You must have created a checklist before even starting your company or business, and that’s definitely a step in the right direction. Without a plan, businesses fail fast, and that’s something you do not want.
If you’re thinking of starting a business or maybe things aren’t going well, and you think you missed something, it’s worth checking this list because here are four essential systems that you have to implement in your business right now for it to be as successful as it can get.
It must be scalable.
Every successful business has to be scalable. This means it doesn’t have a clear limit to what the company can achieve moving forward in time or as the business grows.
In business, I have two golden rules. The problem with many entrepreneurs is that they only get to make the first rule. These rules are (1) create a business out of passion, and (2) the longer it lives, the better it gets. Many entrepreneurs do the first but miss out on the second because their ideas aren’t as scalable as most.
An excellent scalable business model could be an online publishing company. You can publish various eBooks (or even physical books) or courses by yourself or a small team at the start, but after sales go up. You get better at it, you can get indie writers and have them publish through your business, and as time goes by, you keep getting more and more writers under your publishing company.
But how do you know if a business is scalable? The easiest way to know is if people need your business and it’s something that they’ll need repeatedly. We’ll be talking more about that in just a bit.
The business has to have the potential to be automated.
Another system you have to have in your business is automation. Without this, you won’t be able to grow it as fast as you can or maximize your profits.
Why automation? Because if you didn’t notice, we don’t stay young and year after year, you get more and more work if you keep doing great in your business.
It’s not a bad thing but what we tend to do in these situations is to make clients wait, move schedules and deadlines, or outright give up on new clients.
With automation though, you can get as many clients as you want, work on as many projects as you want, all without getting tired because everything (or at least, most of the aspects in your business) is automated.
Imagine a business making money without you having to work on it yourself!
As it grows, you have to work less on it.
Like with the last point, as your business grows, being able to leave it to grow by itself is essential to make a successful business. You can’t be there all the time, and that’s a fact… and a limitation.
To remove that limit, you’ll have to be able to employ others that can do your job or automate enough aspects of your business for you to have more time to do what makes you the most money.
You have to make sure your business is continuously needed.
And the last thing in your checklist should be that your business has to be continuously needed.
The reason why many eCommerce companies start failing is because of two things. Number one, their product is a one-time thing—something that lasts you forever or something that people tend to buy once and are done with it. Number two, they already sold to most of their customers and they don’t need another.
One everyday business that people need constantly is food. Everybody needs it, and nobody can get enough of it. That doesn’t mean you have to start selling food online (although, it is very viable these days), you have to make sure that the product or service you’re selling can stand the test of time.
Tabita and the PioneerU Team
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