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BUILDING A BUSINESS

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The key to all business success in to have a good business plan that you can adapt as you go along. To grow you need to systemize your business.

A good business plan is required by all financial institutions if you are looking for a commercial loan or working capital. A business plan also give you a guideline to follow, and adapt as you progress. There are many programs available to assist you with developing a business plan. Your Economic Development or Business Development Agency can guide you in the right direction on how to start.

All successful businesses have a system they follow. Systemizing means having a set formula to use in all areas of your business. This ensures that each member of your team/staff knows exactly how to work the area they are assigned to. If a staff member leaves you can train their replacement quickly with your systemized formula

Example

Macdonalds - Each staff member has a clear role, each knows what they must do, what they must say, how each burger is prepared, and the portions that are allocated for each burger etc. There is no guesswork involved. The staff know exactly what they have to do and the customer knows exactly what they are getting.

Starbucks, Tim Hortons, Mr Lube, Wendy's, KFC, these are other examples of successful systemized businesses.
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SYSTEM

In order to grow your business must be systemized.

SYSTEM:
S - SAVE
Y - YOURSELF
S - SELF
T - TIME
E - ENERGY
M - MONEY

Modeling an 8 figure business
Trait 1 - Be Spiritually healthy
Trait 2 - Have Great Balance - Mental/Physical/Relationship
Trait 3 - Find a Financial Balance - Management, plan piece by piece
Trait 4 - Have Massive Vision - know what can be done, and don't listen to opposition
Trait 5 - Create a systematic plan and implement systems
Trait 6 - Understand Influence and Negotiations (buying and selling)
Trait 7 - Presentation skills - public speaking - give more value upfront - free stuff has no value
Trait 8 - Understand investing
Trait 9 - Understand Asset protection and tax planning

BRANDING & YOUR USP (Unique selling proposition):
Logo - use something memorable so people will remember the name. Launch a Brand then link all your businesses to that Brand - do NOT use your name in the Brand.

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