Some of the things you learned in your career as an employee can often be really useful as you become an entrepreneur. On the other hand many people get stuck on just those components and due to that their business suffers. Owning your own business is great, you get tax advantages, you call the shots, you can call yourself President, CEO or Chairman of the Board. None of that will pay the bills though, nor will it put you on a path to complete freedom.
The key to success in running a business is being “process driven”, some examples of this would include things like, what do you do when _____ happens”? One great exercise is to go over just about anything you can fill the blank with and come up with an answer. Such as….
1. What do I do when a customer is unhappy because the didn’t get their product?
2. What do I do when my site goes down?
3. What do I do when someone wants to sponsor my site?
4. What do I do when I have a cash shortfall this month?
You just keep going with that. You should also ask yourself questions like…
1. What are my plans for future revenue?
2. What do I need to schedule to make sure those things get done?
3. Who are my customers, what do they want and what form do they want it in?
4. How is my current revenue stream growing or not growing?
5. What is my “freedom number” and based on current trends how far into the future is it?
6. What are you really good at? What do you suck at and What can you eventually outsource?