Every business that is successful needs clear ways to scale (get larger). But you can’t do that very well without building systems to support the regular activities that make the business run. On this episode of Freedom Fast Lane, Ryan chats with three members of the Freedom Fast Lane Tribe who are rocking 6 figure businesses. They have specific questions about the steps they need to take in order to take their businesses to the next level and you guessed it, building systems applies in some cases.
You don’t have to make decisions about the future direction of your business until you are there.
Amanda is an FFL tribe member who has built a $100K revenue business in just 6 months. She’s realized as she has seen the business grow that what she really wants to do is create a service around the niche where she’s selling products, so she’s hopeful she can leverage the product sales toward that end. Ryan asked a few penetrating questions about that and challenged Amanda to stick with the business side of things until she’s able to quit her full-time job. She can make the decisions about the future direction when that happens. You’ll enjoy hearing these case studies featuring real Freedom Fast Lane Tribe members, on this episode.
Is it possible to rebuild a set of reviews when Amazon changes kill yours?
One of the Freedom Fast Lane Tribe members featured on this episode was using review groups to fuel his product reviews on Amazon – then Amazon changed the rules, disallowing reviews from those groups. He went from over 300 reviews to just over 30 and his product rating has dropped as well. He’s curious what he needs to do to recover from the drop and whether or not it’s even possible. Ryan tells him a few things he can do to get things rolling again and also provides some insight into what he can do to scale the business even more, on this episode.
The good people aren’t looking for a job, so you have to sell your position on culture and fit.
When it comes to building systems and scaling his businesses, Ryan hates doing it. By his own admission, he’s not good at it and doesn’t like it. Nevertheless, as the business gets larger systems are what hold everything together and make things efficient (and cost-effective). What does he do? He hires people – project managers – to build the systems and teams that will run things for him. But he says that he’s never had success posting want ads and taking applicants. He’s found the best success pursuing people who aren’t really looking for jobs. On this episode he tells you how you can do it, so be sure you listen.
Outline Of This Great Episode
- [0:41] Looking at Tribe member businesses to learn what we can about systems and scaling.
- [1:34] Case study 1: Amanda’s business and the products she’s selling on Amazon – $100K in revenue in 6 months.
- [5:29] Case study 2: The experience of losing a solid set of product reviews through Amazon changes.
- [10:28] Case study 3: Where do you find good people to help you with building systems.
Resources Mentioned On This Episode
- www.FreedomFastLane.com/tribe – join the tribe
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P.S. Tickets for this year’s Capitalism Conference (Formerly Freedom Fast Lane LIVE) are now on sale. Go get your tickets here!