How to start a business that works without me?

Discussion in 'Starting a Business' started by Kimmy Yong, Oct 22, 2013.

  1. Kimmy Yong

    Kimmy Yong
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    One of the reasons why most entrepreneurs fail is because they build a business that depends solely on their presence and unique skills set. They are the primary producer/contributor of the goods or services. They are the one planning the business, attending to the customers, making the sale, preparing the accounts and etc. If they aren’t there, they lose the sale, the goods cannot be made, the service cannot be performed and the customers will not come. As such, I would like to know how to start a business that works without me. Your ideas are highly appreciated :)
     
  2. Joseph.Shivell

    Joseph.Shivell
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    One of the reasons entrepreneurs become successful is because they enjoy what they are doing, so they are driven to make the business a success. When a business begins, the owner of the business must be willing be involved in every aspect of the business, and to do whatever is necessary to make it a success. They know it is going to take up a lot of their time to get it going. Once that occurs, they can then hire people and train them to perform the necessary tasks properly, and they can then relax a little. But, in the beginning, it is your business, and you must be willing to do whatever is necessary to get it running.
     
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  3. bethw

    bethw
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    You want to start a business and you don't have any role to play. Very strange. How can that be possible? Can you leave your entire business on other's shoulder? Or you don't want to take any responsibility? The main reason of failure of any business is lack of research, lack of planning. Take your time, do research , find out scopes and target market, plan and then execute.
     
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  4. Changed Creation

    Changed Creation
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    One of the most important things in business is to set up the systems that drive the processes for every action that is executed in business. When the entrepreneur sets those up during the start-up, if he can simultaneously document the processes with the mindset of what exactly he wants done, his training material and Quality Management manual would be developed generically, so that when the day comes that he employs the second person in the business (he is the first) then he has everything ready for hand-over. Also if he would from day one in his position as first employee, daily report to himself (the employer) what worked/was done, what didn't work/was not done and what he intends to do to fix his problem, when he hands over this reporting style would be established generically. It would also help him to focus on doing what is most important, and come into that habit of focusing.

    It is extremely valuable to report even to yourself those 3 outcomes on a daily basis. It helps you focus, and doing what I've just advised will help you start a business that eventually you'll be able to let go of generically. Many owners of business build their businesses around themselves and when they eventually cannot cope with the load they stack on themselves as the business becomes bigger, their employees are not fully equipped to take over. So when you start your business you must have it in mind to work yourself out of that business as soon as possible, otherwise you are the business and when you eventually want to sell, it can't be sold because you're it!

    As the first employee you should generically set the systems you want in place for each aspect of the business. How to open . how to close, what must be done. Detail like that so and so window must be left open for the cat... If its not recorded you haven't fully taken responsibility, because every outcome that you want done in the business must be measurable and reported of to you, so that you can manage it. So the best way to ensure that your business does give you this outcome is, to document everything from day 1 with yourself playing 2 roles, 1st employee and also employer being reported to.
     
  5. Fergal

    Fergal
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    The idea of setting up a successful business that is self-sustaining is very appealing. Unfortunately it's not something that I have succeeded in doing myself but would love to do it in the future. A book that discusses this topic in-depth is "The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It" by Michael E. Gerber. The book discusses how you can be a successful business owner, how you need to manage yourself and your business and putting systems in place, so that your business can operate without you being involved in a day to day basis. It's well worth a read for anyone interested in the topic.
     
  6. marrick

    marrick
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    It's kind of weird that you want to start a business without you. A business that's starting needs more attention from the one who started it. That's the number 1 rule of thumb.

    Even those big businessmen give their time whenever they launched a new business even if they have almost no time for it. It's just a matter of commitment. So I think the idea of starting up your own business without you is quite bad. Commit some time to it at first. And if you are able to succeed with it, then it's time to find a trusted person whose able to sustain the business needs.
     
  7. ArcSine

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    I like your thinking, Kimmy; I'm always on board with an exit-minded entrepreneur.

    The all-too-common scenario, I've seen it too often: Bill opens a repair garage. Calls it "Bill's Garage". To everyone in town he introduces himself as "I'm Bill, of Bill's Garage!" He run television spots in which he's the sole character, opening with the line "Howdy folks, I'm Bill of Bill's Garage!"

    One day he decides it's time to sell the biz and retire. To his dismay he discovers that nobody's willing to pay very much for his garage, despite the fact that it does a very good business. Every potential buyer he talks to tells the same thing: "Sorry, but everybody in this berg things of you and this garage as the inseparable one and the same. Once you're out, so too will go the volume and the profits."

    Some of the most successful biz owners I've ever worked with told me they began planning the sale of their business on the day they decided to start it in the first place. Then every day as they drove in to the office, their thought was, "Okay, what can I do today to make this profit machine more attractive to a buyer?"

    I'm not saying it's the right approach for everybody. Some people derive a lot of pleasure and fulfillment by being Bill every day. Can't put a price tag on that.

    But Kimmy, if you're looking to eventually reach a point where you can spend your days playing golf and traveling, while the dividend checks keep rolling in, then surround yourself with good people, smart people, make sure they're passionate about building a well-oiled machine, then give them both the incentives and the leeway to run their areas as if they were their own.
     
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  8. DeniseTaylor

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    I agree. Usually the person who starts the business is the head cook and bottle washer until there is enough income coming in to start hiring others. Unless there are funds existing to pay salaries.

    Perhaps there is another part coming, that will explain more of where the OP is coming from.

    In my experience, a ship without a captain heads for the rocks. And the captain has to build up a crew before there is a crew to run the ship. ;-)
     
  9. renniemart

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    Its not at all possible... have you ever heard to sail a ship without a captain? It can only fail with time
     

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