7-Core Systems for a Successful Online Business
Being an entrepreneur is a real adventure that sometimes takes the turns of Survivor! (Do You remember that show) Most of us are idea-making-machines that find it hard to settle; even relaxing is hard. And with so much information available to us, we stop on our track for fear of missing out or messing up. Sound familiar?
Furthermore, somehow in the corporate rat-race-culture that has dug deep in our society, two misconceptions about success have permeated our mindset so deeply that we just have to feel stressed and overwhelmed:
– Misconception #1 we have to have it all perfect to launch a business or an offer
– Misconception #2 if we don’t look busy all the time we are wasting time
And if you are a parent, it get’s even worse because we want to be perfect and full-time moms and dads too. So the tension escalates.
Could we have it all without having a heart attack?
Yes. I have found that creative competitive minds thrive on having significance beyond their immediate family and that is perfectly acceptable and even noble. If there were no people wanting it all and giving it all, we wouldn’t have all the convenience around us from toilets inside the house to the device where you are probably reading this.
Now that we’ve settled that, it’s understandable that we have a non-stop nature; we should be training ourselves to achieve certain balance in life (work is part of life by the way) not only to avoid the heart attack but to be ready to act when once in a lifetime opportunities come to us.
According to Forbes*, the biggest stressors for business owners are
#1: Lack of Control
#2: Reacting Too Soon & Too Fast
#3: No Time to “Do It All
And according to a survey by Bank of America*, evidence shows that the owners surveyed claim they regularly give up free time (57 percent), exercise (37 percent) and other personal priorities to manage their businesses.
Are business owners destined to live in overwhelmed and stress?
Do you have to be hustling to have a successful business?
No. You do not need to be hustling and working even more and at a less pay that in your 9-to-5 job, but core systems in these 3 areas are of the utmost importance to create the business of your dreams:
1. Systems in place to regain control of your business so that you can be proactive and not reactive
2. You have to be open and willing to automate and delegate when possible to reclaim your time.
3. Set metrics in place to adjust course accordingly. “If you can’t measure it, you can’t manage it.” Peter Drucker. Furthermore, if you cannot measure your progress, your results, you cannot change what is not working.
How have I launched businesses in 90 days, sustained them and even sold some?
The short answer: a brand, an active list of clients, and duplicable processes are core system for a successful business online or off.
Where I see entrepreneurs stumbling over and over is in having clarity about:
1. What they want to do
2. How they want to deliver
3. How they want to be perceived
4. What are they willing to sacrifice
5. What are non-negotiables
6. How will they define success in terms of time and money
7. What would they be willing to learn, pay for, or delegate?
8. What do they want their future customers to do on the first encounter?
Uncertainty on the above, make the decision-making process long and arduous. The more decisions the human brain has pending, awaiting resolution, the less willpower and clarity we have throughout the day to make the right choices. This leaves us depleted at the end of each day.
These are the systems that have helped me reinvent myself, launch companies in 90 days or less, turn-around to profit multimillion dollar companies in less than 12 months and shrink my 60-hour workweek to 30 hours without affecting the bottom line, aka net income. In specific order these are imperative systems to have to create a sustainable business:
1. Ferocious clarity system
2. Personal Weekly Schedule System
3. Branded platform
4. Networking system
5. Busy-work systems
(a) Team Communications System (even if it’s only me. This is critical to set from the beginning if you have family & friends that you care to preserve relationships with.)
(b) Income and expense tracking and monitoring system
(c) Editorial calendar for promotions, events, networking, launches, selling campaigns
(d) Content management system
(e) Leads Generations System (different from your Networking System and the one that will bring the money)
(f) Social Media Management System (take note how far below I have placed social media)
6. Product/Service Delivery System
7. Customer Retention Program
Why do entrepreneurs fail?
Many (aka most) new entrepreneurs and business owner building a business online, from their garage or their kitchen tables, are mistakenly focusing their attention on:
1. a brand
2. consuming precious time on social media,
3. developing ideas based on what may seem working for others or based what is going viral, or on loose ideas about what certain public may be wanting.
The consequence of following that order is that you are following a trend and not leading. Even worse, the direction taken may not be the one you truly want or need. I have found that this is the main reason entrepreneurs quit on their effort. When we lack clarity about where we want to be and have not put the right systems in place to get there, we are burning not only resources but our own resourcefulness. We don’t get sustainable results in that scenario. Therefore, we end up exhausted and frustrated.
In the past decade particularly, I have found, amongst only my clients, astonishing the amount of money spent on logo’s, products, websites, domain names, graphic design, courses, and outsourcing that ended nowhere. That’s not even counting your valuable CEO time invested in half fail attempts.
It is important for you to understand the table shared below if you want to make your next profitable offer successful. And by a profitable offer, it may be a new business, products, or service, but it has to be one thing with a specific dollar amount that it’s going to bring you revenue for the next year. Yes! You read it right: the one thing you can commit for 12 months no matter what. Your stage is for you to shine but the magic happens backstage.
And by know you are probably asking yourself “but how do you do it?”; this is a basic blueprint of my core systems for you to get an idea that a real business online or off requires a backbone that holds it together. There’s no easy business and you are not going to make 6 or 7 figures in a month or year without the time, money and properly structured systems. I can guide you through the right steps so that you don’t waste your resources and burn out your resourcefulness.
Back to Forbes, the biggest stressors for business owners are
#1: Lack of Control
#2: Reacting Too Soon & Too Fast
#3: No Time to “Do It All
The right systems implemented in the right order will
- give you back control
- Will make you proactive so that you can leverage the right opportunities
- You will have time to do what matters most
And in the process, you will see results, which will be the biggest motivator to keep building the business of your dreams with Purpose, Perseverance & Passion!
Comment below with any questions about any of the above.
Now, the question is “Would you like to make all this relevant & real to your specific situation?”
I invite you to book a complimentary strategy session with me to make sense of all this for you, no theories, no fluff, but an action pack session to move you closer to where you want to be.
There’s so much to do so little time, so stop wasting time browsing answers online and get someone that knows what she’s doing (yours truly) and pick her brain.
Are you overwhelmed with all that is required to have your business up and running?
Is deciding on the perfect idea for your business have you frozen in your tracks?
Let me help you break it all down to steps so that you turn your Idea2Profit.
Book your Strategy Session here
Resources: Forbes https://www.forbes.com/sites/nicoleleinbachreyhle/2014/10/13/common-stresses-relieves-small-business-owners/