How To Build Your Business So It Can Run Without You And Scale

published on August 2, 2020

– World's number one small business guru and the author of the book "E-Myth", Michael Gerber talks about that, most entrepreneurs, they are not actually entrepreneurs They are technicians with an entrepreneurial seizure Meaning suddenly they are working a job, they're doing something,

And then the entrepreneurial bug just bite them, and they're like, you know what, I can do better than this, that I should go out there and start my own business And what happens is then you have a plumber starting a plumbing business, or a chef starting a restaurant business

So they understand the technical aspect of a business, how to do the technical work, but they actually don't have the necessary skills of a business owner of an entrepreneur on how to actually run a business So then what ends up happening is

They get busy and busy, busy, busy, and doing it, doing it, doing it, doing it And they never understand how to build a business What Michael talks about that most entrepreneurs, they spend way too much time working in their business, but not on their business

In fact, that recently I've had the honor of having Mr Michael Gerber and his CEO, his wife coming to my training, mentor, learning from mentor and Michael has not attended anyone's training for 30 plus years And Michael's work has had such a profound impact

In business career that I am happy that I'm able to share a couple of key insights with him that has helped him as well So here's has what he has to say – It has been totally amazing, my husband never sits and listen to speakers because he's the big mouth,

He's the speaker, and I am so proud of you Michael, to sit here and listen to Dan, it's totally amazing – One thing he said at the very outset of today was about the personal brand, and it struck me so hard because I've been speaking for 50 years about the impersonal brand

Dan to know and I want you all to know that from this point forward, it will be me sharing my name, my message, my meaning to everybody worldwide in ways that are just absolutely astonishing – In order to build a business that runs without you, day one, your intention must be building a business to sell

Even though you may never sell the business, but day one, you need to plan, you need to structure your business in such a way that, hey, if I'm going to sell it someday, what would that look like? Right, what do I need to do differently?

Well, one thing for sure that you know, you can not just be the one that's doing and doing and doing That's just driving the business Yes, in the beginning you have to be the driver for the business, same as me,

But later on, what does that actually look like? What does the end product look like? Meaning what does your business look like when it's done? That's correct, you have to have a picture, what does your business look like when it's completed? When it's finished, when someone can step in

And actually take over, even though you may never sell the business, but what that means is if you could build your business in that way, that automatically makes your business more valuable So when you do want to retire,

When you do want to have a successful exit, cash in, you could do that, even though you never do that just by thinking and structuring and building your business in a way that is sellable, it makes the business more scalable, it makes the business more efficient,

That gives you more freedom, freedom to do whatever you want Maybe you want to use the free time to start another business, maybe you are a serial entrepreneur just like myself, or maybe you want to focus your time

On building your investment and taking some of the profits and grow your portfolio, or maybe just want to spend more quality time with your family, but now you have a choice you're working in the business not because you have to, but because you want to because you enjoy it

But you know that you can also step away if you want to as well, that's what we need to do You see the nature of business, technology and people and the world that we live in, it means that there's always a degree of unpredictability that is very, very normal,

But most challenges, most problems in business usually they are not a one-off event So if you find yourself solving the same problem in a business again and again and again, and again, usually it is a sign of lack of business system in your company

As a CEO of your company, you don't want to confuse what you don't want to do with what you need to do Yes, I am a visionary like yourself as well, I like a big picture, I get it But someone, it could be you or someone within your organization better know how to create systems

One of the most powerful mindset shifts that you need to have, is instead of asking what I need to do, ask yourself, how do I solve this problem not once, but forever? You must realize that business is an intellectual sport That in order to create a different result,

We have to think differently That means that we have to ask ourselves a different set of questions So let's talk about exactly what is a system Regardless of what business you're in, there are best practices,

They're best ways of doing something that have the highest chance of bringing about a particular result that you want consistently So if you look at the best practices and you're identify those steps and you break it down into things and in ways

That could be written down, that could be illustrated, that could be document, that could produce those results again and again, that is a system, it's that simple Think of it like baking a cake, right If you want to bake a cake, you want to have

