How I'm Baby-Proofing My Business for Efficiency
*This prerecorded episode contains an advertisement for Socialite Vault’s 14 day free trial. As of May 1st, 2019, we no longer offer a 14 day free trial.
The Kate Show | Episode 73
As many of you know, I'm due with my first baby in July 2019. As I'm preparing for her arrival, I realize that now is the perfect time to share a bit more about my business model, my team, and why motherhood won't be taking me away from entrepreneurship. (Shout out to all my working moms who hustle hard and hug their kids every day. Balance isn't perfect, but you make it look good.)
If you're curious about my leveraged, passive income model, the team that runs it, and why my business was built for motherhood from day one, you'll love this episode. Subscribe to The Kate Show Podcast on iTunes or Google Play.
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My Leveraged, Passive Income Business Model
I almost don't want to use the term passive income because it creates the mental image of all play and no work, and that just wouldn't be accurate. I refer to my business as leveraged income because, while it requires regular maintenance and customer service, it allows my team and I to serve large numbers of customers simultaneously. While the business grows, the overhead does not (or if it does, it is minuscule in comparison).
How is this possible? Glad you asked. A majority of my business model is Socialite Vault, a membership platform for home professionals who need help with their marketing. This membership serves customers in the US, UK, Canada, Australia, and more, making it possible for me to run an international company with a very small, specialized team.
The second (and smaller) portion of my business is the custom side, Kate the Socialite. Under this brand name, we offer website design, custom social media management, and marketing consultation. While this side of my business has a limit on how many customers we can serve and is labor-intense compared to the membership, it is also a big reason why my membership platform continues to be successful. Working one-on-one with interior designers, stagers, and workrooms on their marketing needs helps me stay current and able to offer relevant advice.
The third (and smallest) portion of my business is this podcast, The Kate Show. While I'm still navigating the world of sponsorship-based income, I've found it to be a great way to grow the other two portions of my business. Podcasting has a huge return on investment for me. I'm so glad I made the leap!
Meet the Socialite Team
In early 2018, I realized I couldn't manage all facets of my growing business any more. I was so wrapped up in the details of everything that I wasn't able to steer the business from an overall management and strategy standpoint. So...I started building a team. It was intimidating at first but quickly became addicting as I found the perfect specialists for each task.
Julia and Deandra are great customer service reps for my membership. Amanda and I collaboratively design client websites together, cranking out a whopping 24-30 websites per year. Stacy is excellent at co-managing my custom clients' social media accounts and curating their Pinterest boards. Jill is my rock star graphic designer who creates beautiful brands for my clients.
I couldn't run my business or all three of my brands (Kate the Socialite, Socialite Vault, The Kate Show) without these women. Much like me, most of them are working moms. They inspire me to stay organized and to never use mom life as an excuse to slow down, but instead, as a reason to become more efficient.
On the fringes of my team, I also have my business coach, my bookkeeper, my CPA, my financial adviser, etc. It really does take a village to run a successful business. I'm blessed to have a professional fulfilling each position in my company. Rather than hiring a virtual assistant to do a myriad of tasks, I knew I wanted people who were already skilled in what they did. This works out amazingly well because I don't have to train anyone to do their job. I simply share my business guidelines, policies, and processes with them. They run with it and do the rest.
Will Baby Girl Change My Business?
You've likely realized by now that my upcoming motherhood will have little to no impact on my business or my customers. This was my intention back when I started the biz in 2014. I knew I would someday have children, and I also knew I wanted to be an entrepreneur. With my business model and great team, I don't have to choose between those two lives.
In fact, you all won't even be able to tell when my baby is born or how long I take to recover. Business will continue per usual. The podcast will still come out every Monday. Content will be produced each week / month for the membership.
Why? Because my business doesn't depend on me to be successful. It's a living, breathing thing that can run on its own for a reasonable time while being supported by my team. I'm beyond excited to give birth to my baby and watch my business model snap into action. I'll always be part of the business, and I'm so thankful that I get to run it...versus it running me.
How Will This Affect My Customers?
Simply put, it won't. I'm honored that I get to continue serving you all and can't wait to see how full-fledged motherhood will continue to make my business more efficient and effective. Because much of my business is automated, I'm able to schedule content for the membership, my social media, and my podcast months and months in advance.
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