You see, every business owner we have worked with started their business for one of two main reasons:
Have you ever really looked at the following two questions?
Why did you start your business?
Why are you still doing it?
- They wanted to be their own boss
- They thought they could deliver a service (whatever it was) better than what was already available
Yes, there are other reasons but these are the main two that have come out of our surveys of the hundreds of business owners we have spoken to over the last ten years.
So that is the first question answered. Tick!
But that is where the challenge is...question two.
The vast majority of clients who we have worked with started with the best intention, but struggled to find a reason how they could remove themselves from the day to day.
Meaning that the answer to why they were still doing it, was that the business could not release them enough from "doing the do."
There was a huge reliance on them being part of it - now if you are a "one-person-band" this makes sense, but the value in a business is when you are not in it.
You see, a business that runs automatically (i.e. through processes and teams that do the day job) has a much higher sale value than one that relies on the owner to play a functional role.
"Wow - guys that is a little deep, but also a little too straightforward..." you may be thinking - so let's break it down a little.
If you do your own accounts, cleaning, selling, posting, printing etc etc then you are really limiting your business value - as all of these activities could be done by someone, paid less than the cost of you doing it...TO DO IT!
So think about the things that you do in your business that could be done by someone else.
Once you start seeing these, you can start to move towards more revenue driving activities, grow your business further and generate even more value for you.
The answer to question two is that you should be building value in your business to release you from the day to day.
Sell it. Pass it onto a family member and draw dividends whilst you are sat on a beach - or something else.
It's your choice.
Speak soon,
James
