Stepping stones to business freedom

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Stepping stones to business freedom

Being able to take a step back and become less entwined in your own business is a process and it does take time depending on your model and the complexity of your business.

However, there are a few key steps you can take to start the process:

1. Identify what you want

It’s really all about priorities and what you want. I was talking to a client the other day who simply shifted his focus onto what he really wants to do, and realising that as you get older these priorities become more important.

You can’t live a life when you’re tied to your business. Sometimes, business owners are so tied to their creations that they don’t have time to think about what they really want in life, and those things become relegated to ‘sometime’ in the future.

Take time out to decide what you really want.

2. Make a decision

Nothing happens until you decide what you want, and then decide that ‘someday’ is not an option. Nothing changes without decisions. If you put off things until ‘some day’ when the kids are through private school, or you’ve paid off the mortgage, or you sell the business, then you will probably have a less than fulfilling time between now and ‘then’.

3. Be very objective about your team
Far too often, the wrong people are in the wrong roles, which adds to your stress rather than alleviate your workload.

No-one ever likes making tough decisions about people we like, and we never want to upset anyone by bringing in new people rather than promoting from within. Some people think an entirely flat management structure is democratic. It usually isn’t.

Ask yourself the question: If I were recruiting for this role again, knowing what I know now, would I still employ that person?

Your freedom depends on having an ‘A Team’ in place. You may have them already but they may be in the wrong roles or being utilised in the wrong way. Be honest about what’s working and what isn’t.

4. Look at the gap between you and the next most senior people

If you are capable of doing 95% of the tasks within the business, what percentage is the next most experienced level able to do?

If the percentage falls way below yours, you will be the person filling that gap.
If there’s a big gap, this will hold you back and keep you firmly tethered to your business.

5. Be ready to let go

It’s like the story of the dog who is so thirsty but won’t drink from its bowl….because it would have to drop the bone from its mouth.

In the transition to freedom, remind yourself to ‘drop it!’ You have to let go and change your own role, and your focus, in order to move toward freedom.

The great irony is that the more you become comfortable with these steps, and begin to let go, the sooner you can build a really rewarding and fulfilling business and life.

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