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It is a fact that many business owners (including myself) become very efficient at creating jobs rather than businesses.
We like to think because we have nice offices, 5 or 6 figure bi weekly-payrolls and manage binders full of women
that we own credible business systems. At least that's the lie we tell others.
Many of us are glorified, freelance employees that happen to sign our own paychecks. Meaning our businesses require our presence and constant input to survive.
Personally (after learning what true fastlane businesses embody) I would now trade it all for a business I can run from home.
A one man show, no glitz or glamour.
Zero employees to manage. Virtual Assistants or Contractors on an as needed basis. No Payroll or payroll taxes. No unpredictable employees or employee accidents. Turn on, turn off, turn up or turn down as I see fit. And scale, scale, scale.
So based on my past experiences I have started a cheat sheet to quickly assess whether or not a business or idea has the potential to work for me . This list is incomplete and I am attempting to keep each rule to about 2 sentences. Hey it's a cheat sheet not a manifesto.
The first 5 are the no gos. The second 5 are things with star qualities I look for based on past experiences and lessons.
Please feel free to share yours or critique mine:
Every rule here has a purpose for me based on past experiences. Thanks for reading.
We like to think because we have nice offices, 5 or 6 figure bi weekly-payrolls and manage binders full of women
that we own credible business systems. At least that's the lie we tell others.Many of us are glorified, freelance employees that happen to sign our own paychecks. Meaning our businesses require our presence and constant input to survive.
Personally (after learning what true fastlane businesses embody) I would now trade it all for a business I can run from home.
A one man show, no glitz or glamour.
Zero employees to manage. Virtual Assistants or Contractors on an as needed basis. No Payroll or payroll taxes. No unpredictable employees or employee accidents. Turn on, turn off, turn up or turn down as I see fit. And scale, scale, scale.
So based on my past experiences I have started a cheat sheet to quickly assess whether or not a business or idea has the potential to work for me . This list is incomplete and I am attempting to keep each rule to about 2 sentences. Hey it's a cheat sheet not a manifesto.
The first 5 are the no gos. The second 5 are things with star qualities I look for based on past experiences and lessons.
Please feel free to share yours or critique mine:
- If you cannot control the price and profit it’s a definite no go.
- If you have to incorporate too many systems (or parts) to make it work then it’s too complex and vulnerable.
- If you cannot train someone or hire someone to manage aspects of it fairly quickly to free your time. No GO
- If any part of the business’s policy and procedures or org charts have to be approved by state or local government it will be a pain in the a$$ to keep them happy. After all these are employees instructing you on how to run your business.
- No payroll employees unless it is absolutely necessary. Which it won’t be
- Scalable and not limited by geographical limitations. (Winner)
- Low cost of entry (winner)
- Doesn’t require my daily presence (winner)
- Customers are willing and able to pay more for more value when you include it (winner)
- No a$$ kissing to build solid relationships (winner)
Every rule here has a purpose for me based on past experiences. Thanks for reading.
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