347. The Mindset of a Million-Dollar Product Boss

One mistake people often make is thinking it all comes down to strategy, when, really, the most important thing is mindset. It can seem daunting or overwhelming to change how you think about running your business as it grows, but these kinds of shifts are critical to being able to scale your success. 

Chances are, if you run your own business, you’re a visionary. You have lots of ideas, you spend lots of time thinking about the future, and you dream really big. But the bigger your company grows, the harder it becomes to find the space to live the life you want and avoid burnout. 

Sometimes, you might feel like you have complete clarity, but other times, you feel like a chicken flailing around with its head cut off. That burnout comes from not allowing yourself to be the visionary that you are.

That’s why we’re going to spend some time exploring what separates six and seven-figure product boss mindsets from the rest. Make sure to listen to this episode even if your business makes less than that. It never hurts to hear how other people approach their companies, and it might be good practice for when you’re making that income yourself!

For starters, one common trap people fall into as their business grows is not knowing when to stop wearing all the hats. When you start a company, you’re doing everything, or almost everything, yourself. It takes a lot of mental readjustment to get used to the idea of hiring people to do work for you, trusting them to do it to your standards, and even giving yourself permission to step back and focus on other things. But it’s an important step to take because, newsflash, you – the boss of your company – could be the bottleneck! 

You’ve earned the ability to pick what you want to do in your company, so pick! You might want to stop going into your store, you might want to hand off your social media accounts, or you might want to step back from production. Great! Now it’s time to hire people to make that a reality.

Remember that you’re not always going to be hiring for a helping hand. At some point, you’re going to need to start attracting leaders who can make decisions and keep things running for you. You’re a decision maker; not a doer, but that doesn’t mean that you have to make every decision yourself. There’s no limit to how much you can grow. Listen to this episode to find out exactly how. 

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Resources:

• Product Biz Owners at $250k+ yearly revenue: Are you a product business owner that has built your business to a multi-6 figure to multi-million dollar business? If so, sign up here for our FREE live training, The Proven Path to a Million Dollar Product-Based Business, where we will discuss the 3 stages of business to grow and level up to a profitable million dollar business that works for you. The Product Boss Mastermind has limited spots available that are open for consideration to applicants $250k and above, apply here.
• Consistent content is key to getting more people to see and buy your products. If you want to create great content but you don’t know what to say, or you feel too busy, or you just don’t want to be the face of your brand, no worries – because we’ve got you covered with a year’s worth of consistent content that’s sure to resonate with your audience! If you want to see how easy this can be, visit A Year of Content.
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Connect:

• Website: theproductboss.com
• Instagram: @theproductboss