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    7 Replies Latest reply on Jul 10, 2009 2:52 PM by Iwrite

    Can Your Business Function Without You?

    MlmRepMachine Newbie
      The ultimate question is how long can you leave your current business and still have it work without you?

      If you can't leave your business and it still continues to generate profits then you don't have a business you have a job.

      As Robert Kiyosaki says in the Cash Flow Quadrant you either want to be a business owner or an investor.
      These are the only quandrants where your money can be passively created.

      A job is just a job. An entrepreneur is a glorified job.

      What provisions are you putting in place so that your business runs without you?
      Do you agree or disagree with this philosophy?
      Do you feel that you were put here on earth to swap hours for dollars?

      I love hearing the feedback from other business owners.

      One of the things that I do is outsource alot of my work. I spread the love by paying
      others to do what I could easily do but have no desire to do. Also, it would actually cost
      me money to do those things.


        • Re: Can Your Business Function Without You?
          MediaPress9 Adventurer

          To answer your question, I delegate tasks to my partner. This frees up a lot of time for me during the day. Outsourcing or delegating tasks to others gives you more time to focus on other important aspects of your business.




          Outsource Your Writing Today!

          • Re: Can Your Business Function Without You?
            Iwrite Pioneer
            It depends on what type of business you have and/or what stage your business is at.

            Some small business owners in the beginning are doing everything and can't afford to be away. Some businesses require more attention and hands on management. My friend who sells his artwork goes on vacation but the production of artwork stops. The selling goes on but no new product is available.

            There are exceptions to anything. I don't believe I have a "glorified job." I haven't had a job in years, I have a career. To me there is a huge difference. I create to make money but I also create for the sake of creating.
              • Re: Can Your Business Function Without You?
                MlmRepMachine Newbie
                Siegfried & Roy are two German-American entertainers known for their long running show of magic and illusion in Las Vegas.

                The duo gave their final performance on February 28, 2009, a hiatus of over five years. The show ended after Roy Horn was mauled by a tiger. The show lost millions. Siegfried & Roy had a job. When something happens to one of them the show ends. When the people use to pay their money to see the show Siegfried and Roy better show up or there is no show.

                Blue Man Group is a creative organization founded by Phil
                Stanton, Chris Wink and Matt Goldman. The organization produces
                theatrical shows and concerts featuring music, comedy and multimedia. If one of the Blue Men get hurt the Blue Man Group continues business as usual. The Blue Man Group is a business. When people pay their money to get in they only want to see Blue Men perform.

                This is a universal definition and it does not depend on what type of business you have. It doesn't matter if your business is small, midsize or large. If you build the business around yourself its a big mistake because people will always be looking for you. If something happens to you the business ceases.

                Your friend who produces the art but has a sales process after the work is created has the right idea.

                I haven't been able to find an exception to this law. You either work for your money or your money works for you.

                  • Re: Can Your Business Function Without You?
                    Iwrite Pioneer
                    I don't know.

                    There are plenty examples of companies that took a dive after the owner left. That doesn't mean they aren't businesses. It means that there is more to the success of a company than producing a product.

                    I have worked for agencies that closed after the original partners retired because the clients like both the services provided and the people servicing their account.

                    My friends business will close if he dies and all the remaining pieces are sold - that's his business model. Not all business models are designed for a business to continue forever. I think that is not a bad thing.

                    I think both of your examples were and are businesses, they simply have different models. The IRS taxes both Siegfried & Roy and Blue Man Group as businesses.

                    We are going to disagree on this one. But that is okay.
                      • Re: Can Your Business Function Without You?
                        MlmRepMachine Newbie
                        It's perfectly ok to disagree. It's great to get different perspectives. I'm not sure you understood the message I was trying to convey in my post. It appears that you took issue with some of my statements.

                        Here's the ultimate test. If you truly have a real business does your income stop if you can no longer work?
                        (I define a business one that works without you)

                        If the answer is yes? Then you don't.

                        If the answer is no? Then you do.

                        This is not a question of "wrong" or "right" it is only what is.

                        Some people are ok with trading time for money but I'm not.

                        Money is infinite, time is finite. I choose not to trade the finite for the infinite.

                        I am here to help as many people as I can become financially free.

                        Thanks for your input. I learn something from everyone.

                      • Re: Can Your Business Function Without You?
                        Lighthouse24 Ranger
                        So what would your advice be for Siegfried & Roy, or for Stanton, Wink, and Goldman?
                        "Hey guys, forget about using your talent and creativity to entertain people -- sign up for an MLM!"

                        Quite a few small business owners really ARE the Siegfried & Roy of their particular industries and market segments. Clients who contract with my firm are paying money to get ME, not somebody else. S & R didn't take tickets at the door, program the lights and music, clean out the animal cages, or a whole lot of other jobs that were associated with their performances (and important to their success). In other words, they didn't do EVERYTHING, and I don't either. Yet as you said, without the stars, there's no show.

                        How is that a problem? They enjoyed using their talent to entertain audiences, they were good at it, and it was profitable. I enjoy using my skills to produce business results, I'm good at it, and it's profitable. Others here can say the same thing about their business missions and proficiencies. Why in the world would we ever want to do anything else?