Are You Building A Lifestyle Business? & Overcoming Roadblocks

 

0:22 – What kind of business is your business?
1:20 – Turning your business from a hobby to a lifestyle
2:08 – Reducing the amount of roadblocks
2:34 – Systemising is the new fashion for 2013 success

Hi, Fiona Lewis here from Super Savvy Business. I’m here at a conference for the past few days, learning about some really exciting things! This is what I do as an entrepreneur – fill my head with lots of new knowledge.

Anyway, let’s get on to this week’s business news update:

0:22 – What kind of business is your business?

One thing that I see a lot of business owners make as a mistake and as an entrepreneur is that they have the wrong type of thinking in their approach to their business. There are 3 types of businesses:

  1. The first one is a hobby. Some business owners treat their business very much like a hobby, a part-time thing.
  2. Then you got the sort of people who end up building themselves a job where they are actually held into their business and they don’t have freedom or a lifestyle.
  3. Then we have got the type of business which is a lifestyle, and this is what the majority of us are trying to build; the sort of business that is flexible and that is going to provide financial freedom without completely ruling your life.

The only way to build this sort of business is to create a business that is bound around systems. You need to make sure that you are not the one in the center of your business. You need to be focusing on being a leader and somebody who is trying to come up with new ideas for the business.

1:20 – Turning your business from a hobby to a lifestyle

You see, you are the most important asset to your business and you are nBuilding a lifestyle businessot doing yourself any good if you are the one ‘doing the do’, going to do the mail and doing that time consuming and repetitive tasks.
So, what can you do about this?

First of all, start by recording everything that you are currently doing in your business and most importantly, everything you know you should be doing. These are two very important lists. When you’ve done that, you need to be pulling out the things that you must do, the things that are going to be making you money and then separating yourself from everything else.

Work on developing systems and get a team around you so those people can be doing the less important things so that you can be focusing on the things that are actually going to be growing your business and making you more money.

2:08 – Reducing the amount of roadblocks

Of course, the other beautiful thing about having systems in your business is that you are going to reduce the amount of roadblocks when it comes to your employees or your contractors. At the end of the day, you want your contractors and your employees to be able to make a decision.

Every problem should have a ‘Yes’ or ‘No’ answer, but if there is no system built around it, how can they know the best way forward? They need to know exactly what your values are and the sorts of ways that you want your business to be run.

2:34 – Systemising is the new fashion for 2013 success

So this really ties into what I spoke about last week when we’re thinking about planning for 2013. If you haven’t already got this type of thinking in place – thinking about systemising your business and really developing it into something that is the lifestyle business for you, then make sure you put that into your planning now.

Start making those lists, start thinking about processes & systems so that you really can start to withdraw yourself, become the true asset you are to your business so that you are making money.

My name is Fiona Lewis from Super Savvy Business with this week’s business news update.