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7 Steps to Building a Smart Business Engine With Luke Fatooros - Step 5. Optimise Your Efficiency (and Your Quality of Life)

Key Points:

We've all been in a spot in our business where we're trying to work out how to get from A to B or how to get to the next level. But what is the next level? How many levels are there?

Luke Fatooros from Ideas Into Business shares with us the 7 steps to building a smart business engine to give you time, money, and freedom.

Play and listen to the podcast below or scroll down below to learn how you can optimise your mindset, the fifth step to having a smart business engine.

5. Optimise Your Efficiency (and Your Quality of Life)

Luke: The real money is not in your products and services. It's in your ability to leverage your energy to sell your product. This is how you start to release yourself from the daily grind.

All the stuff has to be in place and then you're ready to start to optimise efficiency. You want to build a smart business engine that does the work for you.

Luke: There are four ways to become efficient.

1. Stop trading time for money. 

2. Have an unlimited earning structure.

3. Systemise your business.

4. Join ventures.

Create a system to build a business that will give you freedom. Let's talk!

When I started my ink distribution business, I entered a joint venture with an agent in Hong Kong. He set up my factories in three months. I approved the concept in New Zealand, which I did through one distributor going to meetings with all the bits, but they had all the context, sales staff, etc.

That's how you release yourself from the daily grind. Once your business starts to work for you, that is when you start to enjoy life as a business owner. However, this is a process. It's not a magic formula.

Josh: If you don't have a good foundation, everything will just collapse in a heartbeat. 

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