Whether you want to make your business more profitable, scale up, have a better work-life balance, or to make your business more saleable than you need a business that is less dependent on you.
If you can’t go on holiday for a week without having to keep an eye on your emails, then your business is too dependent on you.
This isn’t about abdicating your responsibilities and letting your business go haywire, it is about delegating your day-to-day involvement in the business. When I sold my first accountancy practice, I achieved 32% above average because the business wasn’t dependent on me. It might not grow without me at the helm, but it definitely wouldn’t collapse. Everything was delegated to a competent team, reliable software and repeatable processes.
Yes, this takes work.
- Designing and refining repeatable processes that will produce the best results again, and again, and again.
- Investing in software and setting it up so that your business is less dependent on humans as experts, including yourself.
- Hiring or outsourcing strategically where you need the human touch.
I love helping business owners to design all this for themselves. To date every business owner (accountant or otherwise) who has come to me for help in preparing their business for sale has ended up liking it so much that they’ve kept the business for a few more years as they’ve been able to work part time hours.
So don’t wait until you’re ready to sell to create a desirable business! Get a coach and get your life back.