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How To Build A Team When You Haven’t Got The Income To Support Yourself

How To Build A Team When You Haven’t Got The Income To Support Yourself

It’s frustrating. You spend an eternity at the computer into the wee hours of the morning, and still you never seem to get through a fraction of what you need to do to get your business really rocking. All those hopes and dreams and exciting plans … all pushed to the back burner whilst you try like crazy just to get through your to-do list.

Working in isolation on something, whether it’s your own business, your Plan B or a work project, can be one of the most difficult things to do. Everything is on you. If you get stuck you’re the only one who can deal with it. If you have a mountain of tasks, you just have to settle in and do it all yourself, all the while keeping focused on the big picture, which is very difficult to do.

Frankly, it’s exhausting.

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Time to Do Something Differently

So, you’ve decided you need to get a team around you, which is great in principle, but it’s back to the age-old problem: you haven’t got the money to pay them. Heck, most people in your situation barely have the cash to pay themselves, let alone another person!

You’re not alone in this dilemma.

Like most people with budding projects, you know that if you could just bring in some additional help, you could accomplish several times what you’re already doing. Without the resources, you’re stuck between a rock and a hard place, though.

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There is a way around this, and when you understand a few important principles it all becomes a much easier problem to solve. The first sticking-point you need to tackle is your own ideas about your project and your personal involvement.

I get it. It’s your baby. Your idea. A symbol of everything you stand for, and hopefully also of some reward at the end of the hard work. However, having to control everything to the nth degree is only ever going to perpetuate the bottleneck you’re already experiencing. Shift your perception and constantly remind yourself to hand off input to the individuals you bring in to help you. If you can do this whilst taking overall responsibility for the project, you’ll automatically open up that bottleneck and give people the environment to thrive and over-deliver.

(Note: This also means you’ve got to give up being a perfectionist. Perfectionism and over-control only ever destroy a team’s motivation and consequently the amount of effort they’ll put in. Let it go. The success of your project depends on it.)

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The second shift you need to make is in understanding other people’s motivations.

It’s Not About the Money

When looking to bring new skills into a project, most people assume it’s all about the money. If you only had money, you could persuade someone talented and skilled to come in and help. If you only had the cash, there would be options to shift some of the admin or book-keeping off your plate.

When someone takes a job, they normally do it for the money.

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However, when someone joins a team, they do it for other motivating factors. It fulfills other needs, like the need to be useful, to contribute beyond themselves. People love to be a part of something, and to be around others with similar ideas to them — or even better, to be led by someone with a vision.

When you truly understand other people’s motivations, you realize that you don’t necessarily have to pay people money in order to motivate them to help you. However, this does mean that your vision for your project has to be something more inspiring and meaningful than just paying your own bills. If that’s all it is for you at the moment, get a bigger vision or go and do something else.

OK, so now we understand the two basic components in involving people and taking cash out of the equation, let’s look at some tangible methods you can use to build your team when you’ve barely got the cash to pay yourself…

