310 - Are you Building a Job, Business or Exit with Matt Gartland
Jan 29, 2024
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Matt Gartland, CEO of Smart Passive Income, joins the podcast to discuss the importance of having a clear vision for your web design business. They explore the distinction between vision and goals, the challenges and rewards of transforming a business, and the process of creating a web design course and coaching program. They reflect on job, business, or exit strategies and encourage listener engagement.
Sunsetting certain services or offerings in order to make room for new opportunities is crucial for web designers, requiring a deliberate and gradual transition while maintaining consistent revenue.
Having a clear vision statement for a web design business allows for more informed decision-making and prioritization of efforts in alignment with long-term goals.
Transitioning from freelancing to becoming a business owner requires intentional goal setting, reducing dependence on freelance work, and exploring new revenue streams.
Deep dives
Sunsetting Services and Shifting Focus
One key point discussed in the podcast is the importance of sunsetting certain services or offerings in order to shift focus and make room for new opportunities. The podcast highlights the example of a web designer who phased out graphic design services to focus solely on web design. The speaker emphasizes the need to be tactful and intentional during this transition, ensuring that current clients are not negatively affected. The podcast suggests setting goals to gradually reduce the number of clients in the old service area while simultaneously growing new revenue streams. This deliberate approach allows for a smooth and effective transition while also maintaining a consistent revenue level.
Crafting a Vision for Business Growth
The podcast explores the importance of having a clear vision for a web design business. It emphasizes the difference between a mission statement and a vision statement, with the latter providing a two to three-year roadmap for defining the direction and goals of the business. The speaker highlights the significance of identity in crafting a vision, encouraging listeners to think about the identity they want to establish for their company. The podcast suggests that having a well-defined vision statement allows business owners to make more informed decisions and prioritize their efforts in alignment with their long-term goals.
Transitioning from a Freelancer to a Business Owner
The podcast addresses the common journey of web designers transitioning from freelancers to business owners. It acknowledges the initial phase of freelancing, where the focus is on generating enough income to sustain oneself. However, it emphasizes the need to shift towards a more strategic and long-term approach to business growth. The podcast suggests that this transition requires intentional goal setting and the development of a clear vision for the business. By setting goals to reduce dependence on freelance work and exploring new revenue streams, web designers can establish themselves as business owners and create opportunities for scaling and expansion.
Building a Media Company and Incubator for Small Businesses
The podcast episode discusses the evolution of the host's brand from being a personal brand to becoming a media company. They emphasize the importance of building a team and larger purpose beyond the individual. They express their vision to become an incubator for online small businesses, drawing inspiration from successful tech organizations and private networks for business owners. The goal is to create a more approachable and affordable version of these models for creators, freelancers, coaches, consultants, and small business owners.
The Importance of Vision and Planning in Business Transformation
The podcast explores the significance of vision and planning in business transformation. The host emphasizes the need to define what you are building and align your goals and actions accordingly. They stress the value of having a clear vision statement and setting goals that are outcome-oriented and measurable. They encourage entrepreneurs to consider a two to three year vision rather than a longer five-year plan, especially in the early stages of business. The process of business transformation is described as slow, messy, and requiring careful consideration of clients and stakeholders.
CEO of Smart Passive Income and Pat Flynn’s biz partner Matt Gartland is back on the podcast to help you cast a vision for your business and help you identify what you really want to create as a web designer…a job, business or potentially an exit.
In This Episode
01:43 - Create a Vision for Web Design 13:36 - Understanding Mission, Vision, and Goals 24:29 - Incubators and Small Business Growth 30:56 - Pivoting a Business Model 34:41 - Sunsetting Services and Pursuing New Business 42:16 - Apple's iPod and Web Designer Evolution 45:56 - Measuring Lifetime Value and Future Planning
Big thanks to the sponsors for our upcoming Web Designer Pro CON 2025 event! We couldn't make such a top-notch event for my community without their support 🙏
17hats (for proposals, invoicing, contracts and automation)
