What I mean by that is.. Slow the fuck down… make sure you can adapt to the increased capacity of work, make sure you can cover the cost of growth and make sure your level of service grows with your income
I would say that advice (and my own stupidness to follow it) was probably the single biggest problem in my early businesses.
Fuck that. Overhead is not a sign of success... Turnover is not a sign of success, I’ve lost count of the people who have “7 figure businesses” and don’t make a penny.
Profit is the only number that matters… Because guess what, if you don’t have it, you’re out of business
Focus (especially in the early stages) on investing in things that bring you a short - mid term return (long term when you can afford to), on things that enhance your business, on growing that buffer of spare cash you can access when the market shifts and you need it.
Schedule it in your calendar every single month to go through your expenses and cut the fat.
Boring as shit, but one of the biggest things I would make my younger self do... In fact, it's so important that I would sit with him and make him do it.
Do it yourself and thank me in 3 years time.Because the higher your overheads, the more aggressively you need to rely on your resources every single month and the bigger the likelihood there is of disaster
As you grow your income, especially in a service-based business, you are forced to grow your overheads… and trust me when I say, overheads are a bitch (especially when they are fixed you have to personally guarantee them)