The things to strive for and to have in place as a small business owner is having systems, which any idiot can follow (any employee).
As well as, have someone capable to step into your shoes. This also applies to your tools of trade, car, van etc. Profitability will drop however if your profit margin is sufficient you should survive!
“People who have little SELF-REFLECTION live life in a huge reality BLIND-SPOT” – Bryant McGill
Every business owner and entrepreneur has blindspots.
We do, you do, we all do.
It is impossible to have a 100% clear perspective on yourself and your business without people who you trust (and who are qualified!) giving you honest feedback.
Your team/employees, no matter how qualified or open your relationships are, will rarely, ever, give you the candid feedback you need. Read more
The 7 key factors below ALL need to be in place and strong. Otherwise keep away from it. We were told about these key factors, by one of our very accomplished business coaches. Now we are passing the knowledge on, so you won’t be caught like we have so many times before.
Each of the 7 factors of business needs to be strong. Imagine that these 7 key factors of business are actually 7 spokes of a wheel.
One weak spoke and the business will either slow or stop altogether!
However just because a business ticks these 7 Elements… Does NOT mean it’s the best.. Also consider How much Control and Leverage and the ROI and Risk.
