Achieve Financial Success through Leveraging Systems
The ultimate aim of any income stream and achieving financial success is to make it work on autopilot or with minimal supervision from you. This can only be achieved by putting proper systems in place so that it can function without your intervention. This is the ultimate leverage that will free up your time and effort to devote to other important things in life such as family, travel, leisure, creativity or other ventures that will create new sources of wealth for you.
When I was in the Navy, we had a saying that it was a system designed by a genius to be run by fools. All the procedures were laid out for us to the last detail. We knew what action to take in an emergency, what logs and forms to fill up, how to demand stores, etc. When an order was given to ‘dive’ or ‘surface,’ every crew member who was on-board the submarine knew exactly what action to take. Nothing was left to chance.
Buy a System
A well-run income stream or business should be run in a similar manner. The problem is that most of us know how to work within a system designed by others, but are clueless when it comes to designing a system for our own work or business.
The answer to this problem is to buy into a system that is very closely related to your work and adapt them to your requirement. An alternate solution is to work with an expert who has the skills to design and set up systems.
To leverage our time and effort, we have to be on a constant lookout for setting up systems to free our effort and time. These can be very straightforward things like: setting up automatic online payments for our bills or more sophisticated automated systems to put our business in auto pilot. There may be some cost and effort involved to initially set up the systems, but once they are in place, they free up your energy to do more creative work. The aim of any good system is to take care of the routine work thereby leveraging time and effort for creative work.
To become rich you need to have proper systems in place–QED. Without SYTEMS, you are doomed to failure. Research has shown that 94% of the failures are not due to the assumption that people don’t do a good job, but because either they are using the wrong business systems or have no systems in place to start with.
For the ease of understanding, the right acronym for systems is:
Save Your Self Time Energy Money
If you want to make money, then search and find a money-making vehicle that has successful systems. You will save time, energy and money if you have systems in place before you embark on money-making ventures.
If you don’t have the skills to set up systems, then buy into business/ investment ventures that have systems in place. Every enlightened wealth creator knows this simple truth. They buy into time-tested predictable systems that will do the job for them. That is why when initially starting your own business, it may be wiser to buy into a franchisee that has strong systems rather than building your own from scratch. Chances of failure will thus be reduced. As you gain experience, you can develop your own system.
Once you have systems in place, the system will churn out money for you. All the work is done upfront to set up the system. You will only need to fine-tune it, once in operation, to make it work optimally.