The same flavor and same taste all the time, right There is a recipe that you know exactly what ingredients and how much ingredients and how long you want the cake to be in the oven, right? There are steps into doing this and you could illustrate the whole process in a recipe,

In a checklist, or maybe even a grocery list of where to get those ingredients in order to create that cake consistently, you to have that consistent performance and outcome Well, that is a system, it's that simple Don't over complicate it

And in business, there are many, many, many forms of systems, I don't want to go into too much in depth because that would be a long, long video I'm just going to give you at the most basic level, three types of systems

First, hard system, hard system means it's what something looks like visually, what it looks like Your logo is a hard system, right, if you walk into a store in McDonald's, you see a certain theme, the decoration that is a hard system, a uniform that is a hard system

If you are a web designing company, your template, that is your hard system If you are a digital marketing company and you built funnels for people, that funnel template, that is your hard system Something that you could replicate

And duplicate for other clients Then number two, you have what I call soft systems Soft systems meaning what something sounds like, example, it could be how you greet a customer, how you handle complaints, how you sell, how you upsell, how do you cross-sell,

How you communicate with your prospects, your closing script, that is a soft system Now, every single time your sales person gets on the phone and just says whatever he feels like, aah, I'm just, he's just winging it, well, that is not a system and depends on his mood,

Some day he closes well, some day he doesn't close so well That is because you're not giving him a system to follow Now, I'm not saying that you have to give him a script to follow word for word, and he's talking like a robot, but there should be some standard questions,

Some standard script that you know, kind of an outline that he's going to follow every single time he gets on the phone and close somebody, that's a soft system, that's how you get predictable sales You don't want, if you have a team of 10 sales people, you don't want all of them close differently

Yes, they have their own little style, but they should all follow the same soft system And third, you have information systems When I say information systems, I'm referring to your standardized processes and reports So if you have your KPI report,

Your key performance indicator report, that is a form of soft system, your training program, that is a form of soft system For example, within our organization, we have a 30 day onboarding process for team Dan Lok, any new hire that we hire, they go through a 30 day process

That immerse them into our culture, our core values, our mission, what we about what we are not about, how we do things, so that we don't have to manually train someone all the time They're going to go through this process, there are different assignments,

There are books that we recommend to read And in 30 days they can then hit the ground running very, very quickly, then all we need to do is just integrate them with whatever that we are working on and they could get started very, very quickly

Because think about this, people come and go and that's life But the jobs that people do will remain even though those people are no longer with you Isn't it a lot easier to find someone to fill that position, if you have systems in place,

Someone could hit the ground running, versus what most business owners do and this is what I used to do, I made that mistake That when someone leaves right, their capabilities, their skill sets all going with them, and now you have a void

Now you need to start from scratch, you hire the person, you spend a lot, a lot of time training that person, right, very, very costly, versus every single time someone leaves your company, it creates a huge burden, it creates a massive amount of chaos,

That you got to clean up that mess and you got to go in every single time to be the hero to save the day, you do not want to do that Thing about this, how most business owners operate, think a bit like a car right, without systems, what you do is every single time you're going to hire someone,

You're going to have him or her, or you build this car together, right, and you going to teach that person how to drive And finally, after a long period of time, you've got a car and that car is kind of going and the driver is there, but the problem

Is when they leave with our systems, they take the car with them, they take their skills, they take their resources and capabilities all with them, Now, guess what? You got to build another car again, you got to find the person, you got to work together,

You got to build a car before you have something running versus, think of the car as the system And if a driver has basic driving skill, you could bring somebody to drive that car, so you lose a driver, okay, you lose a driver,

Kind of sucks, but you still have the car, that's the system, you could bring another driver who has some basic driving skill That person just kind of needs to learn, get familiar, okay, well, this car is a little bit different from my last car and my last job,

But the mechanics are saying right, kind of the basics are same, all I need to do is just kind get familiar with just the feel of the car, that person can get up to speed so much quicker, versus someone takes the car with them

Every single time you lose someone that is very, very costly So the system would run the business and your people would run the system, that's how you build a business that runs without you, a business that scales

