Fast Company

If You Feel Like a Prisoner in Your Business, Here's Your "Get Out of Jail Free Card

You won't believe the conversation I had with a successful business owner.

The owner has made millions of dollars. He lives in a beautiful home in one of the richest neighborhoods, and do you know what he told me?

He told me he wants to quit! He wants to get out of his business.

He feels his company has robbed him of his life. He feels like a stranger to his family and he's tired of the constant hassles with customers, vendors and employees.

Do you ever feel this way? Do you ever feel like you are missing out on your life because you're stuck running your company?

Sad to say, this story illustrates a scenario being played out by businesses owners everywhere. You work hard to achieve your financial success, and when you look back on your life you have regrets.

It doesn’t have to be this way. All you need is a slight adjustment in the way you manage your business and you can work less and less and make more money. All you need to do is to apply a simple formula that's so powerful I gave it a name.

I call it the "Win Big Formula:"

To succeed in business you need to standardize
every aspect of your day-to-day operations
including an effective leadership routine.


Think of this formula as your Get out of Jail Free Card. It suggests you standardize your business until you become irrelevant to your company’s day-to-day operations and while still maintaining your high standards of performance excellence.

Do you think it’s possible? Do you think you could ever become irrelevant to the day-to-day operations of your business? Who would solve the endless barrage of problems? Who would make sure your customers are happy?

You might be shaking your head and shrugging your shoulders in disbelief. But, it is possible.

Just think about any well run fast food franchise and you’ll understand the power of standardization. They take a minimum wage workforce and help them perform at world-class levels.

The owner of the franchise is likely nowhere to be found. His business runs itself. Odds are the business owner is resting at his beachfront home in an exotic location soaking up the sun. He’s not upset and worrying about problems. He's living the dream.

So how can you implement the Win Big Formula in your business? It's easier than you think. Start by focusing on the second half of the formula and standardize an effective leadership routine. This means that everyone in your organization needs to use a common set of management tools.

Everyone needs to manage projects the same way. Everyone needs to communicate ideas the same way. Everyone needs to document best practices the same way. Once everyone is using the same tools you will have a powerful team-language that unites your team and makes them super effective.

Once you have your team-tools in place, you're ready to focus on the first half of the Win Big Formula. Use your tools to get everyone involved standardizing your day-to-day operations. Start with simple procedure lists. Then add training documents. You might even consider using your video-camera to create a training library.

HERE IS THE MOST IMPORTANT POINT...

You need to start today. There isn't a minute to lose. If you want to free yourself from the hassles of day-to-day operations ~ and enjoy your life ~ you need to implement the Win Big Formula.

If you need help, write a comment and I'll try and point you in the right direction.

Thanks for reading!

Mike Kramer
www.onthesystem.com

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3 Comments

  • Michael Kramer

    Obviously, when you are in start-up mode you are wearing all the hats. Also, your primary focus has to be identifying your "secret sauce." However, it is never to early to start mapping out your business model. Start by standardizing processes that are easiest to delegate to part-time employees or independent contractors.

    Even if you cannot afford to outsource your work at this point in your venture you should be ready when opportunity strikes. Success can come quickly.

    If you're not prepared, you will not be able to easily delegate key aspects of your process. You'll have a very difficult time simultaneously marketing your services and fulfilling client commitments.

    As for standardizing an effective leadership routine, don't recreate the wheel. Use software like www.onthesystem.com (I helped create it, by the way.) It does the heavy lifting for you.
    --
    Michael Kramer

  • Shai

    I'm interested in how this relates to an early start-up, really freelancer moving toward start-up. How does one delegate when you are the only employee and the focus of the market niche of the business is still in the process of congealing?

  • Kristen Hammond

    Mike, great thoughts.. I agree. The best business owners and people who have the most freedom have the ability to build people and replace themselves in every aspect. The same entreprenuer who started their business started usually with the work ethic of a horse and that has gotten them to where they are at, but find out that when they stop is when their business falls, thus starting the cycle of a downturn. Then, a good business owner pulls up their boot straps, digs in (work ethic again) and puts their business back on track. If you can grab a hold of one person, and make them an expert at JUST ONE ASPECT of their business, build them, train them.. then that person and the business will succeed. have I ever felt that suffocation before? definately~! but I also know that all it takes sometimes is to build one person and a lot of beleif in yourself in order to stop that pattern. Great topic! I look forward to hearing more from you....