Do you work long hours? Does your business require you to be there in order to function?
Have you wondered if it’s possible to have a business that can work without you? Surely there has to be a better way right?
I recently ran an education night to a group of service based businesses on how to improve Productivity, Profit and Business Performance. One of their biggest concerns was how to create a business that could generate income without them.
This is often the plague of the majority of service based business owners who are doing over $500k. Most have been successful in building a business based on their skillset, reputation and passion for their profession and industry. They might have a couple of people working for them, but they cannot clearly articulate how they can extract themselves from the business.
They feel like they’re working too much IN the business… Something they didn’t want to end up doing when they went into business in the first place. All most of these service providers want to do is build a profitable business around what they love (their profession as a health provider, tradesman, financial planner etc), yet still have the time freedom to be able to go on holidays and live an amazing life with their friends and families. Instead they get bogged down in the daily grind, never allowing this dream to become a reality…
It doesn’t have to be this way… Let me show you what I mean:
I have a client named Sean, who owns a physiotherapy business. The biggest breakthrough for him was engineering a vision for what he wanted for himself, his family, and how his practice would give him the leverage of time and financial resources to do so.
He was getting so bogged down working IN the business treating patients, rather than focusing on the vision for himself, the practice and building a team around him.
Through the Make IT, Manage IT, Keep IT, Grow IT Coaching Program he obtained a greater understanding of his core values. Through this process he realised that he had a real passion for being a leader and coaching his team.
He eventually realised that he could only serve a limited number of people when he was working in the practice, but is now transitioning to increasing his impact on the health and wellbeing of his patients by leading his team to serve ever-greater numbers of people.
In July 2013, his practice did $50k per month in sales. Nine months later in the summer of 2014 he hit an all-time high of $70,000 in revenue for the month and he’s on track to hit his first six-figure month.
But here’s the part I love the most.
He did this all whilst building a business he loved and working LESS than he was before.
In other words, he’s building his business on his own terms. Instead of focusing 100% on revenue, he’s growing his revenue while simultaneously increasing the quality of his personal life and building up a financial fortress in the process.
As you can see, Sean is a real life example of someone who has engineered a vision for EXACTLY how he would love his life, his business and financial success to be.
By having the roadmap in place, you not only do the right things in right order, but you envisage all the possible obstacles and stumbling blocks along the journey…just like Sean.
Don’t forget to think big, dream big, celebrate the wins, and be grateful for the challenges towards the achievements of your goals.
A problem faced by many, perhaps even most business owners when they reach a certain level of success is time scarcity. They’ve built a business around their skillset (dentistry, physiotherapy, trades etc) and the more work they get, the busier they personally get, which leads to a decrease in actual happiness and satisfaction.
Automation is a powerful tool for any business to develop, particularly those of you who are working IN your business.
Here are some time on how to automate your business for fast growth and time freedom:
- Automate the most menial tasks first
Select tasks that don’t include any human value. Automating allows you to avoid errors and save time.
- Build an automation culture
This is not just for big corporations. It’s actually easier and more applicable to small businesses.
Encourage all your employees to automate wherever possible, whilst assuring them that they are not doing themselves out of a job. Automation is a key still of top performers.
- Focus on one area at a time
Start small and then automate one function at a time. Start with something with a good ROI. Once you have a few successes down pat, employees will be requesting more automation.
- Appoint an Expert
Once you begin automation, you’ll find you’ll have one or two experts. If you’re getting the results, create one or more positions focused on automation. The benefits will more than compensate the additional wage, and it will delegate the responsibility away from you.
Record and measure what you do… Where you started, spending, results etc for every project. This will allow you to see how far you’ve come and give greater impetus for starting new projects. And don’t forget to celebrate successes!
- Learn & Model
Find an expert at a big company and bring them in to lead your automation initiatives. They will add massive value. They have vision and an ability to start small and grow big.
From today onwards, make a commitment to set and create a compelling vision for yourself, chunk this down into specific targets to work towards. Break these targets down into strategies, plans and action steps, then commit to writing down these goals on a daily basis to keep focus, momentum and your eye on the prize.
Automate, leverage and live…!
At the end of the day you should control your business, not let it control you. Let us guide you through our proven 4-It System so you can be a master of your priorities, not a slave to time.
Click here for your FREE strategy call now. Limited bookings available.
Rob Kropp – The Profit Coach
About the 4It System for your business and life: The Make It, Manage It, Keep It, Grow It™ (4-It System) will help you structure your business in a way to make leveraged profit. You will have more time as your wealth will expand and your financial freedom turns from a dream into a reality. You will build a business while living a life and leaving a legacy.
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