Why Most Small Businesses Don’t Work
(And What to Do About It)
Your job as a business owner is to work ๐ผ๐ป your business, not ๐ถ๐ป it.
This is the premise of a famous book I highly recommend:
๐ง๐ต๐ฒ ๐โ๐ ๐๐๐ต ๐ฅ๐ฒ๐๐ถ๐๐ถ๐๐ฒ๐ฑ by Michael Gerber.
It dives deep into two key concepts:
1. ๐ง๐ต๐ฒ ๐๐ป๐๐ฟ๐ฒ๐ฝ๐ฟ๐ฒ๐ป๐ฒ๐๐ฟ๐ถ๐ฎ๐น ๐ ๐๐๐ต
The belief that most people who start small businesses are entrepreneurs.
2. ๐ง๐ต๐ฒ ๐๐ฎ๐๐ฎ๐น ๐๐๐๐๐บ๐ฝ๐๐ถ๐ผ๐ป
Thinking that understanding technical work means you can successfully run a business.
It also discusses why 80% of small businesses fail and gives a framework to build a business that works for you.
(Buy the book, its worth the investment – link in comments)
In the context of property investment, hereโs what I cover in Chapter 9 of my book:
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Focus on strategy
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Avoiding the DIY trap
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The power of a team
This also means having a great team around you of:
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Tax accountants
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Legal advisors
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Real estate agents
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Mortgage brokers
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Property managers
๐ Follow me for more property tax insights.
