Earlier this week, I had the opportunity to have lunch with my mentor and one of my life long closest friends, T. Harv Eker. Harv is the President and Founder of Peak Potentials Training, one of the fastest growing business and personal success training companies in North America.
We’ve been friends for 45 years, and it’s a relationship that means a great deal to me.
After lunch, we headed over to my offices so that Harv could check them out and visit with our team.
For the next 90 minutes, Harv stood in our hallway talking about the exact Speedwealth principles he’s been preaching for over a decade. I’ve been practicing them religiously since learning them 6 years ago.
After he left, I asked them what was the greatest lesson they learned from all of the terrific advice Harv offered?
It was this …
If you plan to build a large, successful business, you’d better start with a strong set of systems for support.
If you’re going to build a skyscraper, you’d better build a deep and strong foundation.
The largest, tallest trees have the deepest and largest roots.
When you can see the business is there for the taking, but you can’t service it properly, you aren’t ready yet to take on that business.
But …
Once you have the systems in place, and have trained people how to follow the system, then you can begin to grow your business rapidly and successfully.
Is your business systemized for large growth? If not, why not?
And if you aren’t in business for yourself yet, WHY THE HECK AREN’T YOU?
Your best chance at FINANCIAL FREEDOM is in your own business.
Where do you want to be 3 years from today?
When’s the best time to start making changes?
Namaste.
Jeff
Jeff, you and Harv are exactly right about systems. And in my experience, it’s easy for most entrepreneurs to put that work on the back burner. But without spending the time and hard work it takes to make your business a system, you’ll always just “own a job” and not a business.
Jeff thanks for sharing this because it is a critical point.
No systems = Poor Business.
Having the proper systems in place can make or break your business. it may seem like a pain to implement at first when you’re small but it is absolutely necessary if you ever want to become big.
Best thing to do is get your systems in place now and watch what happens.
Dr. Andy Fuehl
best selling author of Wealth Without a Job
Great post, Jeff and great inspiration from a master, T. Harv Eker.
A business of your own is not just your best chance, in reality it’s your ONLY chance for financial freedom.
You posed a great question. Where will you be in 3-years. Great food for thought to ponder over a long holiday (USA) weekend.
Thanks for sharing these insights, Jeff. As always, your are spot on!
Fools rush in.
This is the message I got from your post today. One common mistake with many entrepreneurs is to not think far into the future. Someone once told me your exit strategy is the first thing you need to figure out when starting a business. A solid foundation allows for a profitable exit.
It seems people want to get right to the glamor end of things rather than setting up solid accounting systems, financing and day to day operations. Once you set all that up, you have a chance to duplicate your successful model.
This is the key to great business.
Thanks for reminding us Jeff.
Systems, systems, systems! So important, and sometimes hard to convince smaller businesses of the value. (Big corporations often have so much system they lose the other part of the equation — inspiration!)
I especially like the point about digging deep to build high. That’s the case for strategy as well as system.
Yep, I agree with you Jeff. You need a solid foundation to grow your business. To be really successful, you need to be able to quickly adjust & adapt your systems to take advantages of changes in business climate. Too many large businesses cannot adapt as they get caught in their own red tape.
Jeff,
Thanks for sharing this experience. It is so important that our business continues to grow strong internally to be able to deliver strong results to our clients. Our employees, clients, vendors, and partners are all depending on our adherence to the principals taught by Harv and ability to quickly adapt to our changing environment.
Soon enough the foundation of our business will be the best in the business.
-Chief Financial Officer
Arizona Premier Properties
It’s almost comical that you’re writing about this topic right now. I’m in the process of trying to determine what elements my system should include.
The one thing I have a hard time with is keeping the horses in front of the cart and making the important parts of my system a priority.
In business as is in my personal life a strong foundation is something I strive for. The foundation will be the guide to established business systems and it will also be the support when faced with challenges.
Thanks, Jeff