Master of This

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Daily Archives : March 30th, 2012

How to Make Big Bucks In Business

I have a really simple theory about how to make big bucks in business. The way to do it is to find a niche and be absolutely the best at that one thing as you can. My friends always ask me how to make big bucks, and I tell them that when they are setting up their business, no matter what it is, treat it as if it is going to eventually be a franchise that you will sell to other entrepreneurs.

What this means is that you keep good notes about your core business functions and that you create instructions and checklists for every single process that you use. As you learn new ways to create efficiencies, you change the instructions and checklists. You take the time to make templates or forms for whatever you are doing. If you are a carpenter, it means you make a jig for your roof trusses so you never have to think about how to build that particular type of truss again. If you are a mechanic, you have a notebook of tricks and tips for each different type of car. If you are a legal document preparer, you have a template for each document that your customers may need. You automate everything as much as possible, and remove opportunities for mistakes. Once you have optimized, you will be the best at what you do, and people will pay for that.