Build Your Ideal Business: A 4-Step Framework

Read on: gibusconsulting.com

Happy Hump Day!

Here’s 1 list for you to digest.

What to expect below:

• List - Tim Ferriss’ 4-step framework to get clarity when creating and growing your business

(in a 2 minute read)

↳ 4 Step Framework - Building your ideal business

In the 4-hour work week, Tim Ferriss outlines his powerful framework for helping aspiring entrepreneurs get clarity early in their journey.

We often try to take on too much with no direction when starting. A methodical easy to implement process is far more beneficial.

He calls it D.E.A.L.

Definition - Elimination - Automation - Liberation

I’ve broken down the steps in an easy-to-digest way so you can apply the learnings.

This is a great approach for those building a side hustle who are limited on time. It helps you focus your efforts on what really matters.

Here it is ↓

#1 - Definition

This is about setting clear goals and overcoming some of the mental barriers that could stop you from starting.

It’s important to

• define what success looks like,

• quantify your goals,

• and confront fears that may be preventing you from taking the first steps

Are you charging too little?

Are you avoiding sales calls?

#2 - Elimination

This step is about identifying and removing unnecessary tasks and focusing on activities that directly contribute to achieving the defined goals.

Remove the trivial many for the critical few.

Prioritise your efforts on things that get results and less on the ‘busywork’ that feels comfortable.

• If you have a business - you have to assess what is working and what isn’t working, so you know what to eliminate.

• If you’re starting out - you have to assess what activities are most crucial to move the needle in a positive direction.

Is building a fancy website the best use of your time, before validating your idea?

#3 - Automation

Take the remaining tasks and create systems that allow you to scale.

Reduce manual effort and increase efficiency. But if you’re starting do not try to automate everything.

When the 4-hour work week was published in 2007, Tim’s approach to automation was mainly through outsourcing tasks to free up your time.

In 2024 there are tonnes of tools to help you.

Having identified the tasks that positively move the needle - look at making them more efficient through tech.

Some basic examples:

• Allow customers to book straight onto your calendar instead of filling in a form - calendly.com, cal.com (some providers)

• Email marketing - create an email sequence that turns leads into customers. All pre-loaded

#4 - Liberation

This is the ultimate goal.

To achieve a level of business operation that allows for personal freedom and mobility.

Something that you can repeat and is predictable.

By defining your goals in step 1, you should have clarity about what you’re working toward.

Do you want to travel and work remotely?

Do you want to be less involved in delivery?

Whatever it is. You decide. And make sure your actions are bringing you closer to that.

Conclusion

This 4 part framework will serve as a great foundation whether you’re just starting or an early-stage entrepreneur looking to refine some things.

Give it a try and let me know how you get on! (I mean it, happy to discuss)

Other newsletters to consider:

I hope you found this helpful.

That’s all from me.

See you next week.

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