The “Hit by a Bus” Test
If you were hit by a bus tomorrow (or otherwise incapacitated), what would happen to your business?
This is a question posed by the authors Jeff Hoffman and David Finkel in their book, Scale - Seven Proven Principles to Grow Your Business and Get Your Life Back.
I’ve only finished the first couple of chapters so far, but here are some key takeaways:
Build a business, not a job. Don’t be so busy working IN your business that you aren’t working ON growing your business.
Focus on fewer, better activities and cut out the lower-value distractions.
When you are able to be away from your business without a phone call or email asking for your help, you have built a business that can continue to scale organically. To make this possible, you need to put four systems into place—for finding leads, closing sales, producing your product or service, and collecting your receivables.