Let your business be bigger than you - Deepstash

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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MORE IDEAS FROM Don't Become a Slave to Your Business

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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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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  • 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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The lack of funding or capital is usually the main reason why small businesses fail because the operating expenses are costly from payroll to supplies to rent and more.

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This article allows us to understand why businesses dry up so easily and how we'll be able to get back on the path to success. It is important to keep optimistic so think about it this way: A business down turning is not the end, instead, it is a learning opportunity to start new and rebuild.

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Is freelancing right for you?

It’s estimated that by the end of 2021, 42% of the American workforce will be freelancing.

It takes more than a stable internet connection to make a living as a freelancer. In order to make the big bucks, you’ve got to put in your time and know your stuff when it comes to selling your services.

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Don't try to do everything by yourself when you run a business.

Because your time is important, you can think of other ideas to grow your business when others are working for you.

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