August 15, 2024 • 12 mins
Discover the unconventional wisdom that led me from the realm of low six-figures to the heights of seven-figures and beyond. In this episode of Brightside Business, you'll learn why delegation is not just a luxury but a necessity for scaling your enterprise. We dissect the importance of methodical leadership over flashy personas, drawing powerful insights from the "Good to Great" study by Jim Collins. Plus, we uncover the pitfalls of relying solely on intuition, and why a data-driven approach is crucial for sustainable growth.
Ready to supercharge your business? Tune in for actionable advice and a free resource designed to accelerate your journey. I'm offering a 20-minute consultation to help you tackle your current challenges and set your business on a growth trajectory—all available through the link in the shownotes.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Joey Young (00:00):
Welcome to Breadside Business, where I talk to
online entrepreneurs likeyourself about how to grow your
business to seven figures andbeyond.
My name's Joey Young.
I grew my family's professionalservices business to $100,000 a
month in two years and Ilearned a lot along the way.
One of them is the differencebetween how a five-figure
solopreneur approaches theirbusiness versus a seven-figure
(00:21):
business owner, and that's whatI want to unpack today.
Same 24 hours.
What's the difference?
Because the results aredifferent, huge, hugely
different between those twotypes of business owners and
specifically I boiled it down tofour lessons that I had to
unlearn to be able to grow tothese $100,000 months, and
(00:42):
hopefully this will be helpfulfor you.
The first thing I had to unlearnas I scaled is that I can do
blank better than anyone else.
Insert business task,responsibility, role of the
business.
This was a huge limiting belieffor me.
I thought that I could doeverything in the business
better than anyone and the ideaI mean.
(01:04):
The thing is sure, if you're atiny business and just three
people and you're just trying toget things done and scrap and
scrape and make things happen,you're wearing a lot of hats, so
you're not really focused onexpertise.
But once you get to the levelwhere you're making some money
but you want to scale higher,you have to start loving and
(01:24):
celebrating delegation, notdespising it.
And a lot of people strugglewith this because they're like
well, how do I maintain qualityand how do I make sure that you
know, how do I let go of thingsand make sure that they're doing
really well, even when I'm notoverseeing them?
Well, it all comes down to yourweekly one-to-ones.
If you delegate something tosomeone, make sure you're
meeting with them weekly.
It doesn't have to be long andyou're going to talk about two
(01:46):
things.
You're going to talk about yourmetrics and you're going to
look at their affect during thatmeeting and you're going to ask
them about their situation andhow things are going.
Metrics are important becauseobviously those are cut and dry
numbers.
Those are their KPIs how istheir area of the business going
?
And number two, their affect.
You're going to ask them howthey're doing, how their team is
(02:07):
doing, how they feel this timeof year is versus this time of
year last year, and you're goingto watch and you're going to
meet with them week by week andlook at how they answer that
question differently.
And you can tell a lot by thetone and reading in between the
lines and the interpersonal sideof how your team leader or some
person in your business whoreports to you how they talk
(02:29):
about their area of theirbusiness, in combination with
the metrics, to know how they'redoing and that's how you just
completely let an area of thebusiness be controlled by
someone else is by doing thosetwo things during weekly
meetings, and you know this alsois important to think about the
idea that you can identify andplace people in specific roles.
(02:50):
So one thing that you don't needwhen you're a solopreneur is
the ability to understand and tomove people into certain roles
that will help them flourish.
But as you scale, you will needthe skill of learning what
people are good at and thenhelping them to leverage that
strength inside your business.
For example, let's say you gotJim over here and Jim is causing
(03:14):
half of the issues on youradmin team and he's stressing
everyone out.
But Jim is super friendly andhe's a big team player and he's
trying really, really hard.
He's not lazy, he's notslacking.
So you're like what do we do?
Well, how about we try movingJim to the customer support team
?
Jim spends half his dayworrying what other people think
about him and supporting histeammates that he doesn't get
(03:36):
his own work done and he makesmistakes.
So that's an example ofidentifying someone who has a
skill set and putting them onthe right seat on the bus.
And, wouldn't you know it, jimwill probably flourish in that
new role.
So that's the first lesson I hadto unlearn.
The second one is I thought bigpersonalities led big
(03:57):
businesses and this is just nottrue.
I got to tell you fromintrovert to introvert if you're
an introvert watching thisthere is a disproportionate
amount of bravado we see onsocial media these days from
CEOs, because those are theclips and the personalities that
rise to the top.
