How the “DIY Movement” is Keeping Home Business Owners Broke!

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DIY is everywhere you look.

You’ve seen it on TV and Pinterest, in magazines and blogs, and at your local Home Depot…

  • 3 Simple Steps to Tile Your Bathroom in Just 2 Days!
  • Stain Your Own Nightstands For Just $5!
  • Who Needs A Hairdresser? Trim Your Own Bangs Like A Pro In The Comfort Of Your Own Home!

DIY (“Do It Yourself”) is a movement that’s gone viral in the past decade and it’s here to stay.

It’s a mindset shift that’s created a belief that “we can do it all,” and, more importantly, “we can do it all for practically free!”

Here’s the message…

  • We can have the nice shiny new bath tile (without paying thousands)
  • We can create those lookalike nightstands (without remortgaging our home)
  • We can cut our own bangs just like the top hairdressers in Manhattan (without having to spend hundreds of dollars every six weeks)

This DIY mentality is amazing, right?

WRONG!

Especially if you’re a home business owner looking to build a profitable business.

And you are reading this blog today because you want to do just that, correct?

As a business owner, a DIY mentality will cap your growth and keep you stagnant and frustrated.

Here’s why…

Working hard vs. working smart

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Plain and simple, especially if you’re currently building your business part time…

The “DIY Method” will slow you down and basically create another job for you to tackle.

And the last thing I want is for you to create a home business that feels like a job you despise.

A home business is supposed to be about creating freedom.

By doing everything yourself, you aren’t creating more time to do the things you love…

Instead you’re spending even more time working even harder and taking up more of your precious time than ever before.

So shift your mindset to start working smarter instead of harder.

Figure out what your time is worth per hour, so you can become aware of where your time should be spent and what should be delegated to someone else.

Here’s how to do it…

Determining your hourly rate

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Have you ever asked yourself, “How much is my time truly worth?”

If not, it’s time to find out right now.

When I determined my hourly rate, it helped me identify which tasks were worth my time and which tasks I needed to get someone else to do for me.

For example, let’s say you want to make $100,000 in the next 12 months.

Obviously when you own your own business, your income and the time you have available to focus on your business will fluctuate, but let’s keep it simple.

Here’s how to determine your hourly rate for an income of $100,000:

  • $100,000 divided by 12 months = $8,333 per month
  • $8,333 per month divided by 30 days = $278 dollars per day
  • $278 dollars per day divided by 4 hour work day = $69.50 per hour

If you want to make $100,000 one year from now and you have 4 hours to spend each day on your business, then your hourly rate is $69.50 per hour.

Now that you’ve determined your hourly rate, it’s time to define what tasks you should be taking action on and which tasks you should shop out to someone else.

Identify the tasks that deserve your time

Your job as a business owner is to identify all tasks that will help you produce more income for your business.

I like to break down tasks into these three groups:

  • High-value activities: tasks that produce the highest level of profit ($500 tasks)
  • Mid-value activities: tasks that produce a moderate level of profit ($75 tasks)
  • Low-value activities: tasks that produce the lowest level of profit ($10 tasks)

Let’s take a look at specific examples from each group…

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These are $500 tasks:

  • Product creation
  • Traffic and lead generation
  • Creating new automated funnels
  • Creating video sales setters
  • Applying a skill set learned from a training course
  • Coaching clients
  • Hosting sales webinars
  • Speaking at events
  • Creating a new email autoresponder series
  • Writing copy for a new sales page

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These are $75 tasks:

  • Content creation
  • Taking a course to learn a new skill set
  • Blog posts
  • Closing new clients
  • Email broadcast to your list
  • Calling leads
  • Setting up webinar slides and content
  • Website creation
  • Creating sales pages
  • Creating new capture pages

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These are $10 dollar tasks:

  • Creating cover pages for PDFs
  • Making eBooks
  • Editing videos
  • Editing images for Facebook and Instagram posts
  • Responding to posts on Facebook
  • Posting on Facebook
  • Answering customer service emails
  • Sending out a welcome email to new customers
  • Uploading videos to YouTube and Facebook
  • Processing refunds
  • Canceling memberships

Look at these tasks and ask yourself where you spend the majority of your time right now.

I’d be willing to say that most entrepreneurs get sucked into the $10 dollar tasks more often than they focus on the $75 and $500 tasks.

Remember, it’s okay to admit that you can’t do it all yourself, especially if you want to scale your business to 6-figures and beyond.

So how do you take some of those $10 tasks off your hands?

Repeat after me…

Outsourcing!

Useful sites for outsourcing

Especially if you’re “technologically challenged,” just like me, outsourcing will become your new best friend.

Here’s the rule I follow:

Focus on your strengths and gradually outsource the rest.

Here are some of the sites we’ve had the best experiences with when it comes to handing off tasks that fall under our determined hourly rate.

  • Upwork – Great for finding website developers, customer service reps, social media managers, video editors, etc.
  • Fiverr – For video editing, creating logos, creating professional cover photos, making eBooks, etc.
  • 99Designs or DesignCrowd – For logos, cover pages for eBooks or PDFs, etc.
  • Referrals – If you have business friends that are outsourcing, ask for recommendations about who they use! You’d be amazed how many people are willing to help.

There are many wonderful and inexpensive service providers out there, hungry for work.

Words of wisdom from falling down the “DIY rabbit hole” too many times…

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Look, everything is a process.

So don’t expect to delegate and outsource everything tomorrow.

I actually encourage you to do everything at least once, especially the tasks you plan to outsource in the future.

That way, when you’re ready to outsource, you’ll have a good idea of the process and the time it takes to complete that task.

You might even need to train your outsourcer in how you’d like a particular task done (especially if you’re hiring someone to help with your inbox, for instance).

No matter what, remind yourself every day that your time is precious.

It’s a finite resource and therefore…

Your time is extremely valuable!

So focus on what you do best and gradually outsource the rest!

What’s the ONE thing you can’t outsource?

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Traffic generation!

This is non-negotiable, I’m afraid.

Unless your business is well-established and you can afford a hefty monthly retainer to hire an expert, then this responsibility falls squarely on your shoulders.

So if you’re just starting out…

Know that the first and ONLY skill you truly need to master is the ability to generate targeted clicks to your offers and leads in your list.

At first, it can feel daunting.

After all, to purchase traffic, you’ve got to spend your hard-earned money with no guaranteed return.

But with that said…

You can get started for as little as $10

In fact, with just $10 and 10 minutes a day, you can create an entire “traffic ecosystem” that self-perpetuates, generates it’s own momentum, and becomes increasingly effective and profitable with each additional dollar you invest.

Interested in learning more?

Well, get registered for this 100% FREE traffic workshop hosted by none other than my friend Tim Erway, CEO of Elite Marketing Pro.

You’ll see a case study of how a $10 test campaign turned into $141,246.30 in sales.

And in fact…

Tim reveals the exact strategy I’ve used to generate over 75,000 leads and earn $850,281 online, over the past two and a half years.

So if you haven’t registered yet, what are you waiting for?

Just pick a time that works for you to attend Tim’s traffic workshop right here.

 

Kate McShea
Super Affiliate & Traffic Consultant
Elite Marketing Pro

 

Kate McShea

Kate's a previous Second Grade Teacher turned entrepreneur. After leaving her teaching career and failing in her business for her first 12 months, Kate and her husband Andrew went from sitting front row at the No Excuses Summit in 2013 to generating a 6 figure income in less than 12 months and being asked to speak on stage the following year. Kate is now a sought-after speaker and trainer on the topic of online lead generation, video marketing, and closing autopilot sales.

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