Last week, we covered five foundational decisions to set your business on the right track—your opening moves. But building a great business isn’t just about a strong start; it’s about connecting your goals to a bigger picture.

Today, we’ll dive into five advanced decisions that will help you bridge the gap between where you are and the business you want to create. Think of these as the strategic moves that can promote your pawns to power players.

Let’s get started!

6. What Will You Spend Most of Your Time Doing?

When building your business, think about how you want your days to unfold. Will you be talking to customers 1:1, answering spontaneous phone calls (something that comes with giving out your number—definitely a choice you control!), or having regular in-person meetings? Or do you want uninterrupted focus time for creative work, developing new products, or refining processes?

Your daily tasks should align with what you truly enjoy. If you want freedom and flexibility, consider offering office hours or scheduled calls instead of being constantly available. If you love coaching or customer service, be prepared for the time commitment of booking clients weeks or months in advance. On the flip side, if you prefer to dive into developing the next product for weeks on end without interruption, you might want to steer clear of operations that require constant customer interaction, direct sales, or face-to-face meetings.

Think about what you don’t want to spend your time doing, too. Make sure the business model you choose supports your preferences, or you could end up burning out from the tasks you least enjoy.

7. How Will You Finance the Business?

When we think about financing our business, we often assume we need money right away. We spend a lot of time figuring out where it will come from—whether it’s investors, private loans, or crowdfunding—but we rarely stop to ask: do we really need it at all?

Bootstrapping is often dismissed, but I’m a big believer that many of us can fund our own businesses if we get creative. Constraints, like having limited funds, can drive innovation and force us to be smarter and more resourceful. Sure, bootstrapping isn’t always easy, but if you can pull it off, starting profitable from the get-go gives you incredible freedom. It allows you to make decisions on your terms, lowers your risks, and keeps you from getting tied to outside pressures.

However, if you do decide you need funding, there are a variety of options to consider: bootstrapping, investors, loans, crowdfunding, government grants, angel investors, revenue-based financing, partnerships, pre-sales or subscriptions, borrowing from family and friends, and revenue from other ventures.

8. How Will You Generate Revenue and Manage Cashflow?

When it comes to your business finances, it’s not just about how you fund your business or what you sell—it’s about how the money flows in and out of your operation. How you set this up will impact everything from your risk to your stress levels, and it’s a crucial decision you shouldn’t overlook.

Income vs. Cost Structure

• Will you have recurring costs (e.g., subscriptions) but rely on one-time sales (e.g., product sales)?
• Or will your income model be aligned with your cost structure, creating predictable, consistent revenue (e.g., consulting gigs or membership fees)

Cash Flow Timing

• Will you build products first and then sell them, tying up cash upfront?
• Or will you sell the product first (e.g., pre-sales or deposits) and then build, reducing initial financial risk?

Revenue Models to Consider

• Subscriptions: Regular, recurring revenue, creating more predictable cash flow.
• One-time Sales: Can be high-volume, but can also lead to cash flow gaps.
• Consulting/Service Gigs: Flexible, but may require frequent client acquisition and can vary month to month.
• Licensing Fees: Can generate passive income once the product is built and the license agreement is in place.

Funding and Growth

• Bootstrap and Start Earning Immediately: If you need to fund the business yourself and start earning right away, your revenue model should focus on fast returns.
• Invest in Long-Term Growth: If you have the capital to invest upfront, you can afford to build a more sustainable model with higher upfront costs, but potentially slower revenue generation.

9. How Will You Acquire Customers?

Your customer acquisition strategy will shape not only your marketing efforts but also your operations. Here are some key areas to consider:

Marketing Channels

• Social Media: Powerful for brand building but requires consistent content and engagement.
• Paid Ads: Fast traction with a solid budget, but requires ongoing optimization and attention to ROI.
• Word-of-Mouth & Referrals: Low-cost, but depends on providing a great customer experience and nurturing relationships.
• Partnerships: Accelerates reach with complementary businesses, but requires relationship-building and possible revenue sharing.
• Email/Content Marketing: Builds long-term loyalty, but requires patience and consistent effort to nurture leads.

Sales Process

• How will you convert leads into customers? Will you automate the process, or invest time in direct sales (calls, consultations)? Consider how this fits with your overall time and resource management.

My advice: Keep it simple and play to your strengths. For example, I prefer making YouTube videos over cold calling potential clients. Find what works for you and align your strategy with your operational strengths.

10. How Will You Scale the Business?

When your business is ready to grow, how will you make it happen? Scaling is your endgame, and having a plan ensures you don’t lose sight of your goals when the board gets crowded.

• Expanding Offerings: Adding new products or services requires careful planning for development, inventory, and support. Can your current systems handle this?
• Entering New Markets: Expanding geographically or to new segments requires research, marketing, and logistical adjustments. Are your operations ready for this?
• Hiring a Team: Growth often means hiring, but it adds recruitment, training, and coordination challenges. Can you manage these efficiently? And do you even want to?
• Automating Processes: Automation can reduce manual work but requires investment in tools and ongoing maintenance.
• Not Scaling: Here’s a crazy thought: you don’t have to scale at all. Staying small allows for simplicity and control. If you choose not to scale, it could mean better work-life balance and fewer operational complexities.

Every Game You Play

Every breath you take, and move you make, every bond you break, every step you take… I’ll be watching you!

Not me, though—that would be creepy.

But those big dreams you had when you started your business? They are keeping score. Are they winning, or are they gathering dust in the background?