Finding Good Team Members Without the Price Tag

  1. The first thing you need to do is focus your own talents on what you find easy. This way you’ll remain in flow and passionate about what you’re working on. Your energy will be contagious!
  2. The next thing is to get others involved to do the tasks that aren’t in your natural flow. You can often do this by arranging a skill swap with someone. Say for instance you hate admin: if you can swap the admin with someone who loves doing it, in exchange for helping them with their networking, marketing, or whatever, then you both get to do the things you like whilst simultaneously making progress on your respective projects. This doesn’t work once your business reaches a certain size because each project will require more time and focus, but it’s a great stop-gap whilst you’re getting going.
  3. The biggest drain on project leaders (and therefore the first thing they should get rid of) is administration and book-keeping. If you can afford a small amount of outlay, it is well worth investing it to free up your time. Great value for money can be found when you work with stay-at-home moms, or students, who are happy to do these little jobs for a few hours a week.
  4. The next hurdle people struggle with is bringing in technical help. Again, this can be done very cost effectively by working with computing students, or tech-savvy friends or family members (even if they aren’t IT professionals) with whom you can agree a low retainer for doing things like maintaining your website and email list. The retainer system works really well because the amount of help you need may vary from month to month, but if you’re paying for someone to be involved and help you, they’re more likely to think of themselves as part of your team and go the extra mile. What’s more, you’re more likely to ask for their input about the best way to do things, which helps you make more informed decisions.
  5. Profit sharing is another way to reward people for their involvement. Often side projects take a while to monetize, and so there isn’t the much-needed cash to get things moving in the early days. If your potential team members are open to being involved in return for a cut of the profits as the project comes to fruition, this would be a good arrangement in some cases.
  6. Reaching out to your network is also an excellent way to connect with like-minded people who are willing to get involved in the right project. Reconnect with people you haven’t been in touch with for a while. Post a message on Facebook talking about what you’re looking to do and what you need. Ask people who have lots of connections if they know of someone for a specific task or role. You’ll be surprised at who they can connect you with.

So, there you have it. These are the kinds of things anyone can do at any stage of a project — but they work particularly well when you’re operating on a shoe-string budget. Remember: let go of wanting to control everything. Get a big vision and then focus on fulfilling what others are looking for. You will have people helping you, forming a team in no time … without a massive cash layout.

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Published on December 18, 2018

How to Brand Yourself and Make Your Business Stand Out

How to Brand Yourself and Make Your Business Stand Out

You’ve been in business for years and have finally hit your plateau.

The tactics you’d implemented for your customers aren’t working as they’ve used to. You feel like your business has fallen out of the spotlight and now you’d have to settle for any business you get. It’s how businesses work, right?

The truth is that some brands will fade off the business world–while others will adapt well and continue to grow. You shouldn’t be too hard on yourself for where your business currently stands. After all, you’d kept applying tactics that provided predictable results.

Instead, decide to not settle for average results and spend more time building your brand. To make your business stand out from your competition, you need to be unforgettable. But how can you?

In this article, I’ll cover timeless tactics that have worked for other businesses. If you apply these tactics correctly your competition won’t be able to copy them. Here’s how to brand yourself and make your business stand out:

1. Win Your Audience’s Hearts with Authenticity

The truth has always shined.

Even without the technology we have today, people always had a way of finding out if someone was lying. And, with everyone engaging in social media today, it’s hard to hide from the truth. Yet, this seems to be what many businesses fail to do.

For example, companies like Listerine have been fined for lying.[1] A quick buck today won’t be worth it in the long run. Instead, practice being authentic to your customers and they’ll eventually rely on you.

Allow your customers to buy your products with a money-back guarantee – then deliver on your promise. Be consistent with the content you provide and stay true to your brand.

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For example, if you provide coaching services for entrepreneurs, don’t sponsor irrelevant brands. If you stop caring about your brand’s mission, your audience will notice. They’ll question your integrity with your business and stop trusting your brand.

But if you gain your customer’s trust, you’ll start standing out from your competition. Your customers will feel safe purchasing from you since they’ll know you’re honest.

2. Share a Story No One Will Be Able to Copy

A few decades ago, a brand would’ve gotten away without being unique. That’s because back then starting a business was not accessible to most people. You’d either need enough money to launch your business or have the credentials. And even if you had all these qualifications, you needed to get past the gatekeepers.

Today, technology has disrupted many of the barriers that were present a few decades ago. For example, today a college student can launch a Podcast within a week. He can create a website in a few hours and record a few Podcast episodes. If he’s persistent, he can build a large following overtime and get paid by sponsors.

This is great news for aspiring entrepreneurs but there’s more competition than ever. You can only do so much before other businesses begin to copy you. But what no business can copy is your story.

That’s why you need to share your story with your audience.

