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July 11, 2024 18 mins

Ready to conquer the hurdles that come after hitting the six-figure mark in your business?

Celebrating the $100K milestone is a significant achievement and deserves recognition. However, it’s also the beginning of a new phase with its own set of challenges.

Today we're going to explore three essential strategies you need to maintain balance and control while scaling your business, starting with smart financial management. This episode is packed with practical tips and insights to ensure your continued success beyond the $100,000 milestone.

2:29  - The mistake many entrepreneurs make

5:50  - How my back office assessment can help in this part of the process

7:00  - What it takes to stabilize your business

11:49 - A free resource to help you assess your back office

14:25 - How The MY-T Society Membership can help you

15:57 - What to do if you don't know where to start

References Mentioned In This Episode:

Episode 117 - How to Calm the Chaos In Your Back Office with Jodi Silverman

Episode 126 - How to Provide the Best Customer Experience Inside and Outside of Your Small Business

Episode 138 - Mastering the Art of Delegation: Overcoming Disorganization and Reclaiming Control of Your Back Office

Grab the Free Biz Ops Checklist


Let me know your thoughts! Click here to send me a text.

Leave a Rating and Review: https://ratethispodcast.com/mindyourtime

Resources Mentioned In This Episode:

Check Out The MY-T Society Membership

Listen to My Free Audio Masterclass

Schedule a 20 Minute Chat with Me

Let’s connect online:

Follow Me On Instagram: @the_shannonbaker







Mark as Played
Transcript

Episode Transcript

Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Have you ever wondered what really happens
after you hit six figures inyour business?
It's a benchmark everyonedreams about, whether you want
to admit it or not.
But there's something crucialthat rarely gets discussed.
That's what happens after youhit your first $100,000 in
revenue.
The truth is, reaching thismilestone brings a new set of

(00:23):
challenges and harsh realitiesthat no one talks about.
So I've decided it's time tochange that.
We need to break through thefalse picture of perfect success
that people share on socialmedia and get real about
stabilizing your business.
So today we're going to take ahard look at your processes in
your systems.

(00:44):
That's the good, the bad andthe downright ugly.
So if you're ready to challengethe status quo with me and
transform your business forsustainable growth, then this
episode is for you.
Welcome to the Mind your Timepodcast.
I'm Shannon Baker, your coffeeloving host and business
strategist.
Each week, I will sharepractical insights and bold

(01:07):
strategies for six-figureentrepreneurs looking to clean
up their back office and createstreamlined systems.
The weekly episodes will helpyou take control of your time,
scale your business and createsuccess on your own terms.
So grab your cup of coffee oryour favorite beverage and let's
dive into today's topic.
So grab your cup of coffee oryour favorite beverage and let's

(01:28):
dive into today's topic.
So first of all, let me start bysaying congratulations to you.
If you've actually hit that$100,000 milestone at least once
in your entrepreneurial journey, it's a huge achievement and
it's a testament to your hardwork, your dedication and your
entrepreneurial spirit.
I know that when you first hitthat number, it was exciting.

(01:50):
You probably felt like you wereon top of the world, like all
those sleepless nights andhustle periods finally paid off.
But the truth is, while youride that feeling for a while,
reality sets back in and yourealize that hitting $100,000 is
just the beginning of anotherphase of your journey as a

(02:10):
business owner.
Now imagine what your businesscould look like if you could
keep that momentum going withoutstress and chaos.
What if you could scale evenfurther while maintaining a
sense of balance and control?
That's the transformation thatwe're going to be talking about

(02:30):
today and aiming for.
When you reach this milestone.
It's essential for you to takea moment to celebrate your
success number one, but it isequally important actually even
more important for you to take astep back and evaluate your
business systems.
Many entrepreneurs get so caughtup in the day-to-day operations

(02:53):
that they overlook the need tocreate streamlined systems to
support their growth.
Why does this happen?
Well, don't you want yourrevenue to continue to increase?
That's actually whatsustainable growth means, but
you can't achieve this withoutbusiness systems.
So it's time to look at what'sworking, what isn't working and

(03:17):
what's downright ugly in yourback office.
It's time to face the truth.
So I'm going to start by sharinga story, and I've shared this
on several episodes of thepodcast.
I'm going to tell you aboutJodi, a former client of mine
who runs a business called Momswho Dare.
Jodi was thrilled with hersuccess.
Her sales were impressive, butbehind the scenes, things were

(03:40):
falling apart and she wasoverwhelmed.
Inquiries from her membershipmembers were getting lost.
Her operational processes werea mess.
One of the biggest issues washer disorganized digital filing
system.
Jodi wasted countless hourssearching for documents, often
finding that she had multiplecopies of the same file.

