Why You Need a Business Manager for Your Startup
I’m in the process of onboarding a new business manager for my company. As you may recall, my former business manager and I parted ways earlier this year. It wasn’t anything personal, it’s just that both our businesses had changed and we outgrew each other. It happens.
For the last few months, I haven’t had time to focus on bringing on a new business manager. Between clients work, other projects and travel for a retreat, I knew the timing wasn’t right. I basically had to wait until things slowed down a bit and I had a better direction for where my business was heading.
The retreat I attended certainly helped with that. And now that I’m nearly done with a big project, I can bring on a business manager to help me execute.
What is a business manager?
A business manager is someone who can help you execute on projects and processes for your business. For example, they can be the go-between between you and other team members. They can also set up organization and processes for getting stuff out there.
In my case, I need someone to help me organize the process of getting podcast files into the hands of other team members. I also need a business manager to help create a process for getting the content out there and marketing.
What makes a good business manager?
A good business manager is organized and has strengths where you don’t. For example, I’m the entrepreneur. This means I’m the visionary with the big ideas. It also means I’m the one who is really good at getting the messaging out there.
What I’m not so naturally good at is back end systems. I’m also not good at managing other people because, quite frankly, I’m accustomed to riding solo. I also like riding solo.
I also believe there is a difference between a good business manager and a great business manager. A good business manager pays for themselves. This has been my experience up to this point. However, a great business manager also makes you money.
For example, I’m speaking with a manager now who not only helps with organization but actually goes out there and secures new business as well. In other words, they are organized and they know how to sell. This helps you grow the business even further.
In my case, I definitely need a manager who is as ambitious as I am. I also need them to be super driven by both money and purpose. I feel like this is what’s been missing in the past that now I need to rectify.
Now that we’ve discussed what a business manager is and what they can do for you, we need to go into why you need one.
You can only get so far by yourself.
I don’t know about you, but I have a big mission. I also have big goals and ambitions. Finally, I plan on making a lot of money because that mission needs to be supported financially.
The truth is there is only so much you can do by yourself. That’s because if you’re doing all the things, then you don’t have time focus on the right things that make you more money. I recently had a major realization that I was slipping back into old habits of doing most things myself.
The reality is I should not be doing this. It’s not a good use of my time. Figuring out customer service issues or social media also isn’t a good use of my skillset. It’s just not.
Doing everything yourself also isn’t scalable. The more money you want to make, the more it’s going to cost you. The same applies to the number of people you want to reach. It’s going to cost you money.
Great people make you more money.
Additionally, as I mentioned, great people make you money. In my opinion, this is far better than someone just paying for themselves.
In the case of this new manager, she can seek and secure brand ambassadorships for me. This makes us both a lot of money. It also means I know that’s being taken care of so I can go focus on selling my group coaching program, securing private clients or pitching clients for articles – all of which also make me money.
And by the way, I have an assistant to help with those too. Unless otherwise agreed upon, I rarely do my own follow-ups. Those are completely outsourced and going out on a weekly basis. My team is currently working with about 100 active leads – and that’s just for coaching.
You need to separate yourself from the minutiae of the business.
One of the things that made me realize I needed to bring on a manager was a few moments where I was getting stuck in the minutiae of the business. More specifically, I was finding myself dealing with customer service issues that just aren’t a good use of my time, space or energy – especially when people are rude and wasting my time.
The truth is while I can handle it, I shouldn’t be. Period. My time, mental space and energy need to be on the vision, messaging and moving the business forward. I can also sell like there’s no tomorrow.
The entrepreneur/visionary needs gatekeepers and protectors. The fact of the matter is your energy matters for the success of your business and you cannot waste it with the minutiae.
Things need to be sifted out so you can focus on what matters and what you’re best at. This doesn’t mean answering every email or customer service inquiry. It also doesn’t mean loading things onto your social media scheduler. Other people can do this and free up your time and space.
It’s good karma to invest in people.
I recently interviewed online business expert and fellow Calendar writer, Kayla Sloan, for my podcast. Kayla is an expert at outsourcing, systems and processes. One thing she mentioned during the podcast is how it’s good karma to invest in people.
It’s true. The money you spend investing in people comes back to you. It’s kind of hard to explain, but we both agree there is an energetic exchange that occurs when you invest in people.
Granted, you can look at the numbers and see for yourself. For example, you can see how you invested $3,000 in a consultant and how the information brought you $40,000 in new business. Or you can see how you give 20 percent to an agent but they secure deals worth more money than you could ever negotiate on your own.
But there’s more to it than just that. It’s also the notion that when you do right by people, they will do right by you. Do you get burned sometimes? Yeah, it happens. But it really doesn’t happen as often as you would think. For the most part, people want to succeed and they want you to succeed too.
Additionally, there have been countless times in both our lives where we didn’t know exactly where the money to invest in someone was going to show up, but it came. Not only does the money needed to pay them show up, but more money than was even necessary comes your way.
The bottom line is business owners need help. They can’t do this all on their own and expect to reach their goals. It’s a collective team effort and a business manager is a good place to start.