Build a Business that Can Work Without You
Can your business operate without you? If it can’t then it’s neither scalable, nor saleable.
Owner-Dependent Businesses Aren’t Scalable
It isn’t scalable because, for so many business owners, they ARE the business. At the very least, the business can’t function, generate revenue or grow without them because the owner is so critical to everything.
In small companies of this type, everything revolves around the owner; clients will only deal with the owner; they identify the business as being the owner; and the business would suffer if the owner wasn’t there.
A business like this has a growth ceiling because the owner can’t work any more hours and becomes the bottleneck.
For solopreneurs, the issue is the same – the business hits an income ceiling when it reaches the limits of the owner’s personal capacity.
Owner-Dependent Businesses Aren’t Saleable
What are the consequences of removing you? Often, in an owner-dependent business, when the owner is removed, the value is removed and so the business isn’t saleable.
Because, when the owner departs, so do the clients, and the key relationships. Knowledge and know-how is in the business owners head, rather than captured in systems, processes, templates and blueprints.
It’s Time to Start Thinking in a Leveraged Way
Having a business that’s reliant on you can be suffocating and overwhelming: you’re spinning every plate with the knowledge that stepping out would be detrimental to things and as a result you probably have limited personal time and freedom.
Because the business is unleveraged, you’re probably working twice as hard for half the return and you aren’t building wealth, long-term equity value or creating a saleable asset.
If this sounds familiar, then it’s time to start thinking in a different way.
We have helped hundreds of Entrepreneurs to build self-managing companies and, in doing so, increase time, freedom and equity value. We do this in the following ways:
- Building an Operations Manual: so that knowledge and know-how is locked into the business through processes, templates and automation, leading to the business becoming fully systematised.
- Reducing/Eliminating Owner-Reliance: by identifying those activities that only the owner can do and eliminating key-person risk. We call this firing you from your own business!
- Building a Management Team: who can eventually run the business on the owner’s behalf and have clear accountabilities and KPI’s linked to the owner’s vision or strategy.
- Shifting Mindset: moving from the Self-Employed mindset to the Business Owner mindset and helping you to change the habits and behaviours that prevent you from thinking beyond yourself.
- Separating Ownership and Management: just because you own the business doesn’t mean you need to run the business. We can help you to make the transition from Management to Ownership.
- Move from Being a Lifestyle Business to a Scalable Business: help you through the challenging transition of moving from “doing the job” to “building the business”.
- Professionalise the Business: eliminate any “lifestyle business” elements and run your company like a real business with operational rigour, a professional culture and clear accountabilities.
- Achieve Passive Ownership: build a self-managing company that generates revenue without you and can grow without you, providing options for sale, succession or increased personal freedom/wealth.