Managing 7 Businesses without Pulling your hair out...

9 replies
Managing 7 Businesses without Pulling your hair out...
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Hi Folks, I have not been in the warrior forum in years and it was where i initially learned sooo much about business and the online game. I thought I would drop a value bomb for you guys.

I wrote the below for another facebook group recently and it went down very well. This is all the subsystems you need to manage your business.
I manage all my businesses through Asana project management software. For every business I create a new project. I then use a project template to drop into that business to give it structure.

The following works for me.
The business name is the project name. I then make the following subtasks under that company name.
1- Business Operations
2- Accountancy Systems
3- Sales systems
4- Lead generation
5- Fulfilment
6- Weekly meetings
7- Projects

These are all then broken down further into more subtasks, We connect in google docs for anything that requires a description and also use google spreadsheets where required.

1- Business Operations
Everything got to do with running the company. HR, Culture, hiring/firing, Business Dashboard, time management, etc

2- Accountancy Systems
Forecasts, P&L, Cashflow analysis, bank recon, Profit maximisers (Driving labour efficiency, driving profit by driving expenses montly etc)

3- Sales systems
Sales scripts , Sales upsells/ maximisers

4- Lead generation
Every possible way we generate leads. We try and systemize everything and then get interns to carry them out in all our business units. Works like a charm. smile emoticon. Lead generation is broken down into "lead acquisition" and "conversion". We are always looking improve and tweak both. However, one thing to note is we only focus on certain channels at each time, we dont spread our focus thin across many and get nowhere.

5- Fulfilment
Delivering the product the way the owner wants it delivered without any problems. (We also have a set of questions here we ask to try and drive innovation)

6- Weekly meetings
One of the biggest problems with companies is lack of execution and communication We plan this into asana, everyone knows where they stand and who is doing what. This is broken down into Quarterly, monthly and weekly meetings.

7- Projects
Every company always has small and big projects ongoing. We break these down in this section.

Whats really good about using a project management software is you can assign a person to each of these 7 areas. Thats crucial in business, someone having clear accountabilities for each area of the business. Each of the 7 points is broken down further into sub-systems (or sub tasks) each sub task is either a reactive or proactive task/system.

What I mean by proactive and reactive tasks.
A proactive task/system is put in place to achieve a desired output, ie your goals.
A reactive task/system is put in place as a result of an unforeseen challenge that has happened in the business, you put this in place to overcome the challenge and ensure it does not happen again.

I could go on but hopefully that will help you guys manage your business better for 2016 smile emoticon
#businesses #hair #managing #pulling
  • Profile picture of the author Jason Kanigan
    This is great and truly useful for people who have gotten beyond the scrambling stage.

    Unfortunately here people are at the "How do I make a dollar?" level, so you are probably speaking a foreign language to them. Hopefully we'll get some comments from the few people who are doing these things and understand what you're talking about.

    Might be interesting to discuss "Chicken Vs Egg" in this thread...do you develop the systems after you've seen some success...or does your success come from creating the system (which most here never do)?

    Hardly anyone wants to work. And developing systems is work.

    BTW you talk about "Accountancy"...where does "Accountability" fit in?
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    • Profile picture of the author dean1986
      Hi Jason,

      Thanks for reply.

      Accountability: This falls into our weekly meetings. We have built in the 12 week year into our meetings. So each week we report on what we have done and intend to do, Works very well.

      We used to dev the systems after the success, but now we are pretty confident of what will work and not work, so we drop the systems in prior.

      Making their first dollar online: I would actually LOVE to get a group together and help them all make their first dollar online. Purely for the kick out of it
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      • Profile picture of the author Jason Kanigan
        Originally Posted by dean1986 View Post

        Hi Jason,

        Thanks for reply.

        Accountability: This falls into our weekly meetings. We have built in the 12 week year into our meetings. So each week we report on what we have done and intend to do, Works very well.

        We used to dev the systems after the success, but now we are pretty confident of what will work and not work, so we drop the systems in prior.

        Making their first dollar online: I would actually LOVE to get a group together and help them all make their first dollar online. Purely for the kick out of it
        Have you tried doing this?

        Most wouldn't show up.

        The rest wouldn't do the work.

        You might get one star pupil.

        Put the goods in front of them and they still won't do it.

        Go ahead and try it, I encourage you! You'll learn a lot. Better to work with people who have already experienced some success.
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        • Profile picture of the author dean1986
          I have. Yes you are right. Only about 20% do what you actually say. It really is the whole 80/20 rule.