And air free level is an other devil What got you to a $100,000 a year in revenue, won't get you to 1 million What got you to 1 million, won't get you to 10 What got you to 10, won't get you to 30 million and beyond because the very team, the very same team

That you have at a $100,000, won't be the same team at a million, and it won't be the same team at 10 million, and it won't be the same team at 30 million What you need to focus on as an entrepreneur, as a business owner at every stage of your business,

They're completely different, and that's the challenge most business owners face They don't know how to shift from an entrepreneur to a CEO If you want a proven path of exactly what you need to focus on at every stage of your business growth,

And also, how do you shift from the entrepreneur to the CEO? How do you wear the CEO hat? You could download our Dragon 100 Path with the link below – Dan's a force of nature – He's improved arguably millions of lives, where they can provide themselves with more money

His materials are great, excellent he's at the top of his game – For everything he says has a purpose and everything he does is done with heart – So what I've seen from Sifu Dan Lok I didn't see us from anyone else, he's done it,

He's been there and he's still doing it – Because of Dan Lok, my revenue went 30% up – I actually get like a clearer picture of how I should run my business I can feel it that he really want to help his student – Start taking hold of more advanced strategies,

On building our brand and creating content, leveling up our team – In an environment where I could actually be around people that were going to support that, encourage that and hold me to a higher standard – Dan is a great mentor to get you not only

In the right frame of mind, but then to give you the knowhow, the tools, the skills to get there – If you will just follow his advice Go step by step according to his blueprint, you will achieve results more than you can imagine about

Related Videos

from daily forex this is chris taking a look at the uh bitcoin market here you can see that we have uh found the market to be bullish we have broken above the ...
James fake revenue at deutsche bank has risen by 47 in the third quarter has this good momentum continued in the fourth quarter as well look we're continuin...
from daily forax this is chris taking a look at the um us stock indices this is the s p 500 and you can see that the s p 500 has uh rallied quite a bit did pul...
The capital position now and the confidence you have to deploy that dividend well indeed we have uh we've had a uh a very strong quarter um in which uh you ...
Hi everyone my name is adita and a few years ago i got divorced and became a single mom of two kids and that's when i started to look for ways to invest my ...
Have you ever thought of the true value of gold I mean really the value of something isn't its price it's what you can buy with it that is the true valu...
Hi this is vlad from effects empire euro dollar failed to settle above the resistance at 1.1870 and is trying to get below the support at 1.1830 if this attempt...
from daily forex this is chris taking a look at the uh crude oil marking cwti has gapped a little bit lower and then basically did nothing so uh at this point ...
Rupert what does this all mean for for equities but in general actually asset classes would you buy right now yeah so we are still broadly constructive on risk ...
Today I'm looking back at the Tesla stock on March 17th I did an analysis based on my ambassador diamond analysis the IDB a and I suggested that after its s...
The thing is if it's a legitimate expense and you are legitimately working from home take it you're literally throwing money leaving money on the table ...
from fx empire this is chris taking a look at the euro dollar and you can see that we are reaching above 118 as new york gets on board and perhaps trying to ma...
from daily forex this is chris taking a look at the euro and the pound you can see the euro has fallen a bit during the trading session here on friday as there...
The crude oil price has had a great recovery off those april lows but it does appear to be struggling over recent weeks so given the resurgence of the coronavir...
The recovery in silver continued into july and in the last week uh the price went somewhat parabolic moving from 19 up to 26 and you can see the sort of volatil...
Now one of the things that almost all millionaires have in common is they have exceptional I mean exceptional communication skills because they recognize that c...
Hi this is vlad from effects empire silver is currently trying to settle above the nearest resistance level at 23.30 if this attempt is successful silver will g...
from daily forex this is chris taking a look at the gold and silver markets you can see gold has smashed into this little short-term downtrend line that i have...
So tell us a bit more about the survey what what are your clients telling you about the lessons learned from this pandemic and what does it tell us about the fu...
At first glance ichimoku charts um can seem somewhat intimidating with a lot going on when we're looking at markets but they're also a really powerful w...