I’m Building A Business, Are You?

Published by 15 Comments

I’m back everyone! Although I never really left… The last of the scheduled guest articles has gone live. No doubt there will be more guest articles in the future but my official “break month”, July, is just about over. I’d like to say it was a holiday but July turned out to be more busy than when I just focus on blogging and in fact I can’t wait to get back to where I was a few months ago when I was blogging and running BetterEdit. However I won’t of course be going back, you can’t go backwards in business, I’m moving forward with the goal of creating the time I once had for blogging again.

How you ask? – By building a business.

Yes Rich Schefren really got to me.

I read his Internet Business Manifesto and Missing Chapter. I had some direct email chats with the man himself. I even considered signing up for his $4,995 USD mentoring program but instead opted for his $397 USD per month over 12 months, slightly lower-end program. That’s a big chunk of change for me given my current cashflow, but I think Rich has the steps I need to build the business I want. Plus I really need an Internet business mentor, someone who has been there and done it before and helped many hundreds of other people do it too. In fact I’ve never been so presold for an information product before – it certainly seems to offer the scratch for my itch.

I Know What The E-Myth Is

It’s strange. I’m well aware of the E-Myth. I always thought I was doing things right by hiring/outsourcing skilled professionals to perform the services my business provides. It’s scalable, leveragable and all that. I was an entrepreneur and a business owner, not a technician.

It turns out that yes, I am doing some things right. While the core function of my bread-and-butter business, BetterEdit, has a great team of people who do a fantastic job and keep the business running, this was the only area I was handling well. Pretty much everything else I do to build my online empire is manual labor by me. I am a technician.

It took Rich Schefren to come and apply the e-myth concepts specifically to the Internet business format for me to see what I have been doing. It’s clear I’ve managed to build “self employment” and not a business. Self employment of course is not that bad, I enjoy the independence, and the money vs free time relationship is pretty darn good. I could keep at this probably for a little while longer and stay quite content, but already the signs of why self employment doesn’t work long term are starting to show.

My ability to scale my business is limited by me. I do most of the tasks, including web design, web hosting and all the technical Internet things, I answer every single email I get – I wear the customer service hat – I’m working on joint ventures, I’m doing the advertising and affiliate management, the billing, the bookkeeping, the backups, not to mention everything else that goes on just to keep everything running, like regular writing to my blogs, paying editors, promoting BetterEdit, and of course, keeping my own life in order – groceries, exercise, bills, rent, house cleaning, etc etc etc…Quite frankly I’m been trying to pile more tasks on to an already very tired and well encumbered mule…and things are starting to collapse!

I Haven’t Been Completely Blind

All that being said I was well aware that my current system, or lack there of, was not long term. I was always going to sell BetterEdit or bring in some support staff to remove myself from the day to day maintenance, I just didn’t know which would happen first. I haven’t had the cashflow up until the last six months to justify bringing in help, but the stars have aligned so this month I’ve started training someone to take over the customer service and job management role at BetterEdit. This will in effect remove me from being completely trapped to email monitoring 24/7 and is a welcome relief. If all goes according to plan, when I leave for Canada on September 2nd I won’t be running BetterEdit’s day to day operations.

That’s the first step, and a big one, since I have never had to remove myself from such a high responsibility role before – it’s going to take some adjustment. This part of my operation is ripe for systemization so I hope, with Rich’s help, I will be able to transform BetterEdit over the next 12 months into a well oiled, documented, processed mapped, and systematized machine.

While I can see and understand the principles, I’m not exactly sure of the process or the implementation to get the systems in place, so I’m eagerly anticipating Rich’s blueprints, examples and direction. I’m well aware it won’t happen quickly but once complete it will make my life a lot easier.

Blog Traffic School

There has been no greater indication of my lack of leverage and scale, than how long it has taken me to complete my course, Blog Traffic School. I could have had this course out the door for you all to be studying and benefiting from three months ago, but I’ve been bogged down in getting the technology systems set up to deliver and sell the course. I’ve been researching, learning and testing absolutely everything myself while also creating the course materials. What I should have been doing is focusing on ONLY the course materials, creating the best darn course I could, while I let the tech specialists implement the systems for me. I know what needs to be done, I’m just not the right person to be doing 90% of the tasks I am currently doing.

