Billion Dollar Vision
Our podcast is designed to educate current and future business owners to dream bigger, expand their minds further and implement practical steps to enhance their lives with each episode. Please join us as we dive into business topics that we face as current seven figure entrepreneurs. We will also bring you exclusive interviews of some of the most incredible business owners in the world!
Billion Dollar Vision
02 - Building A Million Dollar Team: What I Would Do Differently To Improve The Process
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What if you could transform your business growth trajectory by mastering the art of hiring and finding the right mentor? Join Raya and Trae on Billion Dollar Vision as we reveal the crucial lessons we learned from building and selling a seven-figure business. We dive into the nitty-gritty of creating a robust hiring process and the immense benefits of investing in a business mentor. By sharing real-life success stories from our clients, we illustrate how structured guidance can save you time, energy, and money while accelerating your business growth exponentially.
Tune in to discover how to maximize your productivity through effective time management and delegation. We'll explore the balance between socializing and professional networking, with a special focus on how introverts can leverage paid ads to achieve impressive results. Surrounding yourself with high-level thinkers and immersing yourself fully into your craft will be dissected, drawing parallels with the dedication of athletes. Hear the inspiring journeys of young entrepreneurs who thrived by connecting with like-minded individuals, emphasizing the transformative power of community and shared growth. This episode is a must-listen for anyone serious about scaling their business rapidly and efficiently.
This is a 1 year mastermind group led by Raya Cunningham who has built/sold a 7 Fig Beauty Business.
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Lessons for Scaling a Business Fast
Speaker 1I'm Rhea .
Speaker 2And I'm Trey .
Speaker 1We'll share our own experience building and selling a seven-figure business owning multiple successful brands , and share the stories of other entrepreneurs who are incredibly successful in business .
Speaker 2This is Billion Dollar Vision , the podcast where we educate current and future entrepreneurs to expand your vision , give you strategy and help you take your business far beyond what you thought was even possible .
Speaker 1Your future is limitless and it begins right here , right now .
Speaker 2Let's go Welcome back for episode two of our series on team . This is the Billion Dollar Vision podcast . My name is Trey and I'm joined by my lovely wife , rhea , and today I'm going to ask her to start . If she had to go back and do it all over again , would you change anything ?
Speaker 1In hindsight no , if you asked me as I was going through challenges .
Speaker 2Yes , but um well , you say in hindsight no , I'm saying let's change the question . Put yourself in the shoes of someone who's starting the business right now .
Speaker 1Yeah .
Speaker 2What would you do differently ?
Speaker 1Oh , there's so many things I would do differently and that's why we teach in our programs how to do it different . Right , like I teach what I did really well , because there was a lot of stuff I did really well .
Speaker 1You know I kept service providers on average five to eight years in a high turnover industry Like I think I'll give myself a pat on the back for that one . But also in 10 years of managing a team I learned so many lessons and so many things . I would do different today . I say in hindsight because for what we do today in teaching people how to grow their business and their team and , you know , actually have freedom in their life yeah .
Speaker 1I'm so grateful for everything I did wrong and every lesson and every hard thing I went through , because I have a different love when I have the lessons , which are priceless . And if I can save someone else from going through that lesson because I had to learn it the hard way , it's worth it . But also I have the understanding .
Speaker 1And so I hear all the time of our clients going through very similar situations than I did , and I understand because I've been there too . I've been there where you can't book your team up and they're relying on you . Or I've been there when you can't pay your bill . I've been in all of those scenarios , and so that's why I wouldn't change anything . But if I was to start over , I would do so many things different . I would do what I teach now , because it's all my lessons .
Speaker 2What about the first hire ? Would it be a different position ? Would it be if you could go back ? Would it be a receptionist ? Would you start with the next service microblading ?
Speaker 1I mean , I think it depends on the situation . Would it be a receptionist ? Would it be ? Would you start with the next service , microblading , would it ? I mean , I think it depends on the situation . I think at the time another waxer made the most sense that she could also work the front desk I take in with our clients . If it was a similar like situation of who do I hire first , I would look at like well , how much stuff do you actually have on plate , that of like admin , versus like how much you need a whack , like I would like look at the situation right a little differently , um , but I would be . It would be a completely different hiring process .
Speaker 2I would actually have a hiring process yeah , so in 20 around 2021 , the business finally hit seven figures right .
