Technology can be a powerful tool in aiding this , but it ’ s also one of the biggest distractions pulling entrepreneurs away from their goals and making money . Between tweets , answering Facebook messages , and learning about the news in the world around them , entrepreneurs are not immune to getting swallowed up in the time-suck that is social media and technology . Whenever a business is failing , an audit of their time can often pinpoint the lack of time management skills and an abundance of distractions as the biggest inhibitor of their success , according to O ’ Leary .
“ They ’ ll do something that has nothing to do with making money , and the reason you go to work in the morning is to make money ,” O ’ Leary explains . “ All the wonderful things you can do with your time are about making an income for yourself and your family , so why waste all your valuable time on the crap ?”
When used correctly , social media and technology become so much more than “ crap .” For the past two years , O ’ Leary has partnered with a social media manager and expert to build his digital connection , grow his brand , and position himself as an Instagram , Facebook , and social media influencer . Through this growth , O ’ Leary has discovered that social media isn ’ t a waste when it ’ s harnessed for its full potential .
Equipped with the proper tools and team to make social media his ally , O ’ Leary continues to deploy this valuable gem . One of his invested businesses , Wicked Good Cupcakes , recently celebrated the sale of its one millionth cupcake , and to celebrate , O ’ Leary ’ s team shot a beautiful promotional video and pushed it out on all of their business ’ s digital platforms . O ’ Leary and his team understood that consumers who are buying greeting cards and registering for honeymoon funds might care about quality baked goods from Wicked Good Cupcakes . The wedding industry is a billion-dollar industry , after all .
O ’ Leary quickly learned that power in this digital age doesn ’ t come just from viral memes and heartwarming dog stories . It can be found in the hard work done by entrepreneurs and their teams to create and push products that consumers need and crave . It ’ s all about seizing the opportunity to grow and running with it , regardless of what the norm may be . Your business is your book . You get to write it .
Taking Advantage Of The Chaos
Many entrepreneurs start with an idea . They found a problem , and they discovered the solution to that problem . They pour their heart , time , money , and energy into cultivating this solution into a tangible product for others facing a similar problem . Anyone with grit , determination , and a real , viable solution can do it . You just need someone who ’ s going to listen .
“ I take meetings with people who can solve problems for me ,” O ’ Leary said . “ It ’ s either you ’ re saving me money or you ’ re making me money . Everything else , I don ' t want to hear from it .” Growing and pushing your business to the $ 1-million or the $ 5-million mark is easy , O ’ Leary told us . When you solve that problem or find a way to keep making money , you ’ ll have the attention you need to make your business hit $ 5 million . It ’ s growing past this mark that takes serious strategizing and understanding of who you are as a business owner and CEO . O ’ Leary is adamant that you can ’ t be weak about it . Your weakness equates to weak sales , and sales are the foundation of any successful business .
To grow past that $ 5-million mark , you have to ask yourself if you ’ re truly the leader you need to be . Can you make those tough decisions ? Do you need someone else to step in and lead while you work silently in the background ? Do you need to adjust your sales management ? Are your marketing and sales connected ? Are you wasting time on soft , poor leads ?
For years , O ’ Leary was making the mistake many entrepreneurs continually make . His sales staff made money every time the company acquired a new customer . They latched onto hot leads and sold with the possibility of an incentive hanging over their heads . Meanwhile , his marketing team threw everything they possibly could at the wall . They threw their net out to the radio , TV , print marketing , and digital advertisements . If it was the next thing in marketing , they were pushing it , regardless if it worked or not . Leads were stagnant . Sales were down , despite the value of his salespeople . The company was hitting a ceiling with no sign of escaping the multimillion-dollar cap they found themselves hovering around .
Instead of accepting that as the norm , O ’ Leary shifted focus . If the salespeople were rewarded for every sale the company made and motivated to plug more customers into the business for the monetary incentive , wouldn ’ t the same rule apply to the marketing team ? The results were staggering . “ They make less money doing crappy activities and make a lot more figuring out what works , and all of a sudden , bingo ,” O ’ Leary explained . “ We ’ re doing a lot more of what ’ s working and less of what isn ’ t . [ The marketing team is ] making more money , and our enterprise value has doubled — just by tweaking the role . When we find something that works , we pour gasoline on it in the form of money , but that wasn ' t happening until I compensated the marketing people for that .”
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