The Profit Quadrant
Welcome, Income Flippers,
Building a business isn't just about external achievements; it's also a deeply internal process.
It's like holding up a mirror to our thoughts and feelings; ultimately, it becomes a reflection of who we are and how we think.
To me, being an entrepreneur is similar to being an artist, with our business serving as the canvas.
And just like in art, there's no single right way to create a masterpiece.
However, I've discovered that certain frameworks can act as our guides, helping us navigate through this creative process more efficiently, much like how artists study form and design.
In 5 minutes or less, I will share with you the framework I created to help me create clarity in my business.
Imagine dividing the essence of business success into four key areas: Purpose, Process, Productivity, and Profit. I call this The Profit Quadrant.
Here's a sneak peek into what each quadrant represents:
Purpose
This is where every successful business journey begins. It's about defining your mission, vision, and values.
Just like how Tesla's mission to transition the world to sustainable energy captivates so many, your purpose will draw people to your vision.
Process
The backbone of any thriving business. Here, you'll detail your sales, service, and people processes.
It's about laying down the pathways that ensure every part of your business operates smoothly.
Productivity
Efficiency is the name of the game in this quadrant. You'll set up key performance indicators (KPIs) to keep track of how well your processes are working.
It's like having a dashboard that shows you exactly where you're speeding ahead and where you need to pump the brakes.
Profit
The ultimate goal. This quadrant focuses on understanding your financial health and ensuring your business isn't just surviving but thriving.
By weaving these quadrants together, we create not just a business, but a purpose-driven venture that stands the test of time.
Remember, while these frameworks provide a map, it's our unique approach that breathes life into your vision.
Here are some questions I encourage you to ask yourself...
Purpose:
1) What is my company's Mission or Purpose?
2) What is my vision?
3) What are my values?
Process:
1) Can I define my lead generation system?
2) Can I explain my sales system?
3) What service standard do I expect from myself and my team?
4) How do I attract, train, grow, and lead my team? Is this documented?
Can I explain the "why" of what I do
Productivity:
1) Do I have a lead dashboard?
2) Do I have a sales dashboard?
3) Do I have a service score dashboard?
4) Do I have an internal service dashboard?
Dashboards help us keep score and keeping score provides us with the map we need to achieve our goals.
Profit:
1) Do I have a sustainable profit model?
2) Do I close my books at the end of every month?
3) Is my financial model expandable? How do I know?
4) Have I created vertically integrated businesses that contribute to profit?
These questions have helped me create clarity and I hope they do the same for you.
Use them as a checklist and then document your thoughts in a playbook that you will use to train and develop your team.
I hope this is helpful!
Rob
P.S.: Interested in real estate investing? Join our free GRID Investor Facebook Community here.