(04:02):
This chaos was costing herprecious time and causing her
unnecessary stress.
So Jodi decided to invest in aback office assessment with me,
which is now an exclusive offerfor members of the Mighty
Society membership.
But after she booked thatassessment, we went over every

(04:24):
part of her current operationsand we pinpointed areas where
she was the bottleneck andidentified systems that needed
improvement or needed to becreated.
Now it wasn't easy for Jodi toface these challenges, but she
was determined to get things inorder because she really wanted
her business to continue to growreally wanted her business to

(04:47):
continue to grow.
So, after the assessment, jodihad a clear action plan that I
provided, of course.
She streamlined her operationswith me, improved her customer
management and implemented moreefficient processes.
The transformation wasincredible.
Not only was Jodi able tostabilize her business
operations, but this really puther in a position to grow

(05:09):
strategically and statistically.
This put her in a position tostabilize not only her business
operations, but it set her upfor continued sustainable growth
and success.
She went from feelingoverwhelmed and ready to give up

(05:31):
to being in control andexciting about what the future
held for her and her business.
Jodi's example, or her story, isa perfect example of why it is
so important for you to take aclose look at every part of your
back office to determine whereyou need to make improvements,
and the back office assessmentwill help you do just that.

(05:54):
It's like having a thoroughcheckup for your business
operations to pinpoint issuesand provide you with tailored
solutions that are unique foryou and your challenges.
But again, this back officeassessment is available
exclusively to members of theMighty Society membership.
When you join, not only do yougain access to this invaluable

(06:18):
service, but you get access to anumber of resources, including
roadmaps, templates, workflowsand bite-sized how-to videos
that are designed to help youDIY your back office systems
efficiently.
Not to mention, you have accessto my expertise in the support
of a community of like-mindedwomen.

(06:39):
So if you're ready to stabilizeyour business and ensure its
growth, consider joining theMighty Society.
It's an investment in yourbusiness that can unlock
efficiency, save you time andset your business on a course of
sustainable growth.
So go to theshannonbakercomforward slash membership to
check that out.

(07:00):
Now let's talk about what itactually takes to stabilize your
business.
Business stability means thatyou have reliable, streamlined
systems in place that keepthings organized, help you focus
on what's important, and theyenable efficient and smooth
business operations.

(07:21):
So here are three ways that youcan establish and enhance your
business's stability.
One you have to be smart withyour money.
This means you need to monitoryour expenses and conduct
regular audits to identifyinefficiencies and cut
unnecessary costs.
One effective way to achievethis is by conducting quarterly

(07:43):
audits or, at the very least,biannual reviews of your
operational systems,particularly what is in your
tech stack.
By streamlining your tools andeliminating duplicates or
triplicates or, you know,multiple copies of the same
thing, you can cut costs withoutsacrificing quality or
efficiency, and I understandthat conducting audits and

(08:06):
streamlining your systems can betime consuming, not to mention
challenging, especially whenyou're really focused on running
and growing your business.
That's exactly why I offerquarterly consulting services.
During these quarterly sessions, we look at your existing
processes, review your expenses,identify opportunities for cost
savings and, most importantly,we develop strategies to help

(08:30):
you streamline your operationseffectively.
With this service, you can gainpeace of mind, knowing that
your operations are optimizedfor efficiency and cost
effectiveness, which allow youto focus on what matters most,
and that's growing your business.
Now the second thing you need todo is make smart investments.
Make smart investments.

(08:51):
Investing in tools, technologyand people will provide
long-term benefits if you makethe right choices in investment,
but you have to have systems inplace before you start
investing in people, ie buildingyour dream team.
Outsourcing is a strategic movethat both you and your business

(09:12):
have to be prepared for Everyinvestment you make should serve
as a stepping stone towardlong-term sustainable growth and
efficiency.
That takes time.
Now, in a previous episode ofthe podcast, I shared some
actionable strategies you canconsider to help you enhance
your operational frameworkBecause, remember, outsourcing

(09:33):
isn't just a tactical decision.
It's a strategic move thatdemands careful preparation.
So, before you entrust tasks tosomeone externally, you need to
make sure your internal systemsare in place and working
efficiently.

(09:53):
This ensures seamlesscollaboration and it maximizes
the return on your investment,and that's time and money.
And the third thing you need todo is build strong customer
relationships.
You have to prioritize customercare by creating memorable
experiences that keep yourcustomers coming back and then

(10:15):
encourage them to spread theword about your business.
Maya Angelou said it bestCustomers may forget what you
said, but they'll never forgethow you made them feel.
This underscores the importanceof fostering genuine
connections with your audience.
Underscores the importance offostering genuine connections
with your audience.
Consider implementing acustomer feedback system to

(10:36):
gather insights directly fromthose you serve.
Whether you do this throughsurveys, reviews or one-on-one
conversations, you need toactively listen to their
feedback and then use it torefine your processes.
Now, whenever I talk aboutcustomer care.
On the podcast, I always useChick-fil-A as an example

(10:56):
because, in my personal opinion,they set the standard in the
fast food industry that needs tobe imitated.
Actually, all of us can learnfrom them.
Study their commitment toexcellence in service and
hospitality.
What strategies can you imitateand implement within your own
business?
Exceptional customer care isn'tjust about resolving issues.

