I want you to wake up with determination and go to bed with satisfaction.
I want you to build the life of your dreams.
I want you to live life rich, whatever that means for you.
Before you can achieve any of that, though, you have to get your finances under control.
It all starts with mastering 3 core areas. There are 3 departments every business must have in order to scale, build, grow, and become something that matters in the world. Neglecting these areas is a colossal mistake. Entrepreneurs who make that mistake derail their business success.
The 3 departments are:
1. Operations
This is the heartbeat of your business. It takes care of everything from who’s paying the bills to who’s doing the work. Basically, the operations department clarifies the systems, structures, and strategies of all 3 other departments in your business.
In order to get this done, you must write down who’s doing what, when, and how. This can be summed up in an SOP or a standard operating procedure.
2. Sales and marketing
First of all, you can’t make the excuse that you’re just not good at sales. You have to be good at it to be in business. If you have something valuable, people will want to do business with you. You just have to make it easy for them to do so.
That being said, sales and marketing are all about keeping your business at the top of your ideal client’s mind when they have a problem. Are you the first one they think of to solve that problem for them? Make that the central aim of your sales and marketing department.
3. Finance and legal
Many entrepreneurs are good at what we do, but not good at this department of their business.
Legal and finance are all about how you should be structured as a corporation. It starts with the basics of getting your structures in place.
After that, you have to figure out your profits and how to pay yourself first. Millionaires pay attention to the bottom line and the numbers they must know in their business. They get a report every week, month, quarter, and year and that is their personal scorecard. They collect their balance sheet and profit and loss statements. You don’t need to be fancy, but do need a general idea of all of this
If you want to learn more about how to master these 3 departments and prevent yourself from being and staying broke, check out Episode 047: Million Dollar Mistakes Session One: The Three Departments You Must Master.
