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Maximizing Investments: Navigating Support Options for Small Businesses
Episode 78th February 2024 • Growing a Deeply Rooted Business • Jessica Walther & Rachel Lopez | Rooted Business
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In this episode of the Deeply Rooted Business Podcast, hosts Jess and Rachel discuss the importance of understanding and choosing the right types of support available to small business owners. They explore common pitfalls when investing in support, such as financial drain and wasted time, while highlighting the benefits of bringing on the right support at each stage of business growth. From mentorship to coaching and consulting to specialized service providers, they provide valuable insights on how to navigate your unique journey towards success. Tune in now and learn how to make informed decisions that will help you get the most out of your investments.

- [00:01:11] The pitfall many entrepreneurs face is overcommitting their investment budget by not allocating enough funds for hands-on implementation or service providers.

- [00:03:24] Setting aside reserves specifically for investing helps prevent financial strain when exploring various types of support.

- [00:05:48] Investing time in foundational business coaching programs may lead to wasted hours if you already possess knowledge about certain aspects.

- [00:08:32] Mismatching expertise can hinder progress; knowing exactly what type(s) of support are needed is vital before making any hiring decisions.

- [00:10:56] Hiring someone who provides strategic guidance based on their experience saves time during training processes.

- [00::12::50] Breaking through blind spots and accelerating growth are key benefits of bringing on the right support.

- [00:16:34] Starting out, mentorship can provide valuable advice from someone who is already successful in your desired field.

- [00:18:33] Coaching helps with mindset blocks and empowers you to move forward during the stretching phase of business.

- [00:21:02] As your business becomes more complex, hiring a system specialist or management expert can help streamline processes for increased efficiency.

- [00:23::35] When scaling up, it's crucial to invest in consultants or strategists who offer customized guidance tailored to your unique business needs.


Are you ready to take your online business to the next level? Tune into this episode of the Deeply Rooted Business Podcast and gain insights on navigating different types of support. Make informed decisions that will propel your success. Don't miss out—listen now!

Connect With Us:

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Rachel's Website

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Get Jess's Sustainable Success Systems Starter Kit, a Notion Business Management Systems that takes your business from overwhelmed to organized with 4 foundational workflows. <<Learn More Here>>


Diagnose Common Launch Problems and Fix Them Fast! Get the Launch Cure Guide : https://www.thelaunchcollaborative.com/launch-cure

Get Rachel's Guide to a High-Converting Email list to learn 4 shifts to elevate your emails & embrace sustainability in your marketing. <<Get it Here>>

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Transcripts

Jessica:

Hello and welcome back to another episode of the

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Deeply Rooted Business Podcast.

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My name is Jess.

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I'm here with my lovely co-host, Rachel.

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Rachel: Hello.

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. Jessica: Today we're gonna be talking

about navigating the types of support

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available to you in online business.

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I know when a lot of potential clients

first reach out to me, one of the things

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that they put on their application is that

they're unsure of the type of support.

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They need.

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So we're hoping that this conversation

will help you one, become aware of

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all the different types of support

there are available to you as a small

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business owner and how to choose the

right kind of support and match that

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to the stage of business, of the stage

of growth that you're in so that you're

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getting the most bang for your buck.

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Rachel: Yeah, I think one of the biggest

pitfalls in the support area is that

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people overcommit their investment budget.

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In the coaching space and have

absolutely zero budget when it

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comes to hands-on implementators,

service providers and all of that.

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I see that as something big where oh, I

just invested in this $10,000 mastermind.

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I have no budget.

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But we're gonna go through the

various levels of support and the

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types of support so that you can see,

when you are reaching that growth

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spurt in business, that possibly

a coach isn't what you need there.

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That it's a delegation

support system of some sort.

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So we're gonna go through all

of that and hopefully you guys

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find this episode very helpful.

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jess--she-her-_1_01-26-2024_130707: I

know we talked about this in episodes

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previously, but we talked about looking

at the support you bring on and your

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team members that you bring on through

the situational leadership lens.

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So matching your developmental

level of a business of your, as

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a business owner to the types of

support that is available to you.

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So you have people that can do it

and then you have people that can

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coach it and sometimes, you just

need people to jump in there and

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get stuff done for you at some point

because you're maxed out on time.

