In my last post, I explained the different mindsets a business owner needs and the systems that need to be in place to achieve the most from your business. Now I will discuss solutions to help those business owners who are frustrated and about to give up on their business, or want to sell it because it’s been more of a headache and heartache, then they expected.
There are three levels to make your business work smoothly. They are outlined below and discussed more in depth.
This is when the business is still dependent on the owner to work.
When you first start a business, the owner is the person doing everything. The owner is making the decisions and doing the work of the three mindsets outlined in the previous post. Your business can succeed at this level, but it won’t reach its highest peak without systems in place and each mindset doing what they need to where their time is the most valuable. This will require some outsourcing or other people to do some of the work. Systems with instructions and standards will free up time and keep your business running smoothly.
This is when there are systems in place and the business is no longer dependent upon the owner to run smoothly.
This level is reached when the business owner has systems in place and the right people are in place. The people are managing the systems, so that the owner has time to do other things. This is different from the Start-up level where the owner doesn’t have time for anything.
This is where the business can expand to different locations (franchise).
Not all businesses decide to reach this level. In this level, if you can replicate your business, you can scale it for larger profits.
No business can change the order of these three levels. Every business must first achieve the Start-up level, then the Sustainable level, before they can reach the Scalable level. If you don’t follow these levels as they are outlined above, you will find yourself with a lot of drama and disasters. When this happens, the business owners are more likely to give up or say it’s too hard. It’s all up to the business owner as to whether or not they succeed. There must be the right systems in place to achieve the ultimate goal.
A wealthy, successful, thriving, and minimal frustrating business is within your reach.
Until next time…
P.S. Learn more about working ON your business–talk to the coach! Click here to connect with me!