Does Your Buisness Feel Like a Job?

Does Your Business Feel Like a Job?” explores the distinction between owning a business and owning a job. Many professionals, while earning good income, struggle with the realization that their business may not function without them, making it difficult to transfer or sell. The key to creating a business rather than just owning a job lies in organizing a business plan focused on three key areas:

  1. Sales and Marketing:

    • The cornerstone of any business, responsible for generating revenue.
    • Emphasizes tracking conversations from organic and paid marketing efforts, as all conversions begin with conversations.
    • Simplified metrics include the number of phone calls, appointments, and new contracts generated from conversations.
  2. Operations:

    • Focuses on effectively managing current contracts and performance relative to market standards.
    • Encourages tracking metrics like the number of active clients, contracts, and performance indicators (e.g., days on market for real estate professionals).
  3. Accounting and Finance:

    • Serves as the financial scoreboard of the business.
    • Tracks cash flow, reserves, expenses, and profit-and-loss statements.
    • Encourages hiring professionals to manage bookkeeping and taxes for accurate financial tracking.

The video highlights the importance of building a transferable business by shifting responsibility for key metrics to other team members, allowing you to step back. This transition ensures the business can function independently and become a true asset, rather than being dependent on the owner’s day-to-day involvement.

At ProInsight, we’re here to empower you to reach new heights. Let’s think bigger together.