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Let's first start out by talking

about the, some of the pitfalls

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of just, and we went over this a

little bit already, but the pitfalls

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of investing in the wrong support.

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Number one, like Rachel mentioned it

can be financial draining if you're

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investing in the wrong support.

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I'm sure as a small business owner, your

operating expenses, you'd to keep those

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as minimal as possible, and the budget

that you have for support is finite.

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So it's important to.

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Really take a proactive approach

to figuring out the type of support

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you need and then finding the

right person to fill that hole.

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Track 1: One of the things that

I've noticed that a lot of people

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don't do is put aside a certain

amount of reserves for investing.

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And then that's why when you get

shiny object syndrome or you get very

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interested in a new program, it could

be easy to kinda not have that guidance

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to be , do I have the budget for this?

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And then you stretch

yourself a little too thin.

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So I think that's also something on

the financial drain side to be aware

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of is that as you're establishing your

books of some sort, I use Novo as a

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banking system, and they have these

really amazing systems where you can

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say, create a reserve bucket and it

takes 1% of all inbound transactions

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and it puts 1% towards investments.

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I have another one for taxes.

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That can be something that can

really , support you as you start

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to get into investing in whatever

type of support that you don't see.

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Find yourself , struggling to make

ends meet on your own side because

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you haven't prepared yourself to

make investments in your business.

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Jessica: That's an important shift

that gets missed when you're moving

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from the startup phase of your business

to the stretching phase is yes.

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Maybe when you're first starting

out, you might go into a

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little bit of the red area.

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As you begin to resource yourself and

invest in, the systems and support that

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you need to get your business going, but

as you're maturing and moving into, your

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2, 3, 4 of your business you really should

be setting aside some of your profits.

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To be able to do that type of

investment that Rachel is talking about.

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And that was something that wasn't

very apparent to me at first.

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I was actually talking to my mom's boss.

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She works for this guy.

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She has worked for him since I was born.

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So they've been together , I think

they're closer than my parents' marriage,

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but I was asking him for his business

advice because he grew his business

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from nothing to literally, it makes.

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$12 million a year.

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And I was asking him, what

advice he had for me as somebody

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that was, newer to business.

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And he just said, the first couple of

years he just invest, had a set budget,

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he took care of his family, but then

he had a set budget for investing back

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into his business to build and expand

his team and the support he needs.

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Track 1: The second pitfall?

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What would you say that is?

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jess--she-her-_1_01-26-2024_130707:

So financial drain.

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And then the second one

would be wasted time.

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Track 1: Yeah, I think this is one of

those that I have personally, and this is.

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Very revealing, but to me, I would

get sucked into a lot of the coaching

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programs that had make X amount of

money consistently and make this system.

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And it always made me feel I've never,

I didn't have a secret key that they

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were offering or a secret formula

to consistently do this and this.

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And I really got sucked into a

lot of foundational business.

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Coaching programs probably about

year one or two, and as I was going

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into the program I was like, oh

my God, I know all of this stuff.

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This is such a waste of my time.

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If only I would've trusted myself

that I knew what I was doing.

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Or at least understood the landscape

of the online space where consistency

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is what you make it consistency

in your own business as far

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as results and leads and stuff.

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It's all built off of systems and stuff.

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And so if I would've just had an

ounce of self-trust to be like,

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girl, you know that you don't need

to invest this prog into this program,

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I would've saved a lot of time.

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'cause I do tend to lean on that side

where I'm maybe they just know something.

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I don't, no, they're all preaching the.

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jess--she-her-_1_01-26-2024_130707:

Yeah, and I think an even worse kind

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of situation that you can get yourself

into is if you're really, moving.

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From a reactive state is sometimes

you can even get sucked into programs

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or learning things that is not right

for your particular business or your

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particular strategy, and you can go

down this path of trying to pursue.

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I'm thinking about a particular time I got

sucked into a program where it was about

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creating a certain type of offer VIP days.

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And it brought me down this path that.

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It really wasn't right for my business.

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And I waited a lot of time and

effort and energy trying to build

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out this new offer that really

wasn't strategically aligned with my

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values or my vision for the business.

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But I was just , oh, this is a

way for me to grow really quickly.

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So I think, always reflection first

to be proactive in your investments.

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So then the third one is

just, mismatched ex expertise.

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And I'm gonna let Rachel

rant on this one because.

