If you own a business that depends on you personally for its growth, either in terms of
technical ability or sales, then you will experience a challenge where your business will plateau or even struggle to survive. You effectively have a job and if you are like most people in a similar situation, you have a job that pays very little if you divide your income by the actual hours that you work.
So what can you do about this?
Well, all is not lost and there are steps that can be taken to enable you to have a business that is less dependent on you and more dependent on systems, lower paid administration staff and lower paid, lower skilled technical staff. It is often referred to as leverage or systemisation.
You see, not everything has to be done by you. You are not the best at everything. You were never the best at everything, you just started to think this way because you never stopped to really show anyone else how to do the job properly and explain why the job needed to be done properly. Often not easy to accept, but in most cases it is the truth.
You have to break your business down into the various function and then decide how many of them actually required you to do them (not today, but if someone else was trained properly) You then have to start the process of recruitment and delegation. You business may require improved cashflow, to enable some investment in team but this can be part of their role as well and if you are as busy as you say you are, then this will look after itself.
There may be revenue generating aspects of your business that do not require your involvement at all. You you are an accountant, are there services and products that you can sell that does not require your involvement – yes there are.
There may be areas that you have never explored because you were too must – now is the time to start the process properly. Are there products and services that you clients are buying from other that you have never bothered with because you were too busy? Now is the time to explore and this can be very lucrative because the sales acquisition cost is low.
As a business owner, do not get trapped in the JOB, earning little and working hard. Get a FREE Profit Checkup with me – call me today – 087 222 0720