It’s sad that a lot of entrepreneurs end up being slaves to their business. Rather than living their dream of being the ‘Boss’, they spend long hours in their business trying to perfect every detail of it. But while some (especially the workaholic types) find satisfaction in it, others end up stressed out. In fact, according to a local business broker from https://floridacertifiedbusinessbroker.com/, burn out is among the top reasons why entrepreneurs sell out their business.
I’m pretty sure you didn’t start your company to be slave to it. Your business should be working for you and not the other way around. You want to build a company that can operate without you. This is not to say that you are unnecessary; but instead your company should have established processes and systems that enable it to work without you checking on its minor details. You should be spending your time growing your company rather than getting caught in mundane tasks.
Here are some helpful tips you can do now so your business can run even without you at its helm.
1. Be clear with your goal
If you want a business that works for you, make this your business goal. The problem with many entrepreneurs is that they set a certain amount of revenue as their goal. To achieve this target, they stretch themselves too much, working even on minor task. While revenues could serve as short-term objectives or milestones, numbers should not be your ultimate goal. Your goal should be a company that can operate without you.
2. Make yourself expendable
A lot of businesses are very reliant on the owner for its daily operations — but this should not be the case. On the contrary, business owners should be replaceable and redundant. It might sound ironic but you don’t have to be on top of everything, every single day. How can you make yourself dispensable? Through training and developing standards and processes. By training your staff, you empower them to perform the company’s essential daily functions. You should also establish standards and processes that can guide your team in running its operations without your micromanagement.
3. Hire the right team
A key to running a business without you at the helm is by hiring the right people. Always remember that the greatest asset of an organization is its people. So you want to find team members who do not only meet the educational and skills requirements of a job position but also share your vision. Develop your team, empower them and grow in them the values that your company embodies. If you have the right team, you can rest soundly without ever worrying about your business.
4. Make the most of technology
Technology has made running a business a lot easier. There are a lot of tools that can help simplify and make your business more efficient. For instance, there are instant messaging apps such as Slack, Viber, Skype, etc, that let you control your business remotely. You can find tools for various business processes, such as accounting, marketing, customer relations, and so much more. Technology has also made outsourcing available. With outsourcing, you can work with the best talents from around the world at a lower cost. Embrace technology and innovation to create a system that allows decentralized and collaborative work.
5. Focus on planning and building systems
For your business to be fully independent, you have to continuously plan and build its systems. You should be spending more time planning larger goals instead of working on daily operations. Study your systems and learn how you can improve them. As you improve and build more systems, you’ll be able to empower your team and make them more capable of handling their day-to-day operations.
Finally, make self-care your priority. Successful entrepreneurs consider leisure living as their goal. To them, their biggest priorities are health, sleep, and family life. If you make this as your vision, you will be challenged to take your business to the next level – and that is to operate your company without you running it!