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There are six simple steps for designing and implementing business systems that work while their owners enjoy living out their dreams.
Smart business owners are always focused on profit. Without profit margins, it doesn’t matter how many sales transactions there are or how much the gross revenue increases - every business will eventually run itself into the ground. On the other hand, intelligent entrepreneurs also understand that the key to true success is to combine a profit-making strategy with a vision of personal fulfillment.
Those who have the time to pursue their passions and dreams experience what life truly has to offer. John D. Rockefeller, Sr. was a man who possessed incredible amounts of money, but he once remarked, “I know of nothing more despicable and pathetic than a man who devotes all the hours of the waking day to the making of money for money’s sake.”
In other words, knowing how to spend time is a skill more valuable than knowing how to make, manage, invest, and spend money. Entrepreneurs who want to be truly successful have to devote themselves not only to the accumulation of financial assets but also to the mastery of their precious and irreplaceable time.
Why some businesses thrive while others implode during economic downswings remains a puzzle to many business-owning entrepreneurs.
They plan for the future, and they keep contingencies in place to confront whatever challenges might arise. They sell products and services that do not go out of fashion as easily. And most of all, they focus on profits in an intelligent manner that helps them grow and prosper any economic environment.
An entrepreneur is a businessperson who not only conceives and organizes ventures, but also takes great risk in doing so.
Those who want a greater sense of responsibility and control over their lives, coupled with the confidence to experiment with that possibility, often rise up from the ground level of employee status to the first level of entrepreneurship. They do this by becoming self-employed.
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