For example, if you have a money blog, share how you’ve overcome your financial struggles. If you run a freelance writing business, share how you’ve overcome writer’s block. The more your audience can relate to you the better.

Without a story, your business won’t stand out. And if you copy what’s working for other businesses, you’ll experience short-term success.

Take some time to share your story with the world, your audience will love you more for it.

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3. Stop Reinventing Every Single Thing

“Don’t reinvent the wheel, just realign it.” – Anthony J.D’angelo

You may have heard that being original is the way to stand out. While this is true to an extent, you also shouldn’t be original when something is already working.

For example, if your competition has a successful Podcast in your field, then so can you. Don’t search for better alternatives to a Podcast if it’s already working.

Why?

Because this is a waste of time. Instead, copy what’s already working and make it your own.[2] If your competition has a Podcast, figure out which areas you can improve and tailor it around your brand.

Knowing this you can now spy on your competition and determine which areas you can improve. But, know that it also works the other way around. Others will view your business and copy what’s working for you.

That’s why it’s important to stay true to your brand and be authentic with your audience. When you do, your competition won’t be able to copy your unique traits. Have an abundant mindset and feel confident for what your business has to offer.

4. Shine Because of Your Uniqueness

Stop trying to help the entire world and focus on helping a specific group of people instead.

I get it, you’re willing to help almost everyone because you want to bring in more business. But the truth is that if you resonate with everyone, you resonate with no one.

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Take, for example, a marketing agency that helps businesses promote their product. This business doesn’t speak to anyone but gets occasional sales throughout the year.

But what if there was a similar marketing agency dedicated to helping real estate agents? If there was a real estate agent looking for help in marketing–who do you think they’ll choose? That’s why niching down is necessary if you hope to stand out from your competition.

Determine which customers you enjoy working with the most and determine which customers bring in the most revenue. Once you’ve gathered enough data, focus on servicing your ideal customer.

Don’t expect immediate results since this won’t be an easy transition. If you’re currently helping a narrow audience, slowly transition into a niche audience. Niching down is crucial to building raving fans.

5. Be the Brand Everyone Can Depend On

Being the brand your customers can depend on is important. How many times have you bought a product that’s failed on its promise? Or have settled for an average service?

Exceeding your customer’s expectations is a sure way to make your brand stand out. In the book Influence: The Psychology of Persuasion, studies on human psychology prove that when you give to others, they’ll reciprocate. Offer your customers free consulting, a free ebook, or free quality content. Eventually, they’ll be happy to reciprocate after receiving value from you.

View what your competition is doing and surpass their offers. For example, if your competition offers a free 15-minute consulting call, offer 30 minutes. When you focus on helping others more, your customers will notice.

Make it your mission to serve your customers first and then worry about making a profit. Other ways for your business to be reliable is by inspiring your customers. That’s right, a business isn’t only about selling, it’s also helping customers achieve their goals.

For example, you can write content that will inspire your audience to take action. You can interview guests that will push your audience to break bad habits. Get creative and look for more ways in which your audience can depend on you with.

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The Bottom Line

Imagine serving fewer customers and getting paid more than ever.

Despite the fierce competition, you’ve got fans wanting to buy your products and services. Although this may seem impossible right now, it’s not. If other brands have been able to stand out in a crowded industries, why can’t yours?

The truth is that standing out from your competition isn’t easy. There’s no secret formula that’s available to the rest of the world. The trick is to do what most brands are unwilling to do.

Many businesses don’t want to niche down because this will mean a loss in sales. But that’s sacrificing short-term gains for long-term success. Niching down is necessary to build a brand your customers will love.

Many businesses will spend a lot of money looking for ways to innovate, but won’t apply what’s working. But, not you.

You’ve got what it takes to stand out from your competition. Start slowly and master each principle covered here. Now go and make your business stand out like never before.

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Featured photo credit: rawpixel via unsplash.com

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