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Why Busy Doesn’t Equal Profit feat. RJ Grimshaw

ask the expert business strategy May 12, 2022

How one simple commitment can help you scale your business.

Most early-stage business owners idealize being busy. We automatically assume that busy means profitable, but RJ Grimshaw, CEO and President of UniFi Equipment Finance (a $100m company), shares how one simple commitment can take you away from being busy and increase profits.

Website: https://rjgrimshaw.com/ 

Instagram: https://www.instagram.com/rj_grimshaw/ 

Facebook: https://www.facebook.com/rj.grimshaw  

LinkedIn: https://www.linkedin.com/in/rjgrimshaw/ 

YouTube: https://www.youtube.com/user/rjgsti/videos


 

Mickey: What is the one thing business owners can do to make scaling faster and easier without the hustle and burnout?

 

RJ: The definition of insanity is doing the same thing over and over again and hoping for different results. The first thing you have to do is ask yourself what you’re doing that isn’t working. Start being disciplined and working that discipline muscle of working on the business, even if it's one little thing or a couple of different things. Busy-ness doesn't pay is not going to generate the revenue that you need. I'm not saying it's easy, It's hard.

If you really desire to grow your business and be a business owner, you need to work on your business and not in it. There's nothing wrong if you don't want that; you'll just have bought yourself a job.

Scaling Is Also An Exit Strategy

Now, this is where it's really going to hit you between the eyes. When you try to sell the company and think it should be worth so much. You’ll go to brokers or things of that nature, and realize people will not buy. And if they do, it probably isn't going to be what you expected from a sales price perspective. 

If your ambition is to build a business, slow down and take a deep breath. We've all been there, and we’ll probably be there again. You have to take a break, step back and work on the business.

You're Not Going To Scale Overnight

You don't go to the gym one time, and suddenly, you're buff. You're working out over and over and over again, and then it becomes natural. For example, you need to commit and say, for example, “Tuesday mornings between eight and 10, I'm going to a coffee house to work.” Go wherever you do your best thinking and turn off everything. Turn off your phone, no dings. Then you'll see that muscle build and pick-up momentum. 

Revenue-Generating First

Start by knocking off the revenue-generating activities first, so you're fresh because those are the most important. Then work yourself down because there is a lot of paperwork. Many business owners don't realize how many tax forms and things will need to be filed. That's just the nature of the world we live in today from a compliance perspective and things of that nature. Ultimately, part of your KPIs and your three-year vision should be that you outsource that part of the business to really focus on the revenue-generating.


 

When you start our business as a service provider, you spend most of your time serving clients. You must dedicate time each week to working on your business instead of in it. Start practicing discipline and commit time to grow your business from the start. 

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