Running vs Building a Business
My perspective of having a business has changed several times over the years. Up until last year, it’s mostly been all about running my business. Now, it’s building my business.
What’s so difference between running and building? Everything. Just like it’s taught in E-myth, you really should begin with the end in mind. If your goal is creating profit, then it’s not to “do what you love everyday forever”. Instead, your mindset should be that you love creating profit- whatever that may require you to accomplish on a given day. Sometimes it’s hard work and sometimes it’s fun.
If you’re showing up to work every day just to keep things status quo, then you’re not building the business- you’re running it. If however, you show up every day to build the business- then you can hire someone to run things for you.
The catch of course, is you can’t hire someone to run things unless your sales are higher. And toucan’t get the sales higher unless you create free time by hiring someone to run everything.
There’s a lot of possible solutions to this problem, but the important part is that you choose one and make it happen. That’s the difference with between building your business and running it.
Me? I maximized revenue for a year in order to create a savings that I could invest into hiring people. And then I sought out a partner that could split the effort with me… so while he’s managing the people we’ve hired, I can be out selling and growing revenue.
It’s a gamble. And it’s not all roses and flowers yet of course (maybe it never will be). But it is much less stressful and I’m able to stay focused on the end goal (creating profit).
I think from here my next steps are gong to involve…
- Creating a sales process and hiring someone on commission to replace me.
- Hiring a project manager to replace my partner from doing that.
- Hiring an HR person to replace us from hiring/ training/ firing people all the time.
- Tweak the business processes to optimize employee experience, customer retention, profits.
- Hire a CEO to continuously tweak the processes and evolve the company forward.
All this said, things could not work out and I could end up treading water- running a business full time again. But I doubt that, because my mindset is focused on building the business everyday now.