But the reality is, if you lookat the good to great study,
(04:18):
which ultimately led to the bookGood to Great by Jim Collins,
he talks about level fiveleaders in that book that
completely turned theircompanies around and led to
sustained like 10 plus year,year over year growth beating
the S&P 500.
And these level five leaderswere not bombastic, they were
not huge personalities.
(04:39):
They usually were quiet,methodical, thoughtful people
and they went on to grow some ofthe hugest businesses you've
ever.
You know, you've heard ofthey're family names.
And the reality is, when thesmoke clears after a hurricane,
it's the trees with the deepestroots that are standing, no
matter how tall they are.
So that's why it's important tothink about, you know, getting a
(05:02):
little bit more girth and alittle bit more depth to your
leadership and not worryingabout the outside.
I used to.
You know I read the book a longtime ago.
This is such a waste of time.
It was called the charisma myth.
I don't know why I read it.
No one cares.
You know your team.
They don't care if you're funnyin meetings.
They want to be respected andthey want to be part of a team
that works on making a dent inthe universe, making and doing
(05:25):
something meaningful with theirday.
They don't care if you're wittyor not.
You know.
Number three follow your gut.
This was a huge lesson I had tounlearn when I started my
business journey because,honestly, there was no worse
question you could have askedJoey at the beginning of my
business scaling journey thanwhat does your intuition tell
(05:46):
you, joey?
What does your gut tell you weneed to do in this situation?
That would have been horrible,and it's because I wasn't an
expert.
Yet Psychologists say expertsare people who have spent enough
time with a certain subject,with a certain discipline, to
build a mental model so theyhave a response or a toolkit to
(06:07):
certain problems or certainopportunities.
So, like a scientist would havea mental model of how the atom
works or how it forms, a soccercoach would have a mental model
for how to position theirplayers to win the World Cup.
You know, maybe a businessperson might have a mental model
for successfully launching,position their players to win
the World Cup.
Maybe a business person mighthave a mental model for
successfully launching a newproduct.
These are what experts are.
(06:28):
Novices are not experts, and Ispent a lot of time in the
beginning thinking I was anexpert and I wish I didn't spend
so much time thinking aboutshould I follow my gut on this,
my intuition, because honestly,I had no idea what I was doing.
Instead, I wish I had builtmore confidence through my
scaling journey in my ability tolearn, because what I realized
(06:52):
is the faster I move from astate of helplessness and just
trying to grasp it, feelingright in a situation, to a state
of curiosity and learning, thefaster I moved, the faster I
dealt with real problems and mybusiness grew, and so the same
can be for you.
If you're feeling like you haveto know the answer to questions
(07:13):
, have to be the smartest personin the room.
You've got to follow yourintuition on things.
That is blocking your abilityto learn quickly and you might
actually, by trying to stayconfident, be actually putting
yourself in a state of morehelplessness because you're
closing yourself off to learningand therefore creative problem
solving and therefore growingand scaling your business.
(07:37):
Number four, lesson final one Ithought scaling required that I
take my business personally.
I saw people who would getsuper pissed about the small
things.
I read about Steve Jobs and howpersonally he would take the
computers that he built and howhe just focused on the minute
(07:57):
details and I thought that wasthe only way to build a business
.
But what I realized is thatit's, in reality, small minds
are the ones that take every winand every loss in their
business.
Personally, when I was early inmy sales journey, every no was
a personal attack on me from aclient, a potential client.
(08:19):
Every yes was a huge victoryand meant I was a paragon of
sales.
I thought it was awesome and Iwas over the moon, and my
emotions would rise and fall alot on my sales, conversion
ability and the performance ofthe business.
But what I understand now isthat the really successful
(08:40):
business owners do not taketheir business personally.
They look at their business asa machine to be tweaked and to
improved.
They look at it more like ascience fair project than an
extension of their identity.
You know, it's a fun problemsolving game right, and a couple
of skills that they develop tonot take their business so
(09:01):
personally are analyzing andprioritizing problems and
opportunities in an objectiveway.
This it seems kind of simple,but the ability to analyze and
to prioritize problems andopportunities.
For example, if there's a,there's a problem in your
business and you're like superpissed about it maybe it's an IT
thing and you know you go offfor half a day trying to fix
(09:23):
this thing.
That just is pissing you offand you're like we're not a
business that has this type ofissues.
And then you spend, you know,so much time fixing it and you
realize it really all came backdown to the fact that you
brought a stupid printer brandor something like that and you
just wasted all that time onsomething that someone else
could have fixed.
