In my mind… the best way to run a business is to take a systematized approach. So what we have found is that by systematizing your business you are able to flip the odds in your favor. Data shows that only 5% of Franchised businesses fail when they follow the systematized franchised business model. Now compare that with independently created small businesses that have a 96% failure rate. See how these are nearly exact opposites and completely flipped?
The categories we show here and that divide up all of the content on this site are focused on helping you master the 6 areas that we think all businesses must master and systematize to create real success in business. By doing so, you are not only running and managing your business better, but you have started to boost the value of your business. If you get 80% proficient in all 6 areas you have basically created your own franchise and this becomes very attractive to outside investors because the business just works and can work without the owner.
Here are the 6 areas in a graphic form showing what we call the small business “wheel of business”. Early on everything revolves around you. As you dial in these 6 areas, these areas start revolving around the business instead of you. In our opinion, that should be your end goal.
Strategy is all about Working ON the Business and covers all things related to strategic planning, goal setting, forecasting, projections, systematizing the business, and all the strategy focused work.
Mindset covers all things related to Personal Development – healthy thinking, positivity, the health of body, mind, and spirit. Anything fostering a Growth Mindset, the right beliefs and habits to become a top performer in leadership and business management.
Sales is all about Communicating Value and covers all things sales and business development – things like prospecting, pipeline development, forecasting, closing deals, sales training, sales coaching, sales process, sales methodology, sales management, social selling, cold calling, habits, tactics, overcoming self-limiting beliefs, and how to move prospects through the sales funnel.
Marketing is all about Creating Awareness and covers all the ways to get your name out into the world and in front of your prospects. These topics could be positioning, branding, design, online content (inbound) marketing (blogging, video blogging, podcasts, social media, etc), or outbound marketing (direct mail, advertising, trade shows, radio, TV, billboards, etc.).
Operations is all about Servicing Customers and covers everything related to building products or services, delivering your products/services, doing the daily work the business is built on with the main focus of creating happy customers.
Finance is all about Cash Flow Management and covers all things finance like inflow and outflow of cash, bookkeeping, accounting, taxes, billing, collections as well as other areas like Human Resources (HR), Information Technology (IT), and Administrative things you do to run the business.