Grow your business with only 15 hours a week

Can I really grow a business with only 15 hours a week?  It seems every week I'm asked about that question – and the answer is a resounding Yes!  But you have to devote time to each of four critical areas.  Otherwise you may just learn more but never really develop a “business.”  Or you may create a “job” for yourself without ever getting closer to having a business.  In this episode I explain the four areas that need attention and give you a formula for how many hours to spend in each area with those 15 hours.

  1. I have a 7&8 year-old that also need resets from time to time and I've been struggling to find positive audio that's understandable for them at this age.
  2. In working with my wife I have learned that she is the dreamer and I am the “realist.”
  3. I made out a list of 30-40 business ideas, what's the process for narrowing those down and ultimately landing on one to pursue?
  4. Can I really grow a business with only 15 hours a week?

“Listen to your wife's dreams – because if you don't, someone else will.”  Rob Lowe – host of the Giving Back Podcast [Tweet This]

Show Notes:

Episode – 02-03-17

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Summary:

In this episode, Dan Miller explains how you can Grow Your Business with only 15 hours a week as he shares the top 4 things you have to do to make that happen. He also reminds us of the difference between working IN your business as opposed to ON your business when it comes to growing a business that makes money even when you’re not around. Listen to success stories and questions about pursuing the one idea you truly believe in.

Sponsored By:

Go to audible.com/48Days and get a free audio of The Millionaire Real Estate Agent: It's Not About the Money…It's About Being the Best You Can Be!

 

FreshBooks is offering a 30 day, unrestricted free trial to my listeners. To claim it, just go to https://www.freshbooks.com/48days   

 

Time Stamped Show Notes:

  • 01:27 – Preview of Today’s Show on Grow your business with only 15 hours a week
    • I have a 7&8 year-old that also need resets from time to time and I've been struggling to find positive audio that's understandable for them at this age.
    • In working with my wife I have learned that she is the dreamer and I am the “realist.”
    • I made out a list of 30-40 business ideas, what's the process for narrowing those down and ultimately landing on one to pursue?
    • Can I really grow a business with only 15 hours a week?
    • “Listen to your wife's dreams – because if you don't, someone else will.” Rob Lowe – host of the Giving Back Podcast
  • 03:15 – Dan mentions how Super Bowl Fox is charging $5M per 30-second commercial slot
    • 03:51 – 10 years ago, the price was $2.5M
    • 04:00 – Craft Heinz will not have ads in the Super Bowl this year, but will give their salaried employees a day off after Sunday Super Bowl
  • 05:23 – FreshBooks is offering a 30 day, unrestricted free trial to my listeners. To claim it, just go to https://www.freshbooks.com/48days
  • 06:38 – Dan talks about goals for the year
    • 06:56 – Did you achieve 1/12 of your goals for the year?
    • 07:08 – It came back to Dan that he didn’t meet his 1/12 goal
    • 07:13 – They talked this over in his mastermind
    • 07:16 – Michael McGreevy shared a “weekly wrap up” that worked for himself
    • 07:28 – 4 Questions: obstacles faced, successes and main cause, I’m thankful for, and what I learned
    • 07:44 – This was posted in the new 48 Days Eagles site
  • 08:14 – Josh asks, Do you know someone who excels in communication skills and offers a podcast centering on effective communications as a topic of discussion?
  • 08:48 – Brent says, I have a 7&8 year-old that also need resets from time to time and I've been struggling to find positive audio that's understandable for them at this age
    • 09:07 – Dan recommends listening to Zig Ziglar because his materials are timeless
    • 09:33 – Go to com/48Days and get a free audio of Zig Ziglar's See You at the Top!
    • 10:28 – Dan plays a clip from Zig Ziglar’s Flea Training
    • 12:20 – “You are susceptible to the negative influence of other people”
    • 12:50 – Dan mentions Zig’s story about the pump
    • 14:15 – Dan tells the story of The Balloon Salesman
  • 16:01 – Jonathan says, In working with my wife I have learned that she is the dreamer and I am the “realist”
    • 16:18 – They’re selling cards to give to others with a positive, encouraging, word of love
    • 16:27 – They want to promote the simplicity of spreading love and some of the proceeds will support Water for Africa
    • 16:44 – Jonathan seeks for feedback
    • 16:53 – Their website is Loves Proclamation – Dan asks you, the listeners, to share your ideas on the website
    • 17:34 – As much as Dan loves the idea, he would amazed if they could make the business a money-making venture
    • 18:12 – Dan thinks it would be a hard to turn the business around
    • 18:32 – Dan recalls last week’s episode with John Lee Dumas’ The Mastery Journal and his pledge to Pencils of Promise
    • 19:18 – “You have to have something that stands alone as a business before you decide whatever it is that you want to do with the profits”
  • 19:37 – Craig says, I made out a list of 30-40 business ideas, what's the process for narrowing those down and ultimately landing on one to pursue?
    • 19:55 – It’s a lot easier starting with a ton of ideas and narrowing it down than having just one idea you can’t let go of
    • 20:08 – Use a filter based on what you know about yourself
    • 20:14 – 85% of choosing which idea to pursue comes from knowing your skills, your personality, and values, dreams and passions
    • 20:50 – Does the idea fit you?
    • 21:00 – Dan gives examples of businesses you can do
  • 22:12 – Donna says, “Once I saw here 3 particular resources that I can’t locate again (jobs for kids, buying & selling books, and list of work created by the community)”
  • 25:40 – Andrew says, “I’m wanting to start a business where I’m selling unique backyard playhouses”
    • 26:02 – Andrew is asking for a game plan to get this started
    • 27:25 – Have one playhouse on display
    • 28:08 – Have one permanently displayed on a heavily trafficked road
    • 28:56 – It’s the same as sports cars
    • 29:07 – Talk to people to have your playhouse displayed – you need visibility
    • 29:40 – Dan talks about his distant cousin who sells arbors
    • 30:14 – Andrew also has the option to sell plans rather than doing the construction himself
  • 32:04 – Susan asks, “Do you have any advice or encouragement for stay-at-home-moms like me?”
    • 32:41 – Susan wants to keep her family #1
    • 32:58 – “You have to have some margin in your life”
    • 33:24 You have to find 10-15 hours per week
    • 35:00 – You can make massive progress in 3-6 months with 15 hours per week IF you invest those hours in 4 areas: 3 hours reading/studying, 5 hours creating content, 4 hours working with clients, 3 hours marketing effort
    • 36:19 – “People get trapped into thinking that learning new knowledge is building a business”
    • 37:00 – Another trap is just working with clients or customers
    • 39:06 – If you spend too much time with your customers, you might find yourself starting over again
    • 39:28 – Having a business implies money comes in even if you’re not there
    • 39:39 – Dan tells us about Rich Dad, Poor Dad by Robert Kiyosaki that talks about 4 quadrants
    • 42:04 – Working in the business vs. working on the business
    • 42:36 – It’s important to understand how to do business
    • 43:43 – Have something on the side
  • 44:03 – To ask Dan a question for the podcast – AskDan
  • 45:05 – Innovate – May 11-12, 2017
  • 45:43 – Coaching with Excellence – May 25-26, August 31-Sept 1, 2017
  • 45:47 – The new 48 Days Eagles site – This is the best place for moving your career forward
  • 46:30 – Dan closes today’s podcast

3 Key Points:

  1. Check into your goals from time-to-time and measure your own progress.
  2. Have a solid business, first, before you think about what you want to do with the profits.
  3. Understand the difference between working IN a business and working ON a business and move towards the latter.

 

Resources Mentioned:

Credits:

  • Show Notes provided by Mallard Creatives

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