In this episode, Mike and Ryan talk about how people progress through their careers. Specifically, how they transition from employment to business ownership and eventually to an investor. They identify how people can often get trapped in the move from self-employment to business owner because the business is so reliant on them. In order to change this, they recommend a few leverage points.
Firstly, simplify the business – focus on your biggest leverage point initially which is often people. Those who share your values, culture, and vision. Secondly, clarify your process and think about systems to make things highly repeatable and scalable. Every good business is one that is systemised, standardised, and automated. This is what they refer to as the business machine. Once achieved, the transition into investor can be made with ease as you can move out of an operational role in your business.
Active Management Programme (AMP) mentioned: https://thebreakthrough.co/management-training/