I met using a potential client earlier this week and that he tells me that he feels as though he’s on a hamster wheel, but if he gets off his business won’t survive. At that point I remembered a write-up I read years back that asked the question; “have you been running a business or perhaps you have created a project for yourself?”
The difference is probably not obvious, but your answer is likely to make a significant difference in the way you operate your small business. Question! What will happen to your small business if you had to leave for a few months? Will your business still generate revenue?
Will your company survive?
I’ve arrived at the outcome that you can’t say you have a business unless you can let it rest for several months as well as the sales carry on and come in. So I ask you, are you operating a business, or have you ever created a task for yourself?
I’ve developed a task for myself, but I use a goal and a plan to create an enterprise.
It’s a worthy goal to produce a task for yourself, nevertheless, the downside is you will always feel as if you are on a hamster wheel. You’re likely to be often stressed out, work extended hours and family vacations are usually only a dream.
My exposure to most entrepreneurs and small business owners is that they are coming up with jobs by themselves. The glaring indication with this is the not enough systems, especially marketing and sales systems. Most things are done immediately without strategic thinking.
Why are franchises so successful?
Because they have systems for everything. You can export the McDonalds Franchise to almost any country and will also achieve success, since the success isn’t dependent on the individual workers, but about the “Franchise system.”
If you want to produce a long-term growth business then this success can not be solely influenced by you. You need a turnkey style operation, a company that is so systematized that you don’t need to be involved in the day-to-day activities from the business.
You need to find methods to automate a lot of your everyday activities so you can get off of the hamster wheel. I think every small business owner and entrepreneur must look into developing systems for them to stop being a slave in their business. I highly recommend Michael Gerber’s book: The E-Myth. In his book, Micheal references giving her very role systems play in transforming your technical skills (your job) in a profitable business.
Understand that clients are a mixture of systems plus a marketing product is arguably your most critical system. Can you note down your process for attracting prospects, converting them to customers then turning them into repeat sales and long-time clients? If you can’t record it, then you certainly really can’t take action.
“Organize around business functions, not people. Build systems within each business function. Let systems run the business enterprise the ones run the systems. People appear and vanish but the systems remain constant.” (Michael Gerber)
So, do you have an enterprise, or perhaps you have developed work for yourself?