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Track 1: Yeah, I literally have this

pinned as one of my top three posts in

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my profile on Instagram because it's

something that I experience on a very

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consistent basis where people need support

to increase their, to improve their

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customer journey to do all of this stuff.

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And they have this idea that an email

marketer is a copywriter and that's.

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Somewhat true.

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There are components of copywriting

inside of email strategy, but there's

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so many layers to it, and you can

even think about this, a general OBM

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may have launch support, but a launch

strategist is more beneficial to you

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if you're in that consistent launching

space than a just a general OBM.

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So really understanding the actual need

and the actual support that you need.

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Rather than going for oh, this person,

she has really good copy and her clients

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are this and that, but if you need

support building engagement, running AB

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tests, segmenting properly, that's not

a copywriter, that's an email marketer.

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So there's a lot of those buckets,

especially in the online space where

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kind people create their own titles

and their own . Categories for service

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providers that you can easily get

stuck into, and that's another time

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suck or a big pitfall that you might

experience as you're going into, what

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do I need help with and all of that.

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jess--she-her-_1_01-26-2024_130707: Yeah,

I think it's so important before you

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move into the hiring phase, and when I do

hiring for clients, this is what I do with

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them, is to really identify both the.

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Skills and the competencies that you're

looking for to fill in your business

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because you wanna have that balance, you

wanna have a balance of inner energetics.

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So a lot of my clients will be more

of that cap here, I'm gonna go in

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for energetics again, but they'll

be more of that CAPA client and they

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need me to light a fire under them.

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Or if we have two really airy Vata

people, they're not gonna get a lot done.

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So one.

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Identifying the skillset that you need

for that person, because I think a lot

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of people working in online business

can develop, or I know for myself, have

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a wide range of skills, but I'll be

perfectly . Upfront with somebody when

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they, , when someone wants to come up to

me and be , I wanna do a launch using ads.

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And I'm , that is not my, strategy.

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I'm more of an organic

launch type of girl.

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So knowing what skills, how this person

is gonna tie into your strategy, and then

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what kind of competencies or energies that

you're looking to fail is really super

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important when you go before going into

that interviewing phase with that service

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provider.

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Track 1: Yeah.

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jess--she-her-_1_01-26-2024_130707:

All right, so let's go in.

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Should we talk about benefits

of the right support?

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I think we can quickly go over this, but

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the benefits of rights of hiring the

right support is you're gonna get

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strategic guidance, based on their

expertise and their experiences.

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I was actually talking to a potential

client yesterday where I was

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, highlighting one of the benefits of

working with me is that because I focus

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on integrative wellness professionals,

mostly dieticians, is that I have an

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overview of all the different business

models of all the different packaging

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models, and I can tell you the pros

and cons of each of them because I

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have clients that do separate ones.

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So you're tapping into that expertise

and knowledge, and I think that's why

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it's so important to know what type of

support and get as niche as possible

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as you can when hiring that person.

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Track 1: Totally.

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I think it saves you a lot of time

in the training process when you have

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someone who is familiar with that stuff.

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It's almost why they tell service

providers or coaches or whatever to

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niche down because your processes

can be . Streamlined it compared to

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if you're just hiring a generalist,

they may have experience in all

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of these other things and you have

to train specifically in that.

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I think I find that to be my

biggest challenge when I'm hiring.

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Right now I need a

marketing assistant, a.

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Virtual marketing assistant, but

who understands email platforms

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that everywhere I've been

looking, that virtual assistant is

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social media is graphic design.

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And I'm no.

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I need an email specific one.

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And so I think that's definitely I've

wasted a lot of time hiring people that

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are , I'm a quick learner and I can pick

up those things, and then they just don't.

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So I think it is one of those

things that's really important.

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It's a massive benefit that if I

had someone that can just come in

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and do it, I'd be , yes, please.

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You're hired.

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jess--she-her-_1_01-26-2024_130707:

I think about that too when when I

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see clients invest in courses that are

general launch courses and I'm like, if

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you're in the health and wellness field,

your launch is gonna be so much different

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than a business to business launch.

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So whenever you're trying to vet, courses

or service providers, it's important to

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really keep that niche specific in mind.

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So another benefit of hiring

the right support is being able

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to, tap into their resources.

