Are you a slave to your business?
Are you a slave to your business?
If so, you probably feel that the business can't move forward without you, and it might be consuming too much of your life.
And you know what?
You deserve to enjoy life, spend more time with your family, or have time to improve or expand your business.
In this article you will learn how to stop being a slave to your business, and start enjoying the fruits of your labor.
Step 1: Recognize what type of entrepreneur I am.
Recognizing this is the first step to initiating a change in your reality. The type of entrepreneur you are will depend on how you use the most valuable and important resource we all have in our lives, Time. There are 2 types of entrepreneurs, depending on how you use your Time you will be one or the other.
In summary, to be a Free Entrepreneur you must meet an essential requirement: generate monthly income constantly regardless of whether you are working or not.
Why do we become Slaves Entrepreneurs?
Because we have convinced ourselves that if we are not in charge of everything, things won't work. The owners of small and medium businesses actually end up becoming "self-employed". Investing all your time is not healthy.
Believing that the more time you dedicate to your business, the greater the growth of it, is a totally false idea. At the beginning of every endeavor, it is necessary to plan and strategize to sell, a task that probably consumes a lot of your time, but as you progress, it is necessary to get your products to sell even when you are not present.
If you have to dedicate all your day to generate sales, you are really not the boss.
Step 2: Simplify and Delegate
This is the key to start being a free entrepreneur.
Delegating gives you more free time, but you can't delegate a complex business, especially if you have inexperienced workers. It is necessary to Simplify before Delegating.
How to start Delegating?
Nothing is difficult with the right tools. The tool in this case is to have a Work System where two main aspects are controlled:
1. The Amount of Products, in all your warehouses and stores.
2. The Sale of the Products, in all your stores.
Controlling both things, you can prevent theft in your warehouse, or in the stores when you Delegate Direct Sale to a worker.
The secret is to Simplify before Delegating.
How to simplify your business before Delegating?
The most used tool in the world to control merchandise and sales in a business are Management Software or ERP, which exist in many varieties, functions and prices.
It is important to analyze well which is the most suitable Software for the reality of your business, because it has to adapt to the particular functions of the business sector you have. It is not the same Software for a Hardware Store than one for a Restaurant, because each sector has products and sales processes that are different.
Not only is it a matter of hiring a company that only sells you the Software of the sector you need, but also one that is willing to accompany you in the process, and provide you with the necessary support so that the day arrives when you can Delegate the sale in your stores.
Many companies have already achieved it!
Their secret?
Simplify before Delegating, using a Management Software as a key tool.
Step 3: Use the extra time gained to increase your income.
After having Delegated, you will have extra time that you can use according to your convenience.
• In your life, you could dedicate more time to yourself or spend more time with your family, and maybe this is the real reward for all your effort.
• In your business, you can use this extra time to make more money in your business.
How to use the extra time to make more money?
This will depend on how much you could delegate in your business. If you delegated basic functions such as public sales, use the extra time to improve the Supervision of sales, expenses, and the work of personnel in your business. This is the first level.
On the other hand, if you managed to delegate Supervision and Administration functions, you can focus on what really makes a company grow, Innovate. This is the second level to improve the gain, and the most powerful. There are TWO levels to improve the gain. SUPERVISE and INNOVATE
Level 1: Supervise
Supervision is the first step to increase the gain, it is key for the Work System that you have created to remain strong, and thus have time to analyze how to Boost Sales (Income), and how to control the Generators of Expenses (Expenses). By doing both things, you will increase Profit in your business.
With this level, you can dedicate more time to Supervise the work of the employees, and control the expenses, so that the income is greater than the Expenses.
Level 2: Innovate
Innovation, in simple words, means developing a value proposition that convinces a specific audience to buy from you and not from your competition. Innovating will allow you to increase the profit margin in your business, because by Innovating in Sales you will increase the Income, and by Innovating in your Work System you will reduce the Expenses. By doing both things, you will increase Profit in your business.
Some examples of innovation:
• Import products directly and do not buy them from local importers.
• Significantly improve the appearance of the stores, and the quality of the service.
• Increase the diversity of the products offered.
• Create the Virtual Store and manage it directly with an ERP system.
• Create an App for your products that really helps your customers.
Follow the path of growth, and think big.
BE A FREE ENTREPRENEUR!