As business owners, it’s tempting to imagine a future where…
- Our business runs beautifully without our daily involvement.
- We’ve carved out a niche that’s fiercely loyal to our brand, and we’re feeling great about the value our solutions provide.
- Our business is consistently profitable, and we’re making more money than ever before.
- A management team provides us with key updates, and most days, we don’t have to work in the business unless we want to.
- Finally, there’s time to prioritize health and fitness, and it feels amazing to have energy again.
Our relationships are flourishing—both business and personal.
We might be working on high-level strategy, writing a book, or mentoring other business owners.
Maybe we decide to sell the business and travel or build a dream house.
We could start another business or spend our time volunteering for causes important to us.
These are the choices we have, and this is the life that’s possible once our business is an asset.
This is the life we were meant to live.
Six steps can get us there:
- Rethink our relationship with our company. Decide to love it on purpose and treat it as an investment.
- Focus on a specific market. We can offer a better product when we narrow our niche and differentiate from competitors.
- Create scalable solutions that we market like products. Then simplify our systems to deliver our “productized solutions” to more customers within our niche. Discontinue custom services because they don’t scale.
- Redefine our money goals. Aim to generate recurring revenue and get paid in advance.
- Know our company’s numbers. Set written goals and monitor key metrics, so we better understand our business’s health.
- Structure our business so it allows for true freedom. Reclaim our time by replacing ourselves, reducing dependencies, and hiring a sales team.
If you do even half these steps, you’ll be far ahead of most business owners. Plus, your business will become a valuable asset that gives you options. You can keep it and scale, sell it, or become a passive investor removed from the day-to-day.
And you’ll have what you really want: freedom, fulfillment, and financial security.