And that's when you obsess overthe wrong problems and you
(09:44):
don't analyze them and you don'tprioritize them.
Conversely, an opportunity.
There's very similar amounts oftime spent building a
five-figure versus a six-figuremarketing campaign.
You just got to know which oneto spend your energy and your
time on.
Are you building a five-figuresolopreneur business or are you
building a seven-figure businessthat's going to scale?
(10:05):
Where are you going to spendyour time leveraging your energy
and your intellect on?
So, between those two things,right, are you going to
prioritize the biggeropportunity or going to
prioritize the smaller ones?
The other strategy and skillthat people have to develop to
distance themselves from theirbusiness is breaking things that
aren't broken.
(10:26):
You know they talk about thisidea of an old couch in a
business where it's this old,dirty, like threadbare couch
sitting in the proverbial lobbyof your business and everyone
else from the outside sees it,and even the team sees it, but
the business owner.
It's a huge blind spot.
But that's an old couch thatthey love and so they have to
keep it around and it's sopersonal no one can touch that
(10:49):
couch.
It's like, no, that's got to bewhere it's got to be.
But to grow and to scale, youneed to break things that aren't
broken.
You need to grab your couch andfling it out the window,
because it's the thing that'sholding your business back, like
a doctor who has to re-break abone that's not growing and
healing properly.
You need to break things thataren't broken in your business
(11:10):
so you can build them backbetter.
If this stuff is helping you, ifthese lessons that I had to
unlearn are helping you tounlearn some stuff, I would love
to hear your feedback.
Shoot me an email, joey atjoeyhyoungcom, or shoot me a DM
on Instagram.
Joeyhyoung is my handle at joeyYoung and Instagram.
I'd love to hear your thoughtsor hear your questions so I can
(11:31):
maybe talk about some upcoming.
You know, in some upcomingepisodes I can talk about your
questions or your thoughts hereon the show.
And hey, if you want a free 20minute consultation on your
business to help you breakthrough the next barrier between
you and scaling, go to the linkin my bio on Instagram.
It'll help you to click thatlink and find a time to meet and
(11:53):
we can just talk about yourbusiness and hopefully break
through the barrier that you'refacing right now.
That's totally free and don'tforget to like and subscribe to
this video, leave a five starreview.
Follow the show.
Wherever you're listening to it, you're watching it.
If you're this far in, it musthave helped you.
So the way you say thanks iswith a good review, a thumbs up.
Really appreciate it.
And hey, until next time, myfriend, get out there, scale
(12:16):
your business, have a lot of fun.
I'll see you in the nextepisode.
Welcome to Breadside Business, where I talk to
online entrepreneurs likeyourself about how to grow your
business to seven figures andbeyond.
My name's Joey Young.
I grew my family's professionalservices business to $100,000 a
month in two years and Ilearned a lot along the way.
One of them is the differencebetween how a five-figure
solopreneur approaches theirbusiness versus a seven-figure
(00:21):
business owner, and that's whatI want to unpack today.
Same 24 hours.
What's the difference?
Because the results aredifferent, huge, hugely
different between those twotypes of business owners and
specifically I boiled it down tofour lessons that I had to
unlearn to be able to grow tothese $100,000 months, and
(00:42):
hopefully this will be helpfulfor you.
The first thing I had to unlearnas I scaled is that I can do
blank better than anyone else.
Insert business task,responsibility, role of the
business.
This was a huge limiting belieffor me.
I thought that I could doeverything in the business
better than anyone and the ideaI mean.
(01:04):
The thing is sure, if you're atiny business and just three
people and you're just trying toget things done and scrap and
scrape and make things happen,you're wearing a lot of hats, so
you're not really focused onexpertise.
But once you get to the levelwhere you're making some money
but you want to scale higher,you have to start loving and
(01:24):
celebrating delegation, notdespising it.
And a lot of people strugglewith this because they're like
well, how do I maintain qualityand how do I make sure that you
know, how do I let go of thingsand make sure that they're doing
really well, even when I'm notoverseeing them?
Well, it all comes down to yourweekly one-to-ones.
If you delegate something tosomeone, make sure you're
meeting with them weekly.
It doesn't have to be long andyou're going to talk about two
(01:46):
things.
You're going to talk about yourmetrics and you're going to
look at their affect during thatmeeting and you're going to ask
them about their situation andhow things are going.
Metrics are important becauseobviously those are cut and dry
numbers.
Those are their KPIs how istheir area of the business going
?
