Start a self-employed business
Here’s a quick test that will help you determine if your business is running smoothly. You only need to ask yourself this question: Would someone buy my business and take it over? The purpose of these questions is to determine if your business is profitable and functions as intended. A business that is less dependent on you will be more valuable because it’s stable and can be scaled easily. Everything you need to know about growth before you can grow your business
Processes can burst due to growth. What was once a good idea now has a lot of bottlenecks. This is because more business owners have to make decisions. If you don’t make changes to your work process, the growth will be unsustainable and only make things worse. This book will teach you everything you need to know about how to avoid common mistakes that business owners make when growing their businesses. We are grateful that you have subscribed! All newsletter subscribers can download this (and many other ActiveCollab Project Management Guides). Download the Ebook We are unable to subscribe you at the moment. Please double-check your email address. If issue still persist, please let us know by sending an email to [email protected] Try Again If you (or your buyer) want to scale a business, that business needs to rely on processes instead of individuals. These are the questions you need to answer: How can I get my business working without me?
How can I get my team to work without me?
How do I set up my business to be reproduced in unlimited numbers?
Keep in mind that not all businesses are the same. Some businesses are more process-friendly and therefore easier to scale. It’s easier to grow a restaurant than it is to grow a web development agency. It’s easier to scale a restaurant than a web development agency. This is because it’s easier to standardize and find workers. However, it’s more difficult to train and standardize knowledge workers in industries that rely on them. It’s possible to train someone to flip burgers in a matter of hours, but it will take much longer to train someone to create software according to your shop standards. Highly skilled people are highly sought after in the market. Even if you rely on highly skilled people, that doesn’t mean you can not grow your business. You only need a system that can make competent developers produce great results. Businesses that rely on superstars have to worry about how to keep their people motivated. What if they leave? When creating a system, think about the end goal. Imagine what your business will look like in 10 years. Then, imagine how it will look in the present. Begin by thinking about the market purpose of your business and how it makes money. It’s not necessary to go into detail about how it works. The technician in you might be tempted to jump right to the nitty-gritties of delivering a product but it won’t help you set processes.The point of the exercise is to figure out:How can I give my customers results that are systems-dependent rather than people-dependentInnovate-Measure-Standardize cycle
It is your responsibility to ensure that your business works without you being there constantly. You will need to go through the Innovate–Mea process to develop the prototype.