In this episode of  The Biz Room we’re going to discuss the steps in building a business by creating a business system around your niche. Creating a System is key for those that want to own a business but do not want to be SELF employed. You may be wondering what  the differences are?  Well being self-employed, if you are not actually working your business, the business stops or fails. On the other hand if you build a business system, it should work with or without you. Think of McDonald’s, McDonald’s is a business system. The owners do not need to be there because a system was put in place that works. This is why Franchises are popular because people that want to be a business owners but do not want the risk of being self-employed buy into a proven system. Have you ever noticed that some businesses seem to have a life of their own. That energy is real and it is the system that made it possible.

This is why I like the Internet and creating systems such as membership/continuity sites. Once you build the system, assuming you have what people want, the system should work on auto pilot with the exception of maintenance and updates. This is a huge time management tool that is duplicatable. Websites are also valuable like real estate. The domain name, Business.com, sold for $7 Million, yes just for the domain name. The buyers built a system utilizing the great domain name and built a multi-million dollar company (system) as a result and then sold it for $300+ Million.  And there are online domain and website auctions that people bid on. The speed of this kind of infrastructure is unmatched, and overhead cost can be substantially lower than a brick and mortar business.

The key here is to think in terms of what people want. What problems do you have a solution for. Making sure there are enough people seeking your solution and then creating a system that delivers that solution. For creators and problem solvers this is a great way to keep creating and having additional time to work on other projects. I look at it as a way of being able to clone our efforts. I have training systems that work on automation. Teach once and make it evergreen so that it has a long life cycle. Evergreen meaning that your information stays current for months or years to come.