And number two, their affect.
You're going to ask them howthey're doing, how their team is
(02:07):
doing, how they feel this timeof year is versus this time of
year last year, and you're goingto watch and you're going to
meet with them week by week andlook at how they answer that
question differently.
And you can tell a lot by thetone and reading in between the
lines and the interpersonal sideof how your team leader or some
person in your business whoreports to you how they talk
(02:29):
about their area of theirbusiness, in combination with
the metrics, to know how they'redoing and that's how you just
completely let an area of thebusiness be controlled by
someone else is by doing thosetwo things during weekly
meetings, and you know this alsois important to think about the
idea that you can identify andplace people in specific roles.
(02:50):
So one thing that you don't needwhen you're a solopreneur is
the ability to understand and tomove people into certain roles
that will help them flourish.
But as you scale, you will needthe skill of learning what
people are good at and thenhelping them to leverage that
strength inside your business.
For example, let's say you gotJim over here and Jim is causing
(03:14):
half of the issues on youradmin team and he's stressing
everyone out.
But Jim is super friendly andhe's a big team player and he's
trying really, really hard.
He's not lazy, he's notslacking.
So you're like what do we do?
Well, how about we try movingJim to the customer support team
?
Jim spends half his dayworrying what other people think
about him and supporting histeammates that he doesn't get
(03:36):
his own work done and he makesmistakes.
So that's an example ofidentifying someone who has a
skill set and putting them onthe right seat on the bus.
And, wouldn't you know it, jimwill probably flourish in that
new role.
So that's the first lesson I hadto unlearn.
The second one is I thought bigpersonalities led big
(03:57):
businesses and this is just nottrue.
I got to tell you fromintrovert to introvert if you're
an introvert watching thisthere is a disproportionate
amount of bravado we see onsocial media these days from
CEOs, because those are theclips and the personalities that
rise to the top.
But the reality is, if you lookat the good to great study,
(04:18):
which ultimately led to the bookGood to Great by Jim Collins,
he talks about level fiveleaders in that book that
completely turned theircompanies around and led to
sustained like 10 plus year,year over year growth beating
the S&P 500.
And these level five leaderswere not bombastic, they were
not huge personalities.
(04:39):
They usually were quiet,methodical, thoughtful people
and they went on to grow some ofthe hugest businesses you've
ever.
You know, you've heard ofthey're family names.
And the reality is, when thesmoke clears after a hurricane,
it's the trees with the deepestroots that are standing, no
matter how tall they are.
So that's why it's important tothink about, you know, getting a
(05:02):
little bit more girth and alittle bit more depth to your
leadership and not worryingabout the outside.
I used to.
You know I read the book a longtime ago.
This is such a waste of time.
It was called the charisma myth.
I don't know why I read it.
No one cares.
You know your team.
They don't care if you're funnyin meetings.
They want to be respected andthey want to be part of a team
that works on making a dent inthe universe, making and doing
(05:25):
something meaningful with theirday.
They don't care if you're wittyor not.
You know.
Number three follow your gut.
This was a huge lesson I had tounlearn when I started my
business journey because,honestly, there was no worse
question you could have askedJoey at the beginning of my
business scaling journey thanwhat does your intuition tell
(05:46):
you, joey?
What does your gut tell you weneed to do in this situation?
That would have been horrible,and it's because I wasn't an
expert.
Yet Psychologists say expertsare people who have spent enough
time with a certain subject,with a certain discipline, to
build a mental model so theyhave a response or a toolkit to
(06:07):
certain problems or certainopportunities.
So, like a scientist would havea mental model of how the atom
works or how it forms, a soccercoach would have a mental model
for how to position theirplayers to win the World Cup.
You know, maybe a businessperson might have a mental model
for successfully launching,position their players to win
the World Cup.
Maybe a business person mighthave a mental model for
successfully launching a newproduct.
These are what experts are.
(06:28):
Novices are not experts, and Ispent a lot of time in the
beginning thinking I was anexpert and I wish I didn't spend
so much time thinking aboutshould I follow my gut on this,
my intuition, because honestly,I had no idea what I was doing.
Instead, I wish I had builtmore confidence through my
scaling journey in my ability tolearn, because what I realized
(06:52):
is the faster I move from astate of helplessness and just
trying to grasp it, feelingright in a situation, to a state
of curiosity and learning, thefaster I moved, the faster I
dealt with real problems and mybusiness grew, and so the same
can be for you.
