How to work on your business, not in it | Summary and Q&A

TL;DR

Learn how to achieve business decentralization and escape the frustrations of being stuck in the freelance rat race, leading to exponential growth and the ability to work on your business rather than in it.

Key Insights

• 👨‍💼 Business decentralization is key to achieving exponential growth and freeing up time to work on, rather than in, your business.
• 💨 Simplifying your business and eliminating waste are essential steps in paving the way for decentralization.
• 😥 Automation and delegation provide the necessary tools to remove yourself as the central point of control and attention.
• ❓ Standard operating procedures (SOPs) are crucial in delegating tasks effectively and ensuring consistent performance across the organization.
• 👨‍💼 Business owners need to be willing to invest time and effort initially to build a decentralized system that can function independently in the long run.
• 📜 Clear communication and well-documented processes are vital for successful delegation and decentralization.
• 👨‍💼 The shift towards decentralization requires a mindset change from "running my business" to "running a business" to enable growth and scalability.

Transcript

you have a business and you work very hard but no matter how hard you try you stay plateaued and leveled at the same level of Revenue you haven't experienced exponential growth and everything in your business requires you to run it's frustrating because you haven't got time and energy to work on your business you're stuck in it and in this video I'... Read More

Questions & Answers

Q: How is business decentralization different from traditional freelancing?

Business decentralization involves removing yourself from the day-to-day operations and creating a system where your business can run smoothly without your constant control and attention. Traditional freelancing often requires you to be involved in every aspect.

Q: What are the four steps to achieve business decentralization?

The four steps are to simplify your business, eliminate waste by removing unnecessary tasks, automate processes using technology, and delegate tasks to competent individuals following standard operating procedures (SOPs).

Q: How can standard operating procedures (SOPs) help in business decentralization?

SOPs provide clear instructions and guidelines for tasks to be performed within the business. They allow you to delegate tasks while maintaining consistency and efficiency. SOPs serve as reference material, reducing the need for constant guidance and support.

Q: How do you differentiate between tasks that require your attention and those that can be delegated?

Focus on tasks that directly contribute to the main goals and objectives of your business. Determine the critical tasks that require your expertise and cannot be easily replaced. Delegate tasks that can be learned and performed efficiently by others, following SOPs.

Summary & Key Takeaways

• The content discusses the importance of decentralizing your business and escaping the limitations of being heavily involved in every aspect.

• The speaker shares his personal experience of building a multi-million dollar business while working only four hours a week.

• Four steps to achieve business decentralization are outlined: simplify, eliminate waste, automate, and delegate.

• The creation and implementation of standard operating procedures (SOPs) are emphasized as crucial in delegating tasks and ensuring smooth operations.