Sunday, 26 August 2012
Are You The Business? Bad Luck!
Otherwise known as...
The face of the company.
The person who writes the programs.
The person who delivers the training.
The person people want to see, hear or be trained by.
I have that challenge.
Many other companies have that challenge.
I know what you are thinking; "You say that like it's a bad thing!"
Not now...but in the future.
If you have a company and you are considering selling it, retiring and hoping it will continue, or even considering floating it...bad news.
You need to take yourself out of your business.
You need to remove yourself from the daily running of your business.
Why? Because otherwise you will remain a vital element of the company and you will never be able to sell it without you going along as part of the package. You need to delegate all your tasks within the company to other people, so that the business can function effectively on its own without you being involved.
Your business will never be able to grow beyond what you can physically do yourself.
A buyer will only want to buy the business if you come along with it. Your plan to spend your time on a yacht sipping champagne has been well and truly scuppered. You are now an employee (albeit a very well paid one).
If you can teach what you do to a like minded person who works for you, do so. You must ensure that the business is capable of continuing while you take time out.
If your business is like this, do it now; I am.
If it's a new business you are starting then look closely at your business model and make sure it is scalable.
In other words, can it grow without you being there?
If the answer is no, it's a non starter. Think of a new idea.