If you're feeling like you haveto know the answer to questions
(07:13):
, have to be the smartest personin the room.
You've got to follow yourintuition on things.
That is blocking your abilityto learn quickly and you might
actually, by trying to stayconfident, be actually putting
yourself in a state of morehelplessness because you're
closing yourself off to learningand therefore creative problem
solving and therefore growingand scaling your business.
(07:37):
Number four, lesson final one Ithought scaling required that I
take my business personally.
I saw people who would getsuper pissed about the small
things.
I read about Steve Jobs and howpersonally he would take the
computers that he built and howhe just focused on the minute
(07:57):
details and I thought that wasthe only way to build a business
.
But what I realized is thatit's, in reality, small minds
are the ones that take every winand every loss in their
business.
Personally, when I was early inmy sales journey, every no was
a personal attack on me from aclient, a potential client.
(08:19):
Every yes was a huge victoryand meant I was a paragon of
sales.
I thought it was awesome and Iwas over the moon, and my
emotions would rise and fall alot on my sales, conversion
ability and the performance ofthe business.
But what I understand now isthat the really successful
(08:40):
business owners do not taketheir business personally.
They look at their business asa machine to be tweaked and to
improved.
They look at it more like ascience fair project than an
extension of their identity.
You know, it's a fun problemsolving game right, and a couple
of skills that they develop tonot take their business so
(09:01):
personally are analyzing andprioritizing problems and
opportunities in an objectiveway.
This it seems kind of simple,but the ability to analyze and
to prioritize problems andopportunities.
For example, if there's a,there's a problem in your
business and you're like superpissed about it maybe it's an IT
thing and you know you go offfor half a day trying to fix
(09:23):
this thing.
That just is pissing you offand you're like we're not a
business that has this type ofissues.
And then you spend, you know,so much time fixing it and you
realize it really all came backdown to the fact that you
brought a stupid printer brandor something like that and you
just wasted all that time onsomething that someone else
could have fixed.
And that's when you obsess overthe wrong problems and you
(09:44):
don't analyze them and you don'tprioritize them.
Conversely, an opportunity.
There's very similar amounts oftime spent building a
five-figure versus a six-figuremarketing campaign.
You just got to know which oneto spend your energy and your
time on.
Are you building a five-figuresolopreneur business or are you
building a seven-figure businessthat's going to scale?
(10:05):
Where are you going to spendyour time leveraging your energy
and your intellect on?
So, between those two things,right, are you going to
prioritize the biggeropportunity or going to
prioritize the smaller ones?
The other strategy and skillthat people have to develop to
distance themselves from theirbusiness is breaking things that
aren't broken.
(10:26):
You know they talk about thisidea of an old couch in a
business where it's this old,dirty, like threadbare couch
sitting in the proverbial lobbyof your business and everyone
else from the outside sees it,and even the team sees it, but
the business owner.
It's a huge blind spot.
But that's an old couch thatthey love and so they have to
keep it around and it's sopersonal no one can touch that
(10:49):
couch.
It's like, no, that's got to bewhere it's got to be.
But to grow and to scale, youneed to break things that aren't
broken.
You need to grab your couch andfling it out the window,
because it's the thing that'sholding your business back, like
a doctor who has to re-break abone that's not growing and
healing properly.
You need to break things thataren't broken in your business
(11:10):
so you can build them backbetter.
If this stuff is helping you, ifthese lessons that I had to
unlearn are helping you tounlearn some stuff, I would love
to hear your feedback.
Shoot me an email, joey atjoeyhyoungcom, or shoot me a DM
on Instagram.
Joeyhyoung is my handle at joeyYoung and Instagram.
I'd love to hear your thoughtsor hear your questions so I can
(11:31):
maybe talk about some upcoming.
You know, in some upcomingepisodes I can talk about your
questions or your thoughts hereon the show.
And hey, if you want a free 20minute consultation on your
business to help you breakthrough the next barrier between
you and scaling, go to the linkin my bio on Instagram.
It'll help you to click thatlink and find a time to meet and
(11:53):
we can just talk about yourbusiness and hopefully break
through the barrier that you'refacing right now.
That's totally free and don'tforget to like and subscribe to
this video, leave a five starreview.
Follow the show.
Wherever you're listening to it, you're watching it.
If you're this far in, it musthave helped you.
So the way you say thanks iswith a good review, a thumbs up.
Really appreciate it.
And hey, until next time, myfriend, get out there, scale
(12:16):
your business, have a lot of fun.
I'll see you in the nextepisode.
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