(11:19):
It's about creating a memorableexperience that keeps customers
coming back, and the best partis they will tell all of their
friends about you, which is freemarketing, and who doesn't want
that?
Now, a customer care system isone of the six core systems your
business needs to have in place.
Your business will not thriveor survive without it, and while

(11:43):
you're enhancing your customerexperience, don't forget to
streamline your back officeoperations.
The BizOps checklist is theperfect tool to help you assess
the current state of yourbusiness systems.
It's just one of the manyresources available inside of
the Mighty Society membership,but it's designed to help you
quickly assess the current stateof your operations so you can

(12:07):
fill in the gaps and supportsustainable growth, and I really
feel this is important, whichis why I've made it available
outside of the membership.
You can grab your copy byclicking the link that's in the
show notes.
Now, if you would like morein-depth guidance on improving
your customer experience, then Idid a previous episode on this

(12:31):
topic where I share more tipsand actionable strategies on how
to provide the best customerexperience inside and outside of
your business.
A link to that will also be inthe show notes.
So now let's recap what we'vecovered today.
Hitting that $100,000 milestoneis an incredible achievement

(12:53):
and you definitely shouldcelebrate that.
So if you haven't done thatalready, I don't care how long
ago it was that you hit it.
I need you to do that now.
But keep in mind it's just thebeginning.
The key to sustaining andgrowing that success lies in you
evaluating and improving yourbusiness systems.
So the first thing we talkedabout was the importance of

(13:13):
taking a step back and assessingyour back office.
From financial tracking tocustomer care, you have to
identify what's working, whatisn't, and address what's really
ugly.
The back office assessment thatI offer inside of the Mighty
Society membership will shortcutthe process and will pinpoint
the inefficiencies for you thatare hindering your growth, so

(13:36):
you can handle that.
I also share the story of Jodiwith you again, who was working
in chaos behind the scenesbecause of her disorganized
digital filing system, amongother things.
It was costing her time andcausing unnecessary stress, but
because she invested in a backoffice assessment, she got a
custom action plan that showedher how we could streamline her

(13:57):
operations, implement efficientprocesses and set her business
up for continued success.
Implement efficient processesand set her business up for
continued success.
We also talked about thebenefits of having reliable,
streamlined systems in place,because they give you the mental
space and time in your day tofocus on what's important.
But to establish and enhanceyour business stability,
remember, you have to be smartwith your money, make smart

(14:20):
investments and build strongcustomer relationships.
So, as we wrap up this episode,I want to remind you that
inside of the Mighty Societymembership, you'll get access to
a number of invaluableresources, like the BizOps
checklist, and that's just oneof many.
All of the tools inside aredesigned to help you stabilize

(14:42):
your business operations andgrow.
Now, if you need my assistanceto jumpstart this process, as a
member of the Mighty Society,you again can book a back office
assessment with me and I willgive you a custom action plan
that outlines the changes youneed to make in your back office
, and then the roadmaps,templates, workflows and

(15:04):
bite-sized videos that you needto implement that plan are
inside of the membership already, but it doesn't start there.
If you join, you'll also bepart of a supportive community
of like-minded women who arecommitted to building
sustainable and successfulbusinesses.
So, whether you need advice,feedback or just a bit of

(15:25):
motivation, this community willsupport you every step of the
way.
So if you're ready to take yourbusiness to the next level and
unlock its full potential,consider joining the Mighty
Society membership.
It's an investment in yourbusiness that can unlock
efficiency, save you time andfrustration and set your

(15:47):
business on a course forsustainable growth.
For more information, go totheshannonbakercom forward slash
membership.
If, again, you don't know whereto start, you can simply book a
20-minute call with me.
A link to my calendar will bein the show notes.

(16:07):
I just need you to get started.
So pick one thing from todayand go with it.
That's all I have for today.
So until next time, getprepared to use your time and
energy on what truly matters toyou, and I'll see you back here
next week.

(16:27):
Thank you for tuning in thisweek.
Remember, just listening tothis episode will not get you
better results.
So I challenge you to break themold and take action today.
If you're unsure where to start, book a call with me to get
your questions answered aboutthe Mighty Society, membership
or anything else that Imentioned.
A link to my calendar is in theshow notes.

(16:49):
Not ready to take that step yet?
No problem.
Be sure to connect with me onInstagram, at the underscore
Shannon Baker.
You can ask me your questionsthere or let me know that you
enjoyed the episode by taking ascreenshot, sharing it and
tagging me.
Now, if you haven't alreadygrabbed my free audio

(17:10):
masterclass, why don't you juststart there?
It's a great first step toassess your back office on your
own, and this masterclassprovides valuable insights and
practical steps to help youorganize your processes, reduce
chaos and improve efficiency.
Go to theshannonbakercomforward slash audio masterclass

(17:34):
Now.
If you haven't left a reviewfor the podcast yet, please do
so.
I would love to hear from you,and it's an easy way to show
some love to the podcast andhelp me reach more small
business owners who are ready todefy the status quo.
I can't wait to hear from you,so until next time, keep calm

(17:55):
and streamline.
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