Hello and welcome to Business 300. My name is Philip Kulenshov and this is 300

seconds about business. We're all a busy people, so I have five minutes or less to get my point across.

All right, let's do another five minutes.

One of the biggest differences between business owners who stay small and involuntarily,

and those who grow their business past eight and nine digits, is this.

Systems thinking.

Hard work, risk, and decisiveness are all necessary traits for business ownership of any size.

These are not traits that every person has, and so not everybody is able to last as a business owner. In order to even own and operate a business, you need a certain level of comfort with

risk and decision making. Whether you're a one-man show or have a few employees, you don't get

there without hard work, a risk appetite,

and an ability to make decisions. But although those traits continue to be ever important,

they only get you so far in your business growth. If you can't seem to pass a certain size

in your business, I'd bet money that your problem is a lack of adequate systems. You first had

the ceiling when you max out your own

operational capacity and have to hire an operator. Depending on your business, this might happen

around a couple hundred thousand dollars in annual revenue. You need systems to manage operators

distribute work and resolve issues. But if you can build the systems you need to hire

and manage one operator, you can then hire multiple operators

with a few adjustments to those systems. You've grown. But then, you hit a ceiling again when you

max out your managerial capacity. You now have multiple operators and you can only manage so much

nuance and issues. You need to build systems to standardize and streamline work activities and

manage the operators, as well as systems to

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