Can your business manage without you?
I hope you had an amazing time over the festive period catching up with friends and family. Mine was challenging, minor back pains, which escalated into only being able to lie on my side for over 3 weeks. Totally debilitating for not only for me but also for my business. At the moment, I am the only person in my business that can deliver business coaching; as soon as I can’t work then my business grounds to a halt.
Whilst I always knew this it didn’t hit home until the worst happened. My priority now is to get well & start planning to build a business that can work without me.
How robust is your business? Can you genuinely be away from it for a month with no ill effect, or are you like me – those things happen to other people & I will be ok. Whilst it definitely was a dampener on my Christmas the lessons that I will take away are priceless.
To get the business that can work without you requires effort, planning and action; it’s not a quick fix. What it does give you is choice and some financial security. Here are some key areas that I work with clients on to give them a scalable, self-running company:
- Systemisation throughout all areas of the company
- Consistent ways of working fully documented; supported by templates and technology
- Building a strong team
- Clear roles and responsibilities with effective performance management
- Identifying skills sets and developing them further
- Getting the culture fit; making the company something people want to be part of, recognising the right behaviour and values.
- Tracking the right numbers
- Most companies I meet are only looking at a fraction of the numbers they need to. It is vital to look at how well marketing strategies are working how strong your sales process is, are you customers getting the right service and essentially have you got cashflow and are you making profit.
The steps to do this are reasonably straight forward, what is less easy is getting out of your own way. Building a business for many is like nurturing a child, going through the good times and the bad. Handing over being in charge or letting someone else have responsibility means letting go. The areas listed above all help to make that letting go less painful and reduce risk.
If your company still depends on you it may worth taking some time to think through what you can do. Some people are happy to be an essential part of their company, this is buying yourself a job – great until your health goes or you want to retire. If you want a business that can give you a passive income or one you can sell then it needs to be able to run without you. Let me know if you want peace of mind on how to do this and let’s talk it through. Please get in touch – email@example.com.
Have a successful week