From $575k in 2018 to $1.1M in 2019. Now what?

[MatthewFoster]

Then you don't have business.
Learn how to turn it into asset.

Can you explain?

 

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[aeden]

Can you explain?

I think he means that if you are exchanging your hours for dollars then you have a job. You're working in the business, not on it.

If you aren't already, start developing written processes for the work you are doing yourself. Execute the processes. Then train someone else to execute the processes. Train and mentor them and then give them your job. Keep doing this until you've put yourself out of a job, but you are still taking home the profits. Or alternatively reinvest the profits and scale your business if you'd prefer to grow the business.

 

[Kid]

Can you explain?

I think he means that if you are exchanging your hours for dollars then you have a job. You're working in the business, not on it.

If you aren't already, start developing written processes for the work you are doing yourself. Execute the processes. Then train someone else to execute the processes. Train and mentor them and then give them your job. Keep doing this until you've put yourself out of a job, but you are still taking home the profits. Or alternatively reinvest the profits and scale your business if you'd prefer to grow the business.

Matthew, aeden's explanation is it.

It also reminded me of Greiner Curve and that you've hit the first crisis.

Basically its the crisis of leadership when you have to change from "direct"chief to chief of managers.

You can read about it here The 6 Stages Every Organization Goes Through as it Matures