How To Make Sure You Have A Freedom Business And Not Prison Business
Yuli Azarch | November 15, 2016 | No Comments on How To Make Sure You Have A Freedom Business And Not Prison Business
I think a business can actually become a prison at times. I know in my case, sometimes it can actually become a prison and has been in the past.
I started my business in order to have more freedom in my life, in order to have more time, to travel more, to do more, and to earn more.
Those are all great things, and I’m doing all of them, but at times, the way I structured it, my business was also a prison.
Lots of people start an online business in order to have more freedom. Many want to travel. Some just want to earn more money. The thing is sometimes you end up working even more hours on your business, or maybe it doesn’t even allow you to do certain things you want to do, which otherwise you would have done. So there are a few key things you need to keep in mind if you want to make sure you have a real freedom business and not a prison business.
1. Make sure you work on your business, not in your business.
I used to tell myself that all the time, and I still do sometimes, but right now, I’m so much better at it. The idea is you want to work above your business. You don’t want to do the day-to-day stuff. You don’t want to do the mundane activities, like the customer support, the low-leverage tasks, and such. You don’t want to do them. You want to give those to others. You want to work on your business. You want to see from above what is happening. If you’re a business owner, you want to see the vision from above. You don’t actually want to do the daily small tasks.
This allows you to accomplish a few things. First, your per hour output will be much higher because you’ll be doing higher leverage actions. You won’t have to do customer support, for example. Maybe sometimes you can do sales, which is usually a higher per hour activity.
Higher than sales, maybe you’ll do the vision & strategy of your business, which has a much higher output. Aside from this, you’ll have more freedom because you have other people doing things inside the business, and you can travel more. You can just take time off during the day. You can do many more things during the day that can cater to your definition of freedom.
I think it’s really critical, and it’s something you have to always remind yourself and think of how you can continue working on your business and make sure you have people working in your business, not on your business.
2. Learn to properly outsource and delegate.
Outsourcing and delegating are so important. Don’t try doing everything by yourself. I see people doing it. They try to do everything. They do the marketing, the sales, the customer support, the setting up of the website. They do all the different functions that a business has. In the beginning, you may have to do all of them, and that’s okay. But once your business takes off, once you earn some revenue and get customers, outsource and delegate as much as possible. Once you do this, you’ll have more people working. You won’t have to do the small tasks anymore.
I like seeing big companies as examples. Big companies, which have hundreds of employees, have different departments. They have marketing, sales, development, design, customer support, customer success, and HR.
But even if you’re not a big business or a big company and you’re only a one-man operation, I think it’s a great way to divide it into departments, because sometimes you wear different hats. You’ll be doing marketing while also doing sales and even customer support, and that’s okay, especially in the beginning. I’ve sometimes had to wear different hats in my businesses, but when you take this, you know where to outsource, what to delegate, and who you want to join your team so you’ll have more people working in your business, not on your business. This will allow you to have more freedom as a business owner.
3. Don’t just outsource and delegate for the sake of it. Take in amazing people.
While I recommend going for the lowest price as much as possible, the point should be you want to hire amazing people. You want superstars in your team, A players, because you won’t have to micromanage them. Superstars will get the work done, and that’s what you want, people who will actually get things done. You don’t want to hire someone at a lower cost, get low-quality work, and micromanage them, and the results may still be bad. You want superstars, A players, in your team.
I think it’s really crucial because they don’t depend on you and just do things without you being there and holding their hand. Plus, it will probably make your business much better because you’ll have a high-quality team. So focus on amazing workers, superstars. I recommended in my other video to look at various markets where you can get superstars for lower costs. Examples would be Russia, Serbia, Bulgaria, Ukraine, and other countries where the monthly salary is lower than the United States and Canada and you can still get really high-quality people.
4. Define what your freedom business is about.
What is freedom for you? What do you want to get out of it? Do you just want to have more money so you can support your family in some way? Do you want to travel the world? For myself, I really want to travel the world. That’s my thing, and that’s what I’m doing now. I have the laptop lifestyle, I travel a lot, and that’s the reason why I wanted to have an online business. For my first few years, I really couldn’t travel, which was frustrating for me. But I’ve been traveling for the last 26 months, and this is my definition of a freedom business.
If this is also your definition, understand what you need to do to get here. People sometimes think I’m a millionaire based on my lifestyle, but to be honest, my monthly expenses cost only about $1,500 to $2,000 at times.
So if you want to travel around the world, that’s the amount of money you need. You need to find out exactly how much you need in order to travel the world.
It’s very important to find exactly what you’re after, what your goal is, and what freedom is for you.
In my case, even after I started traveling, I had a period almost two years ago when I couldn’t take days off because of the way I structured my business. Literally, I was working every single day. From the side, it may have looked good. I was traveling and I was doing many things, but I still had to work every single day. I couldn’t take days off. Let’s say I wanted to climb a mountain for today, something I really wanted to do, I couldn’t really do it, and it was frustrating for me. And I started realizing that wasn’t why I was doing what I was doing. That wasn’t freedom for me.
So after I knew what freedom was for me, I started restructuring my business so I could take days off. So now if I want to take a vacation, two days off, I can take two days off. If I want to go to a business event that may take a few days, I go. I don’t need to worry about my business. I know it continues running. If I want to climb a mountain, do something requiring physical experience, I can do it as well because I structured it this way. I know why I’m doing it, and I know what my goal is when it comes to a freedom business.
So those are the things that you have to keep in mind all the time just to make sure you’re really working towards a freedom business, not a prison business.
If you enjoyed this, please share your comments below. If you have a freedom business right now or maybe a prison business, I would love to hear about it.