There are Five Phases a business owner must go through to reach the financial freedom they desire:
Phase One: Develop consistent cash flow with a highly effective sales & marketing system
Phase Two: Put the management tools in place so you can get back in the role of visionary leader
Phase Three: Ensure your financial house is in order, you are on top of your numbers and properly managing the company risk
Phase Four: Streamline, automate and leverage everything!
Phase Five: Put your personal financial house in order and plan for your exit so you can do it all over again (or not!).
Why most Business owners never make it out of Phase 1:
- They don’t have a profitable product or viable business model (ie, they want to make a million dollars doing free workshops for teens)
- They think they can have a four hour work week, and are not willing to spend time on their company (The personal trainer who only wants to work Tuesdays from 2-4 and Fridays 9-11, yet wants to make $50K per month)
- They don’t know how to speak about their product or how to sell it (they are unclear and lack confidence in how their product actually solve problems for people and why it’s important)
- They hate “sales and marketing” and so they avoid it altogether
- They act like an employee doing only what they love, rather than being a visionary CEO that builds a company for true financial freedom and making a difference
And so they:
- Get overwhelmed and burnt out doing it all themselves, stuck on a roller coaster of hope and despair
- Run out of cash, spend all their savings, get up to their ears in debt, and become totally financially stressed
- Lose their passion, lose confidence in themselves, and start making poor decisions out of desperation which accelerates the downward spiral
What they need to do is:
- Step back and map out a clear plan for how their business will serve the world in a bigger way (beyond just serving their clients)
- Create a product that solves a problem for customers who are craving an immediate solution and already spend money trying to fix it
- Become disciplined in their actions, in control of their time and learn how to patiently build rather than chasing shiny quick-fix programs
- Get the tools they need for successful business management and free themselves of the day-to-day operations, and…have a great time!!
You don’t have to figure it out yourself. I have tools you can use that will save you decades of time and tens of thousands of dollars figuring it out yourself. Leverage me!