          Its exactly why 4% of the worlds population hold 55% of the worlds wealth. They are the only ones willing to commit for a long long time.
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  • Profile picture of the author Jason Kanigan
    Maybe we should talk about pro forma cash flow statements.

    Another "greek" phrase (latin, really) for most of the audience here, but valuable and perhaps even critical to business success.

    Pro Forma means "as a matter of form", meaning you are doing the thing kind of as an exercise, but in our world it means simulating what will happen, ie. planning.

    Cash flow is the tracking of cash into and out of your business.

    So when you have a new business, you put together a pro forma cash flow statement to see what income and expenses are expected...

    ...to help you achieve your financial goal.

    And here, right here, is where most people on this forum fall down.

    They don't have a financial target.

    They're trying to make "as much money as I can," which is no target at all.

    And why is this bad?

    Because you'll never get there.

    Having a financial goal let's you quickly figure out a few really important things:

    > what you need to SPEND/INVEST to get there

    > what you need to DO to get there

    > where you need to BE to get there.


    So you set your financial goal at $2000 for the next month. That's conservative and I'm sure most people on here can see themselves making that amount.

    Only now, because it's written down as a target, it's more real.

    And you're forced to THINK about those execution things I just listed.

    By deciding on your money target, you are now made to consider the means by which you're going to get there. Your road map.

    Instead of having No Plan, as most do, you will develop one.

    You must make decisions.

    What road will you take to the $2000 in profit?

    Adsense?

    Affiliate products?

    Your own products?

    Services?

    Something else?

    A mix?

    Do your price levels support your economic goals? Are you trying to sell $10 products and make $2000 (tough road; maybe it's time to move up in the world)?

    Once you've picked the paths, you must detail out the steps for each to work.

    Will you have to create content?

    Will you have to buy traffic? Where? From what sources?

    And from this, you'll learn what activities you must do every day to make it work.


    Instead of the wishy-washy "I'm chasing the next shiny object (because that's what's worked so far, riiiight) for an undetermined fortune," you'll know specifically what you need to be doing TODAY to make that profit by the end of the month.

    With my business background, I take this stuff for granted. You just "do it." But most people have never heard of it.

    All wrapped up in your Step #2. For me, this is Step #1, and Operations stems from these decisions.


    "But Jason...I don't have any money!"

    This is why you don't build a business--use the initial revenue to reinvest in growing your business. And by doing so, you'll immediately see why a pro forma cash flow statement is a powerful idea.
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    • Profile picture of the author Oziboomer
      Originally Posted by Jason Kanigan View Post

      With my business background, I take this stuff for granted. You just "do it." But most people have never heard of it.

      All wrapped up in your Step #2. For me, this is Step #1, and Operations stems from these decisions.


      "But Jason...I don't have any money!"

      This is why you don't build a business--use the initial revenue to reinvest in growing your business. And by doing so, you'll immediately see why a pro forma cash flow statement is a powerful idea.
      Thanks Jason and Dean.

      I come from the school of hard knocks when it comes to business education and after several years I got dragged back to the importance of step 2 and I agree with Jason that the guidance for decision making stems from the financial structures.

      This becomes more apparent when a business is in a plateau or a contracting phase which many people seem to ignore or neglect.

      It is easy to manage when you have predictable growth but I suspect today most businesses struggle with adapting to changing times.

      Having the skills, tools and abilities to manage a business that is not always growing is a powerful ability.

      My focus lately has been somewhat towards the accountability rather than accountancy.

      I'd love to share some content I've written that is due to be broadcast on these issues.

      As with most things the timing of things is not right for me to present a full case or offer my perspective on a solution that helps businesses manage because I'm deep in finishing a set of tools and training to overcome the issues that Jason articulates and both Jason and Dean already master.

      I promise to come back and share soon.

      Best regards,

      Ozi
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      • Profile picture of the author NomadLifestyle
        Do you have a project manager?
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        • Profile picture of the author dean1986
          Originally Posted by NomadLifestyle View Post

          Do you have a project manager?
          Yep - for each business.
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    • Profile picture of the author dean1986
      Thanks Jason. Actually one of the first things we do is this. We map out exactly what needs to happen on a financialy basis to hit whatever revenue, but more importantly profit. We then set are max caps for salaries and expenses. We pretty much reverse engineer our ideal profit outcome.
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