If you’re a business owner, chances are good that you are your hardest-working employee. You may even be your only employee. You answer the phones, respond to incoming email messages, and perform all business functions.

It’s probably you who handles the marketing, business development and sales, bookkeeping, customer service, shipping, receiving, inventory management — in addition to developing and offering products or services of value to your customers.

That’s what we refer to as working in your business. Without you, the business would fold, and if you ever wanted to sell your business, you’d find yourself in an acqui-hire scenario, which is a common way of saying that the business is being bought primarily for your skills and expertise, because you are the business.

Imagine This, Instead

You’ve built a business that practically runs itself. You have systems, procedures, and policies in place that provide clear guidance on nearly every aspect of your business. You have a well-trained staff that’s capable of running the business even when you’re not there. You’ve managed to delegate nearly every essential task. You’ve essentially promoted yourself from employee to CEO.

Your focus now is on improving and growing the business — analyzing data, learning more about the sectors and verticals you serve, identifying new opportunities, coming up with new ideas, and developing your overall approach to business. You know, the fun stuff! You meet with your business manager once a week to answer questions, address any problems, and discuss ideas and plans.

You have more flexibility in your schedule and more free time to enjoy life and pursue other interests, more time to spend with family, fewer worries so you can be more present for your loved ones. Your business continues to operate smoothly whether you’re there or not.

You’ve created a self-sustaining business entity. You can sell the business whenever you want for a great price (assuming it’s profitable or has unique assets) and walk away without diminishing its value in any way.

That’s what you get when you work on your business instead of in it.

Beginning with the End in Mind

Most business owners start with little or no forethought or planning. They don’t think ahead about what Continue reading… Continue reading… Continue reading…