My intentions now are to start contracting out the tech jobs. I need to pass on the web developer hat to someone more skilled than myself. However the cashflow isn’t there to hire a full time person so I’m going to start by contracting with the idea of building a relationship with a special person. It may take some time to find the perfect partner, but that’s exactly what I am looking for – someone who will grow with me and become part of my business. The initial projects may be on a contract basis but the perks longer term for people that join my team will be significant, and way beyond purely financial – I have a lot experience, information resources and opportunities to offer the right people who are equally committed and motivated to building a real business. The growth and knowledge gain will be tremendous.

Of course the first place I will be looking for my tech partner will be on this blog, so stay tuned all you web developer types – I will have a golden opportunity opening for you shortly!

True Passive Income

By building a team around me and creating systems for the team to follow I can remove the dependence away from me personally on to a system foundation. My time will be focused on where I can create the most value. Skilled experts will do what they do best, get the most enjoyment from and will be well rewarded for it, both intrinsically – from a personal growth standpoint – and financially. I will be rewarded with a scalable operation that I can step away from in confidence knowing that I am not the vital cog the drives the wheel.

That is the real key to long term passive income. While selling e-books, building an AdSense empire, AIS/Virtual Real Estate, Butterfly Marketing, Affiliate Marketing, Blogging, e-Commerce, information products and all the other various opportunities that abound on the net are fantastic, they are what they are – opportunities. What counts is how you take the opportunity and turn it into a viable business. It’s taken a long time for me to actually act on this sentiment.

I am certainly guilty of opportunistic thinking and taking opportunistic actions. That’s fine, as long as you eventually take one opportunity, focus on it, leverage your own talents and build a system around it to create a business and don’t float from one opportunity to the next. You must not be a jack-of-all-trades in terms of business opportunities or within one operation, where you do everything yourself.

Small Business Branding

I’m excited to say that I have had a number of people apply to become blogging partners for Small Business Branding, and this is certainly one area that I feel is turning towards a “business” framework. I’m currently reviewing all the applicants writing and will be in touch shortly with who will form the team that takes the blog to the next level. I can see this blog potentially becoming a perfect example of where a system creates something greater than the some of the parts.

Long Way To Go

I’m excited to be finally taking steps towards creating a system that I know I need but I also realize there is a lot of work ahead. I simply don’t have the cashflow for this to happen quickly so I need to focus on that aspect of the business. I’m stopping in Hawaii, Vancouver, Toronto and Montreal during my trip and in each city I hope to set up poster promoters in major university campuses to advertise BetterEdit. I’m not 100% sure this will work or is sustainable, but so far it’s working for Brisbane and I’m positive for Melbourne as well, although I won’t really know until next year. Once again I expect Rich’s teachings on managing my metrics will help me take better care of my financial situation so I really know where things are at rather than all the trial and error I currently implement for making decisions.

I hope through my experience and my Internet business story-telling I do here on my blog that you also reflect on what you are doing. I’ll do my best to report back how I go with implementing all that I have discussed in this article to you over the coming months, but for the moment I’d like for you to ask yourself this question – Are you building a business?

Yaro Starak
Building A Business

About Yaro Starak

Yaro Starak is the author of the Blog Profits Blueprint, a report you can download instantly to learn how to make $10,000 a month, from only blogging 2 hours per day. You can find Yaro on Facebook, Twitter and .

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15 Comments

  • Yaro, it seems like you are heading down the right track. I think better edit has great potential outside of Brisbane/Australia. I wouldn’t think of selling it yet, if I was you. Getting someone to do the email, and taking care of accounts should be able to help you free up the day to day tasks. Looking forward to the launch of your blogging course!

  • Good to have you back, Yaro – my rss reader thanks you and your long posts will fuel my caffeine addiction even further. :-)

    This caught my interest…

    In fact I’ve never been so presold for an information product before

    Can you step back and think of the reasons why? Was it one thing, a combination of things or did the whole pitch eventually reel you in? Can you think of a tipping point where you just had to get on board?

