Building a Business System - My Happy Assets Small Business Coffee Hour

Below is an excerpt from my second book My Happy Assets - Small Business Coffee Hour

If you like what you read, check out my first book, My Happy Assets at http://www.myhappyassets.com/ and the complete second book, Small Business Coffee, Three Essential Ingredients for a Successful Business athttp://www.smallbizcoffee.com/.

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“In this picture we are buying passive cash flow producing assets that generate enough cash flow to make us financially independent. The key word here is passive. The other asset classes I have described include dividend paying stocks that once you have made your investment are passive, rental property which becomes passive once you hire property management and covered call options which only require some up front research.

“Now, the question becomes, how the heck is your business going to fit into this picture?” I asked.

“I don’t see that it can,” John replied. “You have to work in a business. No matter what, it is going to require your time commitment and I don’t see how it could possibly fall into a passive asset category.”

“And that’s what most people believe John and not only is it not true, I believe it leads to a downfall on two fronts; One, you eliminate financial independence because you are essentially working a job and two, you set the business up for failure. I would argue that in order for a business to have its greatest chance for success, it must be a system.