I read a great blog the other day from a guy that is an App Game “guru”. He’s a young entrepreneur who has become very successful and has figured out how to make a great living doing what he loves and having others do what he hates. I am re-posting part of his blog. His name is Trey Smith. He lives in La Jolla, CA and I have been following his stuff for awhile. Tonilee and I have also seen him speak in person. He’s a cool, laid back “dude” but makes some great points in his blog. I hope you enjoy it! Don’t forget me to join me on Saturday, February 23rd for my next seminar. I will be showing you HOW to do these things he is talking about. Check it out HERE.
Here is Trey’s blog post:
“ONLY DO WHAT YOU LOVE. SCREW EVERYTHING ELSE.
Now, this is a hard one to grasp. At first it seems IMPOSSIBLE, and honestly, it would have been impossible 10 years ago. If not impossible it would have been extremely expensive, but thanks to our good friends Odesk, Elance, Guru and Freelancer, it’s now super cheap to UNLOAD weight from your shoulders.
Here’s the thing that’s kinda crazy. Most likely what you hate doing does NOT make you money.
For example, here are things I can’t stand doing in order:
- Paying bills
- Answering emails
- Handling finances and taxes
- Putting things in my iphone calendar (ashamed to admit this one)
- Phone appointments
Here’s what I now do instead:
- Paying bills (Have a PO box setup and also a voice mailbox. My assistant handles it all, no bills come to me and they call her when have an issue.)
- Answering emails (Killed my email as you can see here. Best decision ever.)
- Handling finances and taxes (Have a bookkeeper now, you can hire someone on odesk for SUPER CHEAP and give them limited access to bank account to start doing quickbooks. Secure and simple.)
- Putting things in my iphone calendar (I know, this is crazy, but I email any appointments I have to my assistant, Natalie, who then logs into icloud and puts it on my phone with a 15 minute and 1 hour reminder. I send one email and it just happens, amazing!)
- Phone appointments (I thought this would be a hard one to get out of, but I figured out a super easy way to handle it. Now Natalie also does all my phone appointments for me. If there is something she can’t answer, then she gets all the info and gets with me to learn that part of the business. Now she rarely has to ask me anything.)
If you hate making websites, then you will never build a good website business if that is your job. If you hate programming, then you’ll never build a successful game when your job is being the coder. My job is now to come up with ideas and think about where to grow the business. Both of those things happen to dramatically add to the bottom line and you’ll find typically the stuff you WANT to do will make you the most money.
YOUR COMPETITIVE ADVANTAGE
Think about this… What if instead of thinking about how to grow my businesses every day I was paying bills, entering finances into quickbooks, doing phone calls, answering emails and answering emails. Would my business grow effectively? Would I make as more or less money? Definitely less. Absolutely no question.
Not only would it eat up my time, it would eat up my SOUL too. Here’s what I mean. To make a business successful, you have to do something different than the competition. You must have a competitive advantage. If you do exactly what everyone else is doing then your business will be average. Your average business will have average results. This might be good enough for some, but if you want an above average business with above average income, you have to start thinking and building your company in above average ways.
Typically this means you are willing to either out work or out think the competition. The only way this can happen is if you are truly addicted to your business and free to think. If you are counting the hours until you can leave your business, then you are a slave to it and it is eating your soul. To reverse said soul eating process you don’t need to read some black magic spells from a book, you just need quit doing things that suck. If you’ve successfully outsourced everything that you hate, then your job is not a job anymore, now it’s a pleasurable experience 24 hours a day that you can focus on building and making more money with.
HOW IT CAN RUIN YOU
Let’s take it up a notch… if you DON’T outsource the things you can’t stand, it can ruin your business.
Case in point:
I always had a good credit score, but hated paying bills. When I made the move from Georgia to California I really screwed up big time. Not because of money issues, but because of slackness issues. I forgot to pay a few things and my 750 beacon shot down to 580. Bad timing as I was investing in a new startup and was supposed to secure the American Express card we would use and got turned down. You can imagine how that looked! After paying a ton of money to get my credit fixed and outsourcing bill paying, I was back on track in 8 months, but it was a VERY close call and an embarrassment for me in the start-up.
If you force yourself to do things you don’t like, you will not only stunt the growth of your business, you will slowly kill it. To build something amazing, you have to have undying passion and love for what you are doing.
First off remember, you are outsourcing what holds you back in your life, NOT just what you don’t like about work. For example, me outsourcing bills was not just work related.
With any task you think about outsourcing there are two parts. Level of dislike and time it takes. You might have something that is a 5/10 on the dislike scale but it takes 20 hours a week. This would be something that is definitely worth outsourcing if possible, because it takes up such a vast amount of time. If something is a 10/10 on the dislike scale then it needs to be outsourced immediately as these are the “business killers”.
Here’s a quick exercise to help you decide which items to outsource first:
Make a list of the top 5 things you can’t stand doing in your business.
Rate them on a scale of 1-10 on how much you can’t stand it. 10 being the highest.
If any are a “10″, then figure out how to outsource those immediately. They are business killers (like bills with me!)
Next to the rating, write down how many hours per week you spend on this task.
Now add up the ratings and the hours for each task.
Focus on figuring out the biggest numbers first.
If you find yourself getting overwelmed or stressed out, then typically it’s because you are wearing too many hats. You’re doing too much and not focusing on the things that REALLY matter.
Remember, the most important thing in any business is traffic and conversions. That is what makes the most money regardless if you own a hardware store or an app company. Focus on your marketing and build out a plan that will help you grow over the next two years and think about how to hire people (on a budget) to help you do remedial tasks that drive you nuts!”
There is one thing I have learned in being an entrepreneur…DO NOT QUIT…KEEP GOING! Can I help? Email me for a Free Consultation.
Bobbye Brooks email@example.com