    If you’re really into setting up systems like I am check out Jimmy D. Brown (sorry, not sure of the links). I recently read a free pdf he’s pushing and this guy’s all about creating systems.

    Blog Traffic School – are you looking at offering spin-off products down the line? Maybe smaller eBooks, audio products? If so, will you have an affiliate program?

    Keep on the journey, Yaro – it’s a great ride, ain’t it!

  • (Just between you and me) I think you missed the biggest opportunity of the month. Sliding doors style ;-)

    Good advice re: self employment and a business. It’s a massive difference and the biggest stumbling block to becoming a true entrepreneur.

    All the best Yaro.

  • Martin – I think it’s safe to say that the Internet Business Manifesto, Missing Chapter and the video of Rich presenting were what presold me the most. He described such an accurate depiction of my situation.

    I’ve always know the problems with my situation and the fact that Rich has taken people like myself, particularly Mike Filsaime, and helped them become millionaires, was a big factor. Rich knows the step-by-step process to get there and is willing to share it. In my case I know my current problems, I know the solutions to those problems and the end-game I want to reach – I just need someone to provide the blue-print to get me through it – if that makes sense. Rich was the first person I had come across who had the blueprint for specifically my situation – an Internet business owner working from home – which is exactly where Mike Filsaime was two years ago.

    I felt very presold because Rich had so accurately described me and anyone who can do that (hopefully) can help me get to where I want to be. Simply put – I was the ideal target market for Rich’s products/services.

    Ben – You wouldn’t believe it – but I’m moving out as well, so no one is actually staying at my place. Long story…

  • RNC

    In case you need support in your Bookkeeping,I can help you.

  • It sounds like you have just had an Aha! moment, good luck with the future mate :)

  • Carol

    Wow, Yaro, you sure have a lot on your plate!

    It sounds like you can really use a Virtual Assistant. A VA provides across-the-board administrative and personal support from her home office. This frees up the entrepreneur/sm. business owner to do what heprefers/wants/needs to do.

    One of the benefits of working with a VA is you only pay for the time actually worked.

    For more info feel free to email me @ divinevirtualassistance@yahoo.com and/or check out http://www.assistu.com.

    Good luck with everything going on,

    Carol

  • Thanks for the insight Yaro.

    I too read the Manifesto and the Missing Chapter (you know it wasn’t really missing – just a cool marketing tactic) – scaling, systems and outsourcing go hand in hand in getting your business to the next level.

    Let us readers here know of your progress with Rich’s product.

  • Carol – Yep, quite right – that’s on my “to-outsource” list at the moment. I expect a VA can help a lot with my day to day email duties, among other things.

  • Congrats, Yaro! I think you’re on the right track, both with finding a mentor (no sense reinventing the wheel) and in delegating some of the work you have been doing. I forsee big things in your future.

  • Congratulations.

    It is, however, sometimes a bad idea to outsource things because you won’t have complete control over your “baby.” It does, though, alleviate much pressure and strain from your daily schedule.

    Best of luck.

  • Yaro,

    Super post, thanks.

    I too have joined Rich’s 12 month program, and am also itching to start launching my systematised business alog his principals.

    Looking forward to your next posts on how implementing Rich’s prncipals goes in BetterEdit

    Warm regards

    David

  • DIO

    Outsourcing is not necessarily a bad thing, but you’ll either need to monitor it closely, or get a reliable outsourcing firm, or even outsource the project management to another company. :)

  • [...] For me, this section was one of the most valuable – how to go about prelaunching and launching an online product. I have to admit I was somewhat frustrated after reading about all the different things I should do to maximize the success of my product launches. The ideas I got from this section were fantastic – my frustrations came from not having the people or systems in place to implement it all. Of course that set me down the path to building a better business so I can have the resources available to me in the future, but that’s another story. [...]

  • Yaro,

    I really enjoyed this post.
    This post was about 3 years ago. However, at this time you clearly had things figured out with regards to creating systems.

    I am impressed with your level of knowledge, business savvy, and intelligence. I enjoy learning from people like you.

    All the best Yaro.

    Best Regards,
    Neil.

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