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The fastest way to build a multi-million dollar small

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					The fastest way to build a multi-million dollar small business
  The top 1% or 2% of all small business owners net between $29,000 and $86,000 a
month. You can join this elite group within 3 to 5 years in the business you already
own, or the one your going to start. All you really need is to understand one secret.
The secret is 鈥?
  STOP working on things your customer 鈥檚 don 鈥檛 know about
  What that means is, you should focus all your time and energy and resources on
what customers see. They don 鈥檛 see your bookkeeper, they don 鈥檛 know
anything about your shipping department or your web designer or 100 other little time
sucking details in your business. So STOP doing those types of work in your business.
For example outsourcing accounting is an easy first step. So is using document
management systems to become a paperless office.
  I mean why on earth would you set up a shipping department or a bookkeeping
department or run your own web sites or write your own advertising.
  I talked to one business owner a while back and asked 鈥淗 ow much is your time
worth?鈥? Without even blinking an eye he says $100 an hour. So I said. Your doing
your own bookkeeping to save money, something that could be done by someone else
for 20 cents on the dollar. That means doing it yourself gives you the most expensive
bookkeeper in America 鈥?for below average results.
  This struggling business person is wasting $100 hours to save money on accounting
services instead of calling on customers. They will NEVER get past struggle. Never.
  In our own 5 businesses we contract out everything that does not add value to the
customer or clients relationship with us. That allows us to expand or contract our
overhead depending on sales and it allows us to build share holder (what I can sell this
business for in 5 years) so I am creating more wealth.
  By reviewing my QuickBooks accounting data every day over a 30 day period I
discovered I drove cash flow best when I engaged in two activities 鈥? 1.Developing
clever and innovative ways to deliver better services to my buyers. 2.Developing
better relationships with my team, vendors and most of all a new customers.
  Contracting out back office and support services is scary because were afraid the
cash drain will kill our business. The exact opposite is the truth. When you work on
low value tasks or manage those tasks you are sucking your business dry instead of
building a top 1% operation.
  Interview anyone you know in the top 1% and it will be one of the first things they
tell you. 鈥淒 o what your good at and get rid of everything else out of your life.鈥?
Words to grow by.
  KC Truby The Lonesome Cowboy http://www.kctruby.com

				
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posted:2/23/2011
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