{"id":1975,"date":"2010-11-18T09:07:11","date_gmt":"2010-11-18T14:07:11","guid":{"rendered":"https:\/\/www.thegrowthcoach.com\/boston-west\/business-owner-become-the-least-important-person-to-daily-operations"},"modified":"2010-11-18T09:07:11","modified_gmt":"2010-11-18T14:07:11","slug":"business-owner-become-the-least-important-person-to-daily-operations","status":"publish","type":"post","link":"https:\/\/www.thegrowthcoach.com\/boston-west\/business-owner-become-the-least-important-person-to-daily-operations","title":{"rendered":"Business Owner \u2013 Become the Least Important Person to\u00a0Daily\u00a0Operations"},"content":{"rendered":"

When beginning a business, always start with the end in mind.\u00a0 Eventually, you will one day want to sell your business … that’s how substantial wealth is created.<\/strong> Also, there is usually a time when the original founder needs to step aside and let the business evolve and grow to a much higher level.\u00a0 Therefore, even if you have owned a business for years, you should gradually be getting it ready to be sold and to survive and function\u00a0 without you.\u00a0 It is never too soon or too late to position your business to be sold.<\/strong><\/p>\n

Like we stress to each client at The Growth Coach<\/a>, a North American business coaching franchise<\/a> system, in order to eventually sell your company for a fortune, your ultimate goal is to one day become the least important person to the day-to-day operations of the business.<\/strong> Yes, please read that again.<\/em> While that sounds illogical, it makes perfect sense if you think about it. As owner, you cannot afford to be at the center of every problem, every decision, every mess, and every transaction.\u00a0 If so, you will hold back the growth and development of the business and your employees.\u00a0 While you should always be the owner and leader, you should not be the Chief Doer.<\/strong><\/p>\n

Your business, long term, cannot depend upon your presence, personality, problem solving or perspiration for its daily survival.\u00a0 If so, your business does not work for you … you work for your business.\u00a0 You’ll always remain a glorified employee and prisoner to your business.\u00a0 Instead, you need to create an independent, self-sustaining, cash-flowing machine.\u00a0 Instead of having the business be dependent on you, have the business be dependent on the operations manual, systems, processes, and people you have put in place.<\/strong><\/p>\n

When you can say you are no longer the most important person to the daily operations of the business, it will be a joy to own\/manage and you could also sell it for a substantial amount.\u00a0 Since your business is where you’ll create your real wealth, you need to position yourself to generate as much equity in it as possible.<\/strong> Here is your wake-up call … a company is never worth its full value to a buyer if you (the current owner) have to come along with it to make it run.\u00a0 No one wants to buy your JOB or a broken business \u2026 or, if they do, they will pay VERY LITTLE for it.<\/p>\n

From day one, or as soon as you can, structure and operate your business so that you are NOT the most important person to its daily operations.<\/strong><\/p>\n