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I already mentioned, how I can give you

a strategic guidance from what I see

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working in other businesses, but because

I've worked in that specific niche, I've

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now developed templates and a network

of other providers who ha, who can

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support these specific clients as well.

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Track 1: Yeah.

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jess--she-her-_1_01-26-2024_130707:

Rachel's like nothing to add there.

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Track 1: I am terrible at hiring,

so I should probably just put on my

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listener ears here instead of offering

feedback that doesn't support myself.

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jess--she-her-_1_01-26-2024_130707: And

then finally it's just benefits of, and

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the final benefit of bringing on the

right support is breaking through your

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blind spots, and accelerating your growth.

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Track 1: Yeah, I will say that this is

one though that can easily go into the

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delegation and the outsourcing space.

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I don't need, and I'm gonna use

myself as an example because it's

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something I have been teetering with.

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For probably about a good six months to

a year where I'm , I need to know and I

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need to learn the ins and outs of SEO.

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Do I need that?

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No, I don't.

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That's not what I offer.

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It's not any of my services.

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Would it just be easier for me to

outsource that and let somebody else.

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With that specialty take on.

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Yes, a hundred percent.

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But in my brain I'm , I

should learn this myself.

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And I have wasted so much time trying

to learn this props to those SEO peeps.

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'cause it is not.

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My cup of tea.

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But it is one of those things

that , if you don't enjoy it, if

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it's not in your zone of genius,

a hundred percent outsource it.

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You don't need to get stuck into

the weeds of it if it's not gonna

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ultimately support the bottom line.

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If you do it,

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jess--she-her-_1_01-26-2024_130707: yeah,

I think having a general understanding

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of how it works or having someone on

your team that you trust is important.

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So that, if you're getting results,

but yes, I would never try to go

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figure out how to run a, an ad

because not in my zone of genius.

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Don't wanna waste that

time, money, and effort.

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Not happening.

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All right,

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so let's talk about the different

types of support and where we think the

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point in your business journey would

be the best to bring this person on.

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One is mentorship.

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So mentorship really is.

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I think when you're just first

starting out, it can be a

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wonderful thing to tap into.

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Mentorship is getting advice

from someone who is doing the

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thing that you want to be doing.

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And you can do paid mentorship or

you can do networking, mentorship.

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When I first started out my

business, I invested in mentorship.

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There was another OBM that I saw,

and at this point I really wasn't

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exactly sure what an OBM did.

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So I scheduled a 90 minute call with her.

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She kinda walked me through, everything

that she provided for her service and gave

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me some tips and resources to go to to.

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Kind of get started on

this journey my own.

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Track 1: Yeah, I definitely have had

that similar experience . As I went from

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service provider to micro agency, which

is a current transition that I'm in.

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I've gotten the incredible mentorship

where it's un unfiltered advice

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from someone who has done it in

a way that I would to do it.

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And I think that's definitely the

difference from what we're gonna

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talk about next, which is coaching

where I don't think coaching ex is.

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That has that mentorship level, I

think it has components of it, but I

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really do agree with your statement

of people who are doing what you want

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to do, go into their space and kind

of consume in an unfiltered container

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and ask the questions, learn what

you don't know and all of that.

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I definitely think that's more in that

coaching or in that mentorship sphere.

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jess--she-her-_1_01-26-2024_130707:

Yeah, so another good investment.

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I think that when you're just

starting out, and this is really

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depending on how scrappy you wanna

be, is tapping into specific service

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providers to get you off the ground.

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So depending on your budget,

you may want to hire.

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Someone to do a landing page

for you or, help you get your

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Instagram set up and going.

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It's just really gonna depend

on your situation at the time

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and where you need support.

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I think.

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For me, I did it all myself, but it

took a lot longer for me to get started.

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So it's just at that place in time

when you're just starting out,

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what are you more resourced with?

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If you're

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resourced with a lot of time, then figure

out how to do it yourself and get scrappy.

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But if you really need to make money

quickly than investing in specific service

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providers to help you get things off the

ground can really be a great way to go.

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Track 1: Yeah.

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And I wanna note you said

service providers, which I

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think is super, super important.

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'cause I think when people

are starting out, they do a

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lot of investing in coaches.

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They're hesitant to hire

the service provider to then

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support them in that space.

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And I think.

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If you're listening to this and you

are in that kind of first year of

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business, like Jess said, if you

have time, try to learn it yourself.

