Are You Running a Business or a Practice?

Posted by kkochenberger under Strategy
From http://thoughtleadershipleverage.com 3992 days ago
Made Hot by: PMVirtual on May 21, 2013 10:59 am

There’s a big difference between running a business and running a practice. A practice is dependent on you as the author or thought leader to deliver all the solutions that generate revenue. A business is an asset that can ultimately be sold, that generates cash flow and recurring revenue.

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Comments

Written by BizRock
3990 days ago

This is a great, informative article.

Thanks for sharing your insights with us. I hope to see more of your content here soon...

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Written by AngelBiz
3992 days ago

Very interesting and thought provoking article. The transition from practice to business involves creating repeatable process / tool / template that can be handed over to someone without sacrificing the quality of the output. This is the same difference as running an independent business and creating a franchise that can be operated by others.

This is the only way you will be able to scale your business without you being involved in every aspect of running it.

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