Many people begin their own business because they have worked for someone else, know their trade well and think they can run their own business better. Or that it is an answer to an independent life and the beginning of a better lifestyle. We search for a franchise, or capitalize on our talents to start a business, only to find out, we have merely bought ourselves a “JOB”.
At first we may wear many hats and of course, we start thinking in terms of a business owner when we have to hire and train staff. We go from an hourly employee mentality to a manager employee mentality. We have not yet made the leap to business owner.
Once you have managed people and delegate the jobs that can be handled by staff and start to think strategically, you move from “Manager” mindset to “Business Owner”. A Business Owner takes at least 20% of their week working on the business instead of in the business. Questions like, “When will I know my company is at the end?” or “where is my business headed?” “How do I get there?” “How are my finances set up?” “What is my plan?” “Who do I need on my team?” all need to be answered. We need to know the direction before setting out on the journey.
Where we really make headway as a business owner is when we take the next step to “Investor”. When we begin to look at ourselves and say honestly, “If I were an investor in this company (and most of us already are!) would I fire me for the job I am doing or not doing? Do I have what it takes to make the changes in me that I know are holding me back from having a successful business?”
And most of us don’t even see this in ourselves. And that is why a business owner can move faster to a successful business by engaging with a business coach.
Call Lighthouse Strategic Partners at 508-561-8518 if you want to think differently about you and your investment.
March 11, 2014