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Try to take on, but if you really

wanna bring something up to speed, like

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launching a program, hiring someone to

write that copy, get you through that

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trial and error is a lot easier than going

through a launching coaching container

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where they're just gonna tell you how to

do it and then you still have to do it.

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jess--she-her-_1_01-26-2024_130707: Yeah.

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Or even worse courses.

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I think I wasted, so I can't even tell

you how many courses or those giant

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bundle things were really popular in 2020

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when I was just getting started.

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So I'd buy a bundle and try to learn

. All 100 things that were in that

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bundle and implement into my life.

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And if I would have just

outsourced that stuff, I would've

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made traction so much quicker.

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All right.

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So moving from starting to stretching.

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I think this is where coaching can really

come in to help . Empower you break

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through any mindset blocks that you

may be having if you're having specific

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issues with focus or that sort of thing.

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I think at this point when you're starting

to stretch your business and get into

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those kind of more uncomfortable bits,

coaching can be really beneficial to help

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you pull you forward to the next stage.

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Track 1: Yeah, I do see so much value

in that kind of mindset therapy-based

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focus of coaching because it does

get you from there's so many.

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Levels of self-awareness that you have to

go through As a business owner, I always

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say, running a business is a fire hose of

self-awareness, like straight to the face,

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you're challenged with imposter syndrome,

you're challenged with self-doubt.

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All of those things can

really cripple and hold you

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back in your business journey.

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And I've seen so many impactful

coaches that really do get you to that

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next level and help you through it.

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Also, a big fan of if you're in

business, you should be in therapy

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too because it brings up so much stuff

that 10 outta 10 maybe a licensed

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professional should help you with that.

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From one place that I don't necessarily

see a lot of value in is that kind

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of marketing coaching side of

things, which I think is really funny

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'cause I am in that marketing space.

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But I think there's a lot of people

out there that have maybe done

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something successful once and then

build coaching programs around it.

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And I think that's more leaning into

maybe I would rather go the service

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:

provider route than hiring a coach

or a course to teach me how to do

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one thing one time when it's not a

repeat system or something that.

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That may be just me and my

own world over here, but.

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jess--she-her-_1_01-26-2024_130707: M,

maybe not looking at a marketing coach,

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but more of a marketing strategist

that's gonna work with you to develop

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something that's unique to your business.

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Because once you're

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moving into that stretching phase,

you're putting your roots down deeper,

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and you're gonna really need to start

building those foundations to build your

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business the way that is uniquely yours.

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Track 1: Okay.

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jess--she-her-_1_01-26-2024_130707:

And then as you begin to stretch your

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business too, this is when your business

can start to feel a little more complex.

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Your time's gonna get

a little more crunched.

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As you continue to bring on new

clients or produce new products.

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So this is really when hiring a system

specialist or someone with a management.

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Background can really be beneficial

to help you establish those systems.

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First to be able to not only

maximize your time, but just

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create more flow in your business.

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Put in some processes because before

you start really hiring a team.

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You're gonna want to make sure that

you've maximized and streamlined

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everything you can, because if you

throw someone into the ms, it's

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just gonna compound those problems.

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Track 1: Literally me.

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But also I will add a note there it

is so beneficial, especially if you're

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a neurodivergent business owner.

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Struggling with some type of, or embracing

some type of A DHD, dyslexia, all of that

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stuff, the systems, the organizations,

all of those kind of routine type

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elements, they don't come natural.

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And I say that because I am one of

those neurodivergent business owners.

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It's not something that exists in my

brain that I'm . Yeah let's do this.

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And then I'm checking this off every

day or doing, whatever that looks . So

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a hundred percent, instead of me trying

to figure it out on my own, trying

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to build systems that work for me,

I out, I would to outsource that.

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Probably to Jess when she wants to

hire me or when I wanna hire her.

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And really understanding that

you don't have to do it all.

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There are people out there

that have that expertise.

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And again, if it's not in your zone of

genius, you do not have to force it to

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be just because you're a business owner

and you wear 25 hats a day of all of the

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different roles and everything that.

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So I would say that's one of those

distinctions that's . Really trust

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that you can just outsource that.

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jess--she-her-_1_01-26-2024_130707: Yeah.

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Yeah.

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And I don't wanna get on my systems

rant, but I think this is the number one.

