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Dan Lok

How To Actually Work On Your Business Not In Your Business – Systemize Your Business Ep. 9

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EPISODE 206

How To Actually Work On Your Business Not In Your Business - Systemize Your Business Ep. 9

Too many blind entrepreneurs are driving around on our roads.

Thankfully that’s just an analogy, but this is how I explain why many entrepreneurs work in their business, not on their business.

They need to build the business up so it’s a part from them, not a part of them, consuming their lives. The solution to most business problems are systems and training solutions; most of the time it’s the system solutions. Better training, better systems, and most business problems are solved.

Let’s start with the first thing you can do if you want to work on your business, not in it.

Have A Plan

Whatever’s in your head right now for business targets and goals probably feels overwhelming. When it’s overwhelming, you don’t take any action, but when you put everything out on the table… I guarantee you, here’s what you’re going to find.

It won’t be as bad as you thought, because in your mind, you’ve got a million things to do, but when you start listing them out, you realize maybe it’s just a thousand. Then as you continue to list, you realize it’s closer to ten thousand.

And eventually you’ll narrow it down to twenty things, and then fifteen things, which is a lot more doable than a million. Break down your tasks into smaller tasks. When you make that list, you get a better grasp of what you need to do.

Then you ask yourself, why are you doing things that you hate? Isn’t there software that could help you with that? When you start completing tasks, you have momentum, and it feels like you have more control. You know what’s going on and your business doesn’t run you.

When you have systems in place, you run your business and you know what’s going on. You’ll look at other business owners and realize they have no clue what they are doing.

It’s like they are driving without a driver’s licence and without any training. They decide to learn to drive because they hate their boss so they want to start a business. They are driving, blindfolded, their hands taped to the wheel because they have sunk their life savings into their business and they’re hoping they don’t crash.

Having a positive attitude is not enough. To use a sports metaphor, imagine saying that you want to go to the Olympics. You won’t get there just by visualizing how great a swimmer you are. Or by taking a swimming class, and then thinking you’re win the championship.

If this plan doesn’t make sense in the sports world, why would it make sense in the business world?

Instead, business owners should ask themselves, Who do I need to be to get what I want? Then when you think that way, the business works. And that’s why, once you have the skills to make one business work, it’s totally transferable to make another business work.

Master Business Skills

I’m suggesting that you need to master the skills of business. It doesn’t have to be from me; it could be from somebody else. You can’t succeed unless you work on the skills.

I love this quote by Robert Collier: “Success is the sum of small efforts – repeated day in and day out.” I would also argue that failure is the sum of small efforts – repeated day in and day out. No business fails overnight. It’s always a lot of bad decisions to a point where it cannot be saved.

So now you understand the need to have a clear vision, structure, and clearly defined positions so that you and everyone else are aware of their responsibilities. You fully understand the need to have systems to support everyone in delivering consistency in standards across every facet of the business.

I want to leave you with one final thought. If you can’t even manage yourself to do the things that you want, such as getting fit, what hope do you have of getting other people to do what you want? You can’t manage people so don’t focus on them.

Focus on managing time, space, and systems. Those things you can control. And then the systems run the business, and the people run the systems. That’s how you work on your business, not in your business.

Transcript

Dan Lok: Welcome to another episode of Dan Lok show. Today we are in actually New York City, and I’m with John Henry. Now John not only is an entrepreneur, but also a real estate investor as well as owns a venture capital company.

John Henry: That’s right.

Dan Lok: Now before we even talk about John’s story, I want to talk a little bit about this space.

John Henry: Let’s talk about it.

Dan Lok: Let’s talk about this space. Like what makes this space, co-working space, so special?

John Henry: First things first, thank you for having me on.

Dan Lok: Welcome man, welcome.

John Henry: Appreciate you. And look, what makes this space special is this is the proof right here. Like you’re on a one day trip, you came, you interviewed with Faiza, this content, that content lined up. We connected and it’s central in the city, a lotta energy here, there’s six floors.

Dan Lok: You can feel the entrepreneurial spirit.

John Henry: That’s right.

Dan Lok: The minute you walk in you can feel the hustling.

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Dan Lok: Welcome to another episode of Dan Lok show. Today we are in actually New York City, and I’m with John Henry. Now John not only is an entrepreneur, but also a real estate investor as well as owns a venture capital company.

John Henry: That’s right.

Dan Lok: Now before we even talk about John’s story, I want to talk a little bit about this space.

John Henry: Let’s talk about it.

Dan Lok: Let’s talk about this space. Like what makes this space, co-working space, so special?

John Henry: First things first, thank you for having me on.

Dan Lok: Welcome man, welcome.

John Henry: Appreciate you. And look, what makes this space special is this is the proof right here. Like you’re on a one day trip, you came, you interviewed with Faiza, this content, that content lined up. We connected and it’s central in the city, a lotta energy here, there’s six floors.

Dan Lok: You can feel the entrepreneurial spirit.

John Henry: That’s right.

Dan Lok: The minute you walk in you can feel the hustling.

John Henry: That’s right, and there’s a lot at WeWork’s, obviously, and this is … this, though, is billed as like the OG space, and there are a lot of veteran New York entrepreneurs here. There are several accelerators and several funds and stuff, and so yeah, I’m fortunate to be part of this community.
So we’re in Alley right now. Yeah, and that’s where we find ourselves.

Dan Lok: That’s awesome.

John Henry: Welcome to New York, man.

Dan Lok: Thank you, I love New York. The cold, it takes a couple of days to get used to. The minute I arrived, the airport, like wow! This is cold. I know New York, it’s cold. But this is cold!

John Henry: This is very cold.

Dan Lok: This is very cold. So John, take us back. How did you get into entrepreneurship?