The Path From $3M to $6M
When I first became a Director of the consultancy that we would later go on to grow to $30M.
We were doing about $3M per year.
There were 4 x Directors - and we were doing everything in the business.
Strategy, running projects, client meetings, invoicing, admin, board meetings, chasing overdue payments.
Everything.
We had team, but no one in roles designed to take work off our plates.
We wanted to grow - but we were drowning.
We very quickly realised that we had built a business that completely relied on us.
And it didn’t feel great.
So we got strategic and mapped out the org chart that would take us to $6M.
We mapped out our roles and what we wanted to be doing to be running a $6M business.
And we mapped out the roles that we needed others to take off our plate.
We started with admin - that was the quickest win.
Then we elevated from within or hired externally and started the process of building a really competent leadership team.
The 4 x Directors each took over certain areas of the business.
So rather than all of us being across every aspect of the business, we could divide and conquer.
A merger opportunity also presented itself and within 2 years we were at $6M.
The lesson - you can’t and shouldn’t be doing everything.
If you’re not growing or not running the business you want to be.
It’s not about doing more - it’s about removing or delegating parts of your role.
So you can focus on the high value activities that will actually make the biggest difference.
It’s about doing less - but better.
And if you’d like some help with building and running a really great business.
I’m running an online workshop next week on Wednesday the 4th of September called “The Profitable Consultant”.
In this workshop I’ll be walking you through the exact process to follow to run a more efficient business, to hit consistent 30% net profit margins and to set yourself up for growth.
Tickets are $100 and are limited to 10 ppl (I’m keeping the group small because I want to focus directly on you and your business).
Tickets are moving fast - we only have 4 x spots left.
Follow this link to grab your ticket now >> Click Here
See you there!
To your success,
Josh
PS: If you’re interested, here are 4 ways I can help you right now:
- Download our free training “Win More Work” designed to help you increase revenue, build your pipeline with confidence & access the strategies that have helped our Boardroom members generate an additional $2,507,233 into their consultancies – Click Here to download now
- Download our free Business Plan template that will help you build out your 12 Month Business Plan & allow you to build your business in a consistent and step by step manner – Click Here to download now
- Book a 15-minute Business Growth Call. A short, no-obligation catch up where we can touch base and really look at where you are now, where you want to be, and then build a personalised plan together for how to get you there – Click Here
- Join us! We run a thriving community and training group for engineering consultancy business owners. In 2023, our members on average grew their revenue by 46%. If you'd like the same results or better - just send me an email at [email protected] with the word “PROGRAM” and I’ll get you some more information.
