I am creating a series of businesses to love, having fallen out of love quite considerably with various business models I have operated in the past. I have written extensively on the web in the last five years about what constitutes a Business to Love and why we might want one. At the risk of repeating myself to loyal readers, but for the benefit of those who have just chanced by this blog today, the two seminal works which have taught me pretty much all I need to know about how to do this are:
1. The E-Myth Revisited by Michael Gerber and
2. The Four Hour Workweek by Timothy Ferriss
1 is better for a real world business where perhaps you have one branch of a business and want to expand, or at least liberate yourself from the need to work in your business every day and 2 is for those who dont want to wait until their are “old” to retire, but who want to set things up so they may enjoy mini-retirements now. When I had a firm of accountants, The E-Myth would have been the one; now that I work virtually The Four Hour Workweek is more appropriate. I suggest read both, pay your money and take your choice. Remember business books are often available on audio CD too.
What would be a business for you which you could love? Quite a tricky question perhaps if you have never thought of your business in that light? I would start with a list of things which aren’t working – what do you hate? Invoicing? Collecting money? Recruiting and managing staff? Doing the accounts? Managing facilities? What sort of a business could you create which would liberate you from the need to do most or all of the bits you hate? Automating processes might be the answer. For me, the antidote to years of chasing money was, for instance, to move into the sort of work where its normal to pay in advance.
I also know I dont want to manage premises or stock or staff, but I would happily (and do) outsource to virtual helpers. And I love working with self-reliant business partners.
You see? There is a way out of your darkness!
What do you already love about your business and how could you do more of that? And if you don’t love yours at all, how can you get rid of it and start again?