At the start of this lesson, I want you to think about these activities:
Running a business VS Building more partnership
Running a business VS Developing a new product
Running a business VS Personal development
Which of the above activities will help you to MAKE MONEY?
Of course, the answer is to run the business.
But which activity will help you make MORE money in the future?
You can guess the answer.
You see, running a business is important, because without that, you can’t make money.
But if you spend all your timing simply running the business, your business is not likely to grow consistently.
What I mean by running the business is doing the daily operation.
As much as possible, you want to leave the daily operation to others.
You, on the other hand, should focus your time and energy on other activities that will grow the business in the future.
These activities include developing a new product, coming out with a new marketing strategy, establishing more partnership etc.
Having said that, it’s not easy to do that as a start-up.
When I restarted my business, after losing $50k in my first business, I had to do everything myself.
Everything was on shoe string budget because I couldn’t afford to waste any money.
So I spend my day time “running my business”, and night time exploring and developing new products.
This went on for years.
Fast forward now, I have virtual assistants to help me with most of the daily operation.
I spend 1 – 2 hours a day running the part of the business that cannot be easily outsourced.
I spend most of my time on strategizing, improving and developing the business.
I don’t work for tomorrow’s income. I work for the income 1 to 2 years later.
The end result is, I see the business growing consistently and I don’t really have to worry about short-term income.
Before I end this lesson, I want to emphasize that running the business is important because it makes you money.
You should never skip ‘running the business’ and keep on working on developing new products, for example.
There are dreamers who are forever exploring new business opportunities and never get anything done. That’s not the teaching of this lesson.
