It's about finishing what you started, with growing your business and your original goals. It's taking your business to the level you dreamed of when first starting out, to give you business freedom and to automate growing your business - without your blood, sweat and tears.
This is about always having plenty of cash in the bank, to grow your business, and to enjoy your life without concern.
This is where you can easily hire great employees, who work hard without your supervision. This gives you time freedom.
Time freedom is when your business grows, without your time or supervision. Your employees work without you even needing to speak to them.
This is the ultimate form of freedom, where working becomes optional and you make investing your hobby. Working part time or when you want to becomes a choice.
This is one of the great Australian research projects, related to business success, that involved...
Growing a business by 20% in sales and income isn't hard, just increase the leads. Growing a business to achieve the ultimate goal of 'business freedom' and automation of growth, is completely different.
There are 7 key strategies that require attention and/or implementation to achieve the ultimate goal, and these strategies have an ideal priority order of implementation or attention.
That was discovered after 10 years of mentoring with hundreds of business owners, trying various strategies in different, or random order.
By implementing each of these strategies carefully in the ideal or 'formula' order, the business grows on a J-Curve.
Using the formula, growth can start slowly in the first few months, in the foundation laying stage, but then growth accelerates rapidly - while the owner has less and less time and energy input.
It was discovered that few businesses can handle fast growth - over 30% in revenue in a few months. In some cases, the business ran out of cash, and sometimes the owner had to work an extra 20 hours a week due to the sheer busyness of sales and work coming in.
Avoidance of stress and anything that slowed down the growth was the priority, and to see the business growth smoothly with increasing cash reserves. These were all achieved the with Freedom Formula.
THE FREEDOM FORMULA
Defining your vision provides clarity, which leads to confidence and excitement. These emotions create energy that pulls you through the challenges and changes to grow.
Energising your team with your Vision, listening to them in weekly meetings and giving them figures-based feedback on their weekly efforts, motivates them to perform.
Figures create an energy feedback of progress. They invigorate you and your team as the need for improvements are acknowledged and acted on each week.
Systems, especially job descriptions, reduces the frustrations between people when they lack clarity of who is doing what tasks. KPIs tell employees how well they are performing, which gives them purpose and excitement to perform.
Implementing strategies is exciting when there is an instant result and proof of progress. Measuring reveals what's working and results increase confidence.
Seeing all the previous 6 strategies have their effect, to bond the team, motivate them to perform and discuss results every week in meetings, means your own time is freed up, along with the energy you put in to drive growth. Your team greatly assists to grow the business and you have time to spare - to enjoy your life with freedom.
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