Burned Out and Broke

Many entrepreneurs are staggering out of busy season feeling exhausted, dizzy, and overwhelmed. They’ve just poured every last ounce of themselves into their business and their clients and now they are wondering what to do next. Some begin to question their career altogether and wonder if this is even worth it. They are feeling burned out and broke. Remaining a solopreneur in the small business world is full of many hidden risks that people aren’t talking about. Today we will unpack those risks! So grab your free Ultimate Guide, sit back, and relax because we have got you! 

Entrepreneurs worry that building a team will be a huge risk for their business. They stress over the idea that it will cost them money, take away their time, and drain them of their energy that could be best allocated to their business. What they fail to realize, is that there is a world far beneath the surface of those fears that can resolve their issues of being burned out and broke.

Feeling Broke

The fear that building a team will cost money is one of the biggest reservations that entrepreneurs experience. We hear them say, “But I can’t hire someone full time” or “Who would want to work for me?” or “What if I can’t make payroll and it is a huge failure?” What they don’t see is that there are many different types of (cost effective) workers that don’t need to all be a 9-5 full time position. They can hire independent contractors or part time employees (yes people are out there that are seeking that position and thrilled to fill it!) So why would you hire someone?

If you don’t build a team, you are the earning ceiling. You have to execute 100% of the client work – and you become the lid. This means you only get paid when you work. If you choose to take time off, you won’t get paid. When you get sick, you won’t see a paycheck. Should you need to take time off to help your children or attend a school event…you guessed it. No money! So why would we allow ourselves to sit in that feeling of constantly needing to work because we have to work or we will be broke? A team alleviates that stress and anxiety and takes away those feelings of being burned out. 

Finally and most importantly – think of all the times you have turned away business when you were personally booked. If you are a solopreneur, you can only say yes to the work you can execute alone. This means you are passing on valuable (and money making) opportunities that could otherwise be executed by a team member. A team would allow you to multiply your time and your income really fast!

Feeling Burned Out

If you are feeling burned out because everything is on your shoulders it is because it IS all on your shoulders. If your CRM fails, it is on you. When a client needs additional support, it is on you. Should a venue falls through, guess who is taking that call? You guessed it, YOU! Everything is on your shoulders all day, every day and that can be incredibly exhausting which leads to burn out. Having others to carry that weight with you is huge and can make an incredible difference in your business and most importantly, your mental health. But what if I can’t see myself as a boss?

Solopreneurs that are burned out and broke fear that they won’t be a good leader and hate the idea of being a “boss.” We are here to remind you that leadership is a SKILL that is LEARNED. You can learn how to be a great leader and lead your team!! HINT HINT…we can help coach you on this!! With a team behind you, you can free yourself up to have the creative energy you once had to dream bigger for your business! Ok, you are interested, but what about the time you ask?

Your Precious Time

Entrepreneurs that are burned out and broke fear the idea of building a team because it will take time. Time is a scary thing to give away because there is already so few of it in their lives. The truth, however, is that by investing time upfront to build a team, there will be more time in the future for space, less work, and more income. A team can begin to take the load off your shoulders so that you can spend less time working and feeling burned out and more time leading and feeling fulfilled. The harsh reality is that…if you want to make more money but work less, a team is the answer. So where do you go from here?

Next Steps

Our Building Your Team Intensive can help support you through this huge shift! In 12 weeks we will coach you on your mindset, financial tools, building SOPs, hiring, training, and so much more! You will walk away knowing that your days of feeling burned out and broke are numbered!! We coach you live to answer your questions, tailor the curriculum to your specific needs, and walk through the big steps together. You will feel confident knowing that you can take your business to the next level while pursuing the life you have always dreamt of! We know it is possible and we want it for you! Learn more here

Need more?

If you are looking to hire but feeling overwhelmed, grab our Complete Guide to Hiring! ​​Our Complete Guide to Hiring is a 33-page resource with everything you need to get started hiring! Gain access to a worksheets to get you started, a guide with samples on how to write your description, additional places to post your job, vetting tools, interview questions, and 5 templates (including an offer letter!) that are ready for you to take and implement right away!  

Still have questions?

We know that there is a lot to sift through when determining what is best as you are building your team! If you are finding yourself with more questions than answers, please reach out to The Abundance Group! You can find us on Instagram @theabundancegroup

People also ask...

  1. What are the different kinds of workers I could hire? Check out our blog on independent contractors vs. employees?
  2. How do I know if I am ready to build a team? Check out our blog to uncover the answer!
  3. What questions do I ask when hiring someone to work for me? We’ve got you! Check out our favorites here
  4. How do I avoid being a bad boss? The answer is a lot less complex than you think! 
  5. What are the common mistakes of building a team? There are 5! Let us save you from making the same mistakes! 

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