Start with the end in mind
We speak of exit strategies, yet most entrepreneurs struggle to work towards realizing that strategy. How does one reach the goal?
Here’s a tip: Start with the end in mind. Plan for the sort of business you want in a few years and how you will get there.
If the plan is to continue being a one-man show for just a few years then work fewer hours while generating an income, then you are probably looking for ways to SAVE TIME. Look for applications (apps) that automate your admin e.g. quoting and invoicing app; create packages that can.
If the plan is to recruit teams, to grow the business then you’re probably looking for ways to reduce the time you spend “in your business” and want to spend more time “on your business”. A process manual will assist with defining roles and responsibilities making it easier to recruit and on-board employees. Save TIME, Save MONEY, GROW the business.
If the plan is to hand-over the company to someone else – either by means of selling the business or appointing a business manager, a process manual provides a guide to continue the success of the business, with that the value of the business is likely to increase.
Attend a workshop on how to Systemize your Business. Learn to develop a strategy for your business operations, and if you already have a strategy, learn how to manage the implementation thereof.