In this Expert Insight Interview, Josh Fonger discusses yo-yo businesses. Josh Fonger is a consultant, coach, and speaker, developing and implementing systematic solutions to complex business problems. He is also the sole agent for the Work the System Method, based on Sam Carpenter’s book Work the System: The Simple Mechanics of Making More and Working Less.
This Expert Insight Interview discusses:
- The “yo-yo effect” in business and how to overcome it
- How to avoid burnout and scale your business effectively
- Why having a clear idea of what you want to achieve is imperative
Most companies don’t last because they never get beyond the “yo-yo string.” They get stuck at a plateau of growth, only making short moves above and below that line until a series of catastrophic events such as a trusted employee leaving or losing a big account forces them to go under.
The owner of the typical yo-yo business starts with the idea of building themself a job. They’re typically the hardest-working person in the company, and once they hit a certain level, making the income they want to make, they remain at that point, working a bit harder when they want to make a bit more and working a little less when they want to relax.
This yo-yo approach might seem ok for a while, but the business owner eventually reaches a point of burnout. They get burned out having to be on call six days a week, putting out all the fires, and being the only one in the business who knows how to solve problems.
They need to mature to the point of understanding that they need to treat their business like a business rather than like a job.
Doing the Research
Solopreneurs and small business owners often have a vague idea of what they want their businesses to be. The ability to think on your toes, shift directions, and solve problems as they come is critical to entrepreneurial success, particularly during the early phase.
However, once you get past that and figure out who your customers are, what they want, and how you can deliver that, you have to shift your mindset and begin to scale your business for consistency. At this point, it is time to build up a team and see how far you can go and how big of an impact you can make with this value proposition that you’ve come up with.
John is the Amazon bestselling author of Winning the Battle for Sales: Lessons on Closing Every Deal from the World’s Greatest Military Victories and Social Upheaval: How to Win at Social Selling. A globally acknowledged Sales & Marketing thought leader, speaker, and strategist. He is CSMO at Pipeliner CRM. In his spare time, John is an avid Martial Artist.