#1… WORK ON YOUR BUSINESS, NOT IN IT
Okay, they are NOT my words, but I quote Michael Gerber from The E-Myth all the time, because his words were life-changing for me in my business. I instantly started working ON my business–and created 29 systems that eventually made the business so valuable that it sold for SO much more money than I ever imagined possible.
So–how do you work ON your business instead of IN it?
I can only tell you what I did. You will have to design your own plan that fits your style and your company’s. I did not quit running my desk overnight–that would not have worked in my situation.
But I did decide NOT to spend early mornings at the office, but rather at home, where I had peace and quiet, and could think about what I wanted this business to look like when it was finished.
It bothers some business owners when I say “finished” because they think it will always be a work in progress. IF YOU ARE CONSIDERING SELLING THE BUSINESS, YOU SHOULD HAVE A “FINISHED” PRODUCT TO SELL.
That is when I wrote my first real business plan. Can you imagine starting a business and not having a business plan in place? If you are like the majority of business owners…yes, you can.
I decided to write how my company would operate when it was complete, and what it would look like if I ever decided to sell it. I didn’t realize, at this time, that this would be the start of a very solid business plan that would greatly impress my future buyers.
I started with a marketing plan. I then attacked the accounting end of the business, followed by public relations. I also addressed how the meetings would be run, how management would work, what computerized systems could be put in place, the type of training I would emphasize, how the filing would be done, and how the organizational part of the company would work.
It took a lot of time and thought to create the systems needed to make a company not only survive, but thrive. As I wrote out each section of the business plan, I continued feeling empowered, because I was taking back control of my life and my business once again.
This paperwork was soon bound and became my bible—my ongoing business plan.
WELL, THERE YOU HAVE IT — SECRET #1!
I’m sure, by this time, it’s very clear what I mean by work ON not IN your business. However, until you TAKE ACTION, IMPERFECT ACTION, all you’re doing is conceptualizing, visualizing, and dreaming of what you want to have happen.
If you continue to just strategize, then guess what?
You are still just working IN your business.
Respectfully, until next week,
Patricia
www.PatriciaDrain.com - www.WhatShouldIBeWhenIGrowUp.com