Business Owner Resources

I just got back from Disney World with the family.  On the back of the hotel door, there was a red dot that signified "you are here."  It showed our room in relation to the fire exits.  It struck me -- business owners are red dots too but many of them do not know where they are or how to move efficiently and effectively to the exit (selling their business).  With an effective coaching process, a coach will help you to define where you are, where you want to go, and even help you to think through the right path for you to get there ... and even provide on-going accountability so you make adjustments along the way and stay on track. 

Right now, let's play the "dot" game.  Visualize a circle with a dot in the middle. Most business owners are that dot and the circle is their business. They are at the center of their business, no where near a profitable exit door. They are at the center of every transaction, decision, and problem of that business.  Everything depends on the owner.  Sadly, since everything depends on the owner, the business is not worth much.  Without the owner, there is no business.  Who would ever want to buy such a company that is so dependent on one critical person?  If they do buy it, they will not pay much for it. 

As a business owner, to achieve greater fulfillment and wealth, you must gradually move your dot away from the center of the business closer to the eventual exit door -- a profitable sale of your business.  To achieve this, you do not want to be the most important person in the business.  In fact, you want just the opposite - a business that can operate profitably and consistently without you -- whether you are there or not.  Whether you take a nice vacation or not.  Whether you are sick or not.  You want to own the business but be one of the least important people to its daily operations.  You want to provide "brain equity", not "sweat equity."

The farther you get away from the center of the business and closer to the outer edge of the circle (if not completely outside of the circle), the greater the value of the business.  If you move from the center, the business is less dependent on you and more dependent on the systems and procedures you put in place.  Additionally, until you sell the business for a fortune, it will be so much more enjoyable to run when you are no longer at the center of everything.  Start moving your dot away from the center!

Daniel Murphy
The Growth Coach
Business Coaching Franchise System