The Secret to Being a Successful Business Owner

One of the saddest facts of small business ownership is that most small business owners work WAY too hard for WAY too little: too little money, too little time off and too few clients.

They’re overwhelmed, confused, sleep-deprived and 4 out of 5 of them will be back in a J O B within a few years. The odds are against you.

The question isn’t whether or not you’re smart enough or dedicated enough or have enough passion — chances are, you have all of the above, until burnout occurs.

W Edwards Deming, a pioneer in the world of business, once said, “97% percent of all [business] failure is due to the system — not the person.” That said…

  • What systems do you have in place in your business?
  • If you have an assistant or team and one of them walks out on you, would your business grind to a halt or would it be a minor bump in the road?
  • When a prospect calls about becoming a new client, does she go through the same process as everyone else or does it depend what you’re working on and your mood that day?
  • What are you doing to *consistently* market your business?

Are you working smart or hard?

When you write an article for your email newsletter or prepare a tip sheet for a client, what else are you doing with that work AND are you doing it consistently or just “when you have time”?

Is it sitting in a folder on your computer or do you have a system in place for it to actively build your list and show you as the expert in your field?

If you’re not repurposing or repackaging EVERYTHING you do, you’re working too hard! Here’s just one quick example of what you should be doing:

Take the article you wrote for this week’s newsletter and:

1. Convert it to a press release about how X benefits small business owners.

This is especially good for subject-sensitive items such as “small business tax tips” or “business planning/resolutions around the New Year” or information you have to share.

2. Record the article and offer it as a free audioclass on your website so prospects get to know you.

3. Bundle it with other articles

Group a bunch of your articles and offer them as a free special report on your website to help build your mailing list OR sell them for a quick source of passive revenue.

One thing to always remember: People WILL pay for convenience! If you offer them a quick and easy download that saves them time, they are more likely to choose that over researching the topic themselves.

And the secret to being a successful business owner? Having AND using systems in all aspects of your business — success without systems is luck; outrageous success without systems is impossible.

Your Coaching Challenge

It’s a holiday week for those of us in the U.S., so I won’t give you TOO much. 🙂

Think about all the things you’ve written — either for your newsletter or for your clients — and how you can reuse them in a different way to build your list, build your credibility as an expert and create a new, passive revenue stream.