Business Trap – Owning a Job!

Are you working too many hours? Awake at night thinking about what still needs to be done? Missing out on what you really want from life?

Well chances are you have fallen into the entrepreneurial trap of integrating yourself so well into your business that it can not operate without you. In effect you have purchased yourself a job and until you start thinking like a business owner you will not have the time to enjoy the benefits you dreamt about when you first conceived the idea of going into business for yourself.

One of the major goals of starting your own business was probably to create more time for the activities that really interest you but for many this is far from the reality.

The good news is there is a solution. By teaching and allowing others to do what you do you can create more time for yourself. To grow your business you need to be working on it not in it! Focus on delegating as much of the repetitive work as possible so you can concentrate on the future direction of the business and your future goals.

For many a business owner this concept is not new. I often hear “but I’ve tried that and it didn’t work, I hired someone they didn’t work out and now I’m back doing twice as much”.

Some tips:

  • Ensure you set yourself a goal
  • Create a plan with timeframes to achieve that goal and re-visit it regularly
  • Ensure when hiring staff that the position description and performance measurements align with your goals and that there is sufficient training and mentoring
  • Your systems need to support your goals and your staff. Rigorous systems/procedures will ensure the customer receives the same high quality service every time from any team member

Follow these steps to remove yourself from the process and to create more time for what is important to you!

 

Richard Kemp – Watts Price Accountants
E: richardk@wattsprice.com.au

The advice provided on this Article is general advice only. It has been prepared without taking into account your objectives, financial situation or needs.