Don't Become a Slave to Your Business
Curated from: entrepreneur.com
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You can't do it all
The older generation of self-employed people liked working long hours, powered by fast food, and thought their business would fall apart if they didn't show up. However, Millennials and Generation Z take a different approach. We value our time and our health. We think of building a business that wouldn't fall apart if we took time off.
This concept is not new. Savvy entrepreneurs have always built businesses they could walk away from. They employ systems and employees that do the work for them.
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Let your business be bigger than you
Many people think they own businesses, but they really own jobs. They can't leave for a week on vacation because they will lose a week's worth of money.
You can't do everything yourself if you want your business to grow exponentially, create wealth and make an impact. You have to build a business that is bigger than you.
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How to build a "freedom business"
- Don't be the single point of contact. Don't be the only person to handle customer inquiries and client communication. Plan early on for someone else to handle as much communication as possible.
- Don't be a single point of failure. You may do everything yourself in the beginning but should prepare for your escape by documenting everything. What are the steps or repeatable processes? Can you write them down as a Standard Operating Procedure (SOP)? Can you automate the process or hire an employee?
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Test your business by isolating yourself
If you think your business can operate without your personal attention, put it to the test by isolating yourself.
Leave your phone and your computer at home. Then book a week away and make yourself unreachable. If that goes well, go away for two or three weeks.
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