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Thing that you can do to protect your,

mental health as a small business

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owner is, I really do believe that

systems and processes are self-care.

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They're not sexy, believe

me, they are much.

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Maybe I'm just biased, but I think

they're much harder to sell than

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the marketing side of things.

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'cause I was talking on to a new,

a potential client yesterday on a

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discovery call and she's okay, but

when do we get to the fun part?

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And I'm , this is gonna make your life

more fun down the road, I promise.

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Track 1: Systems are the side of business

that email marketing is to marketing.

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It's not sexy.

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Nobody wants to do it.

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Nobody wants to talk about

it, but it's so impactful.

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Maybe that's why we get along so well.

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jess--she-her-_1_01-26-2024_130707:

Yeah it's all right.

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Now we're moving into, when you're

scaling your business, and I think

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we talked about this before when

we were talking about, whether you

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invite coaching versus Strat strategy.

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I.

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And I think as you begin to scale your

business, it's really important to invest

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:

in a more consultant or strategist to

provide expert guidance for optimizing

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:

your processes for scalability and

helping you navigate the unique

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:

complexities that only your business has.

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'cause once you get to a

point a problem that I'll see.

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Is they'll sometimes my clients will

invest in a course or a coaching

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:

program, and it's so generic

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and so chockfull of information, what

mostly that would take them a year to

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get through this, where you could just

hire a strategist who have helped similar

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businesses you and you're going to

accelerate your growth so much faster

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:

by going that route versus trying to

take a course or coaching approach.

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Track 1: Yeah, I think it's the nuance

of business needs to be considered when

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you are scaling your business because

there is so much uniqueness and it's

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:

I'm gonna say, I know I've said this.

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:

In the past, but if somebody would've

given you the roadmap to Google

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:

or Apple you cannot replicate that

in itself because there's so much

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uniqueness to how they built it and

your business is the exact same way.

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You are this , secret sauce to

your business and so ha, making

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:

sure your strategies work.

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Alongside of you is really important

as you're in that scaling growth.

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You don't want cookie cutter marketing

plans or marketing strategies

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:

to help you scale your business

'cause it's just not gonna work.

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jess--she-her-_1_01-26-2024_130707: Yes.

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And additionally why I think that

having a general VA on almost any

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team is essential to handle things

inbox and scheduling and those

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:

kind of mundane day-to-day tasks.

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Once you've got your systems and

processes set up, the next part of

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scaling is really starting to outsource

to those experts in their specific.

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So those specialized service providers

in areas marketing, email marketing

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specifically if you wanna grow ads and

ads tech, that sort of thing as well.

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Track 1: Yeah, totally.

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jess--she-her-_1_01-26-2024_130707:

When you're responding,

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you're like, yeah, totally.

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Track 1: So let's do a recap of types

of support, because I think there

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are so many that I think is really

putting them into perspective of you

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have mentorship, coaching, consulting,

service providers, management

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general admin, and an in team house.

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:

When you're choosing your support

for the next stage of business or

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whatever that looks for you, really

understanding that there are so many

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options and there's different needs

for every option that exists out there.

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So as you are growing your support

ecosystem, just keep that in mind

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:

'cause it's so important to remember.

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jess--she-her-_1_01-26-2024_130707:

It's really important, I'm gonna harp

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:

on my reflective and proactive planning

again, is as you're setting your goals

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:

for each quarter or even for the.

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:

Year, trying to take a proactive

stance and thinking about what type

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:

of support do I want to bring on next.

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:

So one, you can start stashing

away if you don't have it.

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:

The money to invest in

that, those types of people.

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:

And two, know when you're gonna bring

them on and what other things need to

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:

be put in place for that to happen.

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Track 1: I'm in that stage

now with my business.

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I think I've planned to hopefully

hire two additional people this

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:

year, and once I do, it's gonna be

crazy 'cause it's gonna be really

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:

helpful for me and I'm gonna have.

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:

All this free time, I'm

be , what do I do with myself?

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:

But then I'm gonna have

to grow the business.

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:

Yeah, it's just one of those things.

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Support is, it's sticky, but it's

so necessary to, wherever in your,

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wherever stage of business you're in,

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jess--she-her-_1_01-26-2024_130707: Yes.

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All right.

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So we hope you found this helpful,

and until next week we are

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Track 1: we're

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for you.

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