I’ve recently shared with you folks the only two real options for any cleaning or restoration contractor. You can either A) ‘stay small’ as an owner-operated (and very high-priced) ’boutique operation’ OR B) build a Critical Mass Business (CMB) that can run smoothly without you. The one Business Model (and life) you should avoid? What I call ‘The Road In-Between’ where you are ‘too big’ but also ‘too small’!
Let’s focus in this QuickTIP on the ‘why and how’ of your very own Critical Mass Business (CMB) that will just chug along cranking out profits without you being there 24-7 screaming/pushing/agonizing your life away! Just imagine…
Your CMB will let you a) go on a real vacation, b) do sales and marketing, c) get sick or hurt and even d) (gulp!) die and yet the profits will keep flowing in! (And your company will be MUCH more valuable if and when you decide to ‘cash out’!) Sounds good you say? Then…
START building a ‘Critical Mass Business’ (CMB) NOW!
IF you are sort of ‘stuck’ on the ‘Road In-Between’ HOW can you step-by-step grow into a CMB? I don’t want to sound shrill here but I see cleaning and restoration contractors dithering for years (decades?) on what to do with their life and business. Even worse, after all this vacillating the majority do… NOTHING!
Speaking of “doing NOTHING” I’ve written before on this oh-so-very-important saying, “A day is a terrible thing to waste!” Now imagine floating along (wasting) the next day/week/month/year for decades! (And yes, you’ll learn in our SFS Training Options that you can be busy, busy, busy and STILL wasting time!)
How can you break out of this destructive cycle of indecision and inertia? With one simple five letter word: START! As in…
1. START now. Do you want the “Personal Freedom” of a CMB? Then take a concrete step(s) toward that goal every day! Once again, quit ‘peeing away’ days/ weeks/ months (years?) on Displacement Activities!
NOTE: The most common (and by far most dangerous) Displacement Activity for an owner-operator? Staying too long on the truck instead of growing into being the the owner and manager of a vibrant and dynamic ‘real business’!
5. START building a ‘Business Infrastructure’ to control your growth. Some owners of large companies are more ‘enslaved’ than a small owner-operator. HERE are 22 different forms and procedures to kick start your Business Infrastructure!
6. START visualizing (and dreaming about) your future! Let me be honest here. Growing into a Critical Mass Business will often be a brutally tough process. You’ll be frequently tempted to retreat and ‘get small’ again. So you need the ‘fire in the belly’ that a crystal clear picture of a fantastic future will give you. For example…
I mentioned earlier that a Critical Mass Business will be much more valuable when you decide to sell your company. BUT WAIT! An even better option for your golden retirement years (which can start as early as you wish with a CMB!) is to NOT sell your company. Instead, a CMB will continue (without your day-to-day involvement) rewarding you with the cash flow to fund a luxurious retirement life style!
NOTE: I tell every SFS Training group that any service business will provide a much better ROI for the owner with this ‘cash flow’ scenario instead of selling out for cash. Instead, milk your CMB ‘cash cow’ for as long as you want and then you can sell it (for even more money) 10, 15 or 20 years down the road! (Or let your kids inherit and benefit from your CMB!) Remember, a CMB smoothly runs without you!
Are you interested in building a CMB? (You should be!) Then why not get a complete “Business in a Box” Infrastructure? that will KICK START your Critical Mass Business? You’ll receive 4,000 pages of systems and procedures in our SFS: Business Transformation program. Or get a great START on building your CMB with my two day SFS: Hands-On Operations seminar.
So what is our key word for this QuickTIP? START! See you soon at one of our five different SFS Training Options to KICK START your business (and life) transformation!