165: How I escaped the time-for-money trap after 10 years in business

In this episode, I'm sharing the biggest lesson I've learned from 10 years in business and why it completely changed the way I think about growth, freedom and success.

When I started my business, I wanted more flexibility, more control over my time and the freedom to be there for the moments that mattered most but as my business grew, I found myself trapped in a cycle where everything depended on me.

I share how I became the bottleneck in my own business, why being busy isn't the same as being free and the shift that helped me start building a business that could generate income without relying on me every minute of every day.

I also explain why this lesson inspired me to create the Online Business Growth Summit and how I hope it will help other entrepreneurs discover new ways to build scalable income, create more flexibility and design a business that truly supports the life they want to live.

If you've ever felt like your business can't function without you, this episode is a reminder that there is another way because your business should support your lifestyle (not the other way around!).

Grab a cuppa, get comfortable and let's dive into this episode!

Jon the Online Business Growth Summit Waitlist

https://link.sellyourbrillianceonline.com/summit-waitlist

Transcript

Karen [00:00:00]:
Hello, and welcome to Online Business Uncovered. This is episode 165. And in today's episode, I'm going to be sharing the biggest lesson that I've learned from 10 years in business and how it inspired me to create the Online Business Growth Summit. So let's jump right in and let's get started. Hello, and welcome to another episode of Online Business Uncovered. I'm your host, Karen. I really do appreciate you hitting that play button to listen to today's episode. Today's episode is going to be something a little more personal because this July, I'm going to be celebrating 10 years in business, which is crazy to me because it feels like I only really started yesterday.

Karen [00:00:56]:
And if you told me 10 years ago that I would be standing here recording a podcast all about my 10th business anniversary, I would not have believed you. Now, over the past decade, I've experienced the highs, the lows, the lessons, the mistakes, and of course, the breakthroughs that come with building a business. And as I prepare to celebrate this milestone, I've been reflecting on what I've learned along the way. And one lesson I think that stands out above all the others is the lesson that has really inspired me to create the Online Business Growth Summit that is happening this October. And so today, I wanted to really dive into that lesson and share it with you and explain why I believe that it's such an important conversation to have right now. Now, when I started my business 10 years ago, my eldest daughter, who is 14, was just about to start school. And at the time, I was working four days a week at a design agency in Kent. And whilst I enjoyed the work that I was doing, I was a graphic designer.

Karen [00:02:15]:
I also knew that I wanted something different. Now, my husband and I, we've been together nearly 30 years. Next year, we're going to be celebrating. Celebrating our 30th anniversary. We've been married 20 years next year. We didn't have our children until we were together 15 years. We spent our 20s enjoying ourselves and kind of building the foundations so that when we did have our children, we were ready for them. And so working at a design agency, it required me to miss out on sort of key moments with my daughter or my daughters, because I had, at the time, my youngest daughter.

Karen [00:03:04]:
There's 22 months difference. So my youngest daughter was, I think she must have been just over two. And obviously my eldest daughter was four. And I was just really aware that I was missing out on things. And as my eldest daughter was starting school, I just didn't really Want to compromise that missing out on school plays or sports days or show and tell moments, and those moments actually that are really important. So I made the decision that I was going to leave my job, my career, and I was going to start my business because I wanted freedom to be there at the end of the day. I wanted more flexibility, and I wanted more control over my time. What I didn't want was to have to ask permission to go to my daughter's school play or to attend her sports day or to be able to go and see her work because they were doing a show and tell.

Karen [00:04:17]:
I wanted that to be given. I felt like I. I had earned the right to be there with my children. And I also recognized that the only way I was going to really have that available to me was by going it alone and starting a business. So that's exactly what I did. I started my business. It was 2016, which is crazy, because I feel like the past 10 years have absolutely flown. And I think looking back, it was probably one of the best decisions that I'd ever made.

Karen [00:04:54]:
In many ways, it gave me exactly what I was looking for, because I got to be there for those moments that mattered. But what nobody talks about in business is what happens when you start getting busy and you become successful. And as my business grew, the reality was that so did the demands of my time. I had more clients, I had more projects, and I had more responsibility than ever before. And I had a lot of people relying on me. So not only was I providing services to clients, and I had a full roster of clients. So very quickly, I built up a really strong customer or client base, but I also then developed a team that would then support me on these projects as well. So I had a lot of people relying on me.

Karen [00:05:54]:
And. And of course, I fel. First, it was really exciting because I felt like I was growing. I felt like I was learning, and I was building a business, which meant that I could be there for my children. But I also realized that I was the bottleneck in my own business as well, because every single thing depended on me. And if I stopped working, the income stopped. If I took time off, then of course, things slowed down, and if I got sick, then the business suffered. And although I'd escaped the 9 to 5 job, I just created a different version of it.

