Letting go to grow & how to revamp your role for 2024

Get some of your time back next year. Here’s how…  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ Issue #69 | December 19th, 2023 Hi, it's Pat! Eventually, you get to a point in your growing business where you have to make a decision: do you maintain your current scale for comfort and control, or choose to grow? (And as I shared last week, the third option is burnout. We want to try to avoid that.) If you’re leaning towards growth, it’s vital to approach this path smartly. Embracing growth doesn’t mean sacrificing your well-being or your business’s integrity; it means strategically expanding with the right team, systems, and mindset to make it work. In today’s newsletter, I’m going to share a few crucial tips and approaches you can take as you hire some help (which is likely on your mind for the upcoming year). Let’s get unstuck… QUOTE OF THE WEEK “Great vision without great people is irrelevant.” – Jim Collins THE STORY I could talk for days about how hard it was for me to hire help. My first time hiring someone was for an audiobook project. I was very reluctant to contract anyone because I thought I could do it myself. In fact, I did record the audiobook for my architecture study guide myself, and it was terrible. To try and “save money,” I recorded it with the equipment I already had. But after two weeks, I realized I couldn’t ship it to my customers. It was just bad. (This was back in 2009 before I had any podcasting experience.) Eventually, a friend of mine from a mastermind group convinced me to use a website called ELance.com (which later merged with ODesk.com and eventually became UpWork.com, which still exists today). I found a voiceover artist named Trish who wanted $1,200 for the job — I thought that was outlandish. I could just use that money to buy a better microphone or get some narrator coaching before I went to record. Why was I so reluctant to pay someone to do it? I had to let go to grow, and that’s exactly what I did. After four days, Trish sent over a beautiful, crisp audio file that I sold with my written study guide. And guess what? After two days, the sales made up the cost of hiring Trish. That was my first experience with understanding that you can buy back your time. I eventually hired a podcast editor and someone to help me with my email. These are people I still work with today and are part of a team of contractors who later became employees of my company. Here are some things to know about hiring others and building your team: 1. The Art of Smart Delegation Doing everything yourself is a one-way ticket to overwhelm. It's time to embrace delegation. But here's the catch: smart delegation isn't just about offloading tasks; it's about strategically assigning the right tasks to the right people. Identify What to Delegate: Start with time-consuming tasks that aren’t necessarily your forte. This could include administrative work, social media management, or even certain aspects of customer service. For me, it was email and podcast editing. Letting go of that work saved me a lot of time. Find the Right People: Hiring doesn't mean compromising on quality. Whether it's freelancers, or part- or full-time employees, look for individuals who share your vision and can bring their unique strengths to your business. 2. Setting up Systems for Success Once you have a team in place, it's crucial to establish systems that ensure smooth operations. Communication Channels: Whether it's Slack, email, or project management tools, choose a platform that works best for your team's communication. Standard Operating Procedures (SOPs): Document processes for common tasks. This ensures consistency and makes it easier for new team members to get up to speed. 3. Maintaining Your Vision While Letting Go Letting go can be challenging, especially when you're used to being in control. But delegation isn't about losing sight of your vision; it's about multiplying your efforts to achieve it. Here are a few final tips related to this: Trust, but Verify: Regular check-ins and updates are essential, but avoid micromanaging. Trust your team while keeping an eye on progress and quality. Keep the Core Close: Identify the core aspects of your business that you're passionate about and keep them under your direct supervision. Even though I was initially afraid to let go, I found that there are people who can do certain things much better and faster than me. I used the newfound time to focus on what I love to do most — the things that only I can do to move the business forward. Remember, you have to let go to grow. Start small and scale up from there. You got this! SPI NEWS AND EVENTS Now is the perfect time to join the All-Access Pass, and here's why. It serves as an educational compass for entrepreneurial development and growth, all wrapped up in a community that keeps you on track. Next month, we have multiple exclusive events, including a workshop on fine-tuning your marketing funnels and a course accelerator to level up your podcast with the guidance of a supportive cohort. But here's the kicker — as we continue to grow, our prices will increase in the new year. [Sign up]( before December 31st, 2023, to lock in our original price structure. We look forward to seeing you in there! Many companies lose sight of a key principle for success — treating customers well. In this episode of the Smart Passive Income Podcast, Pat Flynn is joined by Kerrie Fitzgerald to discuss the organic marketing tactics that have fueled her growth without a dime spent on ads. How can an audience-first mindset set you apart in the online business landscape? What opportunities does it unlock for expansion into physical products? [Tune in](=)now to find out! We're gearing up for next year's curriculum and would love your input! We're interested in learning which topics you would like to explore within the All-Access Pass, both as accelerators and general resources. Please take a moment to [complete this brief survey](=) and help us fine-tune our product to better suit you. Your help is greatly appreciated! DAD JOKE OF THE WEEK What was Dr. Frankenstein’s New Year’s resolution? To make new friends. Did a cool person forward you this email? [Sign up here for free](). Want to reach over 125,000 entrepreneurs? [Become a sponsor](). [Link to SPI's Website]( [Link to SPI's Twitter Account]() [Link to SPI's LinkedIn Account]() [Link to Pat Flynn's YouTube Account](=) /> = CKSN Bottom Sponsorship Slot--> You are receiving this because you signed up for Pat Flynn’s newsletter at [smartpassiveincome.com](. If you'd like to adjust which emails you receive or update your name and email address, click here: . If you'd like to stop receiving all emails from SPI, click here: . No hard feelings. 10531 4S Commons Drive, Suite 524, San Diego, CA 92127