Businesses in the $1M–$10M revenue range (or with more than 100k subscribers) are in the messy middle between founder-centric and systems-centric, but the founder’s reaching the end of their ability to drive the car like Fred Flintstone (it moves only when their feet are peddling). If you’re there, you know what I’m talking about.
Let’s be honest: while there are some fantastic aspects about being at this stage, there are some parts that suck, but most folks don’t understand what it’s like.
It sucks to wake up every morning knowing you’ll be fighting the same fires but not knowing how to solve them once and for all or hire and train someone else to be able to do that. It also sucks to have a business that lots of folks are admiring and talking about, but you know you’re trapped in the business and have to go through what feels like superhuman efforts just to unplug from it.
Being an entrepreneur is much like any other career. At first, you work for your business. In the middle, you and your business are working together. In the end, your business is working for you. So many founders oscillate between the first and second stages because they can’t ratchet the gains that they make after pushing through a launch or big push. Just about the time they recover from the push, they’ve got to do it again … and again … and again …
So many entrepreneurs fear they’ll never make it. Once you get into this range, you’re scared you’ll lose it all or commit to projects that’ll suck up years of effort and revenue that won’t pan out when you could’ve done more strategically sound projects that’d really push the needle towards your vision and goals.
Another thing about being at this stage is that there’s a tendency for founders to be stuck in accidental manager mode, but most founders didn’t start a business to be a manager, it’s not at all what they want to be doing, and, frankly, they’re not that good at it. But it’s also hard to figure out how to hire and train a manager when you’re not good at it and don’t really know how and where a manager fits into your business because everything is so tied to you.
If this is resonating with you and you’d like to see how I can help you solve these challenges, let’s have a no-cost, no-obligations discovery session to see how we might be a fit. You may not quite feel comfortable with calling yourself an executive, but you’re facing executive challenges more so than purely entrepreneurial challenges. Let’s call a spade a spade and start digging to uncover your path forward.
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