Aug 21

The 10 rules of building a business that gives you time and money freedom

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Creating an online business is easy. Millions of people do it.

But it’s only the clever people who create and develop an online business that allows real time and money freedom.

So it’s time to start smart. I’m going to tell you the 10 golden rules which will help you to turn the dream of owning a business that gives you complete freedom into a reality.

1. Automate everything

Don’t ever take shortcuts during the set-up of your business that leave any part of your business requiring manual intervention.

  • Make sure your lead generation machine actually works like a machine
  • Make sure people are smoothly passed through your sales funnel
  • Make sure that sales and delivery are automated, or handled for you

2. Your business must be manageable from anywhere in the world

By achieving automation and ensuring that any tasks can be handled on your behalf, you can create a business structure that allows you to dip in as needed, so you can think strategically and tweak from the top.

This means creating an intelligent, Automated Business System that allows you to view from anywhere and not get bogged down in small details.

3. Don’t do low-level tasks

Whether you outsource routine tasks, or directly employ somebody, make sure you are not undertaking daily routine maintenance of your business.

Employee a virtual assistant for example. They will be able to handle your emails and filter out those which do not require intervention. They will be able to talk to clients and only pass on those who require a more in-depth discussion.

And it’s the same for tasks such as new graphics, webpage design tweaks and coding.  Get somebody on board who can handle it all for you, in the way you want.

4. Your business must nurture repeat clients

Once a prospect has been pushed through your sales funnel and buys from you, they must be immediately pushed straight down a second sales funnel to nurture them for another purchase in the future.

This should be seen as an infinite sales loop. Whenever a sale is made, they looped into a new sales funnel which takes to the next conversion point.

5. Your business must be infinitely scalable

Your business model must be able to cope with up-scaling. This means repeating what is successful in terms of products and services, repackaging, adding new products and services, whatever it takes.

So having an idea for your business which is truly viable is key. You won’t make your lifestyle goals running an online pencil sharpening business for example.

If you don’t have a scalable business idea, I can help you to find one, define it and build that business from scratch for you.

But before you do that, think about your passions, interests and areas of knowledge. I talked about how Dave & Tina built a million Dollar business based on their passion for raw foods , so start from that point.  What interests you?  What drives you?

6. It must be self promoting

Great service should encourage people to share their experiences. This will drive free social marketing.

Your free lead generation report should be of such high quality that people scramble to pass it on to others.

Your blog and information materials should be high quality and encourage both conversation and sharing.

Getting people to know, like and trust you will develop a hands-free marketing machine that promotes your business, because they become cheerleaders for it.

The golden rule to achieve this is to make sure everything you provide encourages action and that everything you provide is of value enough to be shared.

7. You must know what’s going on

You cannot run a business successfully if you don’t know everything that is going on day to day.

The Catch-22 is that for a lot of business owners this means getting deeply involved at a lower level than they should. The trick is to create an Automated Business System, employ people to run low-level tasks, filter out unnecessary information and deliver to you only the key information you need every day.

8. You must have a great team

Leading on from all points we discussed so far, you need to have a great team internally and externally.

To scale your business up, you need people on board who can do that for you rapidly and competently. This means an assistant, people to process orders if you sell physical product, a web designer, a coder, a writer, a marketing expert if you are not one yourself.

Wherever your business needs to go, you need good people in place to react quickly.

And this means you as well. You need to lead that team and ensure that you live and breathe the values you instill in them.

9. You must take action

Your new business has to the hit the ground running. You’ll be amazed how many new online businesses sap so much energy out of the people creating them that once they go live there is little energy, time, or money left to make a success of them.

You must have the energy to succeed. You must have clear goals that you really want to achieve, so that you are endlessly spurred on to success.  Having a mentor alongside you can really help you to overcome these barriers.

10. Realise it’s hard work and get support

One of the myths of online business that still persists is you can do it all yourself. Although this might be true at the low-level, to scale a business up to the stage where it can support your lifestyle goals and give you the time and freedom you desire means you have to get real support.

Your internal team needs to be great and the people you employee externally need to be of a high standard of excellence.

One of the strengths of my Automated Business System is that I spend an awful lot of time getting to know you and your goals. From that we develop a strategy for success in that first key year.

I then work with my team to develop your online business in its entirety and advise you throughout that first year. This means that all ten of the rules I have outlined here are covered and you are fully supported in developing a highly profitable online business system by my team and I.

So lets talk about where you are now and where you would like to be.  Give me a call, or drop me an email and we can discuss how you can reach time and money freedom.

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