The definition of a business is – A commercial, profitable enterprise that works – without the owner!
Many business owners are taken back and even offended by this definition. How can my business work without me? Others say it is a great concept but not realistic.
A few get it.
If you are not one of the few, for the next few minutes, please, set aside your “knowledge” and pre-conceived ideas. Be willing to find this “interesting”.
A Business is a Commercial, Profitable Enterprise That Works Without You – the Business Owner
Once you “get this”, it will open your business mind to a whole new world.
If you own a business that works profitably and consistently without you, what kind of business is it?
Is it strong?
Is it stable? Is it attractive to someone looking to buy a business? Is it worth more than a business that demands that you be there for it to function? Of course!
If you own a business that does not work consistently and profitably without you, what kind of business is it? It is a weaker business model than you may think.
The Less a Business Needs the Owner the More Valuable It is as an Entity
At the point you HAVE to be there for it to work, that is the point of vulnerability. If you are pivotal to the functionally of your SME, if for some reason, you can’t be there, the business will start to suffer. It may even fail – depending on how long you are absent.
What if you don’t always want to be there? If it doesn’t work consistently and profitably without you, then you can’t ever leave.
And that’s OK for the first few years, until you start to burn out or at least get bored.
Then as you slip (you are a human being, not a superman or superwoman), the business slips. The thing that excited you and brought you such great joy has become a cage.
Of course you love your business and your customers. And that presents the problem. Parents deeply love their children, as they should. That too presents a problem. They sometimes don’t want them to grow up.
Business owners that have nurtured and cared for their businesses often don’t want to let it grow up. And that is not healthy. Your business wants to grow up.
The 6 Steps to Building a Strong and Successful Sme Business
There are 6 steps to make this happen: Mastery, Niche, Leverage, Team, Synergy and Results.
Getting traction at each step is how you can grow your business and set it free. Free to provide you with money and time and value and… a life. It can happen. I see it every day
Think about it – “A commercial profitable business that works without you”.
Business Coaches and Business Mentors are change agents. And we are but half of the equation. The other half is down to our clients. They have to choose to change their behaviours and embrace better ways of thinking.
A great Business Coach will increase the odds that their clients will “stick with the plan”. But only the client can choose to stick with it and reach their desired targets.
How Do I Know This?
Like you, I’ve been in the driver seat of a business, and found myself spinning wheels and struggling to manage people. The fear nearly killed me, and I burned out before I decided enough was enough.
Working with business owners. who are searching for an integrative business growth strategy. as a Business Coach today, it never ceases to amaze me how much pain business owners are willing to endure. Some of them need to get close to rock bottom before facing their fears and making a shift.
I get it. I have been there and I got the T-shirt. In fact I have a drawer full of T-shirts!
You can read more about my journey from legal professional, to business owner, to #1 Business Coach here:
