What’s the definition of a business system?
It depends on if we’re talking about funny business, show business, or serious business. There are all types.
But let’s focus on serious business. And though I kid, it’s nothing against the mom-and-pop businesses out there, the stores people love to go to specifically because there are certain people there who run them, know everything there is to know, answer questions honestly and conduct business with integrity. The same goes for any small business owner who operates like that.
There is, however, no way around the truth that you’re not really a business owner if that business can’t run without you. Just because you start a company and you work for yourself doesn’t mean you own a business in the entity that we’re talking about here. At best you’re a business manager, and without systems in place that repeat themselves in a multiplying effect so the business runs without you, that business could very well feel like it owns you.
The business system definition is ‘A repeatable process that produces a profit.’ If it doesn’t produce a profit, it’s not really a valuable business system. So the idea is to systemize your business so that it can work without you. Most people do not own a business, they own a job! They’re self-employed. But even if you employ yourself you’re still an employee, and like most employees, you’re probably still freaking broke, or at least you’ll never create wealth.
Some of you are probably familiar with Robert Kiyosaki and the Four Quadrants. ‘E’ stands for Employee. You have a job working for someone else. The ‘S’ stands for Self-employed. You own a company but you are the one providing the primary service. You are the primary product. Without you, the company doesn’t exist.
So the only two ways that you can create wealth are the ‘B’s and the ‘I’s, the Business owners and the Investors. Simple math. You can never get rich with a limit on your income.
If you have to be there for your value to be delivered, you will dramatically limit your income! The same problem occurs if you make your money by the hour or by salary. You’re being paid for your time. Time is limited!
I am not putting anybody down for being employed or self employed. What I would say is that it’s going to be very difficult for you to create wealth and you need to re-structure your thinking, time, and energies in a way that can produce wealth.
That’s where systemizing comes into play. The business systems approach considers the company as a system of interrelated factors of strategy, management, workers, finance, processes, procedures, products, suppliers, customers, and competitors—make no mistake, when it’s growing, it’s a frickin’ job!
But the better job you do of getting the right people in there and balancing those systems, the more vacation time you have coming with some pocket bills to boot!
Now it’s your turn! The stories of small business owners can be of great value to the Millionaire Mind community. The issues and challenges are so common it can be cathartic to share some of those insights from fresh experience. It’s your turn to share!
Want to know how to systemize your business? Free up your time, produce more wealth and create a valuable business system that can run on its own with this advice from T. Harv Eker.
How To Systemize Your Business To Run Without You
What’s the definition of a business system? It depends on if we’re talking about funny business, show business, or serious business. There are all types.
But let’s focus on serious business. And though I kid, it’s nothing against the mom and pop businesses out there. There are stores people love to go to because there are certain people there who run them. These business owners know everything there is to know, answer questions honestly and conduct business with integrity. The same goes for any small business owner who operates like that.
There is, however, no way around the truth that you’re not really a business owner if that business can’t run without you.
Just because you start a company and you work for yourself, that doesn’t mean you own a business in the entity that we’re talking about here. At best you’re a business manager. Without learning how to systemize your business in ways that repeat themselves creating a multiplying effect so the business runs without you, that business could very well feel like it owns you.
How do u run a successful business without getting overwhelmed? Systemize, Automate, Delegate. And stick to your boundaries!
— Nika Stewart (@NikaStewart) February 6, 2016
How To Create A Valuable Business System
The business system definition is ‘A repeatable process that produces a profit’. If it doesn’t produce a profit, it’s not really a valuable business system.
So, the idea is to systemize your business so that it can work without you. Most people do not own a business, they own a job! They’re self-employed. But even if you employ yourself, you’re still an employee, and like most employees, you’re probably still freaking broke, or at least you’ll never create wealth.
Some of you are probably familiar with Robert Kiyosaki and the Four Quadrants. ‘E’ stands for Employee. You have a job working for someone else. The ‘S’ stands Self-employed. You own a company, but you are the one providing the primary service. You are the primary product. Without you, the company doesn’t exist.
So, the only two ways that you can create wealth are the ‘B’s and the ‘I’s, the Business owners and the Investors. Simple math. You can never get rich with a limit on your income.
If you have to be there for your value to be delivered, you will dramatically limit your income! The same problem occurs if you make your money by the hour or by salary. You’re being paid for your time. Time is limited!
I am not putting anybody down for being employed or self-employed. What I would say is, it’s going to be very difficult for you to create wealth, and you need to re-structure your thinking, time and energies in a way that can produce wealth.
Systemizing Your Business
That’s where systemizing your business comes into play. The business systems approach considers the company as a system of interrelated factors of strategy, management, workers, finance, processes, procedures, products, suppliers, customers, competitors—make no mistake, when it’s growing, it’s a frickin’ job!
But the better job you do of getting the right people in there and balancing those systems, the more vacation time you have coming with some pocket bills to boot!
"Automate & Systemize" 3 ways to take your business to the next level https://t.co/cydJRqfooU via @Entrepreneur #BusinessTips
— SalezShark (@SalezShark) October 29, 2015
Now it’s your turn! The stories of small business owners can be of great value to the Millionaire Mind community. The issues and challenges are so common it can be cathartic to share some of those insights from fresh experience. It’s your turn to share your experience learning how to systemize your business!
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