Why did you get into business in the first place? What did you aspire to?
If it was to eventually get time, money and lifestyle freedom, are you on track? If not, here’s our recommendation for moving forward…
Transcript
My name’s Rashid Kotwal.
As a business owner you probably started out small. Maybe just yourself or with a partner. Everything revolved around you.
And over time you got really busy and decided to put on some staff.
Now you find yourself working longer and longer hours, stressing about how to pay their wages and often not taking home any money for yourself.
You don’t get holidays and wonder if you’d just be better off getting another job. Or you think wouldn’t it be wonderful to just go back to yourself and deliver without all the other hassles.
This is a scenario we see all too often. Having said that though, you can fix it.
As Steven Covey put it, start with the end in mind.
Why did you get into business in the first place? What did you aspire to?
If it was to eventually get time, money and lifestyle freedom, you need to set your business up to accomplish this from the get go .
Which means creating a business that can be sold netting you a big payday.
And everything you do should be through that filter. Now just so we’re clear, I’m not suggesting you have to sell your business. But setting it up so it can be sold is the best way to get leverage and eventual freedom.
Start to let go. Delegate. And accept that not everything will be done exactly the way you would have. Get over it.
Hire people better than you. Even if you can’t initially afford them. People who take responsibility and deliver.
Make yourself totally dispensable. Build a team that can run the business without you. That’s where you get leverage.
Realise that you’re not running a charity. If someone consistently isn’t performing, let them go.
And finally understand there can only be one captain.
Your job is to set the vision, develop the strategy and have others execute.
But it all starts with a decision.
Over 2 decades we’ve helped business owners create leverage and create businesses that they can sell. And I know we’ll be able to help you, if that’s where you want to take your business. So if that’s the case reach out.
Details are at revealedresources.com.
Till next time, this is Rashid Kotwal.