Speaker 1But before that we were at like 800 to 900 for a couple of years .
Speaker 2Right , and one of the things for everyone who's listening is , obviously , 2021 is just after the pandemic , so the business stayed afloat , kept running , stayed busy , which is a testament to you as a business owner , right ? So , with that being said , if someone said to you All right , you have half the time to make it to seven figures , right , you got to do this . And so , instead of , instead of , in eight years , you got to do it in four years .
Speaker 2What are some of the things you would do to cut the half , cut the time in half .
Speaker 1Well , your time is going to get cut in half if you invest in a business center like us , and I can give you the shortcut right Like Our clients . I mean we have clients that have hit seven figures , but I mean for like specific examples . On top of my mind we had someone that followed almost pretty much the same path . She was a waxing and lash salon . I was just waxing , but she was waxing and lash . She went from waxing and lash studio to adding laser hair removal after going through seven figure teams and hearing that we did it , scaling her business , growing it and within she not only had the same results we did with laser , which was like $30,000 a month right off the bat , but she's hitting $90,000 a month her second or third year in business . I wasn't doing $90,000 a month . Then she had a baby , was able to stay home right away .
Speaker 1We have example after example of people investing in our programs , learning the shortcut , taking my 10 years of experience and collapsing the timeline and literally doing it in two years . We have clients from our platinum group last year that are doing $60,000 a month . It's their first year in business and they're either out of the treatment room or very limited , like one day a week in the treatment room . This is through the vehicle of growing their team , and so that's the best shortcut you could ever do , and that's why we invest so much . When we want to get to the next level , we're always willing to invest in mentors at a very high level . Right , like a high investment , because we know it's the shortcut and it could take us five years to figure it out on our own . Or we could pay someone $20,000 and we get there in a year . Like it saves you time , energy , money , everything . And the money is because it takes you a shorter time . Right , you make less mistakes .
Speaker 1So you invest up front but you save on the back end .
Speaker 2Yeah , and that's one thing I know . Like we're in an era where people say you don't have to go to college , right , and I always tell people that when this conversation comes up about college , I don't think anyone has to go to college , but the one thing I tell people is , like , the fundamental idea of paying for an education to learn how to do something in order to to make money that idea of school is correct .
Speaker 1Right , right .
Speaker 2Absolutely . I think where people get it wrong is they say well , you don't got to go to school , You're just going to go in debt . They're not giving people the other half of it . In order to learn any skill , any trait , to start any business , you're going to have to make some sort of financial investment into education .
Speaker 1Right yeah .
Speaker 2So what you just said makes a ton of sense , right Like . And so what you just said makes a ton of sense , right Like that , that you would do it sooner , you would get the get the teachings sooner , you would get the mentor sooner , which is very , very important . There's . There's no one that I can think of , any entrepreneur that's super successful , that has no mentor at all . Even Warren Buffett , he has a mentor .
Speaker 1But what would you do less of in order to reach seven figures sooner , to reach seven figures quicker ? I would do a lot less stuff . In general , I would really focus on what am I best at right ? Am I best at marketing ? Am I best at waxing ? Am I best at growing the business ?
Speaker 1And if you're the business owner , for most people , unless you hire a CEO or we're partners and you're the CEO , usually the position you have to place yourself in is in that CEO role , which is growing the business , growing the team , and to do that you have to take a lot off of your plate
Success Through Immersion and Vision
Speaker 1. Because it may seem really easy to just be like , oh , I'll just sweep the floors , because I've been sweeping the floor solo , I've been sleeping sweeping the floors my whole life , you know , like let me just do it if someone didn't do it . But you have to start looking at your time differently and all those little distractions are just that like they have to be done . They do not have to be done by you , and so I would delegate faster so that I can really use my expertise where it's needed , which is , you know , essentially like going back into a brick and mortar the business growth , and so like there has to be someone focused on the business growth . The reason we grow as bosses and beauty is because you're focused on the growth right and I'm focused on the teaching , so it works really well together .
Speaker 1If neither of us was focused on the business growth , the business would not grow right . Like someone has to do that , and I think that's where a lot of estheticians go wrong is , you know , they're focused on so many things . They want to help . They want to help do the jobs of their team members which I've done before as well of like well , she didn't do this , let me just fix it for her , instead of teaching them how to fix it themselves and do it right themselves , because then you're always fixing things and really honing in on your time and skillset of my job is to grow the business and anything that falls under that is what you know I need to focus on . So that's growing the team . If it's that focusing on vision , if it's marketing , you know , unless those are also hired out , team , if it's focusing on vision , if it's marketing .
Speaker 2You know , unless those are also hired out . One thing you didn't mention was socializing partying , hanging out . Yeah , I know you didn't do a ton of that , but how much do you think that could hinder an entrepreneur's success ?
Speaker 1and timeline , right , that's hard . So there's a couple things to that it's hard for me to say because I'm , as you know , as my husband , like I'm more of a homebody and I've always been that way , even when I was single and no kids . Like I , it's a Friday night , I'm home at like I'm in bed at like 9.30 PM , even earlier than than now like just researching and watching documentaries and doing my thing like I . I was never like I'm not , and it's not that I don't like people , I've just I'm a homebody , like I'm more introverted , right , and so for me , um , it probably could have helped get us there faster if I had done more events , had I been in the community more , for sure .
Speaker 2Community events . Those types of things are different from partying , clubbing .
Speaker 1Oh for sure . But even for that , like being an introvert , like I probably could have tried harder , but like , here's the hack If you are like me and you don't want to go to the networking event , paid ads are the hack . Paid attention , right , and that's what I did , and so I didn't necessarily have to because I was willing to invest money to , like , exchange the networking . But if you don't have the money to do paid ads , you probably do need to do the networking . On the other side of it , it's funny because I absolutely love going to entrepreneurial events with a ton of entrepreneurs that think differently , that think at a very high level . That fills me up .
Speaker 1It wasn't necessarily that , I think , going to events to promote my business which should have been like I don't know why , I was just in a different time period of my life but the filling up of like learning and growth and being around really high level people , I think that's very important . You have to be around people that make you think differently , that make you think bigger , that make you think it's possible , because , like I said in the beginning , it might take something so small that once you see it , you can't unsee it . Once I started hanging out with millionaires and I was making $300,000 a year in my business and I thought I was really cool . I was like , oh , I'm still a baby business . $300,000 a year isn't that cool ? Not when you have all the expenses . It's a start , but it is only the beginning and I didn't see that until I started hanging out with people that were much more successful than I was and normalizing it .
Speaker 2Yeah , but that goes to like immersing yourself . You were hanging out , but you were hanging out with a purpose . Right , you were putting yourself around people who were talking business , talking profitability , talking scaling Right , you're putting yourself around people who are talking business , talking profitability , talking scaling . You can talk about the challenges of business , how to get over certain things with an employee , right ?
Speaker 2A lot of people don't immerse themselves into something and give themselves a chance to make it . So , even if you're a child gymnast at a certain point , if you're really trying to make it to the Olympics gymnast at a certain point , if you're really trying to make it to the olympics , most of the women that you see at the olympics and men that were gymnasts by by middle school age . They were probably homeschooled right because they were immersing themselves right into their craft .
Speaker 2People who make it to the nba , the nfl , mlb , they've had to make certain social sacrifices and they've had to immerse themselves into their craft in order to make it to that level . And the same thing goes to business , and so anyone that's listening the quicker , no matter what age you are . We have two students who are , I think , 23 and 24 , who are killing it right now yeah , right now , and one of them made a statement to me about they appreciated seven figure teams platinum , because they have not been able to find people their same age that they could talk about business with . Yeah , ironically , they both live in California and they're probably about an hour away from each other . So now , maybe once a month , they drive and meet up halfway and they've become each other's sounding board .
Speaker 1So to speak , that doesn't sound crazy , like when you say to your friend hey , I want to make $60,000 this month or $70,000 , it might sound crazy , but to someone on your same level or higher it doesn't sound crazy . It sounds normal and attainable .
Speaker 2It only sounds crazy because the people's realities aren't um , they're not . Once again , they've lost that childlike imagination , right . And so when your reality changes , so does your beliefs and what you think is possible , right . So it may sound crazy uh , making 60 or $70,000 a month but when you're around people who have done it , you know it's attainable . So you say why not me ? And , with that being said , we appreciate it and thank you for tuning in .
Speaker 1Remember it all starts with your big vision .
Speaker 2Stay determined and always keep your billion dollar vision alive . Please , wherever you are listening , subscribe and leave us a five star review .
Speaker 1It would mean the world to us . See you next time .
