5 Principles to Growing your business (From E-Myth Worldwide)

I was listening to a great podcast on DuctTapeMarketing, with Wendy Vinson of E-Myth Worldwide.

For those of you not familiar with the E-Myth book, it's all about growing from being self-employed to becoming a business owner.

Wendy goes on to describe the 5 core principles of growing your business:

#1. Life

Your business should be built to serve your life, not the other way around.

It's a vehicle to have impact on the world that serves you on a soulful level

#2. Leadership

Instead of focusing on doing the work, focus on leading the business in terms of the vision and direction of the business.

#3. Working on it (not in it)

Work on your business, versus inside the business doing the work of the business.

The business is a separate entity from the business owner.

In order to build a business that works, you need to make sure you spend time doing the strategic work and not just filling up your time with day to day stuff (the tactical work)

#4. Systemization

Understand how to produce results consistently. Consistency is key.

What exactly do you have to do to take your business from a new lead to a happy paying customer.

Build systems to automate this process and measure results every step of the way.

The system is your proprietary way of doing things. It's your IP if you ever choose to sell, or grow your business beyond a single location.

#5. Business development cycle

Understand, document and replicate the steps to build your business

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Listen to the full interview here