I recently drove by a business that had a sign out front that read "Closed due to illness".
This meant that the cash flow would stop until the owner was able to return to work. Even worse, the business would not be able to generate revenue for the owner when it was most needed.
Take the following steps today to ensure that your business will still be working when you are not able to.
1. AUTOMATE YOUR BUSINESS:
Automate as much as you can in your business so that you can not only make money while you sleep, but also when you are sick and can't operate the business.
You can automate follow-ups using autoresponders, and the sales process using a shopping cart. Think of other areas of your business that are vital to its success, and automate the processes if you can.
2. CREATE SYSTEMS:
Think about your daily routines in your business. Which routines are vital to the success of your business?
Turn these routines into systems by documenting the steps necessary to complete them. Create binders for your systems so that your assistant or partner can complete certain projects in your absence using the steps in the binders.
3. PLAN AHEAD NOW:
Will you hire an assistant or temporary manager to operate your business in your absence? Then do the research now to make it possible.
Write down all the attributes you want for your assistant. What duties will they perform during your absence? What resources will be available to them to carry out their duties?
Choose your assistant now so they will be prepared to come aboard when you need them to. You don't have to hire them now, but make it easy on yourself by already having someone ready to help you operate your business when you are not able to.
Let this person know what your goals are and give them a binder containing your standard operating procedures and the resources for them to complete their duties.
4. CREATE MULTIPLE STREAMS OF INCOME:
If you are the only one able to operate your business, you definitely need to ensure that your cash flow will not stop when you have to stop working.
Create infoproducts now to generate more revenue for your business. If you are not able to physically generate revenue for your business, your infoproducts will be able to. Automate the sales process so that you don't have to worry about the cash flow when you are not present.
Cash flow may be the lifeblood of a business, but make sure it doesn't stop flowing when you are not able to operate your business.