Karen [00:06:36]:
One where, in reality, I was. I was working harder than ever because I had so many people that I was trying to deliver work for and support. And I know I'm not alone with that. I see so many brilliant Business owners who are overstretched because they're having to be everything to everyone all of the time. I speak to entrepreneurs all of the time who are brilliant at what they do, but they feel trapped in a cycle where growth means taking on more clients, delivering more work, and, of course, putting in more hours. And I think that one of the biggest lessons that I've learned over the past 10 years is that a business only creates freedom when it can generate value without constantly requiring your time. Now, I'm not talking about never working again or sitting on a beach somewhere whilst money magically appears in your bank account. What I'm talking about is creating assets, systems, and offers that continue to work for you when you're not working.

Karen [00:07:48]:
And for me, that meant exploring digital products and online courses, my membership, and building recurring income streams. It meant that I had to find a way to package my expertise so that I could help more people without constantly selling more hours of my day. And I think once I understood that, for me, everything changed because I stopped asking myself, how can I work more to make more? And started asking, how can I utilize my expertise so that it works harder for me? And I think that shift completely changed the way I then started to view my business, because I think the reality is there's so many entrepreneurs are trapped in the Time for Money model. They're fully booked, they're busy all of the time. They're so talented and they are making an impact, but. But they're exhausted and they're on the verge of burnout. And deep down, they know that if they stop working tomorrow because there was a family emergency or life happened and they couldn't work, then their income would stop. And that's not freedom.

Karen [00:09:06]:
That is dependency. The challenge is that most people don't know what else is out there. They don't know what that next step looks like. They know they want more flexibility. They. They. Their business. I still believe, and I spoke about this in episode one of my podcast three years ago, where I said, your business is a vehicle that can take you to whatever destination you want to get to, but you have to understand what.

Karen [00:09:41]:
Where that destination is to know how you're going to get there. And for a lot of people, their businesses the vehicle to freedom so that they can spend more time with their family, they can pursue hobbies, they can focus on the things that matter to them. The problem is they just don't know how to make that transition. And that's why I believe that this conversation is so important now. The Online Business growth summit has been in my head for so long because I had this vision of bringing together experts who could help entrepreneurs see what is possible. I wanted to create an event that helps people move beyond simply working harder so that they can start thinking differently about growth. So over three days I will have over 18 experts cover such important topics like we're going to be talking about creating scalable offers, building online courses and memberships, growing an audience, marketing your business, effectively increasing sales, launching podcasts, creating simple systems and automation, and ultimately building a business that gives you more freedom and flexibility. And it's not about creating overnight success.

Karen [00:11:17]:
It's not about get rich quick schemes. It's about creating sustainable business model that supports the life you ultimately want to live. And in many ways, I think the event that I'm creating I wish had existed when I first started my business because I spent a lot of time thumbing through the dark, not really knowing what I was doing, but knowing somehow that this was what I needed to do. So the summit is going to be taking place from the 6th to the 8th of October and it is completely free to attend. I've got over 18 expert speakers sharing practical strategies and actionable advice that you can implement in your own business. So whether whether you're just starting to think about creating a scalable offer or maybe you're looking to grow an existing business, there is going to be something for everybody. And my goal is that attendees leave feeling inspired, motivated and equipped with practical ideas that they can use to create more freedom in their business. I would love for you to support me with this.

Karen [00:12:46]:
I would love for you to head on over to my website and sign up to the wait list. Head on over to www.hub.onlinebusinessgrowthsummit.com/waitlist. 

I will also put the link in the show notes. So As I celebrate 10 years in business, I can honestly say that this lesson has had the biggest impact on both my business journey, but also privately as well. Because it's meant that I can earn money on repeat. I have money coming in every single month. I'm never starting from scratch. But I also get to build a business that gives me freedom and flexibility and that is something that I didn't have when I first started.

Karen [00:13:47]:
Your business shouldn't rely on you every minute of every day. Your business should support your lifestyle and not the other way around. So if you would like to learn more about the Online Business Growth Summit and join the wait list, as I mentioned, you can find the link in the show notes. This is something that matters a great deal to me and being able to support and impact people so that they can make a change in their own business and lives is so important. And I hope that you you are able to come along, Learn from these experts and build a business that truly supports you. Thank you so much for tuning into today's episode. I hope this has given you some clarity and sparked some new ideas for your business. Now if you found this helpful, I would love you to share it with a friend or a fellow entrepreneur who's also building their online business because this might be exactly what they need to hear today.

Karen [00:15:03]:
And if this episode has you thinking that you're ready to start turning your expertise into income, then I'd love for you to come and join my community. Head on over to my website, www.sellyourbrillianceonline.com/membership. I will be back next week with another episode, but until then have a wonderful.