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Build a profitable business- the baby steps part 13

5. “Business system entrepreneur”-road. Business system entrepreneurs are at the top of the commercial food-chain. When you buy something, anything, chances are it has been produced by a business system entrepreneur. These entrepreneurs do things on a bigger scale, are not afraid to delegate away their choirs and are quite eager to make themselves unneccessary to the everyday proceess of their companies. The sooner they are able to eliminate themselves from the value-adding equation of everyday work, the sooner they can start thinking about growing their operation, making their operation more efficient or starting a new enterprise altogether. Business system entrepreneurs are few and far between, but they are the entrepreneurs that really tend to strike gold. They can build on their system for a lifetime, and then make an exit as they bacome older for sums of money that are quite astonishing. These folkd don´t do it for the money though. They may have started out that way. But somewhere along the line, the hunger for money was replaced, or at least, joined by the passion of doing business. These are the entrepreneurs that understand that it´s better to earn a smaller portion of a larger cake than it is to earn the whole smaller cake. They are opportunists in the truest sense of the word and they are adapt at responding to change. Let´s look at some of the key characteristics that make these entrepreneurs who they are:

Their profits are not correlated to their input of time. They do not trade time for money. They trade somebody else´s time for money; their employees`. They value time highly and are not willing to give away much of it freely.

If they go on vacation the business is unaffected. They have created an automatic enterprise that is unaffected by their time input. They have created a system that is self-sufficient. They just need to provide strategic guidance from time to time and that´s it.

The business is based on what the customers need. Catering to customer needs- not profits- is at the forefront of all their actions. They always look to enhance the customer experience, and provide even more value for even less money.

They have employees and a business hierarchy in place. Everybody knows what they are supposed to do. They are all part of a team, and effective leadership is keeping them all going in the same direction.

As many functions as possible are delegated. You can´t do it all by yourself. Business system entrepreneurs know this. They are happy to truts people around them. They know that if you only trust and believe in people, they tend to surprise both you and themselves. In the end many entrepreneurs find out that maybe they weren´t as crucial to every part of the business process as they had initially thought.

They spend much time planning strategy. Instead of micromanaging and sweating the small stuff, business system entrepreneurs can look atthe big picture and employ a strategy that fits the bill. By delegating and placing trust in others, they free valuable time to contemplate on how to improve on the truly important and profit-enhancing activities of the business.

Their business is highly scalable. Scalability provides leverage. Leverage enables wealth. Without scalability, you are just stuck in a job. It might be a job with a nice salary, but it´s still a job. And you´re still trading your time for their money. If you are looking for serious wealth, leverage is the name of the game.

They have a customer base not tied to any one particular person. Customers are their becasue they like the offer on the table. Sure, some of them are there because of personal relationships, but any person could leave the enterprise without that being a major problem for sales. In a mature business system no one man is bigger than the entire team.

They automate as far as possible. Provided quality is unaffected business system entrepreneurs are always willing to invest in automation. They have no problem eating up short-term costs to ensure longer-term growth, efficiency and profitability.

They work primarily for profits. They are not really interested in salary. They are thinking big. Thus, they own. They see themselves as producers, not employees. Thus, they are looking for cash flow, dividends and a potential exit somewhere down the line. They are quite happy to let somebody else pick up the salaries as long as they are the ones standing at the front of the line when the real payday arrives.

So there you have them. The five roads at your disposal when it comes to the financial journey you decide to embark upon. The “Trying to get by”-group, the “Middle class”-group, the “Penny pincher”-group, the “Self-employed”-group, and the “Business System Entrepreneur”-group. In general, the further down the list you find yourself, the more likely that you will become rich in one way or another. that doesn´t mean that the other roads are to be scorned at. We all have different goals, ambitions and dreams as to what we want to do with our lives. ou should chose the road you feel makes you happy and best corresponds to your personality. On our travels around the world we have met people who were living in shanti towns without a dime to their name, and yet these people were incredibly happy. We also know some people who are super-rich that are, well how do we put this, miserable bastards. Our advice to you? Get rich AND be happy. It offers the best possible life available to man. Why shouldn´t you have it all?

Whatever you do; choose wisely.

Your life depends on it.

You financial life that is.

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