When you are a one person company you are kind of use to doing everything yourself. You wouldn’t have gotten to where you are at unless you could wear many hats. When you are first starting out this is fine but once you start to experience success this can be a downfall because you waste your time doing remedial task.
For example, I’m quite capable of running my own server and hosting WordPress, yet spending my time being a system admin does not help my business. If your business is making money and the cost of you using a service is less than what your time is worth than hire it out.
Another less obvious example is house work. I calculated how much time I spend doing things like cleaning bathrooms, kitchens etc… This valuable time adds up. Why not hire it out and use that extra time to spend with your family or work on your business.
You cannot and should not do everything yourself or you’ll quickly get overwhelmed. I’m still learning to let go of some task and hire it out but there’s a part of me that want to just do it myself. It’s the perfectionist in me I guess. I know though that ultimately to continue to grow I need to start delegating and learn to let go or else I’ll always be a one person company.
What are some things you do to save time and become more efficient?
2013 was an incredibly busy and awesome year in my personal and professional life. I accomplished most of what I set out to do this year but I have a few goals that will carry over.
We sold our house in April and lived in my father-in-laws river house for 8 month while my family and I searched for a new house. Did I mention I had no internet for 8 months. I used my cell connection the entire time to run my business. To say that was challenging is an understatement. We finally found a house in late September, remodeled it in late October and November and moved in December. We got settled in just in time for Christmas. The whole process of moving was extremely time consuming and really dominated most of my time and thoughts in 2013. I ‘m super glad to finally be settled and don’t plan to move again for a long time!
Other notable moments include: My daughter turned 3 and is really becoming quite the princess 🙂 We made 2 trips to Disney World this summer. My wife and I celebrated our 5th wedding anniversary. Overall we have been extremely fortunate in 2013 and I am so grateful for that.
One of my goals for 2013 was to quite my day job. While my business has enough income to do this I needed to have my day job to get a loan and make the process of buying a house go smoothly. So I worked a day job and on my business at night this year. For 2014 I do plan to accomplish this goal once I get my reserves built back up.
I 2x my business, SeedProd, income from 5 figures in 2012 to 6 figures in 2013. I attended Pressnomics in Arizona. And I started the planning of a WordCamp in Charleston for 2014. I didn’t get to grow my business as much as I’d like in 2013 since I was working a day job and moving but I have some high expectation for myself in 2014.
Goals for 2014
I really want to focus on my business this year and quit my day job.
In no particular order here are my goals:
- Blog more – I’ve signed up for Chris Brogan’s Blogging Masters Class and hope to learn to write better. It will boost my credibility and have SEO benefits.
- Launch SellWP.com – This is a platform for selling WordPress products that I originally built for myself. I rebuilt over the last year so other could use it.
- Market more and hire a VA and eventually a developer for SeedProd. – I want to start delegating out more of the day-to-day task of the business so I can focus on growing it.
- Take the Google Analytics University class. – A key part of growing your business is to be able to measure what you do and make decisions based on that info.
- Release 2 more major plugins and try a plugin that uses the add-on revenue model.
- Release smaller plugins that generate at least $3000 per month in rev with little to no support.
- Over I’d like to generate an average of $1000 dollars a day in revenue.
- On a personal note I need to become healthier. I need to eat better and exercise more, just like everyone else right 🙂 I plan to start slow by just taking a walk every night with the family to build the habit. The goal is at least 30 minutes per day.
- Finally quit the day job. I have a few things left to pay off and settle up on but I plan to quit my day job by September if every thing goes as planned.
- Start a podcast to discuss bootstrapping a business and help other do the same.
So that’s it! 2013 in a nutshell and my goals for 2014.
Here’s to an awesome New Year and I hope this is the best for you so far as well!
There are lots of way to get inspired but I found myself always going back and watching this video when I need a little kick in the ass. This is an awesome talk from David Heinemeier Hansson, creator of the Ruby on Rails framework and Partner at 37Signals that gives insight into creating a profitable startup company.