Let’s think about this… Are we working for money or for time?
In my experience guiding entrepreneurs, the mindset of working for money often focuses them on the short term: the next sale, the next deal. And if you’re an entrepreneur who has built your business from zero, you are usually the busiest and the best salesperson in your company.
You have the network, you have the relationships, and you have the reputation. Without you, well, the team is just ordinary. But if you build a profitable business this way, how long will it remain profitable?
For business owners who have built a profitable business, the next game is to build a leveraged organization that will give them time for life. In this level of the game, you start thinking, “What will happen to my business if I’m no longer active?”
You’ll soon find that you may need to strengthen your structures, systems, and team engagement so the business engine keeps running full speed even without you.
Marshall Goldsmith, a renowned business author, puts it simply ” What got you here wont get you there.”
The level of thinking we used to build our business to this level may not be enough to build our business to the next level.
In the context of moving to the next level, it’s time to introspect when you start build your business:
1) Have I been building my business for money or for time?
2) Do I have enough financial stability now to allow me to focus more on building a business system?
3) Do I have personal goals and dreams that I want to achieve if I have more personal time?
4) Do I want to be the type of business owners who develop my team to become future leaders?
If you’re curious about how to take your business to the next level, feel free to take this Business Health Check to help you diagnose your business and determine the next step that is best for you.