Investing For Freedom with Mike Ayala Can Your Business SURVIVE Without YOU? - How to Build a Self-Sustaining Business
Jul 25, 2024
16:21
Have you ever wondered what would happen to your business if you were suddenly gone?
Today, Mike Ayala dives into a powerful question that hit him hard: "Dad, if you and mom died right now, could we run your business?" His answer was a sobering NO.
In this essential video, we explore why it's crucial to work on your business, not just in it. Learn about:
- The importance of having a solid team and clear processes.
- The stages of business from startup to big business.
- How to ensure your business can thrive even without you.
Learn how you can scale your company but also ensure that it can not only survive, but thrive without you.
Startup Phase (1-10 employees):
- Challenges: Limited resources, high dependency on the founder, need for multitasking.
- Focus Areas: Establishing basic processes, initial team building, setting the foundation for growth.
- Action Steps: Ensure clear communication, document key tasks, invest in initial training.
Middle Ground Phase (10-250 employees):
- Challenges: Scaling operations, maintaining quality control, developing mid-level management.
- Focus Areas: Delegating responsibilities, refining processes, increasing efficiency.
- Action Steps: Audit daily tasks, implement SOPs, focus on hiring and training middle management.
Never Miss An Episode! Follow the Podcast on:
Visit InvestingForFreedom.co.
Follow The @KingsTablePodcast Podcast on YouTube!
Follow Mike Ayala on: