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Topics & Tips
Business Tips
Build a
System for Freedom
Every entrepreneur knows that setting goals is crucial
to business success. If you don't know where you're
going, how will you know when you've arrived? Or, more
importantly, when you're heading in completely the wrong
direction?
If you're the owner of a small business, what is your
goal? To make it to the end of the month with enough
money in the bank to cover the payroll? To take a
holiday for the first time in five years?
Every small business owner should have the same goal -
sooner or later, to become independent of the business.
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Small businesses turn into big businesses only when they
are able to operate smoothly without the owner being
present. When you can stay away for a week, or a month,
or a year, and return to find the business running
better than before you left, you have the opportunity to
do whatever you like - sell the business and start a new
one, retire, buy a yacht and sail around the world.
True financial independence is the ability to live your
life doing what YOU want to do. |
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Do you really want to show up for work an hour early
every day, leave late at night and never take a holiday,
for the rest of your life? Surely not.
What is the key to being able to walk away?
It's simple. You need a system in place so that everyone
in your business knows exactly what's expected of them.
When you take on a new employee, how do they learn what
they're expected to do? Does an existing employee take
them in charge, explaining how things work? How can you
be sure that the new employee is learning what you want
them to know?
As the owner of the business, it's your job to ensure
that a system is put in place as the business grows. The
system will ensure that everyone knows what they need to
know to do their job effectively.
How do you think companies like McDonald's are able to
manage thousands of restaurants across the planet?
McDonald's Head Office doesn't sell hamburgers. They
sell franchises, and their customers are the
franchisees. The most valuable asset they have is their
system. It regulates what employees wear, the words they
say to customers, how many seconds a patty is left on
the grill, to variables within their business. Every
contingency is dictated by the system.
The system makes it possible for new employees to fit
in. They are educated on 'how we do things around here'.
They are taught the specifics of their job. They may be
required to sign a performance agreement.
In a well-designed system, there is still space for
individual creativity. Better ways of doing things
should always be sought out and encouraged - and written
into the system for the future.
The system provides the framework for ensuring that the
business is never entirely dependent on any one person.
If you own the business, your future depends on the
quality of your system.
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