Operates profitably without the founder

A true business is a system that can operate and generate profit without the direct involvement of the founder. If the business relies on the founder for its core operations, then it's not a business, it's a job.

This is a crucial distinction for entrepreneurs who want to build a valuable asset, not just create a source of income for themselves. A business that can run without its founder is a business that can be sold, scaled, and that provides true freedom.

To build a business that can operate profitably without you, you need to focus on:

• Systems and processes: Documenting and standardizing the way work is done, so that it can be delegated to others.
• Hiring and delegation: Building a team of capable people who can take on the responsibilities of the business.
• Profitability: Ensuring that the business has a healthy profit margin that can support the cost of a team.

This doesn't mean that the founder should be completely absent from the business. The founder's role can evolve from being a doer to being a leader, a strategist, and a visionary.

The ability to operate profitably without the founder is a key element of the 9 Elements of a Great Bootstrapped Business Idea, and it's a goal that every entrepreneur should strive for.