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EXECUTION 5 Figures & <10 Hours a Month in 6 Months

Discussion in 'Progress/Execution Threads' started by Andrewjgong, Apr 4, 2018.

  1. Andrewjgong
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    Andrewjgong Contributor

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    Alright, so here goes.

    I work in my own business that buys and sells used items. I've made the decision to outsource a majority of my work.

    I've been working in this business for about a year. The process of doing things is pretty straight forward in my business. I spent the last year and few months figuring out what works and what doesn't.

    If everything goes according to plan, here's what it should look like:

    April: Finish the operations manuals for all parts of the business. Continue gaining capital. Research research research.

    May: Test out the manuals myself. Keep working in the business. Receive feedback from current helpers and my soon to be employees. Continue gaining capital. Keep researching. Go from working 25 days to 12 days a month.

    June: Same grind as 2nd month. Start the hiring process for employees. Keep refining the manuals. Keep researching.

    July: Continue outsourcing work. Increase pool of employees. Keep refining the manuals. Keep researching.

    August: Finalize the manuals. Finalize initial research.

    September: First 100% hands-off day. Continue receiving feedback. Research more if need be. Tie up any loose ends.

    Do I expect it to happen like this completely? No. But this is what I'm striving for. It might take me to December or beyond. My goal isn't to create a booming business here, but rather part of the equation that's takes very minimal to no time away from me. 10 hours a month making 5 figures as part of my income. Frosting on the cake if it makes 6 figures.

    Without further ado, my progress thread!
     
    Last edited: Apr 4, 2018
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  2. Andrewjgong
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    Beginning of April:

    My business consists of 4 main activities.

    I have a complete draft of activity 1. I need three more manuals for the three other activities to be fully complete.

    I have one friend performing the 1st out of 4 activities. With a little bit more refinement, this first activity will be completely refined.

    I am current training another friend who is doing the 2nd out of 4 activities. This one takes a good majority of time, but with enough training and time this will also be completely refined.

    I will be training this same friend to do the 3rd out of 4 activities. This 3rd activity goes hand-in-hand with activity #2 and shouldn't take too much time to get cranked out. I need to create a manual for this. Currently I do this activity.

    The 4th activity requires more employees. This takes up almost 12 days a month working 12 hours a day average for 6 days at a time. This is the dinosaur I'm going to take down this year.

    As of current, I work an average of about 25 days a month. Once I outsource the 1st, 2nd and 3rd activity, I will be working only those 12 days in the 4th activity. This is my goal by the end of May.

    Alright, stay tuned for the beginning of May!
     
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  3. Andrewjgong
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    Middle of April update:

    Activity 1: I went over a second training session for activity #1 with my friend helping me part-time. I've also did a bit of brainstorming on this first activity and improved its efficiency by a little bit. This month will determine how effective my second training session went.

    Activity #2 is still in the works. With more time and practice he should be able to do the work faster and more efficiently.

    Activity #3: Currently working on the manual for activity #3. Should be done with a rough draft by 11:30 a.m.

    Activity #4 is still being researched. Discovered some better techniques on how to outsource activity #4.

    Overall, making progress. Personal goals have changed slightly.

    September: Continue receiving feedback. Research more if need be. Tie up any loose ends.

    End of September: Go a whole two weeks hands off.
     
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  4. JohnZ123
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    Watching this thread! Hoping to hear great things from you
     
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  5. Andrewjgong
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    Thanks man. I'm definitely realizing that outsourcing can be done quickly, but isn't easy. Do you have a business you're working on?
     
  6. 404profound
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    404profound Silver Contributor I've Read UNSCRIPTED Speedway Pass

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    Good job man
     
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    Yes I run a few profitable e-commerce stores I started 3 years ago (won't disclose niches) when I was 19. All I can say is if you want a high value business community and information this is the best forum for it. MJ's book Millionaire Fastlane was a life changer for me. If it wasn't for his book, my family and I would still be poor today. I suggest looking at the Gold threads regarding business execution, it will help you a lot.
     
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  8. Andrewjgong
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    Monthly update:

    The manuals are done for activities 1 and 3. Activity 4 is still in the air due to still testing it out myself, but last week I got much closer to how I wanted it done. Capital is slowly growing.


    This month I'm definitely buckling down and refining the manuals. I'm constantly working in my business this month as well. I've been receiving some valuable feedback from current helpers throughout April and things that should change and make things easier for all of us. In the meantime, I'm continuing the grind.

    What I'm realizing is that the more experienced my helpers become, the less they need manuals because the tasks are so simple already. Since my helpers are in it for the long run, I'm focusing less on the manuals for activities 1, 2, and 3 and going to be putting more of my efforts into activity #4 this month.

    Overall, I give my efforts a 7/10 in terms of value-adding activities. While the manuals are necessary for the business, I don't feel they made much of an impact. But I know I need them when I start to franchise out this business model to different places.

    Ok, end of my monthly update. Time to go to the gym, come back and work until 8:00 p.m.
     

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