The method to building a business that works without you…
If you’re a business owner, you likely started your business with the goal of building a great life for yourself. However, this can be challenging if you’re constantly working and don’t have time to enjoy the fruits of your labour. Fortunately, there are six steps you can take to build a successful business and enjoy a great life.
In this first step, you’ll focus on control. This isn’t about making a lot of money, but rather having the right controls in place. Money mastery is key, which means having control of your financials, including your cash flow forecast, profit and loss statement, and balance sheet. Additionally, destination mastery is important, which means being clear on what your ideal life looks like so you can work out what the business needs to do to get you there.
This step is all about cash flow. You’ll focus on sales and marketing to win customers, keep them, and get more value from them. Implementing the five-step methodology is a powerful way to structure and plan your growth.
In this step, you’ll systematize your business and put processes in place to make it work reliably and consistently. This is about making the business work properly as a business, rather than relying on you or any other individual. Your team is supported by your systems, so it’s important to have the right level of systems in place to ensure everyone knows what they’re doing and chaos doesn’t ensue. Remember that money pays for your systems, so ensure you have the sales and marketing engine in place to support them.
Getting the right people on your team is critical to your success. Recruitment is a critical part of this step, and you should have a process in place to ensure you’re hiring people with the right attitude and fit for your team. Once you have the right people on board, it’s important to manage them well to keep them motivated and aligned.
Once you have completed the first 4 steps, you can take the business for spin. This is where you can expand geographically, interstate or overseas. You could franchise or licence the business. You will see massive results by replicating what you already have.
With these steps in place, you’ll be able to step away from your business and enjoy a great life. You can start by taking a month-long holiday or cutting back to a three or four-day week. Once you have everything implemented well, you’ll be able to step away for even longer.
By following these six steps, you’ll be able to build a successful business that works without you and enjoy the great life you’ve been dreaming of. Remember, it’s all about being intentional and systematic in your approach to building your business.
P.S. Whenever you are ready…
Here are three ways we can help you grow your business.
- Get the ‘finish your business’ checklist: The complete step-by-step recipe to have all the ingredients in place to actually finish your business. That means it works without you and gives you a great life. Click here.
- Join and connect with other entrepreneurs that are building great businesses: It’s our Facebook community where smart business owners are learning to get more customers, build winning teams and put their businesses on autopilot. Join now.
- Apply to become a member of BGB: If you would like to be considered for membership and go from working in your business to working on your business… send us a message and put ‘membership’ in the subject line… tell us a little about your business and what you’d like to work on together, and we’ll get you all the details.