Get Rid Of The Monday To Sunday System
‘Employees work in the TIME = MONEY economy….You don’t!’
The way you get paid, as a business owner, is entirely different to how an employee gets paid.
If you don’t know the difference, you will be destined for a lifetime of low profits and high stress.
Business owners get paid for the results they produce. Employees get paid for the time they put in.
This is what I mean:
As a business owner, if you work 10 hours you will only get paid if your 10 hours of input produces a result. If it doesn’t, you simply don’t get paid.
As an employee if you work 10 hours, you will get paid for the 10 hours of input irrespective of the result it produces.
Lets take a pie making business as an example. I don’t have to knowhow to make a pie, nor do you, in order to own a pie shop.
We can get others to do that work. This frees us up to focus on growing the business.
NOTE: If we did know how to make pies, we probably wouldn’t have any time left to focus on growing the business. So the wisdom here (if you haven’t got a business yet), is to get into a business where you don’t have the technical know how, so that you don’t get sucked into doing the technical work of the business. This way you will be free to focus on the strategic work, which is what is needed in order to seriously grow a business – any business.
On the other hand, if you own a business and you have already been well and truly sucked into doing the technical work of your business, then read on carefully as I have your ‘exit’ strategy detailed in the new work system below.
Now, back to the pie making business…
We pay the pie maker for the number of hours they work.
Employees work in the TIME = MONEY economy. You don’t!
When an employee works 10 hours, they get paid for 10 hours. They do overtime, they get paid overtime.
When you really think about it, being an employee is a highly profitable business model. Apart from minimal travel/food/clothing expenses, almost all of their net income is pure profit.
Often an employee makes more money than a business owner and, on top of this, there is little to no risk for the employee.
An employee doesn’t have to mortgage their home, give personal guarantees, or have an overdraft. They are entitled to superannuation, sick leave, holiday pay, every weekend off for life…it’s almost the perfect, little business.
What about us, the business owners?
Well, we get paid for the results we produce from our business at the end of each day.
We work in the RESULTS = MONEY economy.
If there is a good financial result, we make money, if there is a poor result, we lose money. If there is a break even result, we break even too.
Business ownership is the highest risk business model you can think of. There are no guarantees, we may have to sign over everything we own to a lender to get into or to grow the business. We can work 24 hours a day, 7 days a week and there is no law against it. We don’t have to save any money in our superannuation, we don’t have holiday pay or sick leave and we don’t get paid for public holidays. It’s all on us and it’s all up to us!
Our business success is not dependant on how many hours we put in, but by what results we produce. That’s both a blessing and a curse.
I’m going to help you make it a blessing.
As entrepreneurs, you and I work in the Results = Money economy.
If you’re a commission sales person, then be mindful that you fall under the system of a business owner and not an employee. You ultimately get rewarded for the results you produce, not for the amount of hours you put in.
The Monday to Sunday system works perfectly for employees, who get paid for their time. It’s easy to use the Monday to Sunday system to pay employees as all we need to know is what days they worked and how many hours they put in.
But this system doesn’t work for business owners like you and I. We don’t get paid for our time. It doesn’t matter if we are working on a Monday, a Thursday or a Sunday. All that matters is what result did our business produce for the day? The Week? The Month? The Quarter? The Year?
So if it doesn’t matter what day of the week it is, then what does matter for a business owner?
The number one thing that matters most for our results is what ACTIVITIES DID WE DO on any given day?
We know that when we do certain types of activities, we get certain types of results.
It has been well documented that, when business owners work ON the business, they grow and prosper. There is no limit to how far the business can grow.
When business owners work IN the business they get results limited to the number of hours the business owner can put in. The business will never grow beyond a certain level.
A business owner’s results are driven by the TYPE of ACTIVITIES we do, NOT by the number of hours or days we put into the business.
We need to swap the Monday to Sunday System for the Red – Yellow – Green Day® System
The Monday to Sunday system was not built for business owners.
We need a system that focuses on better results, not on putting in more time.
I’ve noticed that all of the results for a business owner are a consequence of the type of activities they do or don’t do.
It’s why we designed a three colour activity system that a business owner needs to use to boost their results:
They are: Red – Yellow – Green Day® Activities.
Red Day® Activities = Working ON the business (finding ways to sell more pies)
Yellow Day® Activities = Working IN the business (making the pies)
Green Day™ Activities = NO work whatsoever (100% non-business activities)
Most business owners still operate as if they are employees in the time = money system. It’s why most businesses fail and will continue to fail irrespective of how hard they work.
It’s why most business owners fall prey to the 8th Day Of The Week syndrome.
Replace the Monday to Sunday System for Red – Yellow – Green Days® and watch your results magnify!
Red Days® are the days where you do strategic thinking and strategic work, where you work ON the business.
On a Red Day® you find ways to make the business better. You create/modify products or services for your customers. You create/modify systems for your business so that it can look, feel, sound and taste better to your customers, your employees, your suppliers and your lenders. You look at finding ways to get your customers to come back more often, get them to spend more with you (ethically), get them to refer to you, and get feedback from your top customers. It’s a relationship building day because relationships also equal money. This is all Red Day® work.
Yellow Days® are the days where you do the technical work of your business, where you work IN the business.
On a Yellow Day® you serve customers, you do the accounts, you open the business, close the business, you employ people, you order stock, you follow up on orders, and you check the quality of the work that goes out. It’s the ‘stuff’ of your business. This is all Yellow Day® work.
If you’re a business owner and all you get to do is yellow Day® work, then all you are doing is ‘stuff’, and if all you do is stuff, then all you’ll have at the end is ‘stuff all’. Harsh, I know, but I see it everyday and I am hell bent on changing that for you.
Green Days™ are the days where you do NO business.
Green Days™ means no business emails, no business reading, no business talking, no business thinking. So, what do you do on a Green Day™? Anything and everything that is not related to business. And yes, it’s the hardest day for a business owner to take, because they are so conditioned to work they wouldn’t know what to do on a Green Day™.
If it helps, let me share with you that I know exactly what that is like. In the early years, many business owners don’t take Green Days™.
When they do they almost felt sick with worry and guilt that they’re not working. As if everything was going to collapse or they are going to miss out on opportunities to make my business grow.
I know from experience that when they look back now it’s the complete opposite. I cannot imagine working on a Green Day™. I’ve become so accustomed to resting, rejuvenating, playing golf and catching up with friends on a Green Day™, that to think of working on a Green Day™ makes me feel guilty.
You can have half a Red Day® or half a Yellow Day®, but you can’t have half a Green Day™. With Green Days™ it’s all or nothing. I have achieved so much more as a result of changing to this system and I cannot begin to tell you how much better off my clients and I are. It’s a total win-win. Your business grows, your health grows, and you grow.
Remember: You get paid for your results, not your time. The Red-Yellow-Green Day® system is a results based system. Make it so for you too.
Our way of doing things is unique and it’s why it produces unique results for our clients…
We would love the opportunity to help you clear your head on what is the right way for you to accelerate your business…
We highly recommend you watch this step-by-step case study of how we grew Beefy’s Pies into a Famous Aussie Icon from a small stressed out bakery into a family owned chain. Click here to get all the insights into their success…
Or if you have heard enough about how we work with our small business owners, then let’s have an off the record chat about your current situation and see what we can do to immediately guide you…click this link to see what time best suits you.
P.S. Ask if our Boardroom Program intake is open for enrolments…It works best for business owners who see the benefit of having us on as their ‘external partner’ so that they are not alone in the day to day decisions of their business.