We’ve all had a client or prospect “disappear”on us on occasion. Happens all the time and it sends us into all kinds of internal scenarios trying to figure out what happened.
I couldn’t reach a new contact recently and began to wonder what happened to him. Maybe he was no longer interested in what we had been discussing. Maybe something was going on in his business that had changed his priorities.
Well, you get the point. When a client or prospect drops off the world, you begin to wonder what happened and what you can do to pick things back up.
Then, after two weeks, I get a call from him apologizing for being out of communication since he had been on a two-week fishing excursion with his buddies. He quickly moved from a worry to being a hero.
Question: “Can you go fishing for two weeks? Maybe take your family on a two week vacation?” If not, why not?
“You-proofing” your business has enormous benefits. It will allow you to create a company and have a life. Your business will be free to scale up because it is no longer dependent on you, its bottleneck. Best of all, it will be worth a lot more to a buyer whenever you are ready to sell. With that thought in mind, here are a five ways to get your business to run without you:
- Give your employees a stake in the outcome by creating an ownership culture inside your company.
- Create an environment of inclusion. Ask your employees often, “what would you do if you ran the company?”
- Prioritize your company’s offerings by which ones require the least of your attention. That is, revise your selling priorities towards things that sell best without you.
- Fire yourself as the company’s chief rainmaker by creating automated customers.
- Write an instruction manual on how to run your company.
Some owners focus on growing their profits, while others are obsessed with sales goals. By making it your primary goal to set up your business so that it can thrive and grow without you, you ultimately will increase the value of your company and make life more enjoyable.
A business not dependent on its owner is the ultimate asset to own. It allows you complete control over your time so that you can choose the projects you get involved in and the vacations you take. When it comes to getting out, a business independent of its owner is worth a lot more than an owner-dependent company.