Do You Need to Simplify and Do Identity Work to Grow Your Business?
In this video, Matt reacts to the idea that business owners should simplify their work to only do revenue-building tasks and practice identity work to manifest their business growth. Matt has something different to say as a business owner and entrepreneur of over 20+ years. Watch to see how Matt questions this.
There are tons of people out on social media giving business advice. Some of it is good advice, but most of it isn’t good. In this series watch CapForge’s owner react to different advice videos. He’s an expert in all things business and has 20+ years of experience under his belt. Some of the things he reacts to might even surprise you!
Video Transcript:
Business Advice Video:
Listen when you get to the point in your business where you’re already making 5, 10, 20, 30k months and you really wanna jump to those 50 -100k months. At that point it has nothing to do with strategy and everything to do with simplifying and identity work. Let me explain you wanna simplify your business. Get real with yourself on what’s actually making you money. So getting really clear on what are the three things that bring you the most amount of money into your business, and doing those things for the majority of your time, and outsourcing everything else. No. 2 It’s identity work about who you surround yourself with. How you talk to people. How you carry yourself. And what identity are you taking on? Because you who makes $100,000 a month looks very different than you today. Like your habits are gonna be really different. So you better start taking on the habits of 100K month you now if you wanna become her or him.
Matt’s Review:
Okay, so I thought she said three things, that sounded like two to me. Unless somehow a third one crept in there that I didn’t catch. So first tip, simplify your business. I mean, always you should go with the goal of not adding complexity that doesn’t need to be there. So I mean, that’s generally speaking, a good idea is to run the business in a way that’s most efficient, least amount of wasted effort. But, you know, her saying you spend time doing stuff that doesn’t make you money. Well, that’s kind of running a business though. There’s a lot of stuff you have to do. You have to do payroll. You have to, you know, worry about taxes. You have to do admin stuff to just have the business function. And if you forget about that stuff, you start to get behind, you get in trouble, you get into problem areas. So there are things that you’re gonna do throughout the day that don’t make you money, that have to get done. Now as you get bigger, yes, you can start outsourcing. That doesn’t mean you have to stop, you can stop paying attention to it. But most of the work can be done by somebody else when that makes sense for the business to afford. So I guess I agree with her in general, but I think she was oversimplifying her simplification strategy. And making it sound like you could just spend all your time doing revenue-producing activities which I don’t think is realistic for any business. and then the second part though, identifying people, or identifying what you would look like when you make 100,000 a month cause you’re gonna look totally different. Well, I mean I don’t know if I agree with that. I think I look pretty much the same as I did when I started when I made 5,000 a month, 10,000 a month, 100,000 a month. I didn’t drastically change anything other than serving more customers, doing more of the same that I’d already been doing that have been working for me. But I didn’t have to radically change myself or what I did I just had to scale up and do it for more people. So I’m not sure I agree with that second part at all. I don’t think you have to look different. If you got lucky getting to 5 or 10,000 a month, then yes. Having systems in place, being organized, understanding what’s working for you and what’s not is important, but doesn’t make you a different person. You’re not gonna look radically different. Just start planning to be bigger and scale more and your business will follow suit.
