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Chuck Blakeman is back with us for part 7 of our new series covering different elements and tools from his first book, Making Money is Killing Your Business (MMIKYB). Today we are talking about what does it mean to have a mature business? One of the fundamental mistakes we make is to measure our business against itself instead of what it provides to us as business owners.
A business is mature if:
1. The business owner is no longer the only producer. They may produce, but it’s a choice.
and 2. The business makes money when the owner is somewhere else. Meaning, the business is producing time and money.
A mature business always has two attributes: time and money.