Laura Humphreys, author of Liber8 Your Business, believes there are eight disciplines of business that will help you find value to your company while developing wealth for yourself. And, when these principles are followed, a clearer perception of how your business will look after all of those hours of hard work can be developed. In a recent herBusiness interview Laura explains how some people get trapped into creating a job for themselves instead of a business because they don’t structure the business to be able to operate independently of themselves. Laura believes we must keep in mind the end result – even if we are just starting out in business.
“A business is a project and you need to ask yourself: “What am I creating?”, “What am I trying to do ?”, and “What is the end game?”.”
These questions are important when understanding how to build a valuable, saleable, and scalable business. According to Laura, establishing a vision and plan are two of the most important tasks a business needs to complete early on. The plan needs to be broad and the key strategy is to map out an annual schedule to assist you in achieving your one-year milestones.
“The purpose of your vision for your business is “to inspire you”, to make a difference, and “bring drive to your team”. After you create your vision make a plan,” Laura says.
In her book, and in the interview, Laura also explains why recruiting the right employee is vital to your business. Recruiting the right person not only enhances your business but also saves you money. As a manager, your job is to bring the drive to your employees. However, Laura states that not all managers have the skills to recruit their own team. She suggests the key to optimising recruitment for your company is to find a human resource (HR) consultant that knows how to hire the right team for you. When it comes to achieving value in your business Laura recommends continuing your education and she is a big believer in finding an expert or mentor in your industry when starting something new. Laura emphasises how mentors help you stay accountable and disciplined to achieve your end goals in your business plan. Listen to the interview with Laura Humphreys, here.
