345: Easy Small Business Systems: Organize, Systematize, Architect the Business You Want, and E-Myth Your Way to a Sellable Business with David Barnett

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David C. Barnett from Easy Small Biz Systems returns to the show, and his most recent passion is getting your business into a "sellable" state to make it easier to offload or easier to hold and continue. It's possible using David's "12 plus 1" step program. No matter what your business is or does, it still requires capital, people, and a place.

Instead of "winging it" you should describe your ideal life 10 years from now (step one), then sketch what your business looks like to support that lifestyle (step two). Create an org chart and break down tasks, including their roles for the future. Think about those roles that don't exist, ask what's causing the stagnation, assign tasks to a workflow, and explain what negative things might happen if tasks are NOT fulfilled.

David's brand new book is Build a Business That People Will Want to Buy.

Quotes:

“The business is an asset. It's like a money machine, and you have to treat it as something outside of yourself. You have to look at it objectively.” – David Barnett

“When you have a business that hasn't been properly organized—without systems, policies, procedures, workflows, and everything detailed and written down—the only person you can really sell it to is someone else just like you.” – David Barnett

“People who have the worst stories about business failure are the ones who didn't know their business was failing until it was too late.” – David Barnett

Takeaways:

04:31 Systematizing your business can transform it from a stressful job into a more manageable and potentially more profitable enterprise.

10:46 Many business owners accidentally create a job for themselves instead of building a business that provides freedom and flexibility.

14:19 Without a clear 10-year plan, your business will likely remain stuck in its current state.

21:42 Creating clear job roles with specific purposes helps employees understand their importance and improves overall business efficiency.

26:30 Every business fundamentally consists of capital, people, and a place, making systematization possible across different industries.

Resources

Build a Business That People Will Want to Buy (New Book)
David Barnett (Official Site)

Podcast: Play in new window | Download (Duration: 29:42 — 27.2MB) | Embed

Filed in: Archive 2: 2017 • Interview • Podcast

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