How To Run A Business From Home

How To Run A Business From Home

How To Run A Business From Home. The ultimate joy one can get from his business besides the profit is the ability to run it ( a business ) from home.

There is no real happiness running a business that can’t give you the freedom you desire, the freedom to spend quality time with your loved ones, the freedom to travel the world, the freedom to do whatever you want to.

As you know freedom has a price, and the same applies to business. What I mean is there is a way to build a business that will eventually give you the ability to run it from home, and whoever tries to do other ways will likely become a prisoner in his own company.

The main goal in this article is to show you what it takes to run a business from home, as Bradley Sugars said in his book Billionaire in training the goal is to make money while you are asleep, or playing golf.

The two key elements

No matter what industry you are in or the size of your business, there are two requirements you need to comply with if you want to run your business from home. The two key elements are:

  • Business team
  • Business system

Without these two elements, the dream of running your business from home will surely not come true.

Business teamHow To Run A Business From Home

If you ever read the book Cashflow Quadrants by Robert Kiyosaki, you surely came across what Mr. Kiyosaki calls the B-I Triangle. B-I stands for Business – Investor. The B-I Triangle is the set of key areas in any business.How To Run A Business From Home

Professional investors rely on the B-I triangle before investing in a business, and savvy entrepreneurs build their business plans around the B – I triangle, in order to comply with all requirements to build a successful business

The B – I Triangle, in other words, is a checklist that helps evaluate the performance of a business.

On the second side of the B – I triangle is a Team. A business is an inert entity, which means it can’t operate by itself, it needs a team of qualified people to ensure its survival. This is the first requirement to comply with as an entrepreneur in order to run your business from home.

A business team is a group of professionals whose mission is to work in unison towards the vision or goals set for your business. Having the right people in your team will eventually give you the ticket to freedom. By the way, you should not confuse the business team with employees. Having a bunch of employees is in no way a business team.

Employees are people meant to be told what to do, they are also meant to be controlled. A business team, on the other hand, works independently, and as an entrepreneur, your main goal is to lead your business team, you should not try to control them, you should not try to tell them how to do their work because these people can easily cause damages in your business without your notice.

As I have already said the right business team will give you the freedom to run your business from home, and the wrong or the unhappy one will surely keep you, prisoner, in your own business.

How can a business team allow you to run your business from home?

As I have already said, a business is an inert entity, it needs competent people in order to survive and thrive. Whenever the owner wants to run his business from home, there must be someone to replace him in order to supervise the daily activities of the business, and this person who will eventually be the general manager will work in unison with the business team built by the owner. In other words, the business owner must be willing to delegate his daily work to a team of professionals in order to enjoy the freedom to run his from home, from anywhere.

The professionals needed in your business team.

I personally believe that a business can exist without a business team, but a business can’t thrive without a strong business team. The following are some professionals you will eventually need in your business team.

  • Accountant
  • Bookkeeper
  • Banker
  • Attorney
  • Broker
  • Tax planner

Business SystemHow To Run A Business From Home

Imagine running your business from home at the same time wondering if your employees are properly doing their job. Aside from having employees accomplishing the daily tasks in your business, there must be an order to follow.

There is no real happiness running a business from home when you are worried about its daily operation. Unless a business owner systematizes his business he is not likely to run it from home. Systematizing a business means to implement the order. Michael Gerber in his wonderful book the E Myth wrote most businesses are people-oriented businesses. When something goes wrong in a people-oriented business the people working there will usually say ask Robert, ask Paul he is the one in charge.

People-oriented businesses rely on people, but here is the problem, we all know that human beings are unpredictable, Robert may decide to resign, or Paul may fall sick. If one of these events occur in a people-oriented business, the business is likely to suffer.

To avoid this, savvy entrepreneurs systematize their businesses, in other words, make their businesses systems-oriented business rather than a people-oriented business. When something goes wrong in a system-oriented business there is no need to call someone, the people working there will simply look at the system and find out what is going wrong with it.

In a system-oriented business, there is no such thing as fear of losing key people. If such an event occurs the new employees will simply refer to the operation manual to know what to do, when to do it, and how to do it.

How can a business system allow you to run your business from home?

You can’t run your business in the comfort of your house when the business operations rely on people, you will eventually be checking if those people are properly doing their job, aside from doing their job properly you will eventually be afraid of those people leaving your company.

In a system-oriented business, things are pretty different, you as the owner has written all the systems necessary to your business, you have provided your employees with operation manuals as a guide to their daily task.

With a strong business system in place, you may leave your business without worrying about its daily operation.

Systems necessary to a business

As I have already said, unless you systematize your business you are not likely to run it from the comfort of your house. The following are some systems necessary for any business.

  • Product development
  • Office operations
  • Manufacturing and inventory
  • Order processing
  • Billing and accounts receivable
  • Customer service
  • Accounts payable
  • Marketing

Conclusion

Running a business from home as you have seen, is not rocket science, but common sense facts, you simply need a strong team to look after your business when you are playing golf, and a system to make sure that everything is running smoothly.

For further information on how to build a winning business team, you may consider reading the instant team by Bradley Sugars, and for further information on how to build a smooth business system, you may consider reading the E Myth by Michael Gerber, or the Instant System by Bradley Sugars.

 

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