According to Austin Netzley, the CEO and Founder of 2X, if your business cannot thrive while you are on vacation, then you do not have a real business; you are just running a self-employed ‘hustle’.
Netzley and his team at 2X have made it their top priority to shift the mindset of entrepreneurs from wanting to be irreplaceable in their business to creating self-sustainable companies that do not need them. He believes the true definition of success in entrepreneurship is having a successful business that gives you the freedom to do what you want, when you want.
Do you think you are running a real business? In this article, Austin Netzley shares his picture of a sustainable company and outlines the simple steps you can take to drive your business to self-sufficiency. This is just a glimpse of what the entrepreneurs who enroll in his 2X 90-day program are privy to.
The Fruits of a Real Business
A lot of entrepreneurs believe that the success of a business is measured in terms of revenue. Well, this is true to some extent but what good is it if you can’t enjoy all the money you are making? What good is this success if you work more than 12 hours a day just to keep the business growing? For Austin Netzley, this is not the picture of a successful business.
A successful business should deliver 3 important things: Freedom to the owner, High Sustainable Revenue and Consistent growth. And these 3 should occur simultaneously, as your business thrives, the revenue should increase and the extent of your freedom from the business should grow. A successful business should be autonomous, being able to sustain itself without the presence of the owner. So, how can you transform your business into a sustainable company?
The 3 Steps to Getting Your Business Vacation-Ready
The first course of action that Austin Netzley and his 2X team take when working with entrepreneurs is to simplify the business structure. They separate the important aspects of the business from the unnecessary variables that too many focus on. The idea is to make the structure of the business as clear and as easy as possible to accomplish the goal at hand (freedom, income, growth).
Next, they work to develop the perfect strategy for operating – and growing – the business. This strategy aims at shifting the business from being centered on the owner to becoming a “faceless” company.
For a business to be “faceless” and still thrive, it is critical to implement the right systems. The proper systems, when put in place, should achieve repeatability and consistency of all business processes and enable successful delegation of responsibilities. This way, the business will run as it should without the involvement of the owner. And this is how you will be able to take a month long vacation and not worry about your business thanks to Austin Netzley and the 2X team.
The 5 Signs of a Strong and Healthy Business
Austin Netzley believes that if you are running a strong and healthy business the following tell-tale signs should be evident. First, the #1 goal of the business should be known to everybody in the business and it should be what everybody works toward achieving every day. You, on the other hand, as the business owner, should have the key numbers of your business at your fingertips and can articulate them when asked at any point. As for the business, it should be able to sustain itself for months even with zero new sales. How? Well, with its cash savings!
When it comes to company culture, Netzley points out that a healthy business must have a strong culture that reinforces the core values of the business to new employees. He emphasizes that the business owner should not be needed to set the tone to new members of the team. But most of all, Netzley believes a strong and healthy business is one that allows the owner to take a vacation and not have to stress about the business.
So, are you running a real business? Or are you just an overworked employee in your business? When you are ready to make the shift, hit Austin Netzley and the 2X team up and have a chat.