small business owner

Advice to Small Business Owners in 2020

Advice to Small Business Owners in 2020

Alex BermanAre you a small business owner here is small business owner advice for you this is my best advice for small business owners I’m gonna go through four things that you as a small business owner should be doing in order to escape your business and start living free Who am I I’m Alex Berman I’m the founder of x27 I also run a software company I run a digital services business.

Yes I’m also a YouTuber here we’ve generated over ten million dollars in revenue for our clients and so you might consider me a little bit of a small business owner what’s cool also is I am free I’m working on my own schedule I’m not working 80 hours a week right I’m pretty free I’m working as much or as little as I want it’s pretty cool we’ve got a whole team going and it’s very possible for most business owners to do that and that’s what I want to cover in this video four things that you as a small business owner can do to start the process of escaping the small business owner advice trap that is most small business.

First, let’s start with s̲m̲a̲l̲l̲ ̲b̲u̲s̲i̲n̲e̲s̲s̲ ̲o̲w̲n̲e̲r̲ ̲a̲d̲v̲i̲c̲e̲ what happens in most small businesses you start a business because you either want to make money or you’re good at something then customers are paying you for this thing then you start working on the delivery of that thing then you end up doing the work on that thing putting a lot of your time in and eventually you’re only working on this thing putting all your time into delivery instead of into sales and what that leads to is you as a small business owner have now instead of getting the freedom business that you wanted you’re ending up with a business that is more like a job.

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Now you have to show up at the office every day and do a certain number of tasks and you’re not free and you might even be working more than you were at a corporate job and that sucks nobody wants that you become an entrepreneur because you want freedom you want to live your passion you want to do things that excite you so let’s cut all that out here’s the four step process number one figure out how you make money where does the money actually come from in your business and that doesn’t mean let’s say you sell widgets the way you make money is not selling widgets the way you make money is we call vendors and those vendors give us money for widgets or we go to trade shows and sell our widgets to customers at trade shows how you make money is not the product itself how you make money is literally how you make money how do you get to the customers that pay you cash for us we make money through cold email which is our number one source and these YouTube videos which is our number two source

So if I was a small business owner and I wanted to focus only on what makes the most money I would be making more of these YouTube videos and sending more cold emails that’s that so number one figure out how you actually make money how does the cash leave the customers hands and come to you number two scale that heart if you find out you make most your money from trade shows and you’re doing one trade show a month do ten this month do fifteen this month scaled the crap out of the way you make money and run that yourself at the start then number three once you have figured out how you make money and you’re scaling it up you’re doing more of these things that make you the money you remove yourself from everything that doesn’t make money directly that means if you’re a consultant and you’re doing small business coaching but you find out that the money is being made from cold email now instead of spending 40 hours a week actually talking to clients you move those 40 hours to work on new business and generating revenue instead and hire somebody to be the business coach for you that is the first step to escaping

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Now You’ve heard this small business owner advice it’s important to test your subject lines to have at least an 80 percent open rate and we’ve been able to achieve that pretty consistently for our clients selling the billion-dollar brand the hardest part was coming up with the subject lines but lucky for you we put together 50 cold email subject lines for you to test at email 10k com/subject I remember when I first decided to cut my hours incredibly the thing that was taking up most of my time was consulting calls people were paying me up to $1,000 an hour to consult on their cold emails what we did instead is now Robert Andrus my co-founder handles the consulting calls we charge a couple of hundred bucks an hour instead and he is able to take these calls and be just as good if not better than I was and our customers are getting more value from it because it’s cheaper and we’re all winning here and I don’t spend any time on it more importantly so I can focus on new business stuff

Then what you want to do is once you’ve removed yourself from everything else so that you can focus on the thing that makes money for your business you’ve worked on that thing only work on making money for your business until your revenue is high enough then number four you remove yourself from that money-making thing hire a salesperson to take over that aspect of your business that makes money and now you’re doing nothing you’re not working on the product you’re not working on the marketing and you’re not working on the sales you are now a business owner you’re free you’re in the new rich right you’re doing nothing you’re doing whatever you want all day and working on the systems of the business instead of working in the business

So that’s the four-step small business owner advice plan to escape your small business and increase your revenue while at the same time buying your time back and that best advice for small businesses again is figure out how you make money scale that hard remove yourself from everything that doesn’t make money then remove yourself from the money-making do those and start living the life you want you to have any questions on what we just talked about feel free to leave a comment below let’s get a conversation going thanks for watching the video feel free to subscribe to this youtube channel for more content like this we do videos three times a week all about sales marketing how to be a better business owner etc like this video to encourage this type of content on YouTube and if you want business coaching from us check out two twenty coaching com

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