Abagail Pumphrey & Emylee Williams

Welcome To Eloma Episode 52 – Scaling a Service Based Business with Abagail Pumphrey and Emylee Williams

“If the goal is for this to be your full-time income, plus potentially the opportunity for you to scale and eventually move away from delivering the service yourself, it requires you to have an in-depth knowledge of what is needed to sustain your life and lifestyle and grow the kind of business that you want to grow,” explains Abagail Pumphrey. Abagail and Emylee are the co-founders and co-CEOs of Boss Project and the hosts of the chart-topping podcast The Strategy Hour. Together they have helped over 10,000 small business owners grow profitable and sustainable businesses. Today, Abagail and Emylee share their tips for scaling a service-based business.

A service-based business model is one of the most profitable businesses because there is a lot less upfront cost to get started. This model is very accessible to begin with, but owners still need to be very clear on their long-term goals and have strong boundaries in place in order to scale successfully. One common mistake is undercharging for services and essentially doing a bunch of work for free. It’s important to have a good understanding of the numbers and set appropriate rates if the goal is to generate a full-time income.

In order to successfully run and scale a service-based business, you have to be really clear on what your long-term goals are, not only for the business itself but also for your personal life. Build your business around your desired life, rather than trying to fit in your life around the business.

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Highlights:

“Every time I prioritize holding my boundaries, protecting my creative space, honoring how I want to show up for work and be a leader, and work with my team, every time I prioritize space there and openness and creativeness, we win.” (3:51-4:09 | Emylee)
“If the goal is for this to be your full-time income, plus potentially the opportunity for you to scale and eventually move away from delivering the service yourself, it requires you to have a in-depth knowledge of what is needed to sustain your life and lifestyle and grow the kind of business that you want to grow.” (10:31-10:53 | Abagail)
“Service-based business owners don’t think of how many consequences come from what you’re priced at.” (12:15-12:20 | Emylee)
“Just cause you’re making money doesn’t mean you’re not working for free.” (14:05-14:07 | Emylee)
“If I am really aware of what I want my personal life to look like, then I can design a business around my life.” (25:16-25:24 | Abagail)

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Kiley Small Business Strategist

Kiley Peters is a serial entrepreneur and small business strategist. She built and exited an international award winning agency to launch her executive consultancy helping women live the lives they want through entrepreneurship. She is on a mission to help 1 million women build more financially free and fulfilling lives through her founding of RAYNE IX–an executive consultancy helping women fast-track the launch and growth of their consulting practice so they can have greater flexibility, autonomy, and ownership of their lives –and The 100 Collective, a membership and directory for women service-based small business owners who are committed to helping other women succeed. She’s also the host of Welcome to Eloma, a podcast for visionaries, entrepreneurs, and business owners who want to become better leaders, people, and pioneers.

Abagail Pumphrey & Emylee Williams

Kiley Small Business Strategist

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