Porter’s Preface: I Never Want to be a Doctor (And Certainly Not a Lawyer!)

June 2nd, 2009 by Sharon Larsen

We open Chapter 9 of Bootstrap Business with Ron’s introduction to the idea of scaling your small business

 

 

Rich and I have several family members who are doctors and lawyers. This chapter is certain to offend them. But here is the reality: if a doctor isn’t in her or his office sticking a tongue depressor in someone’s mouth or snapping on a rubber glove, he or she is not making money. Attorneys are no different. Sure, their rubber gloves may be metaphorical, but the outcome is the same. The only way these professionals make money is by putting on the gloves. Now, we both realize there is nothing wrong with choosing either of these professions. They just don’t scale very well.

 

The three sections in this chapter deal with the importance of scaling your business. The first section deals with the brutal fact that some types of business are simply more inclined to scale or grow than others. It is critical that you carefully consider your idea’s potential for scaling—for better or worse—when deciding whether or not you want to turn it into your business.

 

The second section explains the difference between an asset and a job. The purpose of this section is to help you get in the mindset of building a business that is an asset, not a liability.

 

The final section shows the importance of your timing in scaling your business. Rich and I have both learned from personal, painful experiences how important it is to get the models and structures in place before growing your business. It may be hard to believe, but growing a business too fast and without an effective process guide can be as big of a problem as that identical business not growing fast enough.

 

 

Now that you have a taste, we’ll dive into the first section next time!

 

 

No Comments »

No comments yet.

RSS feed for comments on this post. TrackBack URL

Leave a comment