How to Cope With the Fear of Growing Ft. DesignCraft Workshop

 

“The challenge is more of a personal thing. How do you deal with the fear of growing? I think that’s a big challenge right now, not knowing what could happen. You’re hiring all these people, you want to grow, but it doesn’t pan out? That fear.”

 

• Bao Loi

 

Building a woodworking business is a multifaceted process. While there is an enormous amount of discussion about topics like sourcing materials, building pieces for clients, and similar concepts, there is not enough conversation about the mental side. Fortunately, Steve has a lot of experience coaching his clients through these hurdles.

 

“It’s good to think through many scenarios in your business. When you think about spending a couple of $1,000 on this tool, how will I make this money back? Or, if I start hiring people, how will I make sure I can afford to keep them on? Part of it is a mindset issue knowing that you are committed as a business owner and as a Woodpreneur.

 

You have the vision of where you want to be. So look at every major decision as a project because when you think of it as a project, you’re not emotionally committed to it as a long-term goal. I like to test things out, like editing, for example. I just hired somebody and said, “I have enough money to pay this person for three months.” 

 

So three months is a test for me, and what this person is going to do for three months will free up another person, and that other person will help me grow the business even more. This person went in knowing that we would do this for three months. If it works out, great, we’ll continue, but if it doesn’t, no love lost. We can part ways and still be cool. That’s how you need to approach the growth of your business.”

 

• Steve Larosiliere

 

 

 

 

Business Ebbs and Flows

 

“Business ebbs and flows. In many of my other businesses in the past, there were times when we were killing it, making tons of money. But then there were moments where we had to tighten our belts, and we had to lay off some people, cut some expenses or move offices. Downsizing an office is one of the most demoralizing things, but you realize that as a business owner, as a Woodpreneur, your number one thing is to do whatever it takes to keep the lights on. 

 

The lights on means your domains are paid, your Instagrams good still up, and your phone is still around. You still have projects, testimonials, and case studies, so people will still know you exist. That’s your number one goal. So whether you fail or succeed, it doesn’t matter. None of it matters. The only thing that matters is keeping the lights on.”

 

• Steve Larosiliere

 

A major part of running a successful business is being present in your current situation. Maintain a certain level of acceptance with where you’re at, but always want more and strive to get more. Failure is not something to fear because you can always mitigate any catastrophe from that failure.

 

 

 

 

Delegating and Upgrading

 

“You need to make a list of all of the things that you don’t want to do in your business. Then start hiring people to do those things. The smartest way is to hire a freelancer and have this person be competent and affordable. Literally, test them out for two months. You can reason it like, ‘Hey, you know what, I got an extra 500 or 1000 bucks. I’m going to test this out.’

 

Figure out what that hire would save me in time to outsource something like editing. Say it’s like 20 hours. What could I do in 20 hours? I could do some more prospecting, create more content, buy more lumber, or run some Facebook, Instagram, or YouTube ads. Ask yourself what you could do with the time you would save from handling those tasks yourself.”

 

• Steve Larosiliere

 

It’s vital to know what your goals are with your business. Some people worry about growing too much because they don’t want to get too busy, but if you’re not busy right now, then don’t worry about becoming too busy. Many people want to feel a certain level of control, but as an entrepreneur and a Woodpreneur, many things will be out of your control. 

 

For example, you can’t worry about how many people view your content, but you can focus on putting out the best content possible. Similarly, you can’t worry about how many email inquiries come in for leads, but you can control how many times you post ads or reach out to potential customers. Focus on what you can control, not what you can’t.

 

Website: https://www.designcraftworkshop.com

 

Instagram: @baoloi_designcraft