Businesses are started for a multitude of reasons by people with a plethora of motivations. For most, running a business is a lifelong learning curve full of interesting and exciting challenges.
Growing that business is all about eliminating bottle necks and problems that get in the way of that growth and putting things in place to make sure that the business can grow without impediment. At some point though in your businesses journey, you may discover that the impediment is you.
One of the most important lessons that I have learned whilst growing my business, is that I cannot do everything myself and that I do not have to be the best at everything in the business. When you realise that it’s ok not to be the best at every aspect, it’s liberating because you start letting others into the business. And when you do this, your business can grow.
There will be highs and lows as you grow, but at least you will avoid a mental breakdown and exhaustion because you will be building a team that you can rely on.
Working on you
Even with a great team there will be gaps in your knowledge as you transform from the owner / technician to the business leader. These gaps need to be filled and the only way to do that is to go back to school. Not literally of course, but mentally, because everyday needs to be a school day.
If you are to become the person who leads your business to the next level then you will need to always be learning…sign up to Audible.com to get audio busines books in the car so you can learn whilst driving; listen to business related podcasts; read a book or two, there are a number of ways to expand your knowledge but get to work on you, to be the best you can be.
The other option
The other option is to find someone else to take your business to the next level and incentivise them with a profit share. You can then take a step back and enjoy the fruits of their labour. Either way, your business will need someone to lead it to the next level of growth.
How can we help?
We can help you become an expert in your business’s finances, understand its cash burn rate, it’s breakeven point and its management accounts. If you feel that you need to brush up on your finance skills, give us a call.
