The majority of business people start their business because they like doing their job. Designers start design firms because they like designing. Landscapers start their businesses because they enjoy landscaping. Are you running a business or do you just own a job? The difference is making sure you have a process to get the work done.
The difference can be summed up in one question. What happens if you step away? If the business can’t operate without you, then it’s just a job. A business can continue to operate if the owner steps away. More importantly, customers must be able to get the same quality of service whether the owner is there or not. Aside from benefits to the customer, there is the benefit to the owner of being able to take vacations, bring in income even if the owner isn’t involved in the day-to-day operations, and ultimately build value in the business if it is sold. Here are some tips for making sure your business can go without you.
- Document your processes: Write down step by step how to do your job. Make it simple so anyone who needs to do the job can follow the process with no confusion.
- Hire good people: This includes freelancers, consultants, part-time and full-time. Whatever your business needs, make sure you have a good rapport with the people working for you and make sure they can work well with your clients. It also includes suppliers and vendors.
- Track your finances: use a good bookkeeper if you’re not a numbers person. Your books are crucial if you want to retire and sell the business. You can’t wait until you’re ready to retire. Start now.
See how a Modern Observer Group coach can help you create the processes you need. Schedule a call here or contact us at the information below. Modern Observer Group programs are based on the Businetiks system as detailed in the book, “The Businetiks Way.”