Have you ever felt like the bottleneck in your business?
Does it feel like nothing happens when you’re not around? You’re not alone.
Most would agree that there aren’t enough hours in the day or that the only way to make sure something is done right is to do it yourself. The passion and energy you initially had when you first started out begins to fade as you wear 7 hats to keep your business going.
There’s so much to do and it feels like it all needs to happen at once. You do the best you can and tell yourself that next month it’ll be different, and you carry on.
30 days pass and you’re busier than ever, you haven’t made any real changes and continue to face the same issues.
Another month goes by, then a few years, until eventually you decide to retire or do something else.
You decide to sell the business and the harsh reality hits… you are the business.
There was an article posted not too long ago titled “ What a Study of 14,000 Businesses Reveals About How You Should Spend Your Time” which concluded that founders of companies that kept their distance from customers actually sold their companies for 50%+ more than owners who knew all their customers.
Now this information shouldn’t be considered in a vacuum but a question worth pondering is what did those business owners (and others like them) do differently to be able to step back from the “front lines” of their businesses?
SMALL / BOUTIQUE
Can be built small by design. If done right the Owner/Operator can be happy as a clam to have the freedom to come and go as they please.
However more often than not…
Owner/Operator is the bottleneck as all decision-making authority remains within his/her discretion.
Much more emotion driven decision making as Owner/Operator is personally involved in customer interactions.
Owner/Operator needs to know everything about everything.
Since the Owner/Operator is on the front lines decision making is often short term as it’s difficult to step back and take stock of the bigger picture.
SCALABLE & SALEABLE
Built by design by an entrepreneur looking at the business, industry trends and future prospects several years out.
#’s driven business model focused on increasing revenues, reducing ongoing operating expenses and driving more $$$ to the bottom line. Experts are retained or hired depending on need and resources.
Systems and process driven approach to reduce risks and vulnerabilities the business is inherently exposed to.
Big picture approach with short, mid and long-term forecasting for growth prospects, revenues and expenditures.
For many of you it’s initially difficult to take such a sterilized approach to your business. Regardless of your goals, it takes tremendous courage, passion, grit and drive to get an idea off the whiteboard and into the real world.
If however, you’re ambitious enough to build something scalable & saleable you’ll need to be humble enough to surround yourself with people smarter than you and continue to come back to that whiteboard.
To Your Success,
Marcin has been instrumental in building several businesses including commercial & multi family real estate investment partnerships, a consulting practice and a smart home security business serving customers nationwide. Marcin has secured over $100MM in growth capital for various businesses and has collectively spoken in front of thousands of entrepreneurs, business owners, investors and those just starting to explore living life on their own terms. Outside the office Marcin can be found at the gym lifting heavy things, skiing or on the road zipping along on an extended bicycle ride.
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