You once had to make 3 very important decisions before you could go forward. You decided on your product; you decided who was to be your market; then you decided how to bring the two together.
This is the core of every business and how you’ve done it is unique to you.
The rest of your business is what we refer to as the‘business behind the business’ and it is virtually the same for every business.
You may have already made some sales, great!!!
Before you identified those steps and made those key decisions—all you had was a dream. Because you were able to make those key decisions and put them into practice, you now have a basic business.
This pretty much sums up the basics in most businesses. You molded your ideas into a plan and this plan became your fundamental design. This is where it starts but it’s not the end. There’s a lot more to come.
The basic plan, unfortunately, did not provide for a few minor details. These usually come up after sales are made and cash flow starts:
There is always a ‘business behind the business’ no matter what particular business you are in. It includes the things that ALL business owners hate—including accounting, taxes and tax strategies, owner and key-man relationships, investor relations, employee relations, plus all the paperwork involved. We know of no successful company in America’s history that didn’t get help with these things from knowledgeable sources.
So now, the REAL business picture becomes a little bigger. Is this all? Well, not quite.
Let’s examine MORE of the business behind the business.
Your basic business is YOU. It is UNIQUE to you and your fundamental plan or design whether you grow tomatoes, give x-rays or build boots. The business behind the business is NOT unique to you. Everybody’s is similar. You cannot ignore it. It will occupy an unreasonable amount of your time. It’s unfair. As you begin to realize this, your basic plan—or business design is now in line for some modifications.
These modifications happen in one of two ways, or a little of both. They happen by accident or by design. These modifications that are now necessary are definitely going to interfere with your basic business, you time and your overall mental well-being.
You wanted to spend most of your time making sales, generating cash flow and enjoying good food, quality time with family and friends and a new toy once in a while.
But, here comes reality. There is a lot more to this independent business thing than you were prepared for. Are you discouraged yet? DON’T BE—it’s too soon!!! Welcome to the business behind the business.
Here are a few more things for you to consider:
Strategies concerning managing and holding accountable-employees, including professional advisers (accountants, attorneys)
Strategies concerning purchasing and managing available funds
Strategies concerning who remains as owner of the business (implied partnerships)
Strategies for building the business as if you were going to sell it.
Strategies for business continuation, expansion and exit.
Strategies to survive lawsuits and audits.
Are you sure business ownership is for you? When did you first realize that when you went into business for yourself, that you had put everything you own on the line??? Your entire equity is now waving in the breeze, including all your personal assets!
First the Limited Partnerships failed to protect. Then the sub-S Corps and now the LLCs are following the same path of destruction as the courts wreak havoc on the asset protection promised by attorneys’ easy sounding plans and lofty ideals. Are you concerned that these same gurus are beginning to recommend the next fad entity—the LLP?
Direct your business with time-tested and court-tried methods that will not only help run the business properly but will keep you safe and dry when stormy weather comes.
It’s up to you. There is a business model that has served business owners extremely well since 1858. We can make you into a real executive. You can easily run your business like a Fortune 500 company—so lose the poor advice.