Dan Kennedy often tells the story about the farmer who must still go milk the cows on the day his wife dies.
It is what business owners do.
They work.
If they don’t,
- cows explode,
- employees don’t get paid,
- clients don’t get served
- bills don’t get paid
- cows explode.
84.7% of small business owners do not have enough saved for even the smallest emergency shut down or business disruption. Broken down further:
- In just a 1-3 day shut down, 18.1% would be unable to make payroll for that week.
- In a 4-7 day shut down, 21.4% would be unable to pay the rent/mortgage + unable to make payroll
- in an 8-14 day shut down, 32.6% would be forced to close their doors with the remaining businesses needing 18-24 months to recoup the losses of a 2 week closure.
Of course, they could just put everything on a credit card, which many business owners do. Making the problems worse with a 24% interest rate.
Credit Cards should be like plan X, Y or Z. Not plan A.
But it doesn’t have to be like this….
What if….
Instead of downing a 6-pack of Bud Lite Ice or Stroh’s while binge watching Shameless on Netflix every night after work, they instead….
…..Held off on the beer until Friday night, had a club soda and READ something. Business Book? Success book? A newsletter? A book on financial literacy or savings? BTW Profit First is such a book, highly recommend it)
They would then have the mental capacity to see past the Stroh’s induced brain fog and do something to improve their lot in life.
What Are You Working On (Most)?
A lot of business owners work mostly on disposable things, of temporary value. This explains incidences of high income but zero wealth.
People make this mistake in many different ways. They may invest oodles of time and money in the next shiny object, marketing craze or new social media frenzy, while under-investing in systems.
Systems create wealth: A business with documented systems will command 2x more in sales price at time of owner exit, than one without.
Systems allow freedom. Granting you a “come-n-go-as-you-please-while-the $$$-keeps-flowing” thing.
Having a financial management system would protect you from the roller coaster of business.
A Marketing System will smooth out the business road and eliminate the roller coaster effect of feast or famine.
Without systems, wealth and freedom are near impossible to attain.
Why do I need systems?
I guess you really don’t need them…… if you want to limp along with a mediocre income and be worried that you are just a few days from a catastrophe.
Could you imagine the catastrophe if a pilot decided NOT to do a pre-flight systems check of his jet plane? Or a doctor did NOT do his post-op system of counting instruments? (we have all heard the horror stories of medical instruments being left inside patients bodies…..)
Pretty strong arguments for systems, if you ask me.
For these reasons, business operating systems are just as mission critical.
And you don’t even need to come up with them on your own.
You can copy mine.
The Definitive Business Operating System
What is The Definitive Business Operating System?
Great question, glad you asked.
It is comprised of FOUR main SYSTEMS that are interconnected, support each other and put YOU in the center. Have just one broken system and the whole thing collapses.
- Client Experience Systems
- Employee Systems
- Management Systems
- Personal Operating System
You don’t need more, and you won’t survive or thrive on less.
With just these 4 systems, you can:
- put your business on auto-pilot,
- eliminate stress and anxiety over the economy
- Enjoy autonomy & financial freedom ( I define financial freedom as “the freedom to come and go as you please from your business., and participate in it in whatever manner you desire, while the cash keeps flowing into your pockets” Your definition may be different
And you can get access to these systems during the DBOS 2022 LIVE event in Baltimore, MD on 11/2-11/4, 2022.
And while the best event price is no longer available (see yesterday’s email) I do have a super early bird admission JUST for DSNi Cast members: Enter code:
dbos300
That will get you a sweet deal.
Regular admission is $1999. ESOTA.org is graciously contributing $1000 per attendee, bringing the event down to $999.
With that promo code, your admission is only: $699.
Register here: www.dbos2022live.com
That code will expire on 8/6/22 or when the allotment of 26 tickets is gone. (As of today, there are 17 tickets left at that price)