£25K/Month But Still Doing All the Work! Mortgage Broker Trapped

In this episode of the Business Broadcast, host James Sinclair speaks with Ross, a business owner operating in the mortgage sector with a revenue of approximately £380,000 per year. The conversation centers around Ross’s queries on whether he should aim to scale his business dramatically or maintain a smaller boutique operation.

Ross has been in business for seven years and currently has five team members, but he faces challenges transitioning from doing the daily operations to fulfilling a more strategic, owner-like role. He aspires to become solely the director of his business, focusing on mentoring, business development, and relationship management while stepping away from direct client service.

During the discussion, Ross shares that he feels he is too reliant on doing the work himself, which limits his ability to grow. He outlines his desire for the business to make a net profit of £100,000 annually, but questions how to achieve this while remaining involved in daily operations. James Sinclair guides Ross towards contemplating his long-term goals and the balance between lifestyle and business expansion, suggesting that clarity on desired outcomes is essential. The episode puts forth the notion that not all entrepreneurs must strive for massive success; instead, many can find fulfillment in a smaller, well-managed business that supports their lifestyle.

Ross recognizes the potential of investing his profits into commercial properties, suggesting that perhaps focusing on building passive income would align better with his personal goals. The discussion emphasizes that it’s important for business owners to ask themselves what they truly want out of their work and life, moving beyond societal pressures to build bigger businesses. The episode wraps up with a thoughtful reflection on finding happiness and meaning in entrepreneurship, regardless of business size.