What
10:37
roadblocks need attention? And then always end
10:39
with the action plan. What are next
10:42
steps? You'll want to find out your
10:44
meeting cadence. Now, if we're
10:46
talking specifically about how to run a
10:48
multi -million dollar business in just 30
10:50
minutes a week, let me break down
10:52
what that would actually look like. Weekly
10:54
10 minute department check -ins. Slack, email,
10:57
quick call. monthly 30
10:59
minute leadership report review,
11:02
and quarterly 60 minute deep dive into
11:04
company strategy. For my business specifically, I've
11:06
been out of the day to day
11:08
for 12 years. We have a full
11:10
leadership team in place. So
11:12
me personally, what I do is every other
11:14
Tuesday, I've got about a
11:16
one hour time slot marked on my calendar.
11:19
Now, I travel quite a bit. So
11:21
if I am out of town for
11:24
one of those two meetings, we do
11:26
not make up that meeting. So in
11:28
some months, I'm only working on that
11:30
business one hour a month, total 15
11:32
minutes a week, basically, right? And
11:35
at the most it's about two hours
11:37
per month. But again, I've been out
11:39
of the day -to -day operations for
11:41
over 12 years. There are leaders in
11:44
place. In fact, my general manager really
11:46
behaves as the CEO of that company.
11:48
And I am more like an investor
11:50
of that company. And I consult them
11:52
just because it's still my business. And
11:54
I want to make sure when I
11:56
look at those KPIs, I am not
11:59
getting surprised where all of a sudden
12:01
the business has been doing this and
12:03
I didn't know. So I'm still involved
12:05
to make sure that we are seeing
12:07
this. A couple of pro tips. Use
12:09
a standard update form like what are
12:12
your wins? What are your challenges? What
12:14
are next steps? The ultimate goal is
12:16
high visibility, low involvement.
12:19
And this systems allows you to actually
12:21
see the problems before they become emergencies.
12:24
So ensure your business is scaling
12:26
in the right direction and keep
12:28
your team accountable without getting dragged
12:30
in to the day to day
12:32
operations. You might attempt to start
12:34
backing away and you may realize
12:37
your business is as well -oiled
12:39
as you think. So don't back
12:41
out too quickly. Make sure you've
12:43
got a well -oiled system before
12:45
you ever consider leaving. By focusing
12:48
on these three main pillars, mastering
12:50
before you diversify, letting others shine,
12:53
and using data -driven decision -making,
12:55
you can confidently run multiple million
12:57
-dollar -plus businesses in just 30
12:59
minutes per week. And if you
13:02
want our help while oiling your
13:04
business, you can book a free
13:06
60 -minute strike. Call at bookwoocall
13:08
.com.
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