There’s a point where your firm looks successful from the outside, but you’re still working crazy hours and can’t step away without everything falling apart.
It’s the classic mid-6-figure trap, and a lot of firm owners get stuck here for years.
In this episode, I share the fork in the road I see firm owners face at this stage, and what it actually takes to break through instead of staying stuck.
Listen below.
0:53 I talked to a firm owner at mid-6-figures—team of four, premium prices, ridiculous hours. The problem? Only junior and mid-level people on the team, so he was stuck as the bottleneck.
2:09 Senior means experienced—someone who reviews work without constant questions, jumps on calls with difficult clients and fixes things, and tackles complicated tax scenarios without hand-holding.
3:38 Choosing to wait means more long hours, same bottleneck. Revenue might grow a bit, but you’re still doing all the complex work and running at full capacity.
4:34 Got the cash flow and want to grow? Make the hire. I know it’s not the answer you’re hoping for, but there’s no hack around this. Taking this risk is what it costs to reach the next level.
7:16 Run the numbers on your take-home after the hire. Can you really afford your life on less income for a year? Figure out your plan for adding revenue to cover it.
8:00 If that senior hire walks in a year, cross-training keeps you from square one. One of your mid-level people might be senior-level by then—or at least significantly more capable.
9:37 Be honest: do you want to grow, or are you pretty comfortable here? Both are valid. Just don’t tell yourself you